HISC - Homeland Integrated Security Systems, Inc. Updates Shareholders on Its Progress on Delivery of July Purchase Orders for 5,000 Cyber Trackers and 200 Quantum Sniffers for a Total of $7,899,950
11/22/2005 9:35:36 AM
ASHEVILLE, NC, Nov 22, 2005 (MARKET WIRE via COMTEX) -- Homeland Integrated Security Systems, Inc. (HISC) announced today several steps that it has taken to guarantee delivery on its July 2005 purchase orders for 5,000 Cyber Trackers and 200 Quantum Sniffers for a total of $7,899,950.
As previously announced, on July 9, 2005, Homeland Integrated Security Systems Inc. received a purchase order from Pro.Sec SARL, a Lebanese security company headed by General Pierre H. Georgiou, for 5,000 Cyber Trackers in the amount of $2,499,950, and for 200 Quantum Sniffers in the amount of $5,400,000 for delivery on or before July 9, 2006. As announced on October 5, 2005, Homeland Integrated Security received a payment from Pro.Sec in the amount of $26,970.20 as a deposit for the purchase of one demonstration unit of a Quantum Sniffer.
Since the date of the purchase orders, Homeland Integrated Security Systems, Inc. has taken the following steps in its effort to deliver the purchase orders on schedule:
-On July 12, 2005, Homeland Integrated Security Systems retained the firm of Capital Resource Funding, Inc., www.capitalresourcefunding.biz, a specialist in commercial finance, to assist with obtaining purchase order and receivables financing in order to enable Homeland to contract the manufacturing and delivery of the Cyber Trackers and Quantum Sniffers for resale with respect to all of its outstanding purchase orders.
-On August 7, 2005, HISC filed an application for an export license with the U.S. Department of Commerce. Upon receipt of the export license, Homeland Integrated Security Systems will be able to begin shipments of Cyber Trackers and Quantum Sniffers to the Middle East.
-Representatives of Homeland Integrated Security Systems have been to the Middle East several times to perform demonstrations of their products on behalf of General Georgiou in order to help him sell units of Cyber Trackers and Quantum Sniffers to potential buyers in Middle East. Pro.Sec, which is operated by General Georgiou, has a Letter of Understanding with HISC to act as its exclusive sales and distribution agent for all HISC products in the Middle East.
-HISC representatives have made several trips to the Middle East including the following dates: August 8-13th , September 25-30th and November 5-21st.
-In the Middle East, representatives of HISS engaged in the following activities:
-- Attended the MADE IN AMERICA show
-- Presented its products to the United Nations
-- Presented it products to the United Nations' mission to Iraq
-- Presented its products to Ford distributors
-- Met with numerous state and government officials
-- Met with numerous private sector groups (banks, hotels and commercial
groups)
"Based upon our actions to date, we believe Homeland will have no problem meeting its delivery deadline of July 9, 2006," stated Frank Moody, Homeland Integrated Security Systems Inc. CEO.
About Homeland Integrated Security Systems
Homeland Integrated Security Systems owns proprietary technology and has the rights to use patents to some of the most innovative and sophisticated security products. Among the key target markets are the 361 commercial seaports in the U.S. which are vulnerable to criminal penetration. The company is now accepting pre-orders for the Cyber Tracker at www.hissusa.com.
For more information please visit our Web site www.hissusa.com or contact Matt Maguire 1-866 THE APPL(E).
Contact:
Matt McGuire
1-866 THE APPL(E)
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