HMSC.OB was CESY.OB-CESY.OB is no longer valid. It has changed to HOMS.OB

[J.Livermore]

Just got my other half @ 21 

lets rock !

[fill_the_gap]

Willing to take the chance.
I am in.
Wish I had HISC from this level.

Holding regardless from this pps.   

[fill_the_gap]

Form 8-K for CELERITY SYSTEMS INC


--------------------------------------------------------------------------------

31-Aug-2005

Entry into Material Agreement, Change in Directors or Principal Officers, Ot



Item 1.01 Entry into a Material Definitive Agreement.
Celerity Systems, Inc., a Delaware corporation (the "Corporation"), announced today that it has entered into two term sheets for a $51 million financial commitment from Cornell Capital Partners, LP to finance, in two parts, the Corporation's new strategic direction as described below under Item 8.01, which shall be subject to execution of definitive documentation. The Corporation expects to close the first part, a $1 million Preferred Stock offering, by September 15, 2005. The Corporation expects to close the second part upon the termination of the Corporation's status as a business development company. Copies of both term sheets are attached to this Current Report.





Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
Effective August 30, 2005, Robert Legnosky resigned as President and a Director of the Corporation, and the Corporation's Board of Directors appointed C. Thomas McMillen to be the President, Chief Executive Officer and a Director of the Corporation. In connection with his appointment, Mr. McMillen and the Corporation executed an Employment Agreement and an Indemnification Agreement, copies of which are attached to this Current Report. Mr. McMillen also purchased 1.25 billion shares of common stock of the Corporation from Cornell Capital Partners, LP, an unaffiliated private entity.





Item 8.01. Other Events.
The Corporation announced today its intention to pursue a new strategic direction: to focus on owning and operating small and mid-sized growth businesses that provide homeland security solutions through innovative technologies to both the public and private sector and to drive growth through management, strategic guidance, capital and financial support, and government marketing expertise.

The Corporation also announced today its intention to seek shareholder approval this coming October to change its name from "Celerity Systems, Inc." to "Homeland Security Capital Corporation" in order to better reflect the Corporation's new direction and objective to become a major player in the homeland security industry. As part of its reorganization, the Corporation will seek shareholder approval this coming October to withdraw its election as a business development company under the Investment Company Act of 1940, as amended. As part of its new strategic direction, the Corporation intends to immediately move its corporate headquarters to the Washington, D.C. area.





ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired.

(b) Pro Forma Financial Information.

(c) Exhibits.


--------------------------------------------------------------------------------
    Exhibit                         Description
--------------------------------------------------------------------------------
10.1             Preferred Stock Term Sheet by and between Cornell Capital
                 Partners, LP and Celerity Systems, Inc.
--------------------------------------------------------------------------------
10.2             SEDA Term Sheet by and between Cornell Capital Partners, LP and
                 Celerity Systems, Inc.
--------------------------------------------------------------------------------
10.3             Employment Agreement by and between C. Thomas McMillen and
                 Celerity Systems, Inc.
--------------------------------------------------------------------------------
10.4             Indemnification Agreement by and between C. Thomas McMillen and
                 Celerity Systems, Inc.
--------------------------------------------------------------------------------
17.1             Letter of Resignation from Robert Legnosky

[wolfandbear]

disposed of - as in being sold by Cornell and otehrs @.002.. http://www.secform4.com/insider/showhistory.php?symbol=cesy

[gmarc66]

Excuse my ignorance...but, what does all this mean? The news and now the selling of shares?

Is this good?

thanks very much,

julia

[Ramsburg]

I think thats great news, and that explains everything:

Mr. McMillen also purchased 1.25 billion shares of common stock of the Corporation from Cornell Capital Partners, LP, an unaffiliated private entity.

Thats what I think is a major Insider buying McMillen entered as the new CEO and bought 1.25 Billion shares of CESY.

The way I see it technically speaking:
After a 164% rise yesterday, the fact of CESY is maintaining this price level today is bullish...

I'm holding this position I just need to see the rest of the show 

best regards !

[setravis]

I think thats great news, and that explains everything:

Mr. McMillen also purchased 1.25 billion shares of common stock of the Corporation from Cornell Capital Partners, LP, an unaffiliated private entity.

Thats what I think is a major Insider buying McMillen entered as the new CEO and bought 1.25 Billion shares of CESY.

The way I see it technically speaking:
After a 164% rise yesterday, the fact of CESY is maintaining this price level today is bullish...

I'm holding this position I just need to see the rest of the show

best regards !

I agree with you 100% Rams.....Bullish to hold the price level!

