"Is there any evidence that supports the company is a scam or is this just more conjecture?"
My question was based on the fact that just about every Pink Sheet company that goes dark - some by filing the requisite paperwork, others by not filing any paperwork at all - just as FASC have refused to file the 10-Qs, 10-Ks, 8-Ks etc etc that they are legally obliged to file - turns out to be worthless as a buy and hold "investment".
I can name many such companies that either have proven to be scams or might as well be in that either they're in the trips, at No Bid, been suspended by the SEC or otherwise dwindled into nothingness.
I can't think of any penny stock companies that were dark for as long as FASC but then recovered, brought their filings up to date and continued on as models of financial rectitude and probity, and went on to execute a successful business model and rewarded their shareholders appropriately.
So, it's certainly reasonable to ask why it is that FASC should be an exception when as far as I know - and any counter examples would be welcome - almost every other company that behaves as they do has ended up worthless except as a tax loss, and many have proven to be outright scams.
Once again, not reporting to the SEC makes it very easy for the "management" of the company to do exactly what they like with the company's assets, including cash and other resources, without the ordinary retail shareholder having any clue as to what is happening. Indeed in the majority of cases, that's exactly why the company in question goes dark - so that crooked insiders can siphon off the assets unhindered.
That's why companies that refuse to meet their legal obligations get labelled by even the notoriously lax OTC Markets group as "CAVEAT EMPTOR!" , as FASC has been.
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