RA'ANANA, Israel and
RIVER EDGE, New Jersey,
April 4, 2017 /PRNewswire/ --
MTS - Mer Telemanagement Solutions Ltd. (NASDAQ Capital
Market: MTSL), a global provider of telecommunications expense
management (TEM) and enterprise mobility management (EMM)
solutions, and video advertising solutions for online and mobile
platforms, announced today that on April 3,
2017 it received a NASDAQ Staff Determination letter
indicating that the Company has failed to comply with the continued
listing requirement that it maintain either a minimum of
$2,500,000 in stockholders' equity or
$35,000,000 market value of listed
securities or $500,000 of net income
from continuing operations for the most recently completed fiscal
year or two of the three most recently completed fiscal years, as
set forth in NASDAQ Marketplace Rule 4320(e)(2)(B), and that the
Staff is therefore reviewing the Company's eligibility for
continued listing on The NASDAQ Capital Market. In accordance with
NASDAQ Marketplace Rule 4320(e)(2)(D), the Company has 45 calendar
days, or until May 18, 2017, to
submit a plan to regain compliance. If the plan is accepted, NASDAQ
can grant an extension of up to 180 calendar days from the date of
the letter to evidence compliance. The Company is considering its
options to regain compliance with the continued listing
requirement.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is a provider of video
advertising solutions for online and mobile platforms through
Vexigo as well as a provider of innovative products and services
for telecom expense management (TEM), enterprise mobility
management (EMM), mobile virtual network operators and enablers
(MVNO/MVNE), billing mobile money services and solutions and an
IOT/M2M enablement platform used by mobile service providers.
Vexigo (http://www.vexigo.com) is a global provider of online
video advertising software and services delivering compelling
results through a propriety in-house technology and an easy-to-use
and very effective publishing platform specifically designed for
content publishers.
Headquartered in Israel, MTS
markets its solutions through wholly owned subsidiaries in
Israel, the United States and Hong Kong and through distribution
channels.
For more information, please visit the MTS web
site: http://www.mtsint.com.
Certain matters discussed in this news release are
forward-looking statements that involve a number of risks and
uncertainties including, but not limited to, risks in product
development plans and schedules, rapid technological change,
changes and delays in product approval and introduction, customer
acceptance of new products, the impact of competitive products and
pricing, market acceptance, the lengthy sales cycle, proprietary
rights of the Company and its competitors, risk of operations in
Israel, government regulations,
dependence on third parties to manufacture products, general
economic conditions and other risk factors detailed in the
Company's filings with the United States Securities and Exchange
Commission.
MTS Contact:
Alon
Mualem
CFO
Tel:
+972-9-7777-540
Email: Alon.Mualem@mtsint.com
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SOURCE MTS - Mer Telemanagement Solutions Ltd.