Wizcom Technologies Ltd. :Ad hoc: Wizcom Technologies Releases Nine Months 2011 Results - Additional Funding Required to Complete Turnaround

Rosh Ha'ayin, November 30th, 2011 - Wizcom Technologies Ltd. (Prime Standard: WZM, IL 0010830706), a leading global provider of handheld scanning and translation tools, today announces its results for the first nine months of 2011. Figures are according to US-GAAP and in US$ thousands.

• Revenues for the first nine months of 2011 rose by 42.2% compared to the same period last year, from US$2,898 to US$4,122.

• The gross profit margin for the first nine months of 2011 came in at 32%, compared to 29.1% for the same period last year.

• An operating loss of US$1,925 was posted for the first nine months of 2011, as compared to a US$1,232 operating loss for the first nine months of 2010.

• Total operating expenses for the first nine months of 2011 were US$3,235, a rise of 56% compared to the US$2,074 in the same period of 2010.  The increase in operating expenses was in part due to a $513 impairment charge Wizcom recorded in relation to a revaluation of its subsidiary Galil Microwaves.

• Wizcom recorded a financial gain in relation to a positive change of $507 in the fair value of derivatives.  This positive effect was in part offset by $223 in financial expenses.

• Net loss decreased marginally compared to the same period last year from US$1,710 to US$1,632.

• Basic and diluted net loss per common share was US$0.11, compared to US$0.14 for the same period last year.

• As of September 30th, 2011, the Company had cash and cash equivalents of US$666, compared to US$639 for December 31st, 2010.  Compared to 30th September 2010, cash was up from US$190

• For the first nine months of 2011, the company recorded a negative cash flow from operations of $1,332.  As a result, Wizcom will have to raise additional funds, as presently the Company does not have sufficient cash to satisfy its operational requirements for the coming 12 months, raising substantial doubt about the Company's ability to continue as a going concern unless additional capital is raised.  The company is putting together a funding package, consisting of a bridge loan and a convertible debenture, to ensure sufficient funds are available to complete the turnaround program and develop its markets.