NEWPORT BEACH, CA - Homeland Security Corporation announced today that the Board of Directors have entered into negotiations with a merger with Global Access Technologies, Inc.
Global Access Technologies, Inc. incorporated in Nevada in 2002, as International Biometrics, Inc. was formed to integrate computers, Wireless Communications, GPS, and Biometrics as their core products. Global Access Technologies, Inc. is a successful and prominent manufacturer and solution integrator in the "Asset Tracking" industry. With assets of over $5 Million dollars and 800 existing shareholders. The Company has developed and owns "Proprietary" software for 3 core GPS tracking units. With "Proprietary" value estimated at over $15 Million dollars, the company's products have the capacity to follow when, where, and how an Asset is moved, in "real time." Latest projections from the government predict a $20 Billion dollar market in 2006. Its current product mix not only works domestically but globally in the International markets.
Company Chief Executive Officer, David L. Shade, states, "We are very excited to enter into the first phase of negotiations to merge with Global Access Technologies, Inc. This puts us one step closer in becoming a leader in the expanding GPS Asset tracking market. This potential merger puts us in a position to capitalize on the expanding markets in the First Quarter of 2006 and makes Homeland Security Corporation a dominant player in the 'Telemetric' industry."