Replies to post #46933 on American Scientific Resources (ASFX)

[Christy from Google]

They are, in fact, in Chap 11 proceedings at the moment. Have been for over a year. The only thing missing is the legal petition, and thus are operating a Chap 11 outside the courts.

Read Chris's words carefully, he's "wheeling and dealing" with the creditors. Thats Chap 11 Mint; Management telling creditors they have a PLAN to get out of their financial situation and pay everyone off.

ASFX is just cutting out the middle man, that being, the courts and lawyers.

[medicineman]

While I agree that one's OPINION should be free to be stated on these boards, I also think that, in the interests of preserving our investments, we should spend our time with possible SUGGESTIONS on how to HELP BUILD the company rather than posting a lot of negative OPINION as though it were fact.

Let's look at the obvious... The company has finally got their production up and running, they ARE making sales of at least the thermo (with a lot of other possibilities). They have probably shipped the Bayer order of NDD's (although I can't say that I've looked for or seen any confirmation of that), and who knows what they may have in negotiations. They're cash poor (as most start-ups are), but with a lot of potential. They've come a long way forward since the PPS was spiked at upwards of .07, but the posts keep coming about how BAD things are... I'd say they're a lot better off than they were when the PPS was going crazy! They've JUST STARTED actually shipping any volumes, so the growth stage has JUST NOW BEGUN.

Bottom line is this; throwing the "Bamkruptcy" word out there does no one, especially the company and it's shareholders, any good. As someone else posted, "there are a lot more ways than (bankruptcy) to handle these problems". I agree that management should do more PR's, but then again, you don't PR a deal that may still be in a negotiation stage, no matter how close to being a done-deal that it may be. Although management may be quite capable, and actually have the situation under better control than we may know about (due to the lack of PR's), I'd bet they'd welcome any helpful advice. All IMO of course...