posted
By the end of next year, HMSC will have over 43 MILLION in REVENUE. Name a subpenny company that has that much coming in??? Exactly, we won't be a subpenny stock forever.
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quote:Originally posted by wildweb: I bought more....I think this thing will pop very soon, if not maybe by the end of the year. I dont want to miss the train.
looks like you're right - last transaction is for 10m x.0017 (9999900 & 100) - somebody loads for tomorrow... or it was yours? lol
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posted
not me bought mine at .0016 and it wasnt 10m...lol I hope more and more big buys come in...Like rules said wont be a sub penny forever. I expect pennyland before the end of the year.
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Entry into a Material Definitive Agreement, Financial Statements a
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. On August 21, 2006, Homeland Security Capital Corporation (the "Company") entered into a Securities Purchase Agreement with Cornell Capital Partners, LP ("Cornell Capital"), which provides for the purchase by Cornell Capital of a secured convertible debenture (the "Debenture") in the amount of $4,000,000. The Debenture is convertible into the Company's common stock, par value $0.001 per share (the "Common Stock"), based on a conversion price which shall be equal to the lesser of (1) $0.01 or (2) a ten percent discount to the lowest daily volume weighted average price of the Common Stock for the thirty days preceding conversion. The Debenture bears interest at 5% per annum and the principal amount will be payable on the third anniversary of the effective date of the Debenture. If the closing bid price of the Common Stock is trading below the conversion price at the time of the redemption notice, the Company shall pay an amount equal to the principal amount being redeemed plus a redemption premium equal to twenty percent (20%) of the principal amount being redeemed, and accrued interest. Pursuant to a Pledge and Security Agreement between the Company and Cornell Capital, issued in connection with the Debenture, the Company's obligations under the Debenture are secured by a pledge of all of its assets.
In connection with the Securities Purchase Agreement, the Company issued a warrant to Cornell Capital for 100,000,000 shares of the Company's Common Stock. The warrant has an exercise price equal to $0.01, which may be adjusted under the terms of the warrant, and has a term of five years from the date of issuance on August 21, 2006. The Company also entered into an Investor Registration Rights Agreement with the Cornell Capital pursuant to which the Company is obligated to file a registration statement covering the resale of shares of Common Stock issuable upon the conversion of the Debenture.
The foregoing is a summary of the terms and conditions of the Securities Purchase Agreement, the Convertible Debenture, the Pledge and Security Agreement, the Investor Registration Rights Agreement, and the Warrant and does not purport to be complete. The foregoing is also qualified in its entirety by reference to the above-mentioned agreements, copies of which are filed as exhibits to this Current Report on Form 8-K and are incorporated herein by reference.
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I'm no expert but from what I can tell it's basically a loan for $4 mil, secured with CDs. While you never like to see companies continuing to get loans in pennyland it seems to be the way things go. The good side of this is maybe they need the money to close out some new aquisitions.
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I look at it as an investment by Cornell Capital. They are investing $4,000,000.00 to help the company grow. Cornell is in the business to make money and they see this as a good investment for their money. Any comments?
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definately didnt think it was a bad thing if someone is willing to put up that kind of money they obviously see the potential in the company. Thx for your thoughts :-)
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Looks really good to me nice increase in revenue and even some gross profits. Really looks like they're getting the ship turned in the right direction. Couple more quarters of improvement like this and we should be looking real good.
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Homeland Security Capital Corporation Appoints William J. LaPointe as a Director of Subsidiary Security Holding Corp. Monday August 28, 8:43 am ET
ARLINGTON, Va., Aug. 28 /PRNewswire-FirstCall/ -- Homeland Security Capital Corp. (OTC Bulletin Board: HMSC - News), a company engaged in the acquisition, development and consolidation of homeland security-related businesses, announced today that it has appointed William J. LaPointe to the board of directors of its subsidiary Security Holding Corp.
LaPointe served as president for 25 years at Andover Controls, which specialized in networked building automation and security solutions. During LaPointe's tenure, Andover Controls expanded from a manufacturer of energy management products to offering a full line of electronic building controls and security products and services, becoming the leader in networked, integrated building automation and security solutions.
Prior to joining Andover, LaPointe held operations and financial management positions in the computing and defense industries. He has also served on the CoVi Technologies Board of Directors since December 2005. CoVi is a leader in the high definition video surveillance solutions industry.
C. Thomas McMillen, Homeland Security Capital chairman and CEO, said, "Bill has a strong background in the security solutions industry. A veteran industry leader, LaPointe grew Andover Controls from nine employees and less than $1 million in annual revenue to more than 650 employees and revenues of $170 million through a combination of organic growth and successfully integrated acquisitions. We believe he will be a valuable addition to the Security Holding Corp. Board of Directors."
LaPointe earned an M.S. in Accounting from Bentley College, and a B.A. degree in finance from Northeastern University.
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.
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
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In connection with the Securities Purchase Agreement, the Company issued a warrant to Cornell Capital for 100,000,000 shares of the Company's Common Stock. The warrant has an exercise price equal to $0.01, which may be adjusted under the terms of the warrant, and has a term of five years from the date of issuance on August 21, 2006. The Company also entered into an Investor Registration Rights Agreement with the Cornell Capital pursuant to which the Company is obligated to file a registration statement covering the resale of shares of Common Stock issuable upon the conversion of the Debenture.
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