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Monday, December 11, 2017 1:14:09 AM
Since the trustee report was already issued, a formal request for commissions was made and the report clearly states all debts and claims satisfied - one would think that were due to find more material events now at any point here with $ASFX
What's next? :One may presume that next we will see some actual changes made with the stock and certificates themselves. Since this would be an intriguing merger candidate for some time - it sure would be warranted to see some changes made to DTC or Cusip to signal that something is about to happen here. Please note that it was the TRUSTEE himself, Barmat who stated...
17. Based on my knowledge of the Debtor, its business operations, customers,
suppliers, creditors and shareholders, I believe that upon reorganization the Debtor will be able
to recommence its business operations, and provide a significant recovery to its creditors and
shareholders.
THATS VERY TELLING AS NOW...the company /debtor is about to come out of the BK case this week.
WHAT DO WE KNOW?
1- the SS is still awesome and at worst it's - 470mil o/s - and no debts -!!! 500mil a/s. My guess though is they were able to satisfy the remaining debts with far less conversions and it's more like 380 o/s. But either way - still excellent.
2- the BK case appears to have settled fully as the trustee has submitted TFR- and requested commissions after filing the proper request as can be seen in the ibox or on PACER for paid members. This is very big news as now any reorganization will allow for $ASFX to go back to Buisness.
3- the BK case always gave a caveat for a merger - reverse merger and it appeared interesting when the other attorneies on the case started dropping off. Then came the proof every claim was satisfied and every judgment satisfied.
4- should be interesting the more folks who look into this case will begin to see signs of life out of management. They waited a long time for this and now - it would be intriguing to see what they choose to put into this shell. There should be no debts and no convertibles either.
5- first indication would be a necessary SEC filing - even if it's to stop filing - and they then need Taylor or trustee to inform us if they have done things like engage for cusip change or other FINRA based actions. This is going to get exciting quick and when folks see the relatively low float here - it will likely even increase the intrigue.
AGAIN..from the trustee...
TRUSTEE, MARC P. BARMAT’S, FINAL APPLICATION FOR COMPENSATION AND EXPENSES
The applicant respectfully represents that he was the duly appointed Trustee in the above styled cause and that in the course of administration as such Trustee, he administered all assets, reviewed and resolved all claims, maintained all estate financial records, and collected estate funds in the amount of $560,214.95.
17. Based on my knowledge of the Debtor, its business operations, customers,
suppliers, creditors and shareholders, I believe that upon reorganization the Debtor will be able
to recommence its business operations, and provide a significant recovery to its creditors and
shareholders.
FOLKS should also be looking at both NV and DE- as i presume that the only director left here (Taylor - I believe) may be making corp actions soon to give us further insight IMO.
This should be testing .002-.003's this week with any increased volume.
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