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ARSC Settles Golden Gate Litigation

^{Published on 2010-08-02 06:35:47 - Market Wire}
 

HOUSTON--([ BUSINESS WIRE ])--American Security Resources Corporation (Pink Sheets:ARSC) announced today that it has settled the pending litigation filed December 15, 2009 by Golden State Equity (formerly known as Golden Gate Investors) and the lawsuit has subsequently been dismissed.

"We are pleased to have this distraction behind us and are looking forward to focusing on the matters at hand as we move into production."

Bob Farr, President and COO of ARSC, stated aWe are pleased to have this distraction behind us and are looking forward to focusing on the matters at hand as we move into production.a

American Security Resources Corporation

ARSC is a holding company of clean energy technologies. ARSC, through its Hydra subsidiary, is developing high volume, mass producible hydrogen fuel cells. Its American Hydrogen Corp. subsidiary is developing methods to inexpensively formulate hydrogen. For more information, please see: [ www.americansecurityresources.com ].

Safe Harbor Statement

This news release contains certain aforward-looking statementsa 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.