American Scientific Resources Gets $10M Equity Line with Southridge Partners

WESTON - American Scientific Resources has announced that it is has signed a $10 million Equity Line Agreement with Southridge Partners.

Dr. Christopher F. Tirotta, Chief Executive Officer and Chairman of American Scientific Resources said, "We are pleased to have secured this equity line with Southridge, a forward thinking institutional investor which provides future flexibility in capital raising. We plan to use the proceeds, as needed from the agreement, to support the international roll-out of our new VeraTemp Non-Contact thermometer."

"We are excited to be ASR's investment partner in this new phase of the company's development. Southridge is committed to working with ASR as it expands its revenue channels with its two proprietary products," said Stephen Hicks, CEO and Chairman, Southridge LLC.

American Scientific Resources is a purpose-driven consumer product manufacturer specializing in the clinical, home healthcare, infant and juvenile product industries. The Company sources and designs innovative health and safety products, develops advanced technology and intellectual property and distributes product through established relationships and channels both in-house and through its ever growing network of leading global healthcare distributors and retailers. Brands under the ASR umbrella include Kidz-Med, Disintegrator Plus, VeraTemp and Mebby.