Message #1125 From:
Jason Date: May 29, 2008 07:43:24 AM
Homeland Integrated Security Systems Extends Letter of Intent to Acquire GPS Technology Company
Editors Note: At the current share price is it a good idea to be making acquisitions? Should HISUHomeland Integrated Security Systems do a reverse split to make its stock more attractive to potential acquisitions, and shareholders? I look forward to reading and responding to your comments!
Homeland Integrated Security Systems, Inc.
(PINKSHEETS: HISU) announced today that it has extended the projected
closing date to acquire Global Tracking Technologies™, a wireless GPS
location-based services company located in Tampa, Florida. In a revised
Letter of Intent the companies agreed to extend the deadline so both
parties have adequate time to finalize the due diligence process.
According to the Company, the due diligence period has been extended until
July 15, 2008 with an anticipated closing of August 31, 2008.
"Negotiations are progressing well, but as with any acquisition, both
parties require ample time to perform due diligence and consult with
various sources. We are seeking an agreement in the best interests of both
parties, and are very encouraged about our joint prospects for the future,"
stated Fred Wicks, CEO and President of Homeland Integrated Security
Systems.
Homeland is also aggressively developing and marketing new tracking,
monitoring and controlling products, and expects to release its new mapping
software soon. This new product will allow the company to receive recurring
monthly revenue on sales of its specific software brand.
Global Tracking Technologies™ (GTT) is a privately held, pioneering GPS
tracking solutions provider. GTT designs total system solutions including
hardware and custom software for specific customer requirements. GTT's
integrated location and communications technologies enable its customers to
obtain higher security, lower operating costs and improvements in their
overall logistics management efficiencies. For more information, please
visit: www.globaltrackingtech.com.
Homeland Integrated Security Systems owns proprietary technology in
conjunction with its Cyber Tracker product line. Cyber Tracker technology
has applications for data and tracking functions across a variety of
industries, utilizing CDMA, IDEN, and GSM technologies. In addition, the
use of satellite technology in conjunction with the Cyber Tracker is under
development. For more information, please visit the Company's Web site:
www.hissusa.com.
Statements contained in this news release, other than those identifying
historical facts, constitute "forward-looking statements" within the
meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe
Harbor provisions as contained in the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements relating to the Company's
future expectations, including but not limited to revenues and earnings,
technology efficacy, strategies and plans, are subject to safe harbors
protection. Actual Company results and performance may be materially
different from any future results, performance, strategies, plans, or
achievements that may be expressed or implied by any such forward-looking
statements. The Company disclaims any obligation to update or revise any
forward-looking statements.
