OCT 27, 2009 - 09:35 ET
FOR: ICOP DIGITAL, INC.
ICOPZ Warrants Set to Expire 12-2-09
LENEXA, KS--(Marketwire - October 27, 2009) - 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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