Homeland Integrated Security Systems and Global Tracking Technologies(TM) Complete Initial Stage of Due Diligence
* Reuters is not responsible for the content in this press release.
ARDEN, NC, Apr 17 (MARKET WIRE) --
Homeland Integrated Security Systems, Inc. (PINKSHEETS: HISU) announced today
that it has completed the initial due diligence process with Global Tracking
Technologies(TM) of Tampa, Florida. Previously, Homeland announced that it had
signed a Letter of Intent to acquire Global Tracking Technologies, LLC of
Tampa, Florida, a rapid growth wireless GPS location-based services company.
With
completion of the initial due diligence, a formal contract is expected to be
signed within two weeks with a closing anticipated by June.
"At this point we are pretty much on schedule in our acquisition process,"
stated
Fred Wicks, CEO and President of Homeland Integrated Security Systems. "Both
companies have placed a high priority on completing this transaction by June."
"We look forward to completing this process as soon as possible," stated
Floyd
Raynard, CEO of Global Tracking Technologies. "We have very significant
opportunities developing for us over the next few months and working together
will help us maximize this potential."
About Homeland Integrated Security Systems:
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 our website www.hissusa.com.
About Global Tracking Technologies(TM):
Global Tracking Technologies(TM) (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 our website
www.globaltrackingtech.com.
Safe Harbor: This letter contains certain forward-looking statements
withinthe meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and uncertainty,
including without limitation, the ability of the Company to successfully
implement its turnaround strategy, changes in costs of raw materials, labor,
and employee benefits, as well as general market conditions, competition and
pricing. Although the Company believes that assumptions underlying
forward-looking statements contained herein are reasonable, any of the
assumptions could be inaccurate, and therefore, there can be no assurance that
the
forward-looking statements included in this letter will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking
statements included herein, the inclusion of such information should not be
regarded as representation by the Company or any other person that the
objectives and
plans of the Company will be achieved. In assessing forward-looking
statements included herein, readers are urged to carefully read those
statements.
When used in the Annual Report on Form 10-K, the words "estimate,"
"anticipate,""expect," "believe," and similar expressions are intended to be
forward-looking statements.
Contact:
Homeland Integrated Security Systems
Investor Relations
828-681-5152 ext. 114
http://www.hissusa.com
Copyright 2008, Market Wire, All rights reserved.
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