Replies to post #36168 on American Security Resources Corp. (ARSC)

[_mmech]

I think this is the doc (a PR release, still nothing filed with SEC):

ARSC Enters LOI to Acquire iVoice for Spinoff of Hydra Fuel Cell to Shareholders

HOUSTON, Dec 07, 2010 (BUSINESS WIRE) -- American Security Resources Corp.(Pinksheets: ARSC) has signed a Letter of Intent to acquire iVoice (OTCBB:IVOI) as a merger vehicle to spinoff its wholly owned subsidiary, Hydra Fuel Cell Corporation (www.hydrafuelcell.com ), in a special dividend to the shareholders.
The merger of IVOI and Hydra is subject to due diligence and the conclusion of a definitive agreement between the companies and is expected to close on or before the middle of January, 2011.

A previous plan approved by ARSC's Board calls for a significant investment directly into Hydra before the spinoff. The spinoff will be submitted to the shareholders in a proxy which will describe the transaction and contain the ratio of Hydra shares to ARSC shares for the dividend. The company expects to have the details of the spin-off in a proxy shortly after the closing with IVOI. After the spinoff Hydra's stock will trade independently.

The dividend will be paid in shares of the new stock (woopee!)
As the initial mereger with IVOI is due this week, I'm dubious it will actually happen anytime soon- remember we're still waiting for delivery of 1 fuel cell promised in October, 2010!.

As for IVOI, they are currently one MM from no-bid themselves

[nothingventured]

you can build a fuel cell like this in your garage in a few days. this (hydra)is a joke!!!

[toohip4u]

yes your shares will spike in value due to th emerger. but i dont think you will get any div if you dont hold arsc

but your ceo will get % of hydra i think for the merger