Homeland Integrated Security Systems Updates Progress on Refocused Strategy in Letter to Share Holders
By Market Wire
Last Update: 10/31/2006 8:31:34 AM Data provided by
ASHEVILLE, NC, Oct 31, 2006 (MARKET WIRE via COMTEX) -- Homeland Integrated Security Systems, Inc. (PINKSHEETS: HISC) announced today that the Company has posted an updated letter to share holders on its website, www.hissusa.com. In the letter, Fred Wicks, President and CEO of Homeland Integrated Security Systems, updates the share holders on progress that has been made in the areas of product development, organizational structure, expansion and profits since new management took control in July.
Mr. Wicks also uses the letter to explain the dividend in Evans Systems, Inc. (EVSY). Homeland Integrated Security Systems share holders of record on October 20, 2006 will receive 1 new share of restricted stock in Evans Systems, Inc. for every 50 shares of HISC they owned on the record date. Homeland Integrated Security Systems share holders will maintain the same number of shares in HISC while receiving the dividend shares in the NASDAQ Bulletin Board Company. The pay date for the dividend is October 30, 2006.
According to Mr. Wicks, "This dividend is a milestone accomplishment for the share holders of HISS. The board has overcome numerous obstacles to achieve this goal and now will set out to bring value to its shareholders."
Evans Systems, Inc. is a bulletin board company with a strategy to acquire private companies with unique products and/or technologies. Some of these companies will be "spun off" as separate public companies with Evans retaining a minority ownership. Other companies will be integrated into Evans as permanent operating divisions.
Evans Systems, Inc. (EVSY) recently announced that the company had signed a Letter of Intent to acquire TeleCents Communications, Inc. (TCI) of Michigan for $13 million in cash and stock considerations. TCI (www.telecents.com) is a privately held telecommunications company that provides Voice Over Internet Protocol (VoIP) services, internet based call-on demand, and pre-paid, PIN based calling card services.
The parties have completed due diligence and expect a closing to occur on or before November 30, 2006. TeleCents sales in 2005 were $10,599,000. TCI is projecting 2006 sales to be approximately $11,300,000.
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. Cyber Tracker technology has applications for data and tracking functions across numerous verticals, utilizing IDEN, GSM, and Satellite technologies.
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.
SOURCE: Homeland Integrated Security Systems Inc.
