Due Diligence for Investors in Homeland Resources Ltd.
We linked below, the company 10-Q filed on June 22nd, 2015 with the most recent financial data and company updates on the acquisition of Telesecurity Sciences. The form 8-K filed July 16th, 2015 announces the acquisition letter of intent has expired but the two companies were still in talks. The Barchart analysis contains all the key company statistics, data and the current charting.
Our View: The Company had indicated it was transitioning from the mining business into the imaging solutions for medical and security imaging devices and systems business of Telesecurity Sciences. Then the company announced in their 8-K filing July 16, 2015 Homeland Resources Ltd.’s agreement dated January 8, 2015, as amended, with TeleSecurity Sciences Inc. expired on July 15, 2015. The Company advises that negotiations and discussions are still ongoing with TeleSecurity Sciences Inc. (“TSS”) to acquire a division or project of TSS. Because it is anticipated that any new agreement will be on a substantial different basis, the Company determined to allow the Original Agreement to expire. The Company remains optimistic that a new agreement will be reached with TSS but there is no assurance until an agreement is actually concluded.
The company has not issued any updates or press releases since then except an 8-K filing on October 28th, 2015 discussing some financing issues it was negotiating. There is no published information to explain the increase in the company’s share price (300% since November 10th). We will wait for a company update.
HMLA – Form 10-Q – June 22, 2015
HMLA – Form 8-K – July 16, 2015
Barchart.com – Analysis – November 18, 2015
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