Auscrete Corporation (ASCK)

[benlurkn]

ASCK's last reported balance sheet is quite clean IMO. From the last 10Q $53,138 Notes Payable (net of discount) and also showed $458,591 of a Derivative Liability.

So only a little over $53,000 in notes. The $458,591 is not a debt the company owes to any entity but rather the the calculated "damage" the notes will inflict upon the balance sheet since they are convertible. It is a complex calculation that takes into account many factors. Once the notes are settled the deriative liability goes away. That is how I understand this anyway.

IMHO