Well well well... Just when you thought FAS had stopped the 3B announcements they have unleashed a whopper 24 million shares! This is about $1.5 million worth or around 3 per cent of the company.
But this time instead of the company receiving cash for printing more shares, they are using it to pay interest and professorial fees. This is because the company is broke and without any cash.
When you have to give away 3 percent of the company every month to just pay interest and other normal business costs the company is clearly not sustainable.
I believe there is a law against trading insolvent. If they are found to do so by a court they are going to gaol.
FAS Price at posting:
6.5¢ Sentiment: Sell Disclosure: Not Held
