WPCS Receives Favorable NASDAQ Listing Determination
July 02 2014 - 9:00AM
Marketwired
WPCS Receives Favorable NASDAQ Listing Determination
EXTON, PA--(Marketwired - Jul 2, 2014) - WPCS
International Incorporated (NASDAQ: WPCS) (the "Company"), which
specializes in contracting services for communications
infrastructure and the development of a Bitcoin trading platform,
today announced that on July 1, 2014, the Company received notice
from The NASDAQ Stock Market LLC that the NASDAQ Hearing Panel (the
"Panel") has determined to grant the Company's request for
continued listing on The NASDAQ Capital Market, subject to
certain conditions, including the solicitation of proxies and the
holding of a combined annual meeting for fiscal 2013 and 2014 by
September 30, 2014.
As previously disclosed, on May 2, 2014, the NASDAQ Listing
Qualifications Staff notified the Company that it did not timely
satisfy the annual meeting and proxy solicitation requirements, as
set forth in NASDAQ Listing Rules 5620(a) and 5620(b),
respectively, and that the Company's securities were subject to
delisting unless the Company timely requested a hearing before the
Panel. On June 12, 2014, the Company appeared before the Panel, at
which it requested an extension through September 30, 2014 to
satisfy the proxy solicitation and annual meeting requirements.
About WPCS International Incorporated: WPCS operates in two
business segments including: (1) providing communications
infrastructure contracting services to the public services,
healthcare, energy and corporate enterprise markets worldwide; and
(2) developing a Bitcoin trading platform. For more information,
please visit www.wpcs.com and www.btxtrader.com.
Statements about the company's future expectations,
including future revenue and earnings and all other statements in
this press release, other than historical facts, are "forward
looking" statements and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve risks and
uncertainties and are subject to change at any time. The
company's actual results could differ materially from expected
results. In reflecting subsequent events or circumstances, the
company undertakes no obligation to update forward-looking
statements.
CONTACT: Capital Markets Group, LLC Valter Pinto PH:
(914) 669-0222 or (212) 398-3486 Email Contact
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