SOURCE: ICOP Digital, Inc.

ICOP Digital, Inc.

December 08, 2009 09:35 ET

ICOP Achieves 81% Warrant Conversion of ICOPZ Warrants

LENEXA, KS--(Marketwire - December 8, 2009) - ICOP Digital, Inc. (NASDAQ: ICOP), an industry-leading company engaged in advancing digital surveillance technology solutions, today announced that over $3,000,000 was raised from the recent conversions of the ICOPZ warrants. The warrants expired and ceased to trade on December 2, 2009. The exercise price of the Class B warrants was $0.42 per share and traded under the symbol NASDAQ: ICOPZ.

ICOP also extended a three trading day broker protect period for any trades of the ICOPZ warrants that occurred through the expiration date. The Company received gross proceeds of $3,063,305 from the exercise of warrants covering 7,293,583 shares of common stock, and representing an 81% conversion of the ICOPZ warrants. The additional funds will primarily be used for inventory and general corporate expense.

"This significant additional cash infusion in combination with our continuing focus on cash management and streamlined operations will allow the Company to continue executing against the current business plan, pursuing strategic relationships and focusing on large opportunities to drive value for the Company and its shareholders. We are extremely pleased with the conversion rate on these warrants and I'd like to personally thank our investors for their continued support of ICOP," said Dave Owen, Chief Executive Officer at ICOP.

About ICOP Digital, Inc.

ICOP Digital, Inc. (NASDAQ: ICOP) is a leading provider of in-car video and mobile video solutions for Law Enforcement, Fire, EMS, Military, and Transportation markets, worldwide. ICOP solutions help the public and private sectors mitigate risks, reduce losses, and improve security through the live streaming, capture and secure management of high quality video and audio. www.ICOP.com

Forward-Looking Statements

This document contains forward-looking statements. You should not rely too heavily on forward-looking statements because they are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. This, plus other uncertainties and factors described in our most-recent annual report and our most-recent prospectus filed with the Securities and Exchange Commission, could materially affect the Company and our operations. These documents are available electronically without charge at www.sec.gov.

Contact Information

  • For more information, contact:
    Melissa K. Owen
    Dir. of Communications
    16801 West 116th Street
    Lenexa, KS 66219 USA
    Phone: (913) 338-5550
    Fax: (913) 312-0264
    Email Contact
    www.ICOP.com

    For Investor Relations:
    DC Consulting, LLC
    Daniel Conway
    Chief Executive Officer
    Phone: (407) 792-3332
    Email Contact
    Email Contact