Replies to post #8777 on First American Scientific Corp. (fka FASC)

[TRCPA]

Thanks for your analysis.

Its always interesting when I see those who have devised their own generally accepted accounting principles....that in this case, provide some new terminology.

Phony profits. Very catchy, in a pop-culture kind of way.

I have also had clients who have tried to devise their own tax rules and regulations. They usually have their own catchy terminology, as well.

[TRCPA]

P.S. Interestingly, you also didn't note the heading above those transactions.

Statement of Cash Flows
Nine Months Ended
March 31

You see, those transactions were reflective of the nine-month period of July 1, 2004 through March 31, 2005.

Not just the quarter ending March 31, 2005.

In fact, if you look back to the prior period 10Q, you will find this....

http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001002014%252D05....

Statements of Cash Flows
Six Months Ended
December 31

Stock issued for services
197,000

So you see, that 197,000 wasn't even part of this quarter ending March 31.