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American Security Resources Corporation
American Hydrogen Corp. Not In Default; Working on Joint Ventures for Major Developments
June 14th, 2008
Ben Schafer, President of American Hydrogen Corporation, a subsidiary of American Security Resources Corporation (OTCBB: ARSC), stated today, "Contrary to a statement in ARSC's most recent 10-Q, we are NOT in default on our license agreement with Ohio University. While our sister company Hydra Fuel Cell Corp. was fighting its patent lawsuit we fell behind in our obligations here, but we are working with Ohio to bring them current by the middle of the summer." Schafer further stated, "We are negotiating several JV projects to commercialize the ACE technology, including the development of a 250 kilowatt ACE unit and several waste to energy projects." American Security...
Source: Law & Health Weekly (2008-06-14)
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