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Defense Stocks; United Protection Security Group Inc. (TSX-V: UZZ) - Q2 RESULTS |
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Security
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Written by Investor Ideas
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Monday, 30 August 2010 20:55 |
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EDMONTON - August 31, 2010 (www.Investorideas.com newswire) - S.Jorstad, Chairman and Chief Executive Officer of United Protection Security Group Inc. (UPSG or the Company), (TSX-V:UZZ) announces that the Company has released its interim financial and operating results for the second quarter ended June 30, 2010.
S.Jorstad stated, "As we expected, we continue to regain profitability during Q2 following the unusual weakness of the 2009 results. Revitalizing the British Columbia business unit is our most important priority and we made solid progress executing a business improvement plan that includes improving pricing, capturing significant cost improvements and developing a marketing strategy to increase market share. Meanwhile, we are reaping the rewards from having a diversified customer portfolio as our electronic security division in Q2 delivered the same profit level as Q1-2010. Results this year are from organic growth only as no revenue stream have been realized from the acquisition of NoGo NoTow franchising relationship as it is still in the pilot project marketing phase. Several key relationships have been established and I expect promising results in the future from this acquisition." |
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Cogent Inc ( COGT ) |
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Security
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Written by Editor
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Monday, 30 August 2010 10:24 |
3M to Acquire Cogent Inc.
Acquisition Broadens Biometric Security Solutions
3M (NYSE:MMM), and Cogent Inc. (NASDAQ:COGT ) announced today that they have entered into a definitive agreement for 3M’s acquisition of Cogent Inc. for $10.50 per share. The proposed transaction has an aggregate value of approximately $943 million, or approximately $430 million net of cash acquired. Cogent Inc., commonly referred to as Cogent Systems, provides finger, palm, face and iris biometric systems for governments, law enforcement agencies, and commercial enterprises.
The agreement provides for a subsidiary of 3M to commence a tender offer to purchase all outstanding shares of Cogent Systems within ten business days.
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ICx Technologies Inc ( ICXT ) |
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Security
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Written by Editor
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Monday, 16 August 2010 09:12 |
FLIR Systems Announces Agreement to Acquire ICx Technologies
FLIR Systems, Inc. (NASDAQ:FLIR) announced today that it has entered into a definitive merger agreement pursuant to which it has agreed to acquire ICx Technologies, Inc. (NASDAQ:ICXT) for an aggregate cash purchase price of approximately $274 million. As of June 30th, ICx had a cash balance of approximately $38 million.Under the terms of the merger agreement, a subsidiary of FLIR will commence a cash tender offer to purchase all of the outstanding shares of ICx common stock for $7.55 per share in cash and will acquire any ICx shares not purchased in the tender offer in a second-step merger at the same price per share paid in the tender offer. The tender offer is conditioned on the tender of at least a majority of the outstanding shares of ICx common stock, calculated on a fully diluted basis, and other customary closing conditions. Wexford Capital LP and its affiliates, which together own approximately 62% of the outstanding shares of ICx common stock, have entered into a tender and support agreement whereby they have agreed to tender all of their shares in the tender offer, subject to the ICx Board of Directors' continued recommendation of the transaction. The boards of directors of FLIR and ICx have approved the merger agreement.
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ICOP Digital Inc ( ICOP ) |
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Security
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Written by Editor
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Wednesday, 11 August 2010 08:09 |
US Homeland Security Selects ICOP
First Phase of In-Car Video Project Awarded
ICOP Digital, Inc. (NASDAQ: ICOP), an industry-leading company engaged in advancing digital surveillance technology solutions, today announced the receipt of an initial order for the ICOP Model 20/20(R)-W in-car video systems from the US Department of Homeland Security. Due to the security nature of the project, ICOP agreed not to release details of the project until the Department releases its own press release. The order will outfit just over one hundred (100) vehicles, and will include recording of mobile video/audio, wireless uploading, live streaming video capability, and ICOP's video management software.
"Ease of use and the quality of the recorded video were the deciding factors in the selection of ICOP. This is an example of our shift in focus to key accounts and use of our products outside the standard police agency. This project is a significant advance for ICOP. ICOP is proud that our equipment will play a major role in helping to secure our nation," said Dave Owen, Chief Executive Officer at ICOP.
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United Protection Security Group Inc. (TSX-V: UZZ) - $5 MILLION EQUITY LINE FACILITY AGREEMENT |
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Security
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Written by sandihop
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Sunday, 11 July 2010 23:17 |
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EDMONTON - July 12, 2010 (www.Investorideas.com newswire) - Fredy Ramsoondar, CFO and Executive Vice President of United Protection Security Group Inc. (UPSG or the Company), (TSX-V: UZZ), announces that the Company has entered into an agreement providing for an Equity Line Facility (“ELF”) with Dutchess Opportunity Cayman Fund Ltd., a fund managed by Dutchess Capital Management, II LLC. Under the terms of the ELF, Dutchess has committed to provide up to $5 million of capital during the next three years, at the Company's discretion, through the issue of common shares.
"This new equity line facility gives us a flexible and inexpensive access to capital to support our growth initiatives." said F.Ramsoondar, Chief Financial Officer of the Company. "By demonstrating access to capital and the sequential improvement of our financial performance we are sending a clear and positive message to our shareholders". |
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