HOUSTON, TX / ACCESSWIRE / November 30, 2015 / American Security Resources Corp. ("ARSC") ("the Company") (OTC PINK: ARSC) announced today that it has reached agreement with holders of more than $2,100,000 of its debt to exchange their obligations for the Company's $2.50 Convertible Preferred Stock.
"We will complete the swap of the debt for convertible preferred shares before year end so the reduction of debt and increase in equity will be reflected in our 2015 10-K," states Frank Neukomm, CEO of ARSC. "This is a boost to our shareholders and an endorsement by these debt holders of our current business plans. We have reduced debt and interest expense, increased shareholders’ equity and done it in a way that doesn’t dilute our common shareholders," concluded Neukomm.
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 preferred stock that gives it effective ownership of 50.1% of the common stock of Hydrogen Future Corp. (OTCQB: HFCO) from the sale of Hydra Fuel Cell Corp. in April 2014. The Company has also announced plans to acquire income producing properties and is in the process of placing an issue of $5.00 5% Cumulative Preferred to fund the first acquisitions.
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.
Contact:
Frank Neukomm, CEO
Or
Bob Farr, COO
713-465-1001
info@amsrcorp.com
