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Whats up Junky?! How you been??

Rakin' in that dough?

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
Junky
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Not even close....I've got most of my money tied up into this stock!
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Good luck!! [Smile]
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Junky
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I've followed this stock for about 7 years, and have been buying and holding for a rather excruciating past 2 years. The company is First American Scientific Corporation on the Over-the-Counter: Bulletin Board (Bid/Ask is .015 X .019). FASC owns the right to a patented grinder-dryer called the KDS Micronex.

company website - http://fasc.net

An Overview of the KDS Micronex™ - Components and Operations http://fasc.net/kds_main.htm

recent press release: "First American Scientific Corp. Reports the Sale of Two KDS in December 2007" http://biz.yahoo.com/iw/080107/0345393.html


A few thoughts on why I like the stock:

Only 200 million shares are authorized with 196,893,955 outstanding. No convertibles. Shares issued has only gone from 90 million to the present amount over the 8 long years since present management took over. (That's right, they've never done a reverse split!) Total debt (all long-term) is less than 1 million, it's all unsecured, and it's all owed to it's two managers (CEO Brian Nichols and Chairman of the Board Cal Kantonen) who've lent the company money over the years as company management. I've spoken to Brian twice and Cal once, and I'm happy to be able to tell you I have a good feeling about them as people. For what it's worth and in my opinion they certainly are not trying to "pump" the stock and are in this for the long haul. And although they are "penny stock saints" for their lack of dilution over teh course of their reign, their results in terms of sales and profits have been underwhelming. (But the stock wouldn't be under 2 cents if that were not the case.) I don't know if it's the machine's "fault" there has been only 20 or so KDS sales over the past 8 year, but I'd like to think some improvements have been made along the way to the machine. (There has been some pretty extensive testing performed over the years, both by and on the dime of various governments and government agencies.) I'd also like to think that management has refined their sales techniques and have identified the best path or paths towards commercialization and have focused their efforts accordingly. What I do know is that energy prices have soared and the acceptance of alternative energies has increased, so if there ever was a time for this company to enjoy success, I think it's now.

For a comprehensive compilation of DD (due diligence) I'd advise anyone to read the FASC message board "iBox" at Investor's Hub. http://investorshub.a d v f n.com/boards/board.asp?board_id=566
The information has been compiled in a thorough and intelligent manner, and shows the many applications of the KDS Micronex, which go beyond alternative energy. (However, the CEO Brian Nichols did tell me in a telephone conversation about 4-5 months back to "focus on energy". So, I would not be surprised if that is where management's complete or nearly complete focus is these days.)

A few applications that particularly pique my interest:

Grinding biosolids from waste water treatment plants into a certified class A fertilizer (free of is pathogens). I know, from speaking with the CEO, the company would like to see such a product be used in energy production. (Perhaps pelletized and then co-fired with wood waste...there is lots of pine beetle killed timber in North America these days.)

http://www.bcwwa.org/annual_conference/documents/24.02MICRONEX-John.pdf
http://www.bvsde.paho.org/bvsaar/cdlodos/pdf/pilottesting335.pdf

..Connect.. http://investorshub.a d v f n.com/boards/read_msg.asp?message_id=26204355 ..the dots...
http://investorshub.a d v f n.com/boards/read_msg.asp?message_id=26206495 ..la la la la la


Grinding biomass towards pellitization, a combustible powder, or as a pre-treatment for biofuel production
Xcel Energy (XEL:NYSE) just gave a customer of theirs, Minnesota Valley Alfalfa Producers, http://www.granitefallsnews.com/articles/2007/11/04/news/news01.prt
$1 million to study the KDS Micronex for these reasons and possibly to make improvements to the existing KDS design.
"Proposal: Researching the Use of KDS (Kinetic Disintegration System) to Process Various Feedstocks for Biomass Pelletization Use"
http://192.234.136.46/docs/07-0675RDF3rdcyclefunding120607.pdf

Another possible biomass application is sugarcane bagasse (leftovers) in South America. FASC signed a joint venture agreement with a group down in Brazil almost 2 years ago, might hear something from that soon. http://www.fasc.net/newsrelease/06-04-18.htm

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Hey check out the iBox at http://investorshub.a dvfn/boards/board.asp?board_id=566 I spent like 2 days gussying it up and adding some stuff (it was already packed full of DD before I started so I'm not taking credit for what you'll find!)

The stock is under 2 cents with a market cap under 4 million and if you don't wanna buy it after reading the iBox you're nuts! Okay maybe not nuts but honestly check it out, you just might become a FASCista in no time!!

