ASHEVILLE, N.C., Oct. 24, 2007 (PRIME NEWSWIRE) -- Homeland Integrated Security Systems, Inc. (Pink Sheets:HISC) announced today that it has received a new trading symbol, HISU, in conjunction with its previously announced recapitalization of the Corporation. Trading of the new Homeland Integrated Security Systems common shares will take effect at the open of business on October 24, 2007. The company will continue to trade as a Pink Sheets company under the symbol HISU.
The company also reaffirmed that it will submit a proposal to shareholders for a name change to GlobalTek Corporation as part of its strategy to better position the company for future growth and an uplift to the OTC Bulletin Board. Once on the OTC Bulletin Board, management plans to evolve GlobalTek into a holding company with the current Homeland Integrated Security Systems operations as one operating division. The company plans to acquire or merge with companies that have unique products and/or technologies and solid growth potential.
"Cyber Tracker technology continues to be a state-of-the-art device in the rapidly evolving machine-to-machine monitor and control applications," stated Fred Wicks, CEO and President of Homeland Integrated. "Many companies can offer asset tracking solutions. Few can offer the 'smart' capabilities of the Cyber Tracker. We are currently working diligently to reach the multitude of applications that can benefit from our solution. We are getting very positive responses to our technology and are confident that it will soon result in increased sales."
About Homeland Integrated Security Systems:
Homeland Integrated Security Systems owns proprietary technology in conjunction with its Cyber Tracker. Cyber Tracker technology has applications for data and tracking functions across a variety of industries, utilizing IDEN, and GSM technologies. In addition, CDMA and Satellite technologies are under development with release expected some time in late 2007 or early 2008. For more information please visit our website www.hissusa.com.
Safe Harbor: This letter contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.