American Scientific Resources (ASFX)

[doggone]

With an accumilated deficit of (21,511,100) on 31 march 2010 ASFX IS technically already bankrupt.
Liabilities that exceed assets [3,169,310 most of which is attributed to the NDD patent that no one else seemed to value, and current liabilities of 5,690,379] is the classic definition of bankruptcy. If it weren't for the fact ASFX has very nearly no asstes, creditors would likely force legal bankruptcy proceedings.
The S-1 gives hints that Lender #1 and #2 may have put pressure on ASFX to make the filing.
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