Elbit Vision Systems Applies for Listing on NASDAQ Small Cap Market.YOQNEAM, Israel -- Following Scanmaster Acquisition, Company's Shareholders' Equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. Has Risen to Approximately $8M, in Compliance with Minimum Requirement Elbit Vision Systems Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : EVSNF.OB) today announced that it has applied for its shares to be listed on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small-Cap Market. The application follows the Company's recent acquisition of ScanMaster, a transaction which raised the Company's Shareholders' Equity to approximately $8 million, well in excess of the NASDAQ SmallCap Market's $5 million minimum shareholders' equity requirement for initial listing. Mr. Zami Aberman, President of EVS EVS European Voluntary Service EVS Environmental Science EVS Electric Vehicle Symposium EVS Enhanced Vision System EVS environmental studies EVS European Values Study EVS Electronic Verification System EVS Extreme Voltage Shutdown , said, "We are pleased that the acquisition of Scanmaster - a strategic step taken to expand our marketing reach and product portfolio - also gives us the opportunity to apply for re-listing on NASDAQ SmallCap Market. This is the first of a number of steps we anticipate taking to increase the profile of the Company and maximize shareholder value." About EVS Elbit Vision Systems Ltd. designs, develops, manufactures, markets and supports automatic optical inspection and quality monitoring systems for the industrial, web and microelectronics industries. Company product lines improve product quality and increase production efficiency in the textile, automotive, non-woven, plastics, wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. and LCD (Liquid Crystal Display) A display technology that uses rod-shaped molecules (liquid crystals) that flow like liquid and bend light. Unenergized, the crystals direct light through two polarizing filters, allowing a natural background color to show. industries. Forward looking statements in this release with respect to the Company's business, financial condition and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings. |
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