First American Scientific Corp. (fka FASC)

[Net-Man]

TRCPA and RJ - Once upon a time I worked for a shipbuilder. Other than a warranty hold back, you can just bet that everything else was paid in full prior to anything floating away. I see the FASC strategy as prudent to say the least. So as I understand it, they get 50% up front in a deposit, which in turn seems to pay for the construction costs. The remainder is paid in full prior to shipping. Call it a virtual company if you will, but I have seen a number of other virtual companies that have done very nicely indeed!

Let's backtrack a bit. Each of the last 3 quarters has seen significant improvement over the quarter before. The current quarter will apparently more than double last quarter's sales. I know this isn't a long-term trend - yet. However, it is certainly moving in the right direction. Combine this with statements from PacWest albeit unconfirmed, and the trend seems to be a coiled spring. May 15 or before and a lot more should be known.

fwiw,

Net-Man