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Gold/Mining/Energy : FASC (First American Scientific Corp) -- Ignore unavailable to you. Want to Upgrade?

To: Jim K. who wrote (454)	8/25/1998 12:41:00 PM
From: jmt	Read Replies (2) \| Respond to of 972

Jim: My guess is a typo also. But where did all those shares come from? I was looking at some proforma numbers on the website a month ago that listed 14M shares. How did they go from 14M to 49M? Have they been issueing shares to officers and directors for compensation? I am becoming more skeptical here. Two weeks ago the financing was in place, and just a few events had to happen. Now it is no longer a lock. Bakersfield was the jewel with Gypsum, now it has gypsum milled with no buyers. They say now they will mill on spec, but they have no customers. The management team here has not proven the ability to sell. Dining told me there are a number of customers wanting to use the machine for sludge. But they will wait for the Washington state testing. Why?? Maybe the machine is not durable enough to process continually? I am venting, but I am pissed off that there are so many shares now outstanding. Now the earnings have to be triple to justify the same price. Plus Dining does not have anything in writing concerning the patent. But they do still owe $500K to the inventor. jmt