Wizcom Technologies Ltd.: Wizcom Technologies Ltd. :Ad hoc: Cash Deficit Raises Doubt About Wizcom's Ability to Meet Financial Obligations - Board and Management Continue to Explore Options to Establish Going Concern

Wizcom Technologies Ltd. / / Ad hoc: Cash Deficit Raises Doubt About Wizcom's Ability to Meet Financial Obligations - Board and Management Continue to Explore Options to Establish Going Concern . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Rosh Ha'ayin, February 01, 2012 - Wizcom Technologies Ltd. (Prime Standard: WZM, IL 0010830706) today announces that to date no agreement has been reached with creditors and debt holders, which puts in serious doubt the Company's ability to continue as a going concern. The Company is faced with falling revenues from the sale of its scanning and translation pens to such an extent that Management foresees the possibility of not being able to meet its financial obligations.

In accordance with Israeli company law, Management has secured wages for those employees within the organization that have cash based compensation, prior to assessing the Company's other outgoings. 

Board and Management are actively pursuing a number of options to establish a going concern.

For further information, please contact:

Wizcom Technologies Ltd.
Tiran Fartouk, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
Phone [phone]
[e-mail]
http://www.Wizcomtech.com

SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Germany
Phone [phone]
[e-mail]

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Source: Wizcom Technologies Ltd. via Thomson Reuters ONE

HUG#1581653

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Wizcom Technologies Ltd.
13 Hamelacha St. Rosh Ha'ayin Israel

WKN: 915856;ISIN: IL0010830706;Index:Prime All Share,TECH All Share;
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