American Security Resources Corp. Achieves Critical Financial Milestone.HOUSTON -- American Security Resources Corporation (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 ) today announced the achievement of a significant funding milestone in the development of its HydraStax(TM) fuel cell technology. "We agreed to provide a minimum of $500,000 in funding by March 31, to our subsidiary, Hydra Fuel Cell Corp., when we acquired eGo Design, Inc. and its proprietary HydraStax(TM) technology at the end of last October," reported ARSC's President Bob Farr. "We are pleased to report to our shareholders and investors that we have exceeded this commitment. We have generated over $750,000 in new paid in capital from private placements so far in the first quarter of 2006 and expect to continue to perform ahead of schedule on our funding targets," he added. The HydraStax(TM) fuel cell is a proprietary technology owned by ARSC that increases both the efficiency and useful life of fuel cell membranes Cell membrane The membrane that surrounds the cytoplasm of a cell; it is also called the plasma membrane or, in a more general sense, a unit membrane. This is a very thin, semifluid, sheetlike structure made of four continuous monolayers of molecules. . The HydraStax(TM) design allows for the mass production of fuel cell units at cost far lower than that of competing technologies with significantly longer membrane lifespan. The company believes that the combination of high efficiency and low production cost makes its HydraStax(TM) a cost competitive, hydrogen fueled, electric generator which will significantly reduce the use of fossil fuels fossil fuel: see energy, sources of; fuel. fossil fuel Any of a class of materials of biologic origin occurring within the Earth's crust that can be used as a source of energy. Fossil fuels include coal, petroleum, and natural gas. for electric generation in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and ultimately the world. American Security Resources Corporation, "ARSC" is a holding company acquiring and developing technologies that will advance the development of alternative energies. ARSC, through its Hydra Fuel Cell Corporation subsidiary, is developing high efficiency, mass producible hydrogen fuel cells. 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 actual results will meet or exceed such expectations. |
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