American Scientific Resources (ASFX)

[jhnvtjll]

All public shells are a waiting game. But this one is really bad. It's only slightly better than a grey sheet stock.

This page will scare most potential investors:
https://www.otcmarkets.com/stock/ASFX/overview

Pink No Information
Delinquent SEC Reporting (their last financial report was Q3 2011, over 8 years ago!)
Caveat Emptor
Chapter 7 bankruptcy (this is Chapter 7 which is liquidation, not Chapter 11 which is reorganization)

For anything good to happen (e.g. reverse merger), they have to get current by filing 8 years worth of financial reports. That's twenty-four 10-Q and eight 10-K filings. Yup, eight of them will have to be audited. They also have to convince OTC Markets to remove the Caveat Emptor (skull and crossbones) designation. Then they also need to get FINRA approval if they do any corporate actions like name/CUSIP change and reverse split, which usually happens in a reverse merger. And all this has to be done before the SEC decides to suspend/revoke the stock for being severely delinquent in their filings. They've been going after those that haven't filed since 2015-2017. ASFX is since 2011! Only stocks that are delinquent 1 year or less are safe.

But of course, any signs of life (e.g. new NV SOS filing) can get the stock running even before any of the above is fixed.