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[QUOTE]Originally posted by atleast: [QB] HMSC .0012 Tuesday, October 31 2006 9:04 AM, EST -------------------------------------------------------------------------------- Homeland Security Capital Corporation Announces Plans for Reverse Stock Split and Application for Nasdaq Listing PR Newswire "US Press Releases " ARLINGTON, Va., Oct. 31 /PRNewswire-FirstCall/ -- Homeland Security Capital Corp. (OTC Bulletin Board: HMSC) announced today that its board of directors has authorized a reverse stock split of its common stock to allow the company to qualify for listing of its common stock on the Nasdaq Capital Market (formerly known as the Nasdaq SmallCap Market). The reverse split will take effect no later than March 31, 2007 with a record date to be announced. Upon the effect of the reverse split, the company intends to immediately file an application with Nasdaq. The authorized reverse split ratio will be within the range of 1-for-200 to 1-for-1,000. The reverse split would affect all the shares of common stock, both authorized and issued, including shares underlying stock options, warrants and any instruments convertible into common stock. The company will not issue any fractional shares of its new common stock as a result of the reverse split. Instead, the company will pay cash for the value of the fractional shares to the holders thereof. C. Thomas McMillen, chairman and CEO of Homeland Security Capital Corp., said, "We believe the reverse split will have the effect of increasing both the visibility and marketability of our stock to potential new investors and should give institutional investors the ability to hold our shares as we continue to pursue our business strategy." About Homeland Security Capital Corporation Homeland Security Capital is a consolidator in the fragmented homeland security industry. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management. The company is headed by former Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland. Homeland Security Capital intends to operate businesses that provide homeland security products and services solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on homeland security opportunities. The company will enhance the operations of these companies by helping them generate new business, grow revenues and improve cash flows. For more information, visit http://www.hscapcorp.com. An investment profile of Homeland Security Capital may be found at http://www.hawkassociates.com/hmscprofile.aspx. For investor relations information regarding Homeland Security Capital, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info*hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. Forward-looking statement: This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future activities, performance, events or developments, are forward-looking statements. Although Homeland Security Capital Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Company Contact: Homeland Security Capital Corp. C. Thomas McMillen (703) 528-7073 tmcmillen*hscapcorp.com Investor Relations: Hawk Associates Inc. Frank Hawkins or Julie Marshall (305) 451-1888 info*hawkassociates.com SOURCE Homeland Security Capital Corporation [/QB][/QUOTE]
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