This paper presents a design for an asynchronous FIFO (First In First Out) buffer that utilizes gray code pointers and includes additional safety status signals for enhanced usability. The design is implemented and synthesized using Verilog HDL on a Basys 2 Spartan-3E FPGA board, achieving a maximum frequency of 146.864 MHz. Key features include parameterized memory addressing, synchronization of read and write pointers, and prevention of overflow and underflow conditions.