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ICOP Provides Corporate Update

^{Published on 2009-10-27 17:14:13 - Market Wire}
 

LENEXA, KS--(Marketwire - October 27, 2009) - ICOP Digital, Inc. (NASDAQ: [ ICOP ]), an industry-leading company engaged in advancing digital surveillance technology solutions, today announced the exercise of 735,500 ICOPZ Class B warrants (NASDAQ: [ ICOPZ ]) in the last week bringing in $308,910 in proceeds to ICOP. To date, 2.9 Million ICOPZ's have been exercised bringing in over $1.2 million in additional funds to the Company for this offering. Currently there are 6,082,418 ICOPZ that have not been exercised. A 100% conversion of the Class B warrants will provide a total of $3,724,980 to ICOP.

The Class B warrants are scheduled to expire on December 2, 2009 and the Company strongly encourages all warrant holders to exercise before they expire. In order to exercise a warrant, the warrant holder must contact his or her broker, who will be able to electronically exercise the warrant for common shares of ICOP Digital, Inc. through a system operated by The Depository Trust & Clearing Corporation (DTCC).

As previously announced, the Company filed a $25,000,000 shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) on October 16, 2009. Pursuant to the shelf, the Company may sell any combination of securities described in the prospectus in one or more offerings, so long as the aggregate market value of the securities sold off the "shelf" do not exceed one-third of the company's public float in any 12 month period.

The Company has the option of selling securities off this shelf registration statement for three years but is not required to sell any securities at any time in that three year period. To date, no securities have been issued off the shelf registration statement. The Company received a "no review" letter from the SEC regarding the S-3 shelf Registration Statement on October 23, 2009.

"Currently we have no formal plans to raise additional capital. We believe this shelf registration statement gives us more flexibility to access the Capital Markets, and will enable us to respond efficiently and effectively to the financial needs as we carry out our business plan," stated Dave Owen, Chief Executive Officer at ICOP. "As sales traction continues to increase, ICOP will proactively fund inventory increases and working capital by the most economical means available," he stated.

About ICOP Digital, Inc.

ICOP Digital, Inc. (NASDAQ: [ ICOP ]) is a leading provider of mobile and in-car video solutions for Law Enforcement, Fire, EMS, Military, and Transportation markets, worldwide. ICOP solutions help the public and private sectors mitigate risks, reduce losses, and improve security through the live streaming, capture and secure management of high quality video and audio. [ 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 per share price of the Company's common stock may experience significant fluctuations, so there can be no assurance that holders exercising Class B warrants will profit from such exercise. Neither can there be any assurance that all Class B warrants will be exercised, and the Company could therefore receive significantly less than $3.7M in additional capital. Additional information with respect to these and other factors, which could materially affect the Company and its operations, are included in the Company's most recent annual report and registration statement filed with the Securities and Exchange Commission and which are available from the Company without charge or at [ http://www.sec.gov ].