ASHEVILLE, N.C., April 26, 2005 (PRIMEZONE) -- Homeland Integrated Security Systems, Inc. (Pink Sheets:HISC) announced today that the Board of Directors has authorized a Buy Back of up to a 10 Million shares of common stock by its board members between now and the end of the month.
The board members have agreed to buy the stock directly from the market based upon the various events that have already unfolded and what they believe will be happening in the near future. The board elected to make this announcement because as of this date they are not fully reporting despite retaining GreenTree Financial Group to make applications to the Nasdaq Bulletin Board or AMEX.
"The board agreed unanimously that this is an undervalued situation. We are a profitable company in an exploding industry. We should not be trading at these levels," stated Frank A. Moody, II, CEO of Homeland Integrated Security Systems, Inc.
Homeland Integrated Security Systems recently released its year end un-audited financials for period ending December 31, 2004. Home Land Integrated Security Systems reported a Net Profit of over $550,000 for the year end. Sales for the year ended December 31, 2004 were $2,061,856 with Gross Profit for year ended December 31, 2004 of $1,585,051 Expenses for the year were less than $1,000,000 and the company reported a Net Operating Profit of $585,666.
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. One of the key target markets is the 361 commercial seaports in the U.S. which are vulnerable to criminal penetration. For more information go to 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 who 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.