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http://www.auri.org/news/ainapr08/power_renewal.htm

Power Renewal
A Minnesota cooperative returns its founding vision of biomass energy

By E.M. Morrison

Priam, Minn. — A Minnesota cooperative has a new “power point.”



Minnesota Valley Alfalfa Producers started plans to generate electricity from alfalfa stems 14 years ago. But after investing six years of effort and millions of dollars, the farmer-owned cooperative was forced to pull the plug on the project when its partners dropped out.


Despite its rocky start, MnVAP went on to became one of the nation’s largest alfalfa pellet mills, says Montevideo farmer Keith Poier, MnVAP chair. And now — as Minnesota pursues ambitious renewable-energy goals — MnVAP has returned to its founding vision of biomass power. The cooperative wants to supply biomass fuel pellets to Minnesota’s growing renewable-energy sector.



“MnVAP members initially signed on with the intent of being a renewable energy company,” says Kim Larson, a Willmar farmer and consultant who helped organize the co-op in 1994, “and they are once again looking at renewable energy opportunities.”


Late last year, the cooperative received a $1 million renewable-energy grant from the Xcel Energy Renewable Development Fund. MnVAP will use the grant money to test a new technology for grinding and drying high moisture agricultural fibers, such as wood, native grasses and crop residues.


“Innovative and new renewable technologies, such as solar and biomass, have trouble competing with conventional energy in the marketplace,” said Scott Wilensky, Xcel Energy acting vice president of regulatory and government affairs, in a written statement. “The fund’s objective is to remove barriers to entry of new renewable-energy technologies.”


MnVAP will work with AURI and Canadian equipment manufacturer First American Scientific Corporation to test a biomass pulverizing method known as a kinetic disintegration system or KDS. KDS was originally developed for the mining industry, Poier says. Now it’s being used by other industries that need to grind and dry materials before condensing them into pellets.


KDS combines grinding and drying into one operation, eliminating several processing steps and lowering fuel use, Poier says. With this new technology, MnVAP hopes to cut its manufacturing costs in half, he says. That “would allow them to be competitive in a biomass industry,” says Al Doering, scientist at AURI’s coproduct lab in Waseca.



AURI, which helped the co-op get started in the early 1990s, will assist MnVAP in evaluating this new technology. “We’ll help them compare it to their current process,” Doering says. “Some of the things we’ll be looking at are pellet quality, moisture, output and energy savings.”


A good fit for MnVAP
Providing feedstocks for renewable power would be an ideal fit for the farmer cooperative, Doering says. “They’ve been in business a long time, and they have years of experience in collecting and processing long stem biomass.”


Today, MnVAP manufactures 40,000 tons of alfalfa pellets annually and ships its products to feed mills all over the United States, Poier says. Alfalfa is a high-protein staple of livestock diets.


Like the feed industry, the developing biomass-power industry will need cost effective ways to handle voluminous, perishable plant materials, Poier says. “These materials are very expensive to transport and touchy to store. We’re already in the business of processing a bulky raw material so it can be densified and shipped across the country to an end user.”


MnVAP has another big advantage, too, says Larson, the Willmar consultant who is coordinating the co-op’s biomass project. “They are a farmer-owned co-op with 141 shareholders.” MnVAP growers currently supply the co-op with 10,000 acres of alfalfa. In the future, these farmers could also provide the dedicated energy crops that will be needed, Larson says. “Not only can they process biomass, but they have the nucleus of growers to supply it, too. That’s their biggest
asset.”



MnVAP members “farm up and down the Minnesota River Valley and the Red River Valley,” Poier adds. These environmentally sensitive areas could benefit from perennial energy crops, “plants like alfalfa that are good for the land and water,” he says. “That’s an important part of this — to improve the environment.”


Markets emerging
Last February, Minnesota passed landmark legislation that requires state utilities to generate a quarter of their power from renewable sources by 2025. The goal, called “25 by 25,” is one of the most ambitious in the nation, Doering says, and it’s encouraging the development of biomass markets.


For example, municipal utilities in Willmar and New Ulm are looking into co-firing biomass and coal. Ethanol plants are also interested in gasifying or combusting biomass to produce “greener” transportation fuel. Already, three Minnesota ethanol plants are generating biomass power to run their operations. In the future, more companies “will need densified material,” Doering says, creating opportunities for suppliers such as MnVAP to fill the need.


In 1994, when MnVAP formed, “We were way ahead of our time in so many ways,” says Poier, who has served on the co-op’s board since 1999 and been a member since its start. After the first biomass-power initiative collapsed, shareholders could have thrown in the towel, “but we held together.”


