WESTON, Fla., July 21 /PRNewswire-FirstCall/ -- American
Scientific Resources, Inc. (the "Company" or "ASR")
(Pink Sheets: ASFX) announces today that the Company has received
final commitment for a $3 million
purchase order financing facility from Hartsko Financial Companies
for the purpose of sales order fulfillment only.
American Scientific Resources has been a trusted source as an
innovator in providing unique health and safety-related products
that help children and their families lead healthier, happier and
safer lives.
The Company's newly manufactured Non-Contact Thermometers
including the Kidz-Med 5-in-1 consumer model and the VeraTemp
5-in-1 professional model, which utilize the latest in technology
as a trauma-free, no-touch way to take a temperature quickly and
easily, are scheduled to hit the market during the third quarter
2010.
Dr. Christopher Tirotta, CEO of
American Scientific, commented, "Having non-dilutive financing
available at this progressive stage in the Company's timeline not
only improves our operational cash position but also provides
assurance to current and new vendors that their PO's will be
delivered on time."
He continues, "This is not a line of credit. We will begin
using the financing very shortly and look forward to enjoying the
stability this financing affords our growing company."
Hartsko will have a security interest in the financed inventory.
ASR urges shareholders who would like to be on the Company's
Newsletter E-mail List in order to receive all ASR updates to visit
the ASR website homepage at www.americansci.com to sign-up.
About Hartsko Financial Companies
Hartsko Financial Companies specializes in purchase order
financing for well-managed small to mid-sized companies. The
company offers letter of credit financing, trade financing,
obtaining sufficient capital, reduction of foreign risk,
preservation of equity and speed of funding solutions. The
company was founded in 2003 and is based in Bayside, New York. For more information
on the company, visit www.hartsko.com.
About American Scientific Resources, Inc.
American Scientific Resources, Inc. is both an operating company
and the holding company for wholly owned subsidiary, Kidz-Med.
The Company sources and designs innovative health and safety
products, develops intellectual property and distributes through
established relationships and channels both in-house and through
its ever growing network of proven global healthcare
distributors.
For more information, visit the corporate web site at
www.americansci.com and the Company's subsidiary Kidz-Med at
www.kidzmed.com.
Safe Harbor
This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements contained in this release that are not historical
facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are
inherently uncertain. Actual performance and results may
differ materially from that projected or suggested herein due to
certain risks and uncertainties including, without limitation,
ability to obtain financing and regulatory and shareholder
approvals for anticipated actions.
This press release does not constitute an offer to sell any
securities or a solicitation of an offer to purchase any
securities.
Contact
|
|
American Scientific Resources
Investor Relations
|
|
E-mail IR@americansci.com
|
|
Or call 561-948-4863
|
|
|
SOURCE American Scientific Resources, Inc.