iVoice, Inc. Announces Acquisition of American Security Capital Corporation
HOUSTON, TX -- (Marketwire) -- 01/29/13 -- IVoice, Inc. (PINKSHEETS:
IVOI) announced today that the Company has acquired American Security
Capital Corporation ("ASCC") in order to provide financing and
leasing services to the alternative energy industry. In an effort to
salvage some value for IVOI and its shareholders, the Company
accepted an offer from American Security Resources Corporation to
exchange the Company's ownership of Hydra Fuel Cell Corporation
("Hydra") for all of the ASCC shares and a note of $100,000. American
Security Resources Corporation still controls the Company through its
ownership of Preferred Stock shares in the iVoice, Inc.
"iVoice, Inc. acquired Hydra in an exchange of debt securities in
December of 2011 and took control in January of 2012. Between the
December close date and the January change of control, the Company's
previous management issued the remaining authorized Common Stock
shares subsequently leaving the Company unable to finance itself and
unlock Hydra's market opportunity," stated Norris Lipscomb, CEO of
iVoice, Inc. "This transaction allows us to provide value to iVoice,
Inc. shareholders while at the same time limiting the capital
About iVoice, Inc.
iVoice, Inc. (traded under "IVOI"), is a publicly traded company in a
developmental stage that previously engaged in the communications
industry as well as the "green" industry associated with hydrogen
About American Security Resources Corp.
American Security Resources Corp. (traded under "ARSC,"
http://www.americansecurityresources.com) owns and develops unique
intellectual property related to hydrogen fuel cells and business
activities to help speed their implementation, funding, and sales. In
early 2012, ARSC took control of iVoice, Inc.
Safe Harbor Statement
The statements in this release that relate to the Company's
expectations with regard to the future impact on the Company's
results from new products in development are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The results anticipated by any or all of these
forward-looking statements may not occur. The Company undertakes no
obligation to publicly release the result of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof, or to reflect the occurrence of
unanticipated events or changes in the Company's plans or
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