RA'ANANA, Israel
and RIVER EDGE, New Jersey, May 8, 2018 /PRNewswire/ -- MTS - Mer
Telemanagement Solutions Ltd. (NASDAQ CM: 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 May 7, 2018 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 5550(b)(1), 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 5810(c)(2)(A), the Company has 45 calendar
days, or until June 21, 2018, 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 evaluating several options to regain
compliance with the continued listing requirement.
About MTS
Mer Telemanagement Solutions Ltd.
(MTS) provides call accounting and TEM solutions and services and
digital advertising solutions for online and mobile platforms.
MTS's telecommunications business is focused on innovative
products and services for enterprises in the area of telecom
expense management (TEM) and Call Accounting. Headquartered in
Israel, MTS markets its solutions
through wholly-owned subsidiaries in Israel, the U.S and Hong Kong, as well as through distribution
channels. For more information please visit the MTS web site:
www.mtsint.com.
MTS's Vexigo (www.vexigo.com) subsidiary provides digital
advertising solutions for online and mobile platforms, and
leverages them to offer advertising optimization services to
advertisers and website owners.
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:
Ofira
Bar
Interim
CFO
Tel:
+972-9-7777-522
Email: ofira.bar@mtsint.com
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SOURCE Mer Telemanagement Solutions Ltd. (MTS)