RA'ANANA, Israel and
RIVER EDGE, New Jersey,
Dec. 12, 2018 /PRNewswire/ -- MTS
- Mer Telemanagement Solutions Ltd. (NasdaqCM: MTSL), a global
provider of telecommunications expense management ("TEM")
and enterprise mobility management ("EMM") solutions,
announced today that it received written notice from the NASDAQ
Stock Market Inc. indicating that the Company has regained
compliance with the minimum $2.5
million stockholders' equity requirement for continued
listing on The Nasdaq Capital Market.
As previously reported, on November 14,
2018 the Company implemented various steps in order to
regain compliance. Among them - various cost-cutting measures and
the issuance of ordinary and convertible preferred shares to an
institutional investor for an aggregate investment of $1.7 million.
NASDAQ has advised the Company that it will continue to monitor
the Company's ongoing compliance with the shareholders' equity
requirement and, if at the time of the Company's next periodic
report the Company fails to evidence compliance, the Company may be
subject to delisting.
About MTS
Mer Telemanagement Solutions Ltd. ("MTS") 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.
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
CFO
Tel: +972-9-7777-540
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SOURCE Mer Telemanagement Solutions Ltd. (MTS)