Replies to post #31470 on First American Scientific Corp. (fka FASC)

[YukonKing]

Most companies in FASC's situation would be grateful to have even one iron in the fire. FASC has, minimally, five such irons - all glowing cherry red.

[Fasctrack]

I am not very happy about this:

The Company evaluated its September 30, 2010 financial statements for subsequent events through the date the financial statements were issued. The Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements.

So nothing material to report for the period from September 30th through today? I suppose that may be true since Cal was laid up for 4 weeks. Nonetheless, still disapointing.

I don't get the impression that true focus and attention is given to the preparation of these quarterly reports. I know from experience (at least as to smaller companies) the quarterly reports are completed primarily for compliance purposes and not truly with an eye toward dissemination and disclosure of information to shareholders.

[rj2]

Netman,

I think it was a .0023 finger slip by a seller intending a .023 trade The next low trades were panic and oportunity. The previous current PPS was .025 so if someone was to dump for tax loss .023 would do it.

My thinking,

RJ

[beischens]

As I recall, there was some question in the 10K (at least I had questions) about which quarter they meant when they talked about sales in the next quarter. There were no sales or payments specifically delineated for the first quarter.

investorshub.advfn.com/boards/read_msg.aspx?message_id=55765609

I guess now we know, the "next quarter" in the 10K was actually referring to this quarter.

The 10Q was disappointing, but it does fit with information the 10K provided, so not really unexpected.

I'm a die-hard Cubs fan. Our cheer is "Wait til next season!" or in this case Wait Til Next 10Q.