There's something about ASTN
and it ain't too good. No profits, very little money, product not fully operational, bad financing, mishky pishky business dealings and associates...
1. They are currently not profitable.
2. They are currently running out of funds.
3. They are getting ready to do some toxic convertible financing which will probably lower the share price besides cause even more dilution. The entities doing the financing Kernaghan/Mark Valentine/TK Holdings/Calp II/Southridge have been sued for stock manipulation and fraud in relation to other almost identical financing. Jameson Drive entity is a Cayman Island strawman probably controlled by the above entities. Kernaghan has six current securities investigations in Canada. He's been partners with people who have been sued for securities fraud in the past. He is currently a director in ASTN uttc.
4. They could possibly be delisted if they slip under $1 for too long.
5. They have not been able to keep their promises or projections most of the time. They are years behind with their vwap product and becoming profitable. The product is still not fully operational and for "some reason" the market is not accepting it's usage fully.
6. The mob was involved in their ipo. They boiler roomed and pump and dumped the price keeping it artificially high from the time of their ipo to 1998 from about $7 to $15 or so as per charts. All other information as per SEC and FBI litigation releases. After their IPO company First United was going out of business and dropped their stock support, Fred hired the managing director who is currently a director in the company. He also set up the upcoming funding for a fee.
7. 1998 they hired John Westergaard to promote their stock. He was later sued by the SEC for that promotion and others for lack of a disclaimer. He told investors they should mortgage their house to buy this stock. They should do it on margin also he said.
8. 1999 they hired CCE to promote their stock. They were able to get it from $2 to $18 or so. When they stopped their promotions, the stock fell back down to $2. They were paid over $800K in 1999 for their promotion. They were also sued by the SEC for fraud, lack of disclaimer and insider trading.
Face it folks. ASTN does not have a lot of good things going for them. For anyone to say that right now astn is a good investment must either be in deep, a total fool or a paid promoter. There is a very good chance that ASTN could go out of business when the money runs out. They needed to be profitable yesterday in order to survive.
Oh yeah, one last thing
9. A confident businessman running a good clean company would not sue a message board poster over some negative opinions. A big headed overly emotional desperate over the hill and then some "ceo" trying to appease some angry burned investors while drawing fire away from himself, would. Juuuuuust my personal opinion, as always.
Just say NO to stock fraud!
The below ad is an ihub ad. I have nothing to do with it.
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Just say NO to stock fraud!
