Reno govt Watchdog
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CPAMAN, thanks for what looks like
pretty darn good substantiation.
That KDS is involved.
A real live demo operation. So
now FASC can send people who might
be skeptical of the the KDS to this
little town.. to see for themselves
what a miracle it really is.
Can I get excited? Again! eom
Natural gas? It is hurting both
of my main investments:
FASC and
coal.
There are a lot of people who say
this (nat gas) fracturing is going to
prove to have been very dangerous and
damaging.
But it is so darn cheap (for some
strange) reasons.. that buyers can't
stop themselves from buying it.
But for how long?
That is the question.
Another GREAT find! Thanks.
22 - HERE'S THE (GOOD) STORY:
Patriot Coal Corp. has filed a breach of contract lawsuit against Florida-based Keystone Industries for failing to take "hundreds of thousands of tons" of coal agreed to under a contract signed in December 2011. News of the potential default recently triggered concerns over Patriot's viability, which sent its stock price tumbling.
According to Patriot's complaint, filed June 1 in the U.S. District Court for the Southern District of West Virginia, Patriot unit Patriot Coal Sales LLC alleges that Keystone agreed to purchase coal to be delivered in 2012. Patriot said that because the contract contained a confidentiality agreement, it would file the contract with the court under seal. Patriot sent Keystone a notice of default on May 11, giving it 30 days to cure the breach.
"As of the date of this complaint, Keystone has not cured its breach and default of the coal confirmation," Patriot said in the filing. "Keystone failed to take or pay for a single ton of coal as it is obligated to do under the coal confirmation despite having contracted to take and pay for hundreds of thousands of tons of coal by the date of this complaint."
Patriot said that the contract required Keystone to take monthly delivery of coal during 2012 and that it was Patriot's understanding that Keystone, a coal supplier, intended to resell the Patriot coal to its own buyer.
"Keystone's obligations under the coal confirmation were not contingent, however, upon Keystone identifying or contracting with a buyer nor are Keystone's obligations contingent upon the performance of its buyer," Patriot said.
"Patriot has been damaged by Keystone's breach of the coal confirmation, including but not limited to, the present value of the loss of sales to Keystone in the quantities and prices specified under the coal confirmation for the entire duration of the contract," according to the complaint.
Patriot is seeking damages representing the present value of the loss of the coal sales at quantities and prices established in the contract.
Shortly after Patriot's announcement May 14 that a "key customer" would potentially default on a contract, rumors began to circulate among investors that the company's liquidity position could be in jeopardy. Some analysts opined that the default could trigger a material adverse change provision in a $625 million financing agreement Patriot is seeking to offset near-term debt maturities.
Standard & Poor's Ratings Services on May 23 cut its corporate credit rating on Patriot to CCC from B- and said it had doubts about the company's ability to meet near-term obligations.
Patriot had about $115 million of cash on its balance sheet as of March 31. "As operating performance remains weak as a result of curtailed production, we doubt Patriot's ability to meet near-term obligations," S&P said.
Patriot said it is working with lenders to strengthen its finances, including refinancing debt coming due in early 2013. It has hired Blackstone Group LP as an adviser and is working with legal counsel to achieve an optimal financing package.
A spokeswoman for Patriot could not immediately be reached for comment.
DAD2, thanks for the great news. eom
He doesn't seem to have a Facebook. eom
I have been noticing that Chesapeake
has been getting some bad press
lately.
Do you think there might be ramifications
of the potential pressure being placed
on CHK management?
It just seems unimaginable that
we could have so many unimaginably
great things happening.. and yet
the stock languishes.
How can that be?
It defies everything.
Still holding...
If some company thinks it wants a
KDS. But isn't sure how well it
will operate. Now they can send
observers to myriad places to see
the KDS up close and personal.
That had to have been one of the
biggest obstacles to overcome in
the beginning.
Just like every new invention in
history.
Even the flushable toilet.
PS - Please, FASC, don't make me
have to start adding my Air Force
career (started after college.. and
lasting 26 years) in there too.
PERSPECTIVE: I have been "involved"
with FASC almost as long as my entire
grade-school,
high school,
and college
experiences added together.
SCHOOLING: 1946 to 1962
versus
FASC: 1998 to 2012.
CPAMAN, I agree. I hope. eom
I agree. My bad.. or maybe booboo. eom
It would be worth giving away about
5 or 6 of them at cost.
Just to get the KDS "out there".
