OTI to Ring NASDAQ Closing Bell on Tuesday, January 14
January 07 2014 - 7:30AM
Marketwired
OTI to Ring NASDAQ Closing Bell on Tuesday, January 14
ROSH PINA, ISRAEL--(Marketwired - Jan 7, 2014) - On Track
Innovations Ltd. (OTI) (NASDAQ: OTIV), a global leader in cashless
payment solutions based on contactless transactions and near-field
communication (NFC), will ring the NASDAQ Stock Market Closing Bell
on Tuesday, January 14, 2014.
"With the ringing of the NASDAQ Closing Bell, we celebrate our
new status as a U.S. domestic issuer, effective January 1st," said
Ofer Tziperman, CEO of OTI. "We will also take this opportunity to
highlight the tremendous progress we've made with growing our core
cashless payment solutions business. This was recently demonstrated
by several key customer wins, including multiple purchase orders
for EasyFuel Plus and a $10 million purchase contract for NFC
readers, which represented the largest single reader win in our
company's history."
"Given our momentum, recently strengthen balance sheet, and
expansive intellectual property portfolio," continued Tziperman,
"we're looking forward to capitalizing on the abundant growth
opportunities in our pipeline."
Dimitrios Angelis, chairman of OTI and CEO of OTI America,
commented: "On behalf of our board of directors, I would like to
thank our loyal employees, customers and investors for their
support as we continue to expand OTI's leadership position in the
multi-billion dollar cashless payments space. We would like to
invite everyone to join us in celebrating our progress via the live
online broadcast of the ceremony next Tuesday."
The ceremony is being held at NASDAQ's MarketSite in New York
City and will be webcast live online starting at 3:45 p.m. Eastern
time via this link:
http://www.nasdaq.com/about/marketsitetowervideo.asx.
About OTI On Track Innovations Ltd. (OTI) is a leader in
contactless and NFC applications based on its extensive patent and
IP portfolio. OTI's field-proven innovations have been deployed
around the world to address NFC and other cashless payment
solutions, petroleum payment and management, cashless parking fee
collection systems, and mass transit ticketing. OTI markets and
supports its solutions through a global network of regional offices
and alliances. For more information, visit www.otiglobal.com.
Safe Harbor for Forward-Looking Statements This press release
may contain forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 and other Federal securities laws. Because such
statements deal with future events and are based on OTI's current
expectations, they are subject to various risks and uncertainties
and actual results, performance or achievements of OTI could differ
materially from those described in or implied by the statements in
this press release. The forward-looking statements contained in
this press release are subject to other risks and uncertainties,
including those discussed in the "Risk Factors" section and
elsewhere in OTI's annual report on Form 20-F for the year ended
December 31, 2012 and in subsequent filings with the Securities and
Exchange Commission. Except as otherwise required by law, OTI
disclaims any intention or obligation to update or revise any
forward-looking statements, which speak only as of the date hereof,
whether as a result of new information, future events or
circumstances or otherwise.
Investor Contact: Scott Liolios or Matt Glover Liolios Group,
Inc. 949 574 3860 Email Contact
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