Replies to post #54815 on American Scientific Resources (ASFX)

[MarketCaptain]

Case No. 12-14640-JKO

You'll need PACER to view it but here are a few excerpts.

In the first expert you'll see the Robert Faber and Jason Cohen created Brooklands and then fraudulently drained ASFX of its assets.

The "Debtor" is defined as AMERICAN SCIENTIFIC RESOURCES,INCORPORATED

Part II - Item 4 - BACKGROUND

4. The Debtor is a Nevada publicly traded entity with over 10,000 beneficial
shareholders at the time of the last report. Its principal place of business is in Westin, Florida.
The Debtor was in the business of manufacturing and distributing medical devices, including a
touch-free thermometer and a portable needle disposal devise. As of December 2011, the Debtor
was controlled by its president Robert Faber along with Jason Roth, Austin Kazinetz and Paul
Cohen (collectively, the “Controlling Management”). In or about February 2012, however, the
Controlling Management drained it of its assets in a series of fraudulent transactions. As a result,
the Debtor was left with few assets other than claims against the Controlling Management and
Brooklands, Inc. (“Brooklands”), the corporation formed by the Controlling Management which
received the Debtor’s fraudulently transferred assets.

Part II - Item 5 - BACKGROUND

5. In an effort to protect the Debtor and its assets, several of its unsecured creditors
filed an involuntary petition against the Debtor on February 27th, 2012. Rather than contest the
involuntary petition, Controlling Management abandoned the Debtor and continued to manage
the Debtor’s assets at Brooklands. As a result, the Debtor holds several viable causes of action
against the Controlling Management entities and Brooklands, including for breach of duties of
care and loyalty, fraud, actual and constructive fraud and conversion.