Replies to post #17823 on American Security Resources Corp. (ARSC)

[jimstock]

I'm thinking about PRODUCTION news: ARSC Receives First Tranche from St. George, Appoints New Auditors

Date : 01/22/2010 @ 9:52AM

American Security Resources Corporation (Pinksheets: ARSC) announced today that it has received the first tranche of funding from the St. George Fund under their new funding agreement. The funding agreement requires ARSC to bring its SEC filings current and in compliance with SEC rules and regulations within 90 days. Once ARSC is in regulatory compliance, it will apply to have its shares re-listed on the OTCBB. To accomplish this, ARSC is pleased to announce that it has retained the PS Stephenson & Co., CPA’s as the Company’s certifying accountants to complete the 2008 and 2009 audits of ARSC’s financials.

PS Stephenson & Co., CPA’s is a mid-sized public accounting firm with its principal office in Wharton, Texas, and satellite offices in Houston and LaGrange, Texas. The firm is a professional corporation consisting of licensed CPA’s and is a member of PCAOB, AICPA’s and the Texas Society of CPA’s.

Bob Farr, President and COO of ARSC, stated, “After our filings are current St. George is prepared to step up their funding levels to help us achieve our production goals. We met with the accountants
this week and believe that we can have 2008 filed by the first part of March and 2009 filed on time in April.” Farr continued, “We expect to start commercial fuel cell production as soon as our JV with Comentum is funded which they tell us is very soon. The JV will fund against our existing $21 million purchase order backlog.”

“After the very difficult time we’ve experienced since late 2008, we’re gratified to be ramping up our activities again with St. George’s and Comentum’s investments. We have also been working with a New York broker-dealer to fund the spinoff of Hydra that we have been planning since last April,” Farr concluded.

http://ih.advfn.com/p.php?pid=nmona&article=41222775&symbol=NO^ARSC

[Rob N the Market]

See this is exactly the point that needs to be exposed with these bashers. They call investors dumb sheep. They are not interested in the investors good will, simply continually making attempt's to scare away new investors. This company is a risk but ARSC has never been this accurate and prompt with the filings and keeping their word of their PRS.

Do your own DD and see.