Homeland Integrated Security Systems Board Retires 450 Million Shares Wednesday April 27, 8:30 am ET
ASHEVILLE, N.C., April 27, 2005 (PRIMEZONE) -- Homeland Integrated Security Systems, Inc. (Other OTC:HISC.PK - News) is pleased to announce that the Board has approved the retirement of 450 Million shares which will dramatically reduce the outstanding share total by more than 45%. ADVERTISEMENT
The board believes the decision to retire the shares will result in a positive restructuring of the company's stock without a reverse split. Currently there are approximately 950,000,000 shares outstanding, after the retirement there will only be 500,000,000. Management believes that the retirement coupled with positive earnings should result in much higher stock prices.
``We have no intention of doing a reverse split. The board believes the retirement of shares will suffice and should result in a better reflection of our earnings per share once we are approved for the Nasdaq Bulletin Board or AMEX,'' stated Frank A Moody, II, CEO of Homeland Integrated Security Systems, Inc.
Homeland Integrated Security Systems recently released its year-end un-audited financials for period ending December 31, 2004. Homeland Integrated Security Systems reported a Net Profit of over $550,000 for the year end. Sales for the year ended December 31, 2004 were $2,061,856 with Gross Profit for year ended December 31, 2004 of $1,585,051, Expenses for the year were less than $1,000,000 and the company reported a Net Operating Profit of $585,666.
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. One of the key target markets is the 361 commercial seaports in the US which are vulnerable to criminal penetration. For more information go to http://www.hissusa.com
For more information please visit our website http://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.
Contact: Homeland Integrated Security Systems Matt Maguire 1-866 THE APPL(E)
-------------------------------------------------------------------------------- Source: Homeland Integrated Security Systems, Inc.
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