HISC – SOLD 309MM SHR AT $0.0036/SHR (~1/10 PUBLIC STOCK PRICE)IN 1Q2006
Homeland Integrated Security Systems, Inc. (PK:HISC) disclosed in financial statements for the quarter ended March 31, 2006 that the Company issued 309 million shares of common stock during the quarter at a price per share of $0.0036 for total proceeds of $1.117 million in a private stock offering (during the first quarter Company’s public market stock traded in a range of $0.029 to $0.056).
HISC had 1.17 billion common shares outstanding on a primary basis at 03/31/06, and 2.78 billion common shares outstanding on a fully diluted basis (assuming the conversion of Convertible Preferred Stock into Common Stock).
The Company’s financial statements are available on the Pink Sheets website at www.pinksheets.com.
The following is an excerpt from the Company’s first quarter 2006 report:
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HOMELAND INTEGRATED SECURITY SYSTEMS, INC.
Consolidated Financial Statements (Unaudited)
March 31, 2006
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF
HOMELAND INTEGRATED SECURITY SYSTEMS, INC.
MARCH 31, 2006 (UNAUDITED)
NOTE 2 – STOCKHOLDERS’ EQUITY
For the three months ended March 31, 2006, the Company issued 308,760,547 common
shares in exchange for $1,117,044 pursuant to a private stock offering.
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