ICOP Provides Corporate Update
27 Octubre 2009 - 7:35AM
Marketwired
ICOP Digital, Inc. (NASDAQ: ICOP), an industry-leading company
engaged in advancing digital surveillance technology solutions,
today announced the exercise of 735,500 ICOPZ Class B warrants
(NASDAQ: ICOPZ) in the last week bringing in $308,910 in proceeds
to ICOP. To date, 2.9 Million ICOPZ's have been exercised bringing
in over $1.2 million in additional funds to the Company for this
offering. Currently there are 6,082,418 ICOPZ that have not been
exercised. A 100% conversion of the Class B warrants will provide a
total of $3,724,980 to ICOP.
The Class B warrants are scheduled to expire on December 2, 2009
and the Company strongly encourages all warrant holders to exercise
before they expire. In order to exercise a warrant, the warrant
holder must contact his or her broker, who will be able to
electronically exercise the warrant for common shares of ICOP
Digital, Inc. through a system operated by The Depository Trust
& Clearing Corporation (DTCC).
As previously announced, the Company filed a $25,000,000 shelf
registration statement on Form S-3 with the Securities and Exchange
Commission (SEC) on October 16, 2009. Pursuant to the shelf, the
Company may sell any combination of securities described in the
prospectus in one or more offerings, so long as the aggregate
market value of the securities sold off the "shelf" do not exceed
one-third of the company's public float in any 12 month period.
The Company has the option of selling securities off this shelf
registration statement for three years but is not required to sell
any securities at any time in that three year period. To date, no
securities have been issued off the shelf registration statement.
The Company received a "no review" letter from the SEC regarding
the S-3 shelf Registration Statement on October 23, 2009.
"Currently we have no formal plans to raise additional capital.
We believe this shelf registration statement gives us more
flexibility to access the Capital Markets, and will enable us to
respond efficiently and effectively to the financial needs as we
carry out our business plan," stated Dave Owen, Chief Executive
Officer at ICOP. "As sales traction continues to increase, ICOP
will proactively fund inventory increases and working capital by
the most economical means available," he stated.
About ICOP Digital, Inc.
ICOP Digital, Inc. (NASDAQ: ICOP) is a leading provider of
mobile and in-car 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
Safe Harbor Statement
This document contains 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.
Such statements are subject to risks and uncertainties that could
cause actual results to vary materially from those projected in the
forward-looking statements. The per share price of the Company's
common stock may experience significant fluctuations, so there can
be no assurance that holders exercising Class B warrants will
profit from such exercise. Neither can there be any assurance that
all Class B warrants will be exercised, and the Company could
therefore receive significantly less than $3.7M in additional
capital. Additional information with respect to these and other
factors, which could materially affect the Company and its
operations, are included in the Company's most recent annual report
and registration statement filed with the Securities and Exchange
Commission and which are available from the Company without charge
or at http://www.sec.gov.
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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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