ICOP Announces Registration of Additional Shares
20 October 2009 - 3:30AM
Marketwired
ICOP Digital, Inc. (NASDAQ: ICOP), an industry-leading company
engaged in advancing digital surveillance technology solutions,
today announced the filing of a Registration Statement with the
Securities and Exchange Commission (SEC) using a "shelf"
registration process.
Under this shelf process, the Company may sell (however without
obligation) any combination of securities described in the
prospectus in one or more offerings, with an aggregate initial
offering price not to exceed $25,000,000. In the event the Company
uses this funding mechanism, the net proceeds of any offering would
primarily be used for inventory and general corporate purposes.
"This registration assures that we are well positioned to manage
the anticipated increase of sales from our distributors in the
Middle East and Mexico, direct sales team and our partner
Raytheon," said Dave Owen, Chief Executive Officer at ICOP. "We
continue to evaluate all options to finance the growth of ICOP,
including such mechanisms as debt, equity and lines of credit.
Filing this registration helps to increase our options," he
stated.
In addition, ICOP has recently raised an estimated $1,000,000
through the exercise of the Class B (NASDAQ: ICOPZ) warrants to
date. Per the Company's offering last June, the Class B warrant
entitles its holder to purchase one share of common stock at an
exercise price of $0.42 per share.
In order to exercise a warrant, the warrant holder should
contact his or her broker, who will be able to electronically
exercise the warrant for common shares of ICOP Digital, Inc.
through an online system operated by The Depository Trust &
Clearing Corporation (DTCC). The Class B warrants are scheduled to
expire on December 2, 2009.
About ICOP Digital, Inc.
ICOP Digital, Inc. (NASDAQ: ICOP) is a leading provider of
in-car video and mobile video solutions for Law Enforcement, Fire,
EMS, Military, and Transportation markets, worldwide. ICOP
solutions help the public and private sectors mitigate risks,
reduce losses, and improve security through the live streaming,
capture and secure management of high quality video and audio.
www.ICOP.com
Forward-Looking Statements
This document contains forward-looking statements. You should
not rely too heavily on forward-looking statements because they are
subject to uncertainties and factors relating to our operations and
business environment, all of which are difficult to predict and
many of which are beyond our control. The Company may experience
significant fluctuations in future operating results due to a
number of economic, competitive, and other factors, including,
among other things, our reliance on third-party manufacturers and
suppliers, government agency budgetary and political constraints,
new or increased competition, changes in market demand, and the
performance or reliability of our products. This, plus other
uncertainties and factors described in our most-recent annual
report and our most-recent prospectus filed with the Securities and
Exchange Commission, could materially affect the Company and our
operations. These documents are available electronically without
charge at www.sec.gov.
For more information, contact: Melissa K. Owen Dir. of
Communications 16801 West 116th Street Lenexa, KS 66219 USA Phone:
(913) 338-5550 Fax: (913) 312-0264 Email Contact www.ICOP.com For
Investor Relations: DC Consulting, LLC Daniel Conway Chief
Executive Officer Phone: (407) 792-3332 Email Contact Email
Contact
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