This FASC "experience" has been
like a lifelong course in Economics.
Thanks in a large part to Cpaman.
AND SEVERAL OTHERS..
WOW! That really feels bad when..
.003 amounts to 16% of the stock value.
At least it's UP.
That 1,200 shares = about 10 cups of
regular coffee at someplace like
Starbucks or Einsteins.
And the "kinetic disintegration mills-KDS (e.g. flail mills)"
that they talk about 4 times.. is OUR KDS.
Right?
That would sure seem to tie the
KDS in with that giant company.
Do they like the "songs"?
It's time to take them to the
TOP OF THE CHARTS.
If our KDS is involved with this
giant company.. how can there NOT
be some FASC stock buying by them?
When the listeners start liking the
"overnight sensation's" songs.. they
start buying his albums.
Right?
Peter, THAT is pretty darn up
and walking good stuff.
What a great (sad) story.
Kudos!
PS
55 (only) views for such a wonderful
video.
And then we get millions watching
Youtubes of paint drying or eggs
hatching.
Geesch...
You ask:
Do "they" care?
Not much.
GREAT! But let's make that
ALL of the above.
(Contracts with)
CPAMAN,THAT! is one of the best..
analogies I have ever heard.
PS
I assume you are thinking of me
as that singing sensation (which
I am).. who is still looking for
that "overnight success".
Here's "Overnight" Sensational Sam
With out being a kurmugeon, I keep
saying; if even 1/10th of this stuff
we keep finding was viably true..
the stock would reflect at least
something.
Folks "at the other end" who "know"
would be buying FASC stock.
Instead we (less than) languish.
That KDS 3 Pack: Could somebody go to
where they are installed and look at
them.. and ask how they are doing..
and when (hoow much) they are going
to be paid for?
CPAMAN, Thanks. When you get the
site back up will you let us know?
But Ben, didn't you just see
the words of encouragement from
the CFO?
That would have looked better in
the official report.
And don't you believe that I'm
not sympathetic with your
observations.
OKAY! I saw pictures of 3 (4?) KDSs..
lined up somewhere.. supposedly
in operation. Or were they just
sitting there?
How did they get to be supposedly
working for somebody without
somebody paying FASC something.
Were they donated.. or on loan?
Or what?
Hqtrs.
Please.. at least a
"no comment".
Is he really having a colonoscopy? If
so.. why did he decide to do it
right now.. at the day of the report?
Is this an emergency procedure?
The timing seems at least bizarre.
Well NOBODY dumped anything. That
should be a good sign.
What are the chances of a mid-term
announcement of sales?
Maybe Brian's proctolacization
might open up new channels of
communication desires?
CPAMAN, I knew I could depend
on you. That is stuff I never
thought about. And it looks really
bad for start ups.. until an
assembly line of sales gets
flowing.
And/or maybe there is a possibility
of a perfect storm of multiple
"SALES bookings"?
I must assume that many on this
board are independently wealthy..
while they wait for the really big
ship to come in.
The MMs are using 8,000 shares
to plummet FASC 10%. Come on
Brian throw us a bone.
Dear loyal investors:
"We are almost there.. imminently."
This report is not going to en..
encourage potential KDS buyers
about the viability of the
company.
Nope!
HEY! Cpaman always finds something
good that we miss.
Right?
Standing by...
How do you spell N I G H T M A R E?
There is nothing good in there.. not
even a bone for hope.
Such as:
"The company knows that investors
are severely disappointed.. again.
This is especially true after all
of the positively spun reports about
KDS sales (supported by myriad photos
of KDSs in operations throughout the
world) that have been circulating for
the last several months.
Rest assured we do feel that there are
several KDS sales that the company
feels are very close to fruition.
Thanks you for your ongoing support
and hopes for our success."
The management
The "best" thing FASC has going for
it is a Loss Carry forward of
$16,000,000.
$16,000,000 Loss Carry Forward.
OXYMORON? How can cost of sales go
up drastically.. when there are
no sales reported?
(up) $239,934 from $1,565.
How can there be such a massive
difference between all the stuff
these different entities.. from
Pacwest to Portland.. tell the
world.. and what is depicted in
this pathetic report?
Why isn't stuff like that Portland
report included in this report..
to at least tell the investors
that there is "something" good
potentially out there?
This is probably the most disappointing
report of all. Considering all
the good stuff that has been
reported in the last several weeks
about stuff like "about 47 KDSs
being used out there in
the world.