ARSC Addresses Erroneous "Form 3" Filings.HOUSTON -- American Security Resources Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARSC ARSC Arctic Region Supercomputing Center ARSC Association for Recorded Sound Collections ARSC Accounting and Review Services Committee ARSC Aircraft Repair and Supply Center (USCG) ARSC Arizona Remote Sensing Center ) President and COO, Bob Farr, stated today, "Last week several individuals filed SEC Forms 3, Initial Statements of Ownership indicating substantial holdings of ARSC stock at no cost to the filers. The Forms 3 also indicated in one individual's case, one Dexter Morris, that he was Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ARSC. These filings are completely contrary to fact. None of the filers is known to ARSC and none are on the certified shareholders list for the periods stated and none are on the NOBO NOBO (Non-Objecting Beneficial Owner) A beneficial ("street") security holder who has not objected to his or her name being released to the Corporation, if the Corporation so requests. list." "The filings are clearly erroneous. We are examining our options to address this issue," said Farr in summation summation n. the final argument of an attorney at the close of a trial in which he/she attempts to convince the judge and/or jury of the virtues of the client's case. (See: closing argument) . American Security Resources Corporation ARSC is a holding company actively seeking to acquire companies and technologies that will advance the development of alternative energies. ARSC, through its Hydra Fuel Cell subsidiary, has developed a high volume, mass producible hydrogen fuel cell. Its American Hydrogen Corp. subsidiary is developing a method to inexpensively formulate hydrogen from ammonia. For more information, please see: www.americansecurityresources.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This news release contains certain "forward looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934.Although the Company believes the expectations reflected in such forward looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations. |
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