"My thoughts are that cash flow is the issue, not the willingness to file."
I did rather misunderstand you - but I would also argue with that point.
Frankly speaking, all of FASC 10 Qs and 10ks are pretty well identical, except for a few (smallish) numbers here or there. A qualified CPA or even an internal layperson with a double digit IQ should be able to compile a "new" filing with the minimum of effort or expense.
As an aside, I did start looking for the definitive answer about whether FASC could issue new stock while delinquent in its filings.
To me, at least, the answer is not as clear as I thought it would be, and this arises because FASC is nowadays classified as an OTC Link stock. And OTC Link stocks have much less onerous reporting requirements than a higher OTC tier - effectively the regulatory regime is about as rigorous as for a Pink Sheet, that is not at all rigorous:
"Issuers of OTC securities quoted on the OTC Link system have no duty to provide any information to investors. While many issuers register OTC securities with the Securities and Exchange Commission (SEC) and may provide regular reports to investors in connection with such registration, issuers are not required to maintain such registration or provide such reports because their securities are quoted on OTC Link. Securities may continue to be quoted on the OTC Link system if issuers are delinquent in their reporting obligation to the SEC or other federal or state regulatory agencies. Quotation of a security on the OTC Link system or the Yellow Sheets does not in itself create any ongoing filing or reporting obligations with the SEC for any issuer. In many cases, issuers may not even be aware that their securities are quoted on the OTC Link system."
News 
Market Data 
Discover 
