ASHEVILLE, N.C., July 14, 2005 (PRIMEZONE) -- Homeland Integrated Security Systems, Inc. (Pink Sheets:HISC) is pleased to announce that it has received a commitment from Capital Resource Funding, Inc. to provide commercial financing services. Capital Resource Funding will provide purchase order and receivables financing to fund Homeland Integrated Security Systems' current growth projections.
"The funding programs that CRF facilitates will empower HISC to acquire orders and offer payment terms, where the only restrictions are their client's trade limits. With government orders, HISC will truly have unlimited funding capabilities on all approved purchase orders," said David Koran, President, Capital Resource Funding.
This type of financing will enable HISC to accept new orders, regardless of size, and have the funding available to cover any up front costs necessary to fill each order. Furthermore, this will allow HISC to offer attractive payment terms to their current and future clients, without having any potential credit limit issues. Purchase order financing rates range from 3% to 6% of the purchase order amount, and receivables financing ranges from 1% to 2.5% per 30 days.
Capital Resource Funding, Inc., located in Charlotte, NC, has multiple years experience in the commercial finance industry. David Koran has a banking background with First Union (now Wachovia Corp.) and BB&T.
Homeland Integrated Security Systems recently announced that it received a blanket purchase order from Pro Sec, a Middle Eastern security company, for 5000 Cyber Trackers at a base price of $499.99 per unit. The order translates to $2.5 million for the hardware, which does not include subsequent fees for the software and service. Homeland Integrated Security Systems will begin shipments to Pro Sec in the fourth quarter of 2005.
"The Purchase Order financing from Capital Resource will assist us with our most recent Purchase Order, as well as help us to continue to finance our growth and profitability," stated Frank Moody, CEO of Homeland Integrated Security Systems.
About Homeland Integrated Security Systems
Homeland Integrated Security Systems, Inc. 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.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. Homeland Integrated Security Systems, Inc. is a development-stage company that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.