Replies to post #37301 on First American Scientific Corp. (fka FASC)

[Waitedg]

RJ - No further comments except I wonder also how Brian is spending his time. Why there is no commentary for the stockholder.I have pretty much resigned myself to the fact that the share price may soon reflect about .60 on the dollar of the pre-10Q price of about .025. Very discouraging. As you know Brian better than most of us, you might clue him in on investor sentiment. Do you think he cares at all? Waitedg

[TRCPA]

RJ......profitability for the full fiscal year?

That would require the booking of 3 KDS sales in the next 10Q (current quarter).

Based on what has been in the pipeline, well within reach.

BTW, here is a little summary of a probably normal KDS sales event, along with an actual timeline of booked entries; some might find helpful/handy.....with the initial understanding that most of the due diligence that we present here are about the possibilities and prospects only, of simply obtaining new KDS sales orders.

1) FASC/PacWest find prospective KDS buyer who feels KDS is superior technology for their project, and begin negotiating a deal.

Result on company's books - Nothing new shows on the books.

2) FASC/PacWest concludes negotiations with prospective buyer, and gets a signed sales order for a KDS.

Result on company's books - Nothing new shows on the books.

3) FASC receives 50% deposit on KDS sales order from new customer

Result on company's books - Monies received are booked to a "Deposits on Future Sales" account, which shows up as a company liability

4) FASC sends order to Mainland Machinery for the start of KDS manufacturing

Result on company's books - Nothing new shows on the books.

5) FASC makes payment to Mainland Machinery for partial work on the new KDS

Result on company's books - Monies spent on manufacturing of KDS start to show up in asset account called "Work in Progress".

6) FASC receives balance of payment on sale of new KDS from new customer

Result on company's books - Monies received are booked to a "Deposits on Future Sales" account, which continues to show up as a company liability

7) FASC pays Mainland Machinery for completion of manufacturing of new KDS

Result on company's books - Monies spent on manufacturing are again booked to an asset account called "Work in Progress"

8) Mainland Machinery completes the manufacturing process of the KDS and is paid in full for completion by FASC

Result on company's books - Final payments by FASC are again booked to an asset account called "Work in Progress", and then transferred to an account called "Finished inventory".

9) FASC ships the KDS to its customer

Result on company's books - Nothing new shows on the company books

10) The KDS shipped to the customer is commissioned

Result on company's books - NOW, it gets booked as a Sale, and finished inventory cost is transferred to Cost of Sales.