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Emcee:  Glenn Petersen Type:  Unmoderated
Celerity Systems, Inc. (CESY), a company that completed an IPO in November 1997 and has since gone through a number of incarnations, recently sold off its remaining assets and redirected its efforts on the homeland security sector, where it will seek to acquire small and medium sized businesses. To reflect the change in focus, the company will be changing its name to Homeland Security Capital Corporation.

In August 2005, the company hired C. Thomas McMillen as its CEO. Mr. McMillen, a man who could currently be best described as a homeland security entrepreneur, is a former Rhodes scholar, NBA player, and Congressman. He is the CEO of Fortress America Acquisition Corporation, a blank check company that recently completed an IPO that raised $46.8 million. He is also a significant shareholder of Global Secure Corp., a homeland security company that is in registration with the SEC and hopes to raise $100 million.

As of October 24, 2005, Celerity Systems, Inc. (CESY) had 4,390,579,206 common shares outstanding. Also outstanding were 1,000,000 preferred shares, which are convertible into 1,000,000,000 shares of common stock when the company emerges from its status as a Business Development Company as defined under Section 54 of the Investment Company Act of 1940.

The company has entered into a term sheet, which is subject to the signing of a definitive agreement, with Cornell Capital Partners LP, whereby Cornell will invest $50 million in the common stock of Celerity.

The stock closed at $.0016 on Friday. If you assume that the preferred shares are eventually converted, the company, which has a net worth that approximates $1 million, has a valuation of $8.6 million.

Did I mention that they need to do a reverse split.

An investment in this company is a bet on Tom McMillen, who is currently juggling a lot of balls in the air. I am convinced that Mr. McMillen is either going to make a lot of money or come to a bad end. I would not bet the house on this one, but it might have some speculative appeal. Tom McMillen knows how to generate publicity.

Celerity Systems SEC filings:
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44 Lights out: Timios Buys Out Public Shareholders at over 450% of Share Price, GGlenn Petersen-4/21/2017
43In July 2011, we expanded the scope of our operations to include companies operaGlenn Petersen-7/10/2013
42The company has executed a 1-for-500 reverse split and changed its name to TimioGlenn Petersen-9/21/2012
41Now that Safety sub is being sold the company's debt should be paid off withFindit-7/19/2011
40HOMS has more than doubled this morning: <b>Homeland Security Capital CorGlenn Petersen-7/19/2011
39<i>Shares coming out of the woodwork</i> Agreed, which explains whyGlenn Petersen-6/10/2010
38HOMS have been out for sometime now, i believe they have a printing ptess going Celtictrader-6/10/2010
37HOMS is exploring "strategic alternatives": <b>Homeland SecuritGlenn Petersen-6/9/2010
36Thanks for that,i did see YA filed sec 4's.I'm in @ .07 avg Thanks agaCeltictrader-2/24/2010
35Thanks for posting that. HOMS has two major issues that it needs to address. FirGlenn Petersen-2/24/2010
34Homeland Security Capital Corporation Announces Second Quarter Results Date : 0Celtictrader-2/24/2010
33Nice chart. While still unprofitable on a GAAP basis, the company is finally geGlenn Petersen-11/2/2009
32HOMS.ob .19 +5% vol 190k [graphic]~digs-11/1/2009
31Homeland Security Capital Corporation Awarded First Stimulus Related Contract fi~digs-8/26/2009
30HOMS.ob .10 +11% vol 335k [graphic]~digs-6/17/2009
29HOMS.ob .11 +10% vol 359k [graphic]~digs-4/28/2009
28HOMS makes a significant acquisition. It is also simplifying its capital structuGlenn Petersen-3/19/2008
27C. Thomas McMillen has take another blank check company public. Secure America AGlenn Petersen-11/9/2007
26Fortress America Acquisition Corp., the blank check company headed up C. Thomas Glenn Petersen-7/4/2007
25Investors may not like it, but the reverse split is a smart move: <b>HomeGlenn Petersen-10/31/2006
24Another day, another acquisition. HMSC signs another letter of intent to acquirGlenn Petersen-3/9/2006
23HMSC signs a letter of intent to acquire a company manufacturing RFID-enabled seGlenn Petersen-3/8/2006
22 sukkel-2/21/2006
21HMSC completes its first acquisition and draws down on $4 million of its CornellGlenn Petersen-2/10/2006
20CESY has a new name and a new stock symbol: <b>Homeland Security Capital Glenn Petersen-2/2/2006
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