The company has struggled to be profitable in a thin-margin business, Poier says, but now, “we’ve gotten to the point where we’re ready to stretch ourselves.” He adds, “I really think this is an opportunity that will pay benefits,” not only for MnVAP, but also “for our communities, our farmers, our state and the nation.”

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JP Steel Plantech was made the exclusive licensee for the for the KDS Micronex technology in late 2005 by FASC.

http://www.fasc.net/newsrelease/05-10-25.htm

In mid-2007, according to FASC (from their last 10K):

"While JP Steel Plantech is diligently working with the equipment documenting every component of the system, they have yet to aggressively enter the marketing phase and have not sold any equipment to date. Nonetheless, we are encouraged by their work and believe this will be very valuable to us over the long term. They are also working with our patent attorneys to finalize the examination process."

Now, check the copyright at the bottom of this (translated) page...it's 2008. It would seem as though this Japanese company with annual sales of 360 million U.S. continues to have the KDS Micronex as part of its plans. (By the way, that drawing is most peculiar...It doesn't look anything like a KDS Micronex. Did they enter the wrong picture?)

http://www.excite.co.jp/world/english/web/?wb_url=http%3A%2F%2Fhp.rhp.jp%2F%7Est eelplantec%2Fkaisyagaiyou.html&wb_lp=JAEN&wb_dis=2

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From the 10-Q:
http://sec.gov/Archives/edgar/data/1002822...asc10q33108.htm

PROJECT UPDATE

Japan - JP Steelplantech Co. License Agreement

On September 26, 2005, the Company signed an exclusive license agreement for manufacturing and marketing the KDS System in Japan with JP Steelplantech Company of Yokohama, Japan. As part of the agreement JP Steel has paid an up front licensing fee and purchased and installed a fully operational KDS at its facility in Yokohama to be used for sales demonstrations and research purposes. Under the agreement, FASC will receive a royalty for each manufactured and machine sold in Japan. Marketing efforts are now underway, but there have been no sales yet to customers in Japan.

JP Steel Plantech Co. is a well established engineering and equipment manufacturing company owned by four Japanese steel industry companies ; Kawasaki Heavy Industries (KHI), Hitachi Zosen (HITZ), JFE Engineering (JFE) and Sumitomo Heavy Industries (SHI).

We met with representatives of JP Steel this February in Malaysia who advised us they are working diligently on this project and expect positive results to follow shortly.

Malaysia - FASCM Joint Venture & License Agreement

On July 8, 2004, the Company granted an exclusive license for 21 years to First American Scinetific Corp (Malaysia) Bhd. Sdn., to market the KDS system in Malaysia, Thailand, Singapore and Indonesia. FASCM purchased one KDS machine and set up a fully operational demonstration plant in Malaysia. Under the agreement, FASC will receive a royalty for each machine manufactured and sold in the territory and will share 50 % in any excess profits from the operation. There was one sale in Malaysia to date, but the equipment was recovered when payment was not forthcoming. Two additional machines have now been sold, the first of which is scheduled for commissioning in May 2008.

Brazil – Proposed Joint Venture & License Agreement

On April 18, 2006 the company announced the signing of an Agreement in Principle to form a joint venture to be named First American Scientific Brazil Ltda. These negotiations will not be finalized until the test machine sent to Brazil is fully operational and evaluated. The machine was delivered last year and is now operational. Our technicians are scheduled to travel to Brazil in June 2008 to commission the machine.

Mexico

In June 2007, the Company signed an exclusive marketing agreement with a group in Mexico. One condition was that they purchase a demonstration machine (at wholesale price) and adapt it to the local market and conditions. The machine was delivered last quarter and is now operational. Results of testing should be available next quarter.

Canada - City of Prince George, BC

In fiscal year 2007, the Company signed a Memorandum of Understanding with the City of Prince George, BC, Canada to assist them at their Waste Water Treament Plant in solving their environmental cleanup process of sewage sludge using the KDS Micronex System. This will be the first operation of its kind in the world where strictly regulated Class B municipal sludge can be cleaned, bagged, and profitably sold to the public as a soil amendment. The initial runs were evaluated by the University of BC, and found

-13-

acceptable, but modifications were required to the equipment to reach commercial acceptance. These modifications are now completed and are being commissioned and evaluated at our test site in Abbotsford, British Columbia.

USA - California

This quarter we delivered one model S-8 machine to a biomass processing facility in California where it has been commissioned and is now being evaluated as a combination dryer /grinder of waste biomass for use in the green energy sector.

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