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February 21, 2014
09:05 EDTMOCCommand Security Corp announces additional extension of existing contracts
Command Security Corporation announced another extension, through May 31, of existing Eastern and Western Region security services contracts with a major transportation company. As previously announced, contracts with one security services customer which represents 24% of the company's total revenues, were originally scheduled to expire on May 31, 2013. Since that time the contracts have been extended four times, including the most recent extension through May 31. Also as previously disclosed, this customer commenced and invited us to participate in a competitive bidding process for the continued performance of these services in the Eastern and Western Regions of the United States. As announced on November 18, 2013, Command Security Corporation has been awarded a five-year follow-on contract for security services in the Eastern Region with a geographic footprint that extends from Maine to Virginia and into western Pennsylvania. The contract will commence upon completion of final negotiations which are expected to be completed before the above-mentioned contract extension which expires on May 31. Command Security also noted that a final decision with respect to the award of the Western Region has not yet been announced by this customer.
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