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

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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 +972-3-9103330
tiran@wizcomtech.com
http://www.Wizcomtech.com

SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Germany
Phone +49-611-1745-398-11
Schwarz@schwarzfinancial.com

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

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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