American Security Resources Forms Fuel Cell Holding Company.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 ) has launched Hydra Fuel Cell Corporation (Hydra), a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. , to function as the holding company for ARSC's fuel cell operations. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Joe Grace, President of ARSC, "Once we complete our audit and acquisition of our interest in EGO Design Inc., we want to be prepared to quickly take advantage of the many commercial and military applications for this self-contained modular energy source." American Security Resources recently signed a Letter of Intent to acquire 49% of EGO Design which has developed proprietary, silicon-based, printed circuit board sized, hydrogen fuel cell technology, for which ARSC will have the exclusive licensing and marketing rights. The principals of EGO Design believe the 5KW to 40KW fixed power market niche could generate sales of $1 billion annually to the company within 8 years. About American Security Resources Corporation American Security Resources Corp. is a holding company actively seeking to acquire profitable, well-managed companies that provide products or services for homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States or national defense. The company is currently in discussions to acquire several companies. 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 results will meet or exceed such expectations. |
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