ASHEVILLE, N.C., Aug. 1, 2005 (PRIMEZONE) -- Homeland Integrated Security Systems, Inc. (Pink Sheets:HISC) today announced that it has released its second quarter 2005 financials for period ending June 30, 2005. Homeland Integrated Security Systems reported a Net Profit of $6,441 for the quarter, which was an increase of $259,339 over the first quarter of the year. For the same period the Company's assets grew by over 75 percent to a total of $2,144,606. Sales for the second quarter grew by 19.8 percent to $237,133. As noted in the Financial Notes, which accompanies the financials, Sales Backlog increased to over $8,000,000 for hardware alone, with deliveries expected to start the fourth quarter of 2005.
"We are satisfied with our sales this quarter, but we expect our sales to start growing substantially in the third and fourth quarter as our product delivery schedules are met on the Cyber Tracker and as orders are shipped," stated Frank A. Moody, II, CEO of Homeland Integrated Security Systems, Inc.
Green Tree Financial and the company's CPA are in the final stages of preparing the audits for the company to be up-listed to the NASDAQ Bulletin Board.
"The OTCBB is the market of choice among small businesses. It offers most of the advantages of the Big Boards at a lower cost of entry and maintenance. As compared to the Pink Sheets, it offers increased credibility, liquidity, market awareness, etc. In fact, the Securities and Exchange Commission examines the SB-2 Registration Statement of each company that applies for up-listing, and grants its' blessing after a thorough review process. Homeland Integrated Security Systems will be prepared to file the SB-2 within a couple weeks of receiving the financial audit from its PCAOB certified auditing firm," stated Mike Bongiovanni, Green Tree Financial.
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
Safe Harbor: 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.