UNITED STATES
SECURITIES AND
EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 8-K CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest
event reported): July 5, 2011 HOMELAND SECURITY CAPITAL
CORPORATION(Exact name of registrant as
specified in its charter) Delaware
  
  000-23279
  
  52-2050585(State or other Jurisdiction of Incorporation)
  
  (Commission File Number)
  
  (IRS Employer Identification No.) 1050 North Glebe Road, Suite
550
Arlington, VA
  
  22201(Address of Principal Executive Offices)
  
  (Zip Code) Registrant’s telephone number,
including area code: (703) 528-7073 (Former name or former address if changed since last report.) Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)o Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)o Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))o Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.01 Completion of
Acquisition or Disposition of Assets. On July 5, 2011,
Homeland Security Capital Corporation (the “Company”)
completed the acquisition of all of the assets and properties of, and the
assumption of certain liabilities from (the
“Assets”), Default Servicing, LLC
(“Default”), pursuant to the previously announced
Asset Purchase Agreement (the “Purchase Agreement”)
the Company entered into on June 22, 2011 with Default Servicing USA,
Inc., a subsidiary of the Company (“Buyer”), Default
and DAL Group, LLC, the sole member of Default. Default is engaged in
the business of providing real estate-owned, liquidation-related services,
including property inspection, eviction and broker assignment services. The
Assets acquired include, among other things, certain contract rights of
Default, certain office furniture and equipment located at Default’s
offices in Kentucky, and other rights and interests of Default, including
goodwill. In consideration for
the Assets, the Company paid at closing an aggregate purchase price of $480,000
in cash. In addition, the Company may pay up to an additional $2.9 million
in contingent payments, if any, subject to the achievement of specified net
revenue measurement metrics during each calendar month through 2014. The foregoing summary
of the Purchase Agreement and the transactions contemplated thereby does not
purport to be complete and is qualified in its entirety by the full text of the
Purchase Agreement, a copy of which was filed as Exhibit 10.1 to the
Company’s Current Report on Form 8-K filed with the Securities and
Exchange Commission of June 23, 2011 and incorporated herein by reference. Item 9.01 Financial Statements and
Exhibits. 
  (a) Financial statements of businesses
acquired. The financial
statements required by Item 9.01(a) of Form 8-K will be filed no later
than 71 days from the date of this Current Report on Form 8-K. (b) Pro forma financial
information. The pro forma
financial statements required by Item 9.01(b) of Form 8-K will be filed no
later than 71 days from the date of this Current Report on Form 8-K.  2




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SIGNATURES Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized. HOMELAND SECURITY CAPTIAL
CORPORATION By:
  /s/ C. Thomas McMillenName: C. Thomas McMillen Title: Chief Executive Officer
 Date: July 11, 2011  3