First American Scientific Corp. (fka FASC)

[TRCPA]

Fasctrack.....correctly stated. Assets on the books held at historical cost and whittled away by depreciation bear absolutely no relationship to their current market value.

For example, if you bought a commercial building 30 years ago for $250,000, that same building would show zero value on the books fully depreciated, yet may easily be worth $5 million or more based on its current rental value.

It is simply folly to put forth a determination of current asset value based on historical cost less depreciation.