American Scientific Resources (ASFX)

[Oz the OK]

No, unfortunately, it's still at 5 Billion. They have to also make an amendment in the Articles of Incorporation to reduce that, and as you can see from the Nevada Secretary of State's site, that was never done.

This has also been discussed quite a bit over on the Google board. An "insider" employee for ASFX who posts there has said they intend to eventually file that amendment to address this issue, but like most Pinks, until it is actually done...it's just talk.

IMO, from the huge volume and price drop last week, they were diluting again. According to the recent 10-K, they'll need about $3 million per year just to meet operating expenses. They don't have the revenue from product sales to cover that, so they have to pay bills with treasury stock.

No vendor holds on to treasury stock issued for accounts payable. They're not "investing" in ASFX, they want and need cash to pay their own bills, thus they almost immediately sell it, which causes the O/S to rise and the price to drop.

I've flipped this stock a bunch of times, it's one of my favorite money makers, but right now I'm on the sidelines. The charts look horrible, and with that 5 Billion A/S hanging over the market like the Sword of Damocles, they could easily just crank up the printing press and drive the price down to a penny or even subpenny again. I'd like to see some consolidation happening on the charts, but right now, it's not happening, we're still in a downtrend. I don't buy on downtrends.