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sunspotter

12/14/10 5:40 PM

#31480 RE: rj2 #31478

"I am not sure what your point is?"

My point is that in spite of many predictions to the contrary, FASC not only remains in loss making mode, it is in reality in a very parlous position financially, being insolvent, even if you discount the back pay "owed" to Cal and Brian for their sterling efforts on the shareholders' behalf.

In any normal company, the self-same shareholders would be holding their employees - the "managers" of FASCE, in this case, directly to account, and expecting a firm action plan, not the same old regurgitated promises that tomorrow they will start making a profit, honest.

With FASCE, tomorrow never comes, as history has taught us, year after year after year.

I'm actually genuinely astounded that anybody could consider the performance of FASC's "managers", in terms of sales, profits, communication to shareholders and general discharge of their fiduciary duties as anything other than grossly negligent.

What will it take to each the stage where these people have to deliver rather than make promises they then break?

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TRCPA

12/14/10 6:54 PM

#31485 RE: rj2 #31478

RJ.....their statement as to profitability is explicit, and has never been cited before on any prior 10-Q or 10-K. I'm seeing near term as 3-6 months for profitability.

Sales are the necessary process in which to get there. Profitability is the ultimate turning point.

In my view, it will simply be an added bonus....albeit a big one... if all back salaries/debt are paid back by the end of the next year.