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ORGANIZATION
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9 Months Ended | 12 Months Ended |
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Sep. 30, 2011
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Dec. 31, 2010
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| ORGANIZATION |
1. ORGANIZATION
American Scientific Resources, Incorporated, a Nevada corporation
(“ASRI”, together with its wholly-owned subsidiary,
Kidz-Med, Inc., the “Company”), develops, manufactures,
assembles, markets and distributes medical products sourced from
around the globe. The Company distributes a leading line
of medical and medicine delivery devices for children and sensitive
adults, including a clinical non-contact thermometer (the
VeraTemp® Non-Contact Thermometer) and a needle and lancet
destruction device (the
DisintegratorPlus®). Products are distributed
primarily through leading retail drug and grocery chains, worldwide
medical suppliers, the Company’s website and other on-line
sites. The Company’s common stock is currently
quoted on the OTCBB under the symbol
“ASFX”.
On February 11, 2011, the Company increased the number of shares of
its authorized common stock from 2.5 billion to 5.0
billion. On March 21, 2011, the Company effected a
200-to-1 reverse split of its common stock, reducing the total
amount of common stock issued and outstanding to 11,729,789 shares
on that date. The Company has retroactively adjusted
common share and per common share amounts for the effect of the
reverse split. Unaudited, pro forma weighted average
shares outstanding and net loss per share have been included on the
face of the Company’s statements of operations reflecting the
post-split effect of the reverse stock split. Common
share and per common share information in these financial
statements has generally been presented on a split adjusted basis.
On July 21, 2011, the Company reduced the amount of common shares
authorized from 5.0 billion to 500 million.
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1. ORGANIZATION
American
Scientific Resources, Incorporated, a Nevada corporation
(“ASRI”, together with its wholly-owned subsidiary,
Kidz-Med, Inc., the “Company”), develops, manufactures,
assembles, markets and distributes medical products sourced from
around the globe. The Company distributes a leading line
of medical and medicine delivery devices for children and sensitive
adults including a clinical non-contact thermometer (the Vera Temp
Non-Contact Thermometer) and a needle and lancet destruction device
(the Disintegrator Plus®). Products are distributed
primarily through leading retail drug and grocery chains, worldwide
medical suppliers, the Company’s website and other on-line
sites. The Company’s common stock is listed on the
OTCQB, and trades under the ticker symbol ASFXD.
On
February 11, 2011, the Company increased the number of shares of
its authorized common stock from 2.5 billion to 5.0
billion. On March 21, 2011, the Company effected a
200-to-1 reverse split of its common stock shares, reducing the
total amount of common stock issued and outstanding to 11,729,789
shares on that date. Pro forma shares, share issuances,
weighted average shares outstanding and net loss per share have
been included on the face of the Company’s consolidated
financial statements reflecting the post-split effect of the
reverse stock split. All other share information in
these financial statements has been presented on a pre-split basis
except where indicated.
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