TEL AVIV, Israel, May 24,
2019 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a
global provider of secure solutions for the e-Government, Public
Safety, HealthCare, and Finance sectors, received a notification
from Nasdaq for not having timely filed its Annual Report on Form
20-F for the year ended December 31, 2018, as previously
disclosed by the Company on May 16,
2019. The Company does not comply with the Nasdaq Listing
Rule 5250(c)(1), which requires Nasdaq-listed companies to timely
file all periodic reports.
This notice from Nasdaq has no effect currently on the listing
of the Company's common stock on the Nasdaq Capital Market. The
Company has 60 days from notice date, until July 19, 2019, to
either file the 20-F or to submit a plan to Nasdaq showing how it
intends to regain compliance. If Nasdaq accepts the plan submitted
by the Company, Nasdaq can grant an extension for up to 180
calendar days from the 20-F's due date, or until November 11, 2019, to file the form 20-F and
regain compliance.
The Company intends to file the 20-F as promptly as practicable
and within this allowed period.
About SuperCom
Since 1988, SuperCom has been a leading
global provider of traditional and digital identity solutions,
providing advanced safety, identification and security solutions to
governments and organizations, both private and public, throughout
the world. Through its proprietary e-Government platforms and
innovative solutions for traditional and biometrics enrollment,
personalization, issuance and border control services, SuperCom has
inspired governments and national agencies to design and issue
secured Multi-ID documents and robust digital identity solutions to
its citizens and visitors. SuperCom offers advanced, secure mobile
payments ranging from mobile wallet to mobile POS, using a set of
components and platforms to enable secure mobile payments and
financial services. SuperCom is a global provider of a unique
all-in-one field-proven RFID & mobile PureSecurity advanced
solutions suite, accompanied by advanced complementary services for
various industries, including healthcare and homecare, security and
safety, community public safety, law enforcement, electronic
monitoring, livestock monitoring, and building and access
automation.
SuperCom's website: http://www.supercom.com
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements preceded or followed by or that otherwise
include the words "believes", "expects", "anticipates", "intends",
"projects", "estimates", "plans", and similar expressions or future
or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical
facts. Forward-looking statements in this release also include
statements about business and economic trends. Investors should
also consider the areas of risk described under the heading
"Forward Looking Statements" and those factors captioned as "Risk
Factors" in the Company's periodic reports under the Securities
Exchange Act of 1934, as amended, or in connection with any
forward-looking statements that may be made by the Company. These
statements are subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements arising from the annual audit by
management and the Company's independent auditors. The Company
undertakes no obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date of this press release.
Company Contact:
Ordan Trabelsi, President,
Americas
Tel: +1-212-675-4606
ordan@supercom.com
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SOURCE SuperCom Ltd