SOURCE: Homeland Security Corporation

April 08, 2011 06:00 ET

Homeland Security Corporation Announces 75% Reduction of Authorized Shares

NEWPORT BEACH, CA--(Marketwire - Apr 8, 2011) - Homeland Security Corporation (PINKSHEETS: HSCC), a leading innovator of surveillance driven technologies, announces that on March 31, 2011, the Company, pursuant to a Board Meeting, filed a corporate resolution with the State of Nevada in order to reduce its authorized share amount by 750 million, from one billion (1,000,000,000) to two hundred fifty million (250,000,000). The total reduction is complete and has become effective. This action along with the NOBO/OBO Shareholder Report (11/05/10) is in keeping with management's pledge to increase transparency and build long term value for the company's shareholders.

David L. Shade, Chairman and CEO, Homeland Security Corporation, said, "The company believes that the overall value of Homeland Security Corporation has a tremendous upside and we will strive to reflect that value in HSCC's stock price. This significantly reduced number of authorized shares is more closely reflective of our shares outstanding and float, putting HSCC in a more favorable position to attract new investors." For a detailed description of the NOBO/OBO shareholder composition, http://www.homelandsecuritycorporation.com/investor.php?investors_id=18

Homeland Security Corporation, based in Newport Beach, CA, is an emerging leader in bringing technology and engineering together to create innovative solutions for customers through surveillance technologies, process management, and industrial automation. For the latest HSCC updates Twitter @homelandseccorp

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.

Contact Information

  • Contact:
    Homeland Security Corporation
    David L. Shade
    949-250-1592
    Email Contact