Hydra Merger Partner IVOI Starts Countdown With SEC Filing
2011年6月8日 - 3:50AM
American Security Resources Corporation (Pink sheets:ARSC) today
provided a preliminary timeline for the merger of Hydra Fuel Cell
Corporation with iVoice, Inc.(Pink Sheets:IVOI).
Frank Neukomm, CEO of ARSC, stated, "With the filing of their
information statement with the SEC late last week, IVOI has started
the clock for the merger with Hydra. There is a minimum 10 day
waiting period at the SEC followed by a 30 day period dictated by
IVOI's by-laws. At the end of that period the merger can complete
as soon as Hydra completes its financial audits for the years 2009
and 2010. Our auditors are working on those now."
Neukomm continued, "At the time of the merger, ARSC will have
majority voting control of IVOI. It will be recapitalized and the
name changed to Hydra Fuel Cell Corp., after which we will dividend
the Hydra shares to ARSC's shareholders at an expected ratio of one
(1) share of new Hydra stock for each 150 current shares of ARSC.
We expect that the value of Hydra is such that its initial trading
range could be between $0.08 and $0.16 per share."
Hydra Fuel Cell Corporation
Hydra Fuel Cell Corporation has developed a highly efficient,
mass producible hydrogen fuel cell, the HydraStax® 5000. Hydra has
demonstrated its fuel cell technology in live demonstrations from
which it received more than $20,000,000 in purchase orders.
Currently Hydra is in the process of delivering its first
commercial fuel to Liberty Towers.
Preliminary testing indicates that a HydraStax® fuel cell using
natural gas as the source of hydrogen can produce a kilowatt of
electricity for less than $0.10.
For more information please see: www.hydrafuelcell.com .
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.
CONTACT: Frank Neukomm or Bob Farr
American Security Resources Corporation
713-465-1001
info@amsrcorp.com
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