American Scientific Resources (ASFX)

[Oz the OK]

With an accumilated deficit of (21,511,100) on 31 march 2010 ASFX IS technically already bankrupt.

Wow...you're not even close on this one dog. Have you ever taken a bookkeeping class? I forwarded this post to my CPA, and he was rolling on the floor.

Accumulated deficit, which is registered in the balance sheet, is nothing more than a HISTORY of the profits and losses of a company during the entire existence of that entity, going back to day 1.

A company could be totally profitable, yet if they suffered huge losses early in their existence, the accumulated deficit will still show up on the balance sheet as a negative. It could take years to turn that balance sheet entry into a positive one.