Homeland Security Capital Corporation (OTCBB:HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief and security solutions to government and commercial customers, announced that its subsidiary, Safety and Ecology Corporation (SEC), has received notification from the United States Small Business Administration’s Office of Hearing and Appeals (OHA), that SEC is not in violation of the small business size qualification and ruled in SEC’s favor on the size determination protest. As stated in the OHA official announcement issued on January 12, 2011, “OHA publishes a redacted version of the decision for public release,” and the conclusion states that the company SEC “is a small business.” As previously announced in a HOMS press release dated August 16, 2010, SEC proactively defended a protest made by the unsuccessful bidders, as they were disputing SEC’s business size under the rules of the Small Business Administration (SBA). “We are extremely pleased with the ruling, as it has been difficult for all companies involved. Communications, business development and strategic planning becomes complicated during litigation, therefore we are continuing to move forward, and are eager to put this behind us,” said C. Thomas McMillen, Chairman and CEO of HOMS. Due to this determination, DOE was able to move forward with two procurements that were upheld pending the SBA ruling. As such, DOE officially awarded SEC two contracts, both of which were published on the federal business opportunities (FBO.gov) website on December 22, 2010. SEC was awarded the DOE Office of Environmental Management West Valley Demonstration Project (WVDP) environmental characterization and support services contract. Under this Indefinite Delivery/Indefinite Quantity (IDIQ) single award contract with an estimated contract ceiling of $25M, SEC will perform environmental characterization support services including, but not limited to soil, sediment and groundwater characterization, environmental monitoring, and associated regulatory documentation supporting decommissioning activities at WVDP. This five year project is located within the Western New York Nuclear Service Center owned by the New York State Energy and Development Authority.
The second contract was officially awarded to SEC, from the DOE Office of Environmental Management, for the Nationwide Multiple Award Small Business set-aside IDIQ contract. SEC is one of the twelve companies that are eligible for contract awards for future work to be performed at various DOE sites. The total value of the cleanup projects can reach up to $926 million over five years. Task orders may include environmental remediation services, deactivation, decommissioning, demolition, removal of contaminated facilities services, waste management and regulatory services.“We are extremely grateful for the decision, and look forward to continuing to perform work to move the DOE missions forward,” said Christopher Leichtweis, President of Homeland Security Capital Corporation and CEO of SEC. About Safety and Ecology Corporation Safety and Ecology Corporation (SEC) is a rapidly growing environmental services company in the U.S., providing services nationally, in Europe and the Caribbean. The Company specializes in the removal and remediation of hazardous nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, and other federal agencies. SEC also provides advanced environmental services for private industry across the country and internationally. Since its founding in 1991, SEC has grown approximately 30 percent per year, and has emerged as a technology innovator with more than 450 personnel worldwide and with annual revenues of more than U.S. $70 million. For more information on SEC, visit www.sec-tn.com. About Homeland Security Capital Corporation (HOMS) Homeland Security Capital Corporation is a company engaged in the strategic acquisition, development, and consolidation of homeland security-related businesses, within the fragmented homeland security industry. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management. The company is headed by former Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4 th Congressional District of Maryland. HOMS operates businesses that provide homeland security products and services 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 homeland security opportunities. HOMS’s portfolio of companies, in addition to SEC, includes:
Nexus Technologies Group, a mid-Atlantic security integrator for the corporate and governmental security markets that specializes in non-proprietary integrated security solutions including access control, alarm, video, communication, perimeter protection and bomb and metal detection security systems. Utilizing cutting-edge technologies, Nexus provides innovative, engineered and scalable solutions to effectively protect people, property and assets. For more information about Nexus, visit www.nexusna.com.Polimatrix, Inc., a system integrator and total solutions provider delivering advanced radiation and nuclear protection and detection services. The company has been operating since September 2006 as a joint venture between Homeland Security Capital Corporation and Polimaster, Inc. For more information about Polimatrix, visit www.polimatrix.com. For more information about Homeland Security Capital Corporation, visit www.hscapcorp.com. Forward-Looking Statement This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future activities, performance, events or developments, are forward-looking statements. Although HOMS believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements.