One sign of the shenanigans to come is that trading has fired up in spite of the fact that the company hasn't issued a press release in three years. Back then it was known as Resource Exchange America Corp. (RXAC), and was also the subject of several pump and dump campaigns. That company had ties to other companies that were the subject of BDPS Pump & Dump campaigns, POWT and BFLX, which is one reason we are suspicious that the reinvention of the RXAC ticker to its current moniker. As RXAC, the company, by its own statement,
"is [was] working to become a recycling powerhouse by rolling up companies within asset recovery, processing and brokering of ferrous and nonferrous scrap metal. With its access to deep-water ports, the company will be able to sell the scrap metal to clients domestically as well as abroad. Resource Exchange of America Corporation will bring together the best companies within the recycling industry and elevate them to excellence, drawing on the strengths of the individual companies while combining forces to achieve synergies and be able to tackle the biggest jobs."Of course the entire statement is just gobbedlygook, saying a bunch of nothing. And it is no surprise that the company never became anything close to a recycling powerhouse. RXAC was, however, successful in its endeavors as a printing press and during the year 2010, when a slew of press release supported the divestiture of insider shares, the number of shares issued and out increased by 468%. Since November 2010, in spite of a slew of emails announcing acquisitions and agreements, nothing more has been heard form the company. Naturally, every one of those announcements was just hogwash amounting to nothing. In spite of the purported acquisition of a "state of the art system allows for the efficient, secure processing of all incoming materials to scrap yards", and a "Federal Maritime Commission License, Federal Maritime Commission Bond and Tariff for Non-Vessel Operating Common Carrier", no tangible asset value was ever recorded in any financials, up to and including the latest financials filed on June 30, 2013. That means that ASAB still has nothing. Well except for stock certificates, of course.
We see the same zilch-o for past revenues, in spite of numerous announced agreements by RXAC to deliver metals, the hiring of a Chinese Sales Director, and "a network spanning 75 countries, including 450 cities and 1,000 individual locations, and their client base includes Fortune 500 companies". We aren't expecting things to improve under the ASAB ticker either. From Allerayde's inception on January 12, 2012 to June 30, 2013, the company booked a grand total of $16,289 in revenues, at least according to their last quarterly filing. We'll probably hear more about the new pretend plans that they've conjured up when they'll tell us about the wonderful outlook for the company, purely in support of the new Pump & Dump campaign, when press releases will just coincidentally again start being released, probably tonight.
Ah, but to the present. The old recycling business is gone and now ASAB is in the medicine injection pen business. According their own filings, this one man operation,
"is engaged in the business of developing and manufacturing an innovative anaphylaxis pen product and other consumer health care products for allergy and eczema patients. Our founder, Mr. Rhodes introduced into the UK market Epipen, the existing anaphylaxis pen brand leader in the 1990s, and sold it to the National Health Service (“NHS”) since 1993, and Epipen are available through prescriptions from physicians. Subsequently, Mr. Rhodes developed his own anaphylaxis pen, Anapen. In 2000, Mr. Rhodes sold the rights of manufacturing and distributing Anapen to Lincoln Medical. Since 2008, Mr. Rhodes continued researching the market and identifying possibilities for potentially re-entering the market with a new solution to the management of anaphylaxis."Sounds like a huge undertaking, for founder and on-again, off-again President, Michael Rhodes, but then, ASAB is a one man operation, with no reported assets and few revenues, so how huge can it be? And if it was really significant, would it really take over such a dirty ticker as the old RXAC is? Of course it wouldn't. In the end, we'll probably see a short spurt in the share price of this stock scam from its current and inexplicable $90 million market cap, but we expect the spurt to be very short and shares to be in the red in quick order, ala BDPS and RDI's other recent team-up schemes, MULI, BLUF, GLCO, and ZPPB, all of which died very quickly and painfully.