Replies to post #51354 on First American Scientific Corp. (fka FASC)

[All City Baby]

The CFO was the CEO at one point in time. Many people considered him the leader of the company despite the CFO title.

The was some story about fronting a machine and never getting paid and having to pay the manufacturer out of future machine sales, which was at least part of the reason why they claimed to have been delinquent in the filings.

[TRCPA]

They did replace their CFO, but the prior CFO re-started the technology and was activist in a number of areas, as many long-termers here know.

I honestly don't know why enough machines weren't sold to keep the filings current, but my opinion was they were simply short-handed following the death of the prior CFO.

I don't know the answer to your second question. The biomass industry itself has suffered from financing issues for a number of years as it has attempted to grow worldwide, and most likely has affected KDS sales.

Over the last 6 months or so, I have noticed an apparent break in that issue, and projects seem to be moving forward with more frequency. I base this mostly on my reviews of several biomass magazines and other industry sources.

[integral]

CFOs are falling out of B School looking for jobs daily. Many are capable of preparing GAAP finacials, pro formas, discounted cash flow models, corporate and international taxation, etc.

This company is special. It takes a special CFO, GAAP/IFRS is not required. SCAM financials are required. Only so many MBA/MS CFOs with SCAM credentials to keep their records current.

They keep their CPA licenses current with SCAM CPE courses only found in the underground.