Homeland Security Capital Corporation (OTCBB: HOMS), a national provider of real estate services to banks, financial institutions and mortgage lenders announced today the acquisition by its subsidiary Timios, Inc. of Glenn County Title Company (“GCTC”), pending regulatory approval from the California Department of Insurance. Located in Willows, California, GCTC is a privately held title company servicing businesses and residents within Glenn County, California since 1891.
C. Thomas McMillen, CEO of HOMS commented, “This acquisition is our first step in allowing us to begin to serve the California market which will expand our coverage area and continue to grow our revenue.” McMillen added, “California is the largest title and escrow market in the country and we are pleased to start the process of offering our services in this market.”
Trevor Stoffer, CEO of Timios, Inc. commented, “I am excited to announce our entry into the California market with the acquisition of GCTC. GCTC has an excellent history of dedication to their customers. We look forward to leveraging our technology service model to expand and support their clients and welcoming Richard Thomas, President of GCTC, to our executive management team.”
Richard Thomas, President of GCTC added, “We are excited to partner with Timios, Inc. and bring new technology and services to our highly valued clients within Glenn County California.”The Company consolidates the results of its 80% owned subsidiary Fiducia Real Estate Services, Inc., which owns 100% of Timios, Inc., Timios Appraisal Management, Inc. and Default Servicing USA, Inc. About Homeland Security Capital Corporation Homeland Security Capital Corporation is a company engaged in the strategic acquisition, development, and consolidation of real estate service businesses. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management. Former Maryland Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland, heads the company. Homeland Security Capital Corporation operates businesses that provide real estate products and service solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on growth opportunities.
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