Replies to post #7630 on First American Scientific Corp. (fka FASC)

[Fasctrack]

Asset based loans can certainly secure the loan by assignments of bona fide contract revenue streams and other accounts receivables.

Lender's are not that dumb to allow Borrowers to bonus themselves out loan proceeds. In fact many commercial loan documents preclude the payment of distributions and dividends and even restrict Borrowers from paying additional forms of compensation (i.e. salary increases and bonuses) without the Lender's express written consent. The remedy for a breach of course is to call the loan in default. I don't think Cal would travel down that road.

[TRCPA]

Jag......in addition to Fasctrack's excellent response, $100K would get you all of one month's expenses paid.

Not exactly a big part of any long-term planning.

My point was that FASC would likely need to provide solid enough evidence of future revenue streams for potential creditors, therefore, securing of such financing would be a positive indication of such (future revenue streams) for investors.

Perhaps you were a loan officer in an earlier life, as duke-mogulbuster, I believe, has claimed to be.