Aisystems, Inc. (fka ASYI)

[Clutch Cargo]

ASYI – My daughter said THIS about those NOLS!!!!…

I received word over the weekend that a group of venture capitalists have front-loaded a ton of ASYI shares ... and are soon going to instigate a RUN. I will share the details in a posting later this week.


NOW BACK TO THIS POST ... WHICH DEALS WITH THE NOLS:

There’s been some recent discussion here about ASYI’s NOLs. It has been stated that the NOLs total no more than $1.8 Million … if that much. I showed those posts to my daughter, who is a mid-level analyst in TD Ameritrade’s research department. SHE BUSTED OUT LAUGHING!

And then she told me something that concerned me deeply; for a moment. She said that william48’s figure of $30,000,000.00 in NOLs --- which he arrived at over a year ago --- was a mistake.

She went on to indicate that ASYI had --- as of December 31, 2011 --- a WHOPPING $34,513,000.00 of NOLs, as opposed to only $30,000,000.00 … and that the dollar amount of those NOLS continued to grow in operating year 2012. She also said that there is no company presently trading on the OTC that has such an extraordinary dollar amount of accumulated NOLs.

So I asked her for some LINKS …

The following is an absolutely clear, no BS statement taken directly from ASYI’s 2010 annual report (its 10K for that operating year, dated December 31, 2010):

-

“The Company [ASYI] has net operating loss carry-forwards, including from its [two] Canadian subsidiaries, which are available to offset future taxable income. At December 31, 2010, the Company has U.S. accumulated net operating loss carry-forwards of approximately $25,477,000, due to expire beginning 2025, and Canadian accumulated net operating loss carry-forwards of $6,007,000, due to expire beginning 2027.”

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7862874


The two amounts shown above total $31,484,000.00 in “accumulated NOLs through December 31, 2010. THEREFORE, that total does NOT include ASYI’s operating losses for the year 2011, which, according to ASYI’s 10K for 2011, amounted to a further $3,029,000.00 of NOLs.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8627155

If we then add the 2011 NOLs ($3,029,000.00) to the 2010 NOLs ($31,484,000.00), we get total net operating losses of $34,513,000.00.

Thus, the total amount of accumulated NOLs through December 31, 2011, rises to a STAGGERING $34,513,000.00.

My daughter cautioned that this $34,513,000.00 is ONLY the accumulated NOLs through December 31, 2011. That number does NOT contain any operating losses incurred by ASYI during 2012 (for which her research department doesn’t have complete financial statements of ASYI’s operations)

She did, however, say that her research department firmly believes that ASYI sustained continuing operating losses during year 2012, as a result of the divestment of AIS and the total apparent shut-down of the company. She could not, however, place an exact dollar-value on those losses because ASYI did not file audited financial statements for all of 2012. That being the case, I do no discuss them in this posting.

AND THEN SHE STARTED REALLY LAUGHING …

She again directed my attention to that very clear and forthright statement (shown above) about the $31,484,000.00 of NOLs that was contained in the audited 10K for 2010.

She then COMPARED that very clear statement to the following statement that is contained in ASYI’s 10K for operating year 2011, which was dated May 21, 2012:

“The Company has net operating loss carry-forwards, including from its [two] Canadian subsidiaries, which are available to offset future taxable income. The Company does not have an accrual for uncertain tax positions as of December 31, 2011 and 2010. The future benefit of net operating loss carry forwards to the Company may be limited by on an annual basis and in total by Section 382 of the United States Internal Revenue Code as a result of prior ownership changes and depending on the future ownership changes.”

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8627155

It must be remembered that THIS B__ S___ statement about those $34,513,000.00 of actual NOLs was published AFTER the following deceptions were rolled our way:

1. The FAKE-BDS LOI of December 2011.

2. The FAKE-divestiture of AIS of March 2012.

3. The FAKE-KoolTel LOI of April 2012.

4. The announcement that the A/S has risen to 5 Billion shares.

So then …

All of a sudden, on May 21, 2012, the folks at ASYI are uncertain and fearful about the dollar-value and future use of those $34,513,000.00 of NOLs. In fact, they are SO uncertain and fearful that they can’t even bring themselves to PUBLISH that $34,513,000.00 dollar figure in the 10K anymore … the way they did in the previous year’s 10K.

All of a sudden those folks have lost the ability to even place a dollar-value on all those very valuable NOLs (that they had no problem placing a dollar-value on just 17 months earlier).

All of a sudden those same folks seem to have completely forgotten that ASYI had over $32.5 million of assets just two years earlier … EVEN as they acknowledged that they continued to accumulate net operating losses in the additional amount of $3,029,000.00 for the year 2011.

All of a sudden, on May 21, 2012, while busily going out of business, and (presumably) diluting the market with billions of newly-authorized shares, they want you and me to believe that in just ONE operating year (i.e., 2011) they engaged in conduct that totally wiped-out and destroyed $34,513,000.00 in assets … their ONLY REMAINING ASSET!

And they did all of that DESPITE having had an in-house accountant; and an Audit Committee; and an in-house Financial Advisor (Salman Ullah, who owned a hedge fund that deals with issues regarding NOLs all the time); and an independent accounting firm.


Yeah. Right! The good folks at ASYI ignored everybody and everything … and in just one single year managed to completely wipe-out and destroy $34,513,000.00 of NOLs.

LOLOLOLOLOLOLOLOLOLOL!!!!!!!!!!

And you sit there, month-after-month, worrying and fretting over whether or not these deceptive corporate SCUMBAGS are even CAPABLE of telling you the “truth” about ANY single aspect of this trade????

Are you KIDDING me????

LOLOLOLOLOLOLOLOLOLOL!!!!!!!!!!

P.S.: While I had her in front of me, I AGAIN asked my daughter about the alleged “DTC-Chill” on the purchase of ASYI stock.

She said the following 3 word to me about it:

“DADDY … IT’S B___S___!!!”