American Security Resources Corp. (ARSC)

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St. George to Resume Funding ARSC

Nov 30, 2009 11:44:00 AM
Copyright Business Wire 2009
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HOUSTON--(BUSINESS WIRE)-- American Security Resources Corporation (Pink Sheets: ARSC) announced today that it has reached agreement with the St. George Fund to resume funding ARSC under a new schedule.

Frank Neukomm, CEO of ARSC, explained, "St. George originally provided us funding in February of 2008, but the financial meltdown adversely affected their ability to continue. They have provided us with a proposal to resume funding at a lower level which is acceptable. We hope to see the first tranche in early December."

Neukomm continued, "We intend to use the first funds to get back on track with our financial filings and then finish the certification process for the HydraStax(R) fuel cell at our Hydra subsidiary."

American Security Resources Corporation

ARSC is a holding company developing and acquiring technologies that will advance the development of clean energy. ARSC, through its Hydra subsidiary, is developing high efficiency, mass producible hydrogen fuel cells. Its American Hydrogen subsidiary is commercializing several technologies to produce hydrogen inexpensively.

For more information, please see: www.americansecurityresources.com

Safe Harbor 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 actual results will meet or exceed such expectations.


Source: American Security Resources Corporation

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American Security Resources Corporation
Frank Neukomm or Bob Farr
713-465-1001
[e-mail]