Watch out Julia you may have just picked you big winner..

[gmarc66]

that would be nice!!

lets hope it goes to a very good place.

Someone on another board wrote this in reference to McMillen's 1.25 bil. share buy:

"Great news is nice but be careful. there are 4,796,102,805 shares outstanding with 5,000,000,000 authorized. What makes this ominous is that the company lost $371,786 last quarter and must continue to issue shares to meet obligations. You may be able to do very well in the short term but I wouldn't hold too long."

Does anyone agree with this his comment?

thanks very much,

julia

[Ramsburg]

that would be nice!!

lets hope it goes to a very good place.

Someone on another board wrote this in reference to McMillen's 1.25 bil. share buy:

"Great news is nice but be careful. there are 4,796,102,805 shares outstanding with 5,000,000,000 authorized. What makes this ominous is that the company lost $371,786 last quarter and must continue to issue shares to meet obligations. You may be able to do very well in the short term but I wouldn't hold too long."

Does anyone agree with this his comment?

thanks very much,

julia

Of course this is always a risky play
Otherwise we weren't talking on the «Penny Stock Picking» board

But what I see about CESY, is that it will turn into Homeland Security, a completely different business, with a completely different business plan, strategy, etc... I don't think we should think too much about the past of the company since this is like another company, or some kind of rebirth on a different form of life.

People, who are buying CESY right now, are thinking on the new business, and new direction of the company, not on their past business.

Anyway, we all know the risks of putting money into some OTCBB, and we shall be careful with our exposure. But as far as I can see, it looks like a very good play... 

[In_Arrears]

www.MarketGainer.com: Market Gainers Issues Trading Alert for Shareholders of Celerity Systems Inc.
Sep 1 2005 12:58PM ET

[sweetdoc]

A trading alert for shareholders of CESY? What does that mean exactly..

[In_Arrears]

Sweetdoc

www.MarketGainer.com: Market Gainers Issues Trading Alert for Shareholders of Celerity Systems Inc.

Sep 01, 2005 (M2 PRESSWIRE via COMTEX) -- MarketGainer.com strives to find dynamic issues that are unknown but because of their technology, approach, executive team, recent discoveries or other key factors, could advance in the market. MarketGainer.com has identified the following company based on these criteria. Celerity Systems, Inc.OTC.BB:CESY.OB), a business development company, focuses on providing capital formation, management advice, and investments in developing companies. The company's subsidiary, Celerity Systems, Inc. (Celerity-Nevada), develops and manufacturers, at third party plants, digital set top boxes and digital video servers for the interactive television and high speed Internet markets. It offers end-to-end systems and content package for educational users; and a content package, Celerivision, for use in entertainment deployments, such as condominiums, the hospitality industry, and multihousing properties. Celerity-Nevada also develops a digital education system, which includes its digital video server, applications server, video on demand applications software, custom menu and navigation software, digital set top boxes, and encoded content. The company was incorporated in 1997 and is based in Knoxville, Tennessee.
Recently the company announced the.....

Upon preliminary due-diligence Celerity Systems holds many of the qualities that the M.G research team looks for the deeming a company undervalued. Our due-diligence process will continue over the ensuing weeks to further evaluate the sentiment of their market and to see how they will continue their forward momentum.

To view the full Market Gainer report visit www.marketgainer.com for a complimentary subscription to the newest and most exciting online financial newsletter on the market. No Credit Card information needed. Market Gainer's team of market researchers, and industry professionals focus on doing one thing well - identifying companies with dramatic growth potential that you could profit from soon - sometimes within a few days of when we release information to our subscribers. To become a subscriber feel free to visit our site www.marketgainer.com.

The Financial Information and Financial Content provided by Marketgainer.com is for informational purposes only and should not be used or construed as an offer to sell, a solicitation of an offer to buy, or endorsement, recommendations, or sponsorship of any company or security by Marketgainer.com. You acknowledge and agree that any request for information is unsolicited and shall neither constitute nor be construed as investment advice by Marketgainer.com to you. It is strongly recommended that you seek outside advice from a qualified securities professional prior to making any securities investment.

[fill_the_gap]

Tuck this one away.

Simple news of a name change will do the trick.

Not selling a single share.

The CEO will not let is go below his purchase price, we hope. 

You will wake up to a great move with any news.

[Ramsburg]

Tuck this one away.

Simple news of a name change will do the trick.

Not selling a single share.

The CEO will not let is go below his purchase price, we hope. 

You will wake up to a great move with any news.

Like I've said: Thats a risky play... But it deserves the risk

I'm holding all my shares !

[setravis]

selling this one.....take the loss....move on