Dallas, Texas (July 19 , 2011) – StockGuru shines its Spotlight on Homeland Security Capital Corporation (OTCBB: HOMS) (“Homeland”) and Perma-Fix Environmental Services, Inc. (Nasdaq: PESI). Today a definitive signed agreement was announced to acquire Safety and Ecology Holdings Corporation (SEC) from Homeland Security Capital Corporation (OTCBB:HOMS) (“Homeland”). Under the terms of the agreement, Perma-Fix will pay Homeland approximately $24.5 million consideration, consisting of $22.0 million in cash, subject to working capital adjustments, along with a 3-year unsecured $2.5 million promissory note, bearing an annual interest rate of 6%. Simultaneous with the closing, certain key management investors of SEC will purchase approximately $1.0 million of Perma-Fix’ restricted common stock, with the purchase price for the stock to be deducted from the cash portion of the purchase price payable to Homeland. Perma-Fix expects the acquisition will be accretive to earnings, excluding any one-time acquisition-related expenses. The acquisition is subject to certain closing conditions, including financing, and is expected to be completed during the third quarter of 2011. On July 18, 2011, Homeland closed at $0.022 trading on light volume of 20,000 shares.
SEC, headquartered in Knoxville, Tennessee, specializes in the remediation of nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, and other federal agencies. The company employs more than 450 employees and, based on Homeland’s 2010 Form 10-K, generated approximately $86.0 million in revenue and $3.3 million in net income for the fiscal year ended June 30, 2010.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, “The acquisition of SEC dramatically expands our nuclear services capabilities. On a combined basis, we can now offer customers, both government and commercial, one of the broadest and most comprehensive end-to-end nuclear waste solutions in the industry. We believe that this expansion of our nuclear service capabilities, coupled with our existing nuclear waste treatment expertise, clearly places us at the forefront of the industry and should enhance our value to our customers and our shareholders. SEC brings a highly qualified management team who we feel will integrate well and complement our current management.”
Christopher Leichtweis, Chief Executive Officer of SEC, stated, “We are excited to become a part of Perma-Fix Environmental Services, a true leader and innovator in the nuclear services industry. As we unite through this transaction, our technologies and capabilities provide a much broader platform from which to grow the business, offering complete solutions to our customers.”
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc., a national environmental services company, provides unique mixed waste and industrial waste management services. The Company’s increased focus on nuclear services includes radioactive and mixed waste treatment services for hospitals, research labs and institutions, federal agencies, including the Department of Energy (“DOE”), the Department of Defense (“DOD”), and nuclear utilities. The Company’s industrial services treat hazardous and non-hazardous waste for a variety of customers including, Fortune 500 companies, federal, state and local agencies and thousands of other clients. Nationwide, the Company operates seven waste treatment facilities.
The Perma-Fix Environmental Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7172
This press release contains “forward-looking statements” which are based largely on the Company’s expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company’s control. Forward-looking statements generally are identifiable by use of the words such as “believe”, “expects”, “intends”, “anticipate”, “plans to”, “estimates”, “projects”, and similar expressions. Forward-looking statements include, but are not limited to: transaction expected to nearly double the size of Perma-Fix’ revenues; expand Perma-Fix’ nuclear services capabilities; Perma-Fix expects the acquisition will be accretive to earnings, excluding any one-time acquisition-related expenses; transaction expected to be completed during the third quarter of 2011; acquisition should enhance our value to our customers and our shareholders; and SEC’s management team will integrate well and complement our current management. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; governmental funding and satisfying the conditions precedent to closing as set forth in the Purchase Agreement, including, but not limited to, completion of definitive agreements with our lender to provide us with the financing to pay the cash portion of the purchase price and to include SEC in our working capital line of credit. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.
Please visit us on the World Wide Web at http://www.perma-fix.com.
CONTACT: David K. Waldman and Klea Theoharis-US Investor Relations
Crescendo Communications, LLC
(212) 671-1021
Herbert Strauss-European Investor Relations
[email protected]
+43 316 296 316
To view the StockGuru Spotlight on OTCBB: HOMS, please visit: http://stockguru.com/category/latest-spotlights/
To get free alerts on this and other similar stocks, please register here:
What is the StockGuru Spotlight?
Many companies covered in The StockGuru Spotlight have positive increases in both volume and share price. While this is not true in all cases, StockGuru strives to cover companies in The StockGuru Spotlight that are worth of our readers’ attention.
StockGuru looks for potential break-out candidates in The StockGuru Spotlight. Many of these companies have had recent news and appear to be getting the attention of investors. StockGuru does not typically feature companies in The StockGuru Spotlight that are compensating StockGuru for this coverage. There are times when StockGuru covers a stock in The StockGuru Spotlight that had previously compensated Stockguru. Where that is the case, a proper disclosure is included below. StockGuru and its partners, employees and writers never hold shares, short positions, warrants or any other current position in a stock featured in The StockGuru Spotlight.
To feature a company in The StockGuru Spotlight please contact the Publisher at [email protected]. If our reader is a key person for a publicly traded company, StockGuru can consider that company for either a StockGuru Spotlight or a StockGuru Profile. Please contact the StockGuru Publisher John Pentony at this email address: [email protected].
Stockguru.com (“SG”) provides its members with the latest news, press releases, and trade alerts for all the companies highlighted on the site StockGuru.com. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.Stockguru.com or mentioned herein.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. StockGuru is occasionally compensated for coverage. When this is the case, SG clearly indicates this with a disclosure of all compensation received in the past and present. Additionally SG also discloses any anticipated compensation in the future. Compensation is typically in cash. Sometimes a company pays SG in restricted shares. Pentony Enterprise and its associated companies does not take free trading shares for any reason at anytime. StockGuru is not a registered investment adviser or a broker-dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
John Pentony, Publisher, Stockguru.com
Tel: +1 469 252 3031
e-mail: [email protected]