Global Ecology Corporation completes $4 million sale of GPS technology.(BUSINESS)

Wireless Satellite and Broadcasting Newsletter, September, 2008

Homeland Security Network, doing business as Global Ecology Corporation (GEC), announced that it has successfully completed the sale of its GPS Technology to Global Safety Holdings (GSH).

Under the financial terms of the sale, GEC will receive a minimum of $4 million over GSH's initial three or more years of operation. GEC also will receive 3,111,111 shares (10 percent of current issued and outstanding) of GSH, which can be diluted only by a third-party cash infusion. Based on current projections as provided by GSH ...