RA'ANANA, Israel and POWDER SPRINGS, Georgia, July 3, 2019 /PRNewswire/ -- Mer Telemanagement Solutions Ltd. (MTS) (Nasdaq Capital Market: MTSL), a global provider of telecommunications expense management (TEM) and enterprise mobility management (EMM) solutions, announced today that on July 1, 2019, the Company was formally notified by The Nasdaq Stock Market LLC ("Nasdaq") that the Company has evidenced full compliance with all criteria for continued listing on The Nasdaq Capital Market, including the applicable stockholders' equity requirement. Nasdaq's determination follows the previously disclosed investment by an institutional investor via the partial exercise of its green shoe option and purchase of 438,597 convertible preferred shares in MTS for $500,000.
The Nasdaq Hearings Panel will continue to monitor the Company's ongoing compliance with the minimum stockholders' equity threshold, through July 1, 2020, and, if the Company were to fall below the minimum threshold, the Company would be subject to delisting, but would also be entitled to request another hearing before the Panel. Such request would stay any delisting action by Nasdaq pending the ultimate outcome of the hearing.
Mer Telemanagement Solutions Ltd. (MTS) is focused on innovative products and services for enterprises in the area of telecom expense management (TEM) and call accounting. Headquartered in Israel, MTS markets its solutions through wholly-owned subsidiaries in Israel, the U.S and Hong Kong, as well as through distribution channels. For more information please visit the MTS web site: www.mtsint.com.
SOURCE Mer Telemanagement Solutions Ltd. (MTS)