American Security Resources Corp. Announces Plan to Increase Shareholder Equity
HOUSTON, TX / ACCESSWIRE / April 20, 2015 / American Security Resources Corp (PINKSHEETS: ARSC) is excited to announce that ARSC has begun a "Three
Step Plan" to get the Company back on track to success.
In Step One, the Company brought its financial data current through public disclosure on OTC Markets. Corporately, ARSC also amended its Articles of Incorporation and Corporate Bylaws to create various series of Anti-Dilutive Convertible Preferred Shares. These securities will soon become available to common shareholders.
Step Two, moving forward, is to start reorganizing the debt on the Company's balance sheet so that ARSC becomes debt free. Also, American Security Resources Corp. intends to register its securities to become an OTCBB company.
Step Three of the plan is to enhance shareholders' equity by acquiring profitable businesses and or assets, using the Convertible Preferred Shares as currency.
Frank Neukomm, CEO of American Security, said "The 'Three Step Plan' is necessary to attract new investment into ARSC. We hope to restore investor confidence by removing affiliate and non-affiliate debt; registering our new shares with the SEC; filing audited financial statements and increasing shareholders' equity on the balance sheet."
He further stated, "We have a new legal and consulting team of very qualified professionals that is helping us implement this strategy and who will have more dialogue with our investors as we attain milestones moving forward."
About American Security Resources Corporation
American Security Resources (PINKSHEETS: ARSC) is a holding company whose subsidiary, American Hydrogen Corp., is seeking new technologies to economically refine and purify hydrogen for the commercial market. ARSC also owns effective control of Hydrogen Future Corp. (PINKSHEETS: HFCO) from the sale of Hydra Fuel Cell Corp. in April 2014.
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information, please contact:
Frank Neukomm, CEO or Bob Farr, COO
info@amsrcorp.com
713-465-1001 (leave message)
SOURCE: American Security Resources Corp
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