Published:
ICOP Secures $5 Million in New Financing
LENEXA, Kan., Nov. 11 /PRNewswire-FirstCall/ -- ICOP Digital, Inc.
(Nasdaq: ICOP), an industry-leading company engaged in advancing digital
surveillance solutions, today announced that it has secured a new $5 million
credit facility which includes an accounts receivable purchasing component and
inventory financing that will serve to replace the Company's former line of
credit withKansas-based Equity Bank. Advances from the new line of credit
will be used for general working capital purposes to include the repayment of
indebtedness to Equity Bank.
"ICOP is delighted to be partnering with a financial partner with the
capabilities, experience and financing capacity necessary to meet our needs.
The payoff of Equity Bank has been completed, freeing us to concentrate solely
on achieving our strategic growth objectives," stated Dave Owen, Chairman and
CEO of ICOP. "We greatly appreciate the time and effort our new lender spent
to understand our business and market opportunities and look forward to
working with them in the months ahead."
About ICOP Digital, Inc.
ICOP Digital, Inc. (Nasdaq: ICOP) operates on the core principle that
'without local security, there is no national security.' It endeavors to
protect people, assets and profits for communities with innovative, mission-
critical security, surveillance and communication solutions. The Company
engineers, manufactures and markets mobile and stationary surveillance
products for use in the public and private sectors, and facilitates the
delivery of live video to first responders. (GSA Contractor)
The ICOP Model 20/20(R)-W, ICOP's flagship, award-winning product, is the
leading digital in-car video recorder system for law enforcement. The ICOP
20/20 VISION(TM) is a digital video recorder which integrates the robust
functionality of the ICOP Model 20/20-W into law enforcement agencies'
existing Mobile Data Terminals (MDTs) - laptops in law enforcement vehicles -
thereby delivering full, high performance capabilities controlled through an
officer's MDT via keyboard or touch screen interface. ICOP LIVE(TM) delivers
live streaming video to and from first responder vehicles and headquarters,
empowering first responders with enhanced real-time situational awareness and
actionable intelligence, optimizing the outcome of a crisis. ICOP LIVE
delivers live video wirelessly to first responders over any wireless network
and to multiple internet enabled Windows(R) devices simultaneously. The ICOP
Model 4000(TM), ICOP's newest advanced surveillance solution, is the next
generation school bus/transit/rail/fixed-base DVR system. The ICOP Model 4000
provides recording of up to eight video/audio inputs at full resolution at
30fps. In addition, the ICOP Model 4000 boasts many advanced and innovative
features and capabilities, such as fully integrated wireless solution, gigabit
Ethernet, an embedded web interface and many others.
For more information, please view the following video presentations at
www.ICOP.com/2020video.htm and www.ICOP.com/veil.html, or visit 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 Company may
experience significant fluctuations in future operating results due to a
number of economic, competitive, and other factors, including, among other
things, our reliance on third-party manufacturers and suppliers, government
agency budgetary and political constraints, new or increased competition,
changes in market demand, the performance or reliability of our products, our
ability to draw funds and meet obligations under the new line of credit, and
our ability to regain compliance with Nasdaq listing standards. These factors
and others could cause operating results to vary significantly from those in
prior periods, and those projected in forward-looking statements. Additional
information with respect to these and other factors, which could materially
affect the Company and its operations, are included in certain forms the
Company has filed with the Securities and Exchange Commission.
For more information, contact: For Investor/Media Relations:
Laura E. Owen, COO & President Elite Financial Communications Group
16801 West 116th Street Dodi Handy, President and CEO
Lenexa, KS 66219 USA Tiffany Korkis or John Morrison,
Phone: (913) 338-5550 Directors of Elite Media Group
Fax: (913) 312-0264 Phone: (407) 585-1080
Lowen@ICOP.com ICOP@efcg.net
www.ICOP.com
SOURCE ICOP Digital, Inc.
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Copyright © 2009, NewsBlaze,
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