(COMTEX) B: Brekford Corp. Announces the Repurchase of Common Stock and Wa
rrants ( GlobeNewswire )
B: Brekford Corp. Announces the Repurchase of Common Stock and Warrants ( GlobeN
ewswire )
HANOVER, Md., Nov 10, 2009 (GlobeNewswire via COMTEX) --
Brekford Corp. (OTCBB:BFDI), a leading homeland technology service provider
of fully integrated vehicle installation and rugged technology solutions
geared towards mission critical operations, announces the Company has
repurchased 18,910,000 shares of the Company's Common Stock and 10,000,000
Common Stock purchase warrants.
C.B. Brechin, Chief Executive Officer of Brekford, states, "The repurchase
of the Common Stock has many advantages to our investors: fewer shares,
increased return on equity and possible increased stock demand. The
repurchase of approximately one-third of the outstanding Common Stock
demonstrates the confidence we have in the Company and shows our commitment
to deliver long-term shareholder value."
The repurchase and cancellation of the 18,910,000 shares of the Company's
Common Stock decreased the Common Stock outstanding from 57,815,513 to
38,905,513 on November 4, 2009, and is anticipated to increase Net Earnings
per Share to $0.02 for the year ended December 31, 2009, compared to reported
Net Loss per Share of $(0.02) for the year ended December 31, 2008.
About Brekford Corp.
Brekford Corp. (OTCBB:BFDI) is a leading homeland technology service
provider of fully integrated vehicle installation and rugged technology
solutions geared towards mission critical operations. For more than a decade,
the company has provided services to branches of the U.S. military, various
federal entities and numerous security and public safety agencies throughout
the Mid-Atlantic region. Brekford provides these agencies with an end-to-end
suite of superior products and services designed to streamline procurement
processes and offer maximum functionality to their day to day operations.
Brekford 360 Degree vehicle solutions provides complete vehicle upfitting,
mobile data and video solutions including municipal financing and leasing
services for agencies. The 360 Degree vehicle solutions approach provides
customers with a one stop upfitting cutting edge technology and installation
service.
For more Company information, please visit www.brekford.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of
that term in Section 21E of the Securities Exchange Act of 1934, as amended.
Actual results may differ materially from the results suggested by these
forward-looking statements, for a number of reasons, including, but not
limited to, market conditions, the cost and success of development activities
and ability to successfully manage growth. Readers are referred to the
documents filed by Brekford International Corp. with the SEC, specifically
the Company's most recent reports filed on Form 10-K and Forms 10-Q, which
further identify the important risk factors which could cause actual results
to differ materially from the forward-looking statements in this release. The
Company expressly disclaims any obligation to update any forward-looking
statements.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Brekford Corp.
CONTACT: Brekford Corp.
C.B. Brechin, Chief Executive Officer
443-557-0200
cbrechin@brekford.com
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.
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