Replies to post #51263 on First American Scientific Corp. (fka FASC)

[sunspotter]

"I most assuredly understand and appreciate your concerns in this matter and would ask for your continued support and patience as we work to get our financials filed and the suspension lifted."

I'm afraid Brian Nichols has missed the point.

The suspension will be lifted automatically at 23.59 on May 5. SEC only has power to suspend stocks for ten days.

The Grey Market listing, however, will stay for ever. Or until FASC is revoked, anyway.

[charlie02356]

A week ago we could be giddy with excitement to get a web update from our CEO. Now not so much. [dramatic understatement]

"future" audit sounds so much like "soon"...and we know how that turned out.

[techisbest]

Added 4/24/2015

http://www.fasc.net/information.html

From Brian Nichols to our shareholders:
I wanted to make our shareholders aware that First American Scientific Corporation has received notice from the SEC of a 10 day trading suspension of our shares. FASC is taking this matter very seriously and is working with the SEC and our auditors to bring about a positive outcome for our company and shareholders. I regret the trading suspension has occurred. Unfortunately, a lack of sufficient cash flow from normal business activities prevented us from filing our SEC financial reports in a timely fashion. Our CFO, Kelly Niavis, is currently preparing all our financials for a future audit. Once these are audited, the individual reports will be filed with the SEC.

I most assuredly understand and appreciate your concerns in this matter and would ask for your continued support and patience as we work to get our financials filed and the suspension lifted.

Most sincerely,

Brian Nichols, CEO

[TRCPA]

Thanks, Net-Man.......will be interesting to watch as this moves forward. Those financial statements should comply with the standards needed for the Market Makers 15c-211, I believe it is.

Statements must be "reasonably current and materially accurate."

I wonder if others have caught on to the distinctions in reporting requirements within the OTC for SEC and non-SEC reporting companies.

Its a very interesting double standard, for financial reporting purposes.