Aisystems, Inc. (fka ASYI)

[FORTY-8]

A little 'air-freshener' here...

Please Read, Know and thus be calmed…

1. What is ASYI’s deadline date for the filing of it’s 10-Q? (please note that it is deemed to be a “Non-Accelerated Filer (less than $75M)):

http://www.sec.gov/answers/form10q.htm

2. What happens if ASYI misses its August 16th deadline?

Read the first two paragraphs:
http://www.chadbourne.com/files/Publication/8c793188-13cd-4b5c-8894-981185b4d15a/Presentation/PublicationAttachment/2a46a74c-d333-46a4-991e-9a3bc2c378f0/WhatLateSECFilersNeedtoKnow_BloomLaw102005.pdf

3. Must ASYI’s 10-Q contain audited financial statements?:

http://en.wikipedia.org/wiki/Securities_and_Exchange_Commission_Form_10-Q

4. Are NOLs actually “assets” that belong on a company’s balance sheet?

The accountants at General Motors certainly thought so:

https://www.hightable.com/taxation/insight/investors-punish-gm-stock-in-part-on-large-deferred-tax-adjustment-18772

And so do all other accountants (please note that the following article was written before the Obama Administration enacted a new law (in 2009) that increased the carry-back provisions from 2 years to 5 years. This means that GCS is now permitted to offset revenue earned as far back as 2007!!!):

http://www.accessmylibrary.com/article-1G1-148719197/net-operating-losses-much.html