Houston, TX - (Accesswire - October 10, 2013) - American Security Resources Corporation (Pink sheets: ARSC) today announced that it has entered into a Letter of Intent to sell Hydra Fuel Cell Corporation to Hydrogen Future Corp (AFLB).
Frank Neukomm, CEO of ARSC, stated. "This transaction is slated to be an all-stock deal. Hydrogen Future will trade an issue of their stock for all of the shares of Hydra. The shares that ARSC will receive will eventually be distributed to our shareholders in a special dividend."
Neukomm continued, "The closing is contingent on Hydrogen Future Corp. obtaining the necessary funding to get Hydra into production."
Hydra Fuel Cell Corporation
Hydra Fuel Cell Corporation has developed a highly efficient, mass producible hydrogen fuel cell, the HydraStax[R] 5000. Hydra has demonstrated its fuel cell technology in live demonstrations.
For more information please see: http://www.hydrafuelcellcorporation.com/ .
Hydrogen Future Corporation
Formerly known as A5 Laboratories, Inc., Hydrogen Future Corporation is actively pursuing business development opportunities in clean energy with an emphasis on hydrogen related technologies.
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.
For more information, please contact:
Frank Neukomm or Bob Farr
American Security Resources Corporation