A group of creditors filed an involuntary petition for liquidation under Chapter 7 against American Scientific Resources, Incorporated in the US Bankruptcy Court for the Southern District of Florida on February 27, 2012. The total claim amount of the petitioning creditors was $0.87 million plus interest. The petitioning creditors are represented by Lori V. Vaughan of Trenam, Kemker, Scharf, Barkin, Frye, O'Neill, & Mullis, PA and Paul Rachmuth of Gersten Savage LLP as their legal counsels.