Homeland Security Capital Corporation (OTCBB: HOMS), a provider of title insurance, escrow, reverse mortgage, deed in lieu of foreclosure and real estate owned (REO) transactions to government and commercial customers, today reported financial results for its fiscal year 2012 first quarter ended September 30, 2011. Revenue from the continuing operations of our real estate services subsidiaries was $4.2 million in the quarter ended September 30, 2011. The net loss from continuing operations in the quarter was $0.9 million or $0.01 per share. Also included in the quarterly results is income of $2.0 million or $0.04 per share from the discontinued operations of Safety & Ecology Holdings, Inc. and Nexus Technologies Group, Inc. After giving effect to non-controlling (minority) interests and preferred dividends overall net income attributable to common shareholders for the quarter was $0.5 million or $0.01 per share. At September 30, 2011 there were 55,159,022 common shares outstanding. In July 2011, the Company completed the acquisitions of Default Servicing USA, Inc. and Timios, Inc. through a majority owned (80%) subsidiary Fiducia Real Estate Services, Inc. In August 2011, the Company completed the sale of Nexus Technologies Group, Inc. and in October 2011, the Company completed the sale of Safety and Ecology Holdings, Inc. Effectively, the Company has repositioned itself in the real estate services industry through these sales and acquisitions. C. Thomas McMillen, HOMS Chairman and CEO, stated, “We are very excited to be moving into the real estate services industry and are pleased with the results of our first quarter with our new acquisitions.” McMillen continued, “We are confident that as we continue to more fully integrate our acquisitions, we be able to achieve continued positive results.” On November 16, 2011, the board of directors of the Company unanimously approved a change of the Company’s fiscal year end from June 30 to December 31 effective immediately. The change was made to align the Company’s fiscal periods with those of its indirect subsidiaries, Default Servicing USA, Inc. and Timios, Inc., that the Company acquired through its majority-owned subsidiary, Fiducia Real Estate Services, Inc.
The Company expects to file a transition report for the six-month period of July 1, 2011 to December 31, 2011 on an Annual Report on Form 10-KT on or before March 31, 2012.The Company consolidates the results of Homeland Security Capital Corporation; majority owned Fiducia Real Estate Services, Inc. and its two wholly-owned subsidiaries Default Servicing USA, Inc. and Timios, Inc. and through December 31, 2011 the discontinued operations of subsidiaries Safety & Ecology Holdings Corporation, Nexus Technologies Group, Inc. and Polimatrix, Inc. Conference Call The Company will host an earnings conference call at 9:00 a.m. EST on Monday, November 28, 2011. During the call, C. Thomas McMillen, Chairman and Chief Executive Officer and Michael T. Brigante, Chief Financial Officer, will discuss the Company's performance and financial results. The telephone number for the conference call is 877-407-0778 (Toll Free US); and 201-689-8565 (International). A live webcast of the call will also be available on the Company's website, www.hscapcorp.com. The webcast will be archived on the site, and investors will be able to access an encore recording of the conference call for one week by calling 1-877-660-6853 (Replay Toll Free US) 1-201-612-7415 (Replay International), conference ID # 383932. The encore recording will be available after the conference call has concluded. About Homeland Security Capital Corporation Homeland Security Capital Corporation is a company engaged in the strategic acquisition, development, and consolidation of real estate services related 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 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 real estate services opportunities.
Homeland Security Capital Corporation’s portfolio of companies includes:Fiducia Real Estate Services, Inc., a provider of comprehensive title and escrow services for mortgage origination refinance, reverse mortgage, real estate owned, deed-in-lieu transactions, and real estate-owned liquidation services to institutional REO customers. These services are provided by wholly owned subsidiaries Timios, Inc. and Default Services USA, Inc. 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.