American Scientific Resources (ASFX)

[makeamint2]

IMPORTANT EDIT: this is the worse possible case scenario for the insiders, the trustee has literally unlimited investigative powers..all of the promoting and "buy more" PEOPLE ARE IN A FOR A VERY TOUGH AND VERY ROUGH COLONOSCOPY.......

There is no way for ASR or the individuals to stop this... no way. The best case would be that they can appeal AFTER the trustee does it's due diligence. And In my opinion that due diligence will lead straight to an SEC investigation and DOJ prosecution.

Fraudulent Transfers - The bankruptcy trustee also may avoid or recover fraudulent transfers made within one year before the filing. Under the Bankruptcy Code, a fraudulent transfer is a transfer that was made with the intent to hinder, delay, or defraud a creditor. It also includes transfers for which the debtor received less than a reasonably equivalent value in exchange for the transfer. Thus, gifts, assignments, or other transfers made to relatives to shelter certain assets from the claims of creditors in bankruptcy may be avoided by the trustee.

The insiders and anyone associated with the newly formed company are likewise up the proverbial creek without a paddle.. jmho