Some of my concerns about the filings/disclosures......
I think a lot of investors (myself included) are probably waiting for additional weakness in the share price before any entry or additional accumulation.
I have already been burnt once before by an ASKH periodic filing (2014 10-K) that turned out to inaccurate. Management completely failed to disclose its October 2014 floorless convertible in that particular filing, and then to make matters even worse it did not disclose that debt until about one year later. Needless to say, that kind of managerial incompetence is completely unacceptable.
It would be somewhat tempting to pick up ASKH shares at sub-penny prices if we could be absolutely certain that the October 2014 debt is the only floorless convertible that ASKH has on its books, and we could be certain that management will not engage in any further financing of this nature.
What I want to see is full disclosure in an 8-K or the next periodic filing on a couple of items that are of concern to me......
1) The $22.5K debt owed to Artfield Investments is still sitting on the balance sheet and it is convertible into shares. It has now been more than 2 years, and ASKH still has not provided any details at all on the conversion terms of that debt.
2) The CEO should set exact repayment terms on the related party debt that the company owes to him, so there will be no unpleasant surprises if/when he decides to convert that debt into shares. The fact that the CEO loaned the company a large chunk of money, but decided not to pay off that toxic debt has me a little concerned that the CEO might decide to convert his debt at an extremely low price.
