Elbit Vision Systems Ltd. Announces the Company's Securities Will Be Delisted from the Nasdaq SmallCap Market at the Opening of Business on September 8, 2003.Business Editors TEL-AVIV, Israel--(BUSINESS WIRE)--Sept. 3, 2003 Elbit Vision Systems Ltd. (Nasdaq:EVSN EVSN External Volume Serial Number (Veritas Net Backup) EVSN Ecumenical Volunteer Service Network (Baltimore, MD) EVSN Eigenverlag Sieberichs-Nau EVSN European Vacuum Science Network EVSN European Virtual Seismic Network ) announced today that the company received a NASDAQ Staff Determination on August 27, 2003 indicating that the company fails to comply with the minimum stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. requirement, for continued listing set forth in Marketplace Rule 4310(c)(2)(B) and that its securities, therefore, will be delisted from the Nasdaq SmallCap Market at the opening of business on September 8, 2003. About 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 Elbit Vision Systems Ltd. is an innovative company that develops, markets and supplies solutions, products and services worldwide for the modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, and improvement of production processes by computerized vision technology to the textile market in its various applications as well as to other web inspection applications. Established in 1991, EVS is a public held company headquartered in Yokne'am, Israel, with offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Asia. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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