ARSC Closes Fuel Cell Acquisition.HOUSTON -- American Security Resources Corp. (OTCBB OTCBBSee 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 ) announced today that it has closed its acquisition of privately held EGO ego: see psychoanalysis. ego (Latin; “I”) In psychoanalytic theory, the portion of the psyche experienced as the “self” or “I. Design Inc. EGO Design has proprietary, silicon-based, hydrogen fuel cell technology. ARSC has created a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Hydra Fuel Cell Corporation (Hydra), to develop, manufacture and license the hydrogen fuel cell technology which it acquired in the acquisition of EGO Design. Hydra has targeted the fixed power market of 5kW to 40kW as the initial market for its fuel cells which will be the first commercially mass producible of their type. Hydra expects to have units deployed to potential customers before the end of the year. "A less than 20% penetration of the fixed power market will yield sales of over $100 million within two years," said Joe Grace, President of ARSC, "and potentially over $1 billion in sales within 8 years. This is just the first market we are going to develop for this break-through technology." About American Security Resources Corporation American Security Resources Corporation is a holding company seeking to acquire companies which have products or services for homeland defense and national security. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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 the results will meet or exceed such expectations. |
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