> ASHEVILLE, N.C., April 27, 2005 (PRIMEZONE) -- Homeland Integrated Security Systems, Inc. (Pink Sheets:HISC) is pleased to announce that the Board has approved the retirement of 450 Million shares which will dramatically reduce the outstanding share total by more than 45%.
The board believes the decision to retire the shares will result in a positive restructuring of the company's stock without a reverse split. Currently there are approximately 950,000,000 shares outstanding, after the retirement there will only be 500,000,000. Management believes that the retirement coupled with positive earnings should result in much higher stock prices.
"We have no intention of doing a reverse split. The board believes the retirement of shares will suffice and should result in a better reflection of our earnings per share once we are approved for the Nasdaq Bulletin Board or AMEX," stated Frank A Moody, II, CEO of Homeland Integrated Security Systems, Inc.
Homeland Integrated Security Systems recently released its year-end un-audited financials for period ending December 31, 2004. Homeland Integrated Security Systems reported a Net Profit of over $550,000 for the year end. Sales for the year ended December 31, 2004 were $2,061,856 with Gross Profit for year ended December 31, 2004 of $1,585,051, Expenses for the year were less than $1,000,000 and the company reported a Net Operating Profit of $585,666.
About Homeland Integrated Security Systems:
Homeland Integrated Security Systems owns proprietary technology and has the rights to use patents to some of the most innovative and sophisticated security products. One of the key target markets is the 361 commercial seaports in the US which are vulnerable to criminal penetration. For more information go to www.hissusa.com
For more information please visit our website www.hissusa.com or contact Matt Maguire 1-866 THE APPL(E)
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. Homeland Integrated Security Systems, Inc. is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Homeland Integrated Security Systems Matt Maguire 1-866 THE APPL(E)
Posts: 218 | Registered: Oct 2004
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Just crossed 0.01 ...volume 36 000 000 !!! WOW, I own 1/10000 of the company ;-)
Posts: 218 | From: Grungteb | Registered: Nov 2004
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HISC dipped today. Good time to buy. Article below from Port Security Website.
Primary emphasis on nations increased awareness of the need for port security due to Katrina.
Two potential pieces of news to be reseased soon. 1. New Contracts 2. Move to OTC:BB
U.S. PUBLIC PORTS WELCOME MUCH NEEDED SECURITY FUNDS
DHS Announces Nearly $142 Million In Awards To 36 Port Areas
ALEXANDRIA, VA (September 13, 2005) – The American Association of Port Authorities (AAPA), the organization representing public ports throughout the Western Hemisphere, welcomes the announcement today by the Department of Homeland Security (DHS) that it will provide $141.97 million in federal grants to help 36 U.S. port areas address physical security enhancements at their facilities.
The majority of this round’s grant funds went to the public sector, including seaports. According to a DHS press release, matching funds from the private sector totaled $33 million, leaving a projected 77 percent of the grant monies for public facilities.
Funds are also being provided through this program for U.S.-inspected passenger vessels and ferries. This year, the Port Security Grant program’s focus was on what DHS determined to be the highest risk ports, with a priority on addressing threats from explosives and non-conventional threats that would cause major disruption to commerce and significant loss of life. Only 66 port areas were deemed “eligible” to apply for this round, leaving many ports to fend for themselves.
Hurricane Katrina has helped bring the nation’s attention to the critical role that seaports play in handling trade, ranging from imported oil, coffee and steel, to exports of corn, soybeans and wheat. Communities and ports are now working with responsive agencies such as the U.S. Coast Guard, Maritime Administration, Army Corps of Engineers and the National Oceanic and Atmospheric Administration to quickly get affected waterways and marine facilities operational again. While Katrina was a natural disaster, the Port Security Grant program helps seaports prevent and respond to catastrophic terrorist events which could cause similar or greater damage and possibly close targeted ports long-term.
According to DHS, funds will be held in reserve for ports impacted by Katrina until proposed security projects are ready to be implemented.
This is the fifth time that DHS has released port security grant funds since initiating the program after Sept. 11, 2001. Including this most recent announcement, DHS has given port facilities and vessels approximately $707 million in security grants, including $75 million from DHS’ Urban Area Security Initiative program. However, according to AAPA President/CEO Kurt Nagle, the need is much greater.
“DHS limited this latest round of grants to only 66 seaports. Even though this is a smaller group of eligible ports than in previous rounds, less than one-third of the dollar amount they requested was awarded,” said Nagle. “Sixty-nine percent of what eligible ports said they need to safeguard their facilities couldn’t be awarded because the program is so underfunded.”
Nagle is also critical of the way DHS narrowed port eligibility in this latest round of security grants. He said terrorists might view the list of ineligible ports as potentially easier targets than those eligible for grant money. “We need to avoid even the perception that there’s a soft underbelly of underprotected ports that could make our country more vulnerable to terrorism.”
To better protect ports against acts of terror, AAPA has called for a funding level of $400 million a year to harden security at all seaports that need to comply with the Maritime Transportation Security Act (MTSA). Congress is currently debating the final agreement on the Fiscal Year 2006 Department of Homeland Security budget, which will provide funds for the Port Security Grant program’s sixth round. AAPA is urging Congress to support the Senate’s appropriation recommendation of $200 million, rather than the House’s recommendation of $150 million.
The American Association of Port Authorities was founded in 1912 and today represents 150 of the leading public port authorities in the United States, Canada, Latin America and the Caribbean. In addition, the Association represents 300 sustaining and associate members, firms and individuals with an interest in the seaports of the Western Hemisphere. AAPA port members are public entities mandated by law to serve public purposes. Port authorities facilitate waterborne commerce and contribute to local, regional and national economic growth.
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