NEWPORT BEACH, CA--(Marketwire - 05/24/10) - Homeland Security Corporation (Pinksheets:HSCC - News) announced today that its Board of Directors has authorized the repurchase of the Company's Common Stock. The program was initiated in the fall of 2009 and continues in 2010. Open market repurchases will continue based on optimum market conditions.
David Shade, Chairman and CEO of HSCC, stated, "The outlook for strong financial performance of our business, combined with increasing cash flows, enables us to take this action. We will continually evaluate all alternatives to increase shareholder value, including dividends and investments to grow our business. We find no better investment than our own company." The goals of the share repurchase program are simple:
1. Reduce the free Shares;
2. Minimize or eliminate market inconsistencies concerning HSCC share price;
3. Increase Shareholder value
Homeland Security Corporations Commitment to Shareholders:
To create long term shareholder value through superior financial performance driven by the delivery of a diversified range of innovative customer focused products, services, and, supported by an operating culture based on the highest levels of teamwork, efficiency and integrity. The value behind Homeland Security Corporation's name lies in its tireless effort to challenge the ongoing threats facing the great Nation today. Homeland Security Corporation does not believe in coddling terrorists, nor will it tolerate "naked" shorting of its stock.
About Homeland Security Corporation Homeland Security Corporation is a leading innovator and implementer of security driven technologies that can be deployed in any environment to meet a client's security needs. Our primary mission is to protect people, property, infrastructure and our client's high value assets, by mitigating threats. For more information visit the Company's website at: www.homelandsecuritycorporation.com.
Included in this release are certain "Forward-Looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding Homeland's performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those anticipated.
The total shares outstanding for Homeland Security Corporation HSCC are 189,225,065 shares outstanding with 58,384,800 shares free trading (Float) and 130,840,265 restricted (held by insiders) with 1,000,000,000 shares authorized. http://www.homelandsecuritycorporation.com/investor.php
Pinksheets.com has the updated float at 40,000,000 shares (April 23,2010)
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