Let's start thinking of a possible positive scenario out of the "ashes" of this stock. Brian and Adam need $100,000+ to pay auditors, and get financials approved. (Brian told me in our phone call he had the financials pretty much "ready to go"--could act quickly. The money and the large multilevel order to achieve it--was needed). Janice tells us it will be somewhere in the area of 30 days that the meeting with Chip Welch will take place. I think the necessary financials preparation for this date can be achieved.
Now, Adam, I understand, is the one paid employee right now. Perhaps a serious father-son conversation occurs or is occurring. Perhaps Adam has to sacrifice his salary, and together they figure out they are very close to a turnaround situation--and together they can find a way to come up with the $100,000 plus needed for auditors. A part of their thinking might include the fact they have recently updated the web site. This would indicate they are closer than we think to turning around. (Of course, there could be self-centered motivations for improving the web site, but did not have the shareholders welfare in consideration.
Now finally, Janice has pointed out that no one in FASC's situation has proceeded with the Form 10--and still chose to keep shareholders welfare in their very impoverished and/or greedy but new situation. I see why the odds are very poor. Little money to go around and/or corruption.. Still people have to live with themselves and their consciences. Rough world and the odds are not good. I once won a 20 to 1 odds bet at the races in my earlier years. I would still buy a $2 ticket on FASC. - Dave
