Walkin' around with your ass out like you don't give a fuck.
Dude pull up your pants
Hell no, I'm asses out!
to be out of luck; left without something.
if you get to the dinner table five minutes late, you will be ass out. those kids are hungry!
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The chicas get in for free, the rest o' you bustas is all assed out.
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Lost out, lost out on something. or your fucked, meaning you blew it, or your doomed.
(exam. "That kid got caught at the wrong place and the wrong time, he's assed out").
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I was recently involved in the filming of a video for an upcoming fundraiser and I was being filmed on camera. It had been a few hours of recording and doing different takes and the director said, "no passing out". I thought he said, "no assing out" and began to scratch my head but, laugh none the less. I thought he meant something like keep it together, don't act all crazy. We have now adopted this word into our vocabulary and thought we would share it.
Keep it together we are in a restaurant, "no assing out".