>>Are you still long on ADSN? <<
Sorry for taking so long to respond to your question. My system went down and I just got it back on line late last night. I don't know if you have ever had to wipe your hard drive clean and reload, but after having to do it yesterday, I'm amazed at how much information I have lost. Damn! We are also smack in the middle of our family holidays as well. For the past week we have been camping in the rain. I keep on telling my kids that they should look at this as an adventure! We are headed back out to the wilderness tomorrow. So as a result, please don't expect a prompt response from me over the next week or so.
Now back to ASI! No, I have not sold any shares!! My confidence in this company and their future prospects is very solid!
Yes, they are temporarily trading on the Pink sheets. We knew this would happen. In a large part, I chalk this up to the poor communication process that NASDAQ provided to the listed companies. It resulted in companies realizing that they had a very short time span where they could receive and response to any questions or clarifications that NASDAQ wanted. They felt that they had time to spare, and were surprised when this was not the case. This is an issue that the Wall St. Journal has written about.
I do know that companies who have already submitted their form 10 filing will have an accelerated process for coming off the Pink sheets when their filing is eventually approved. There are some exemption forms (I think they are forms 15c2-11 and 211) which allow companies who have already filed, and who have completed their comments, to get exempted from having to re-file a full submission to get back on the OTC. ASI falls into this category. I also am aware that ASI has been in contact with all their Market Makers, and these firms have processed the required forms which will speed the re-listing process.
After contacting the company yesterday, (while I was wiping my hard drive clean) I was found out that they have now received the NASDAQ's response to their filing. This is a good thing folks! This is because the ball is now back in ASI's hands. I was told that the information that they need should not take too long to pull together. They were going into a meeting with their lawyers to work out a plan of action on how they can quickly pull the information together that they need. I anticipate that this activity should keep ASI busy for about a week or two. Once this submission has been sent in, it's then NASDAQ's turn. I don't know how long it will take for them to process their submission, but I am optimistically looking at a 4 week turnaround. That said, I have to emphasize that this is just my musings, and I could be way off.
One thing that I do know is that the folks at ASI will be very busy over the next few weeks, so I plan on leaving them alone (within reason <ggg>), and let them get on with the job of pulling this information together.
I also believe that anyone who wants to find out what the trading on this stock is like can do so through Canada Stockwatch (http://wwwa.canada-stockwatch.com/). This is a subscription site, but they have a free trial option as well. Now there will be a 15 minute delay for the information you want, but when you go to list trades, you can watch the trades throughout the day. I will submit that there will be a lot of games being played by the Market Makers over the next while. For example, the 200 shares traded at $.50 would probably scare a lot of people (when they see the high and low for the day), but when you look at the customer list for the company, and the results they are showing, etc., etc., then I am absolutely convinced that the value is still there. As a result, I expect to be adding to my position over the next few weeks.
So, I plan to let the company get beyond this issue, announce a few more great contracts, and then take this company where it should be. Remember, ASI's president stated some pretty ambitious plans in the interview he gave earlier in the year. I believe him, and I as a result, I still expect to see a 300% return on my investment before the end of the year.
Again, I apologize for my tardy response, but I assure you that I had my reasons.
Crazy Canuk |
