SOURCE: ICOP Digital, Inc.

ICOP Digital, Inc.

June 02, 2009 17:09 ET

ICOP Digital Announces Closing of Secondary Offering

LENEXA, KS--(Marketwire - June 2, 2009) - ICOP Digital, Inc. (NASDAQ: ICOP), an industry-leading company engaged in advancing digital surveillance technology solutions, announced today the completion of a secondary offering with gross proceeds of $2,990,000. This offering is scheduled to close on Friday, June 5, 2009. ICOP has granted Paulson Investment Company, Inc., a wholly owned subsidiary of Paulson Capital Corp. (NASDAQ: PLCC), an option to exercise up to 97,500 additional units through the Green Shoe option. If exercised, this could raise an additional $390,195.

The units are composed of twelve (12) shares of common stock (NASDAQ: ICOP) and twelve (12) warrants (NASDAQ: ICOPZ), at an offering price of $4.60 per unit. Each warrant has a six-month term with an exercise price of $.418.

"I want to personally thank Paulson and all our investors for their continued confidence in ICOP, as I know we are all looking forward to a successful remainder of 2009," stated Dave Owen, Chairman and Chief Executive Officer of ICOP Digital.

About ICOP Digital, Inc.

ICOP Digital, Inc. (NASDAQ: ICOP) protects people, assets and profits through its surveillance and communications solutions for the public and private sectors. The ICOP Model 20/20®-W is the leading digital in-car video system for law enforcement. ICOP DVMS™ and ICOP iVAULT MMS™ (enterprise) server software solutions store and manage video files. The ICOP Model 4000™ mobile digital video system records video from transit and school buses, and rail. ICOP LIVE™ delivers real-time situational awareness from mobile or fixed cameras (live video to a first responder vehicle and/or to headquarters), helping to optimize the outcome of a crisis. www.ICOP.com (GSA Contractor).

About Paulson Investment Company, Inc.

Paulson Capital Corporation is the parent company to Paulson Investment Company, Inc. Headquartered in Portland, Oregon, Paulson Investment Company, Inc. is the Northwest's largest independent brokerage firm and a national leader in public offerings of small and emerging growth companies with capital needs of $5 million to $45 million. Founded by Chester "Chet" Paulson in 1970, it has managed or underwritten 163 securities offerings and has generated more than $1.2 billion for client companies. The firm's enduring success stems from its ability to recognize emerging industry trends and from supporting emerging companies pioneering positive change and advancements in those related markets.

With 37 branch offices throughout the country, Paulson Investment Company, Inc. aims to earn and build trust with retail and select institutional investors through highly customized financial portfolio management, diversified financial products and service offerings and effective administration and execution of investment strategies that specifically address individual risk tolerance levels. In addition, Paulson Investment Company, Inc.'s brokerage clients look to the firm for compelling new investment ideas in the small and emerging growth markets.

Safe Harbor Statement

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. 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, the performance or reliability of our products, our ability to draw funds and meet obligations under the new line of credit, our ability to regain compliance with Nasdaq listing standards, any failure to achieve anticipated sales levels. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the Company and its operations, are included in certain forms the Company has filed with the Securities and Exchange Commission.

Contact Information

  • For more information, contact:
    ICOP Digital, Inc.
    Melissa K. Owen
    Dir. of Communications
    Phone: (913) 338-5550
    Email Contact

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