RiT Technologies Receives NASDAQ Staff Deficiency Letter
TEL AVIV, Israel, March 14, 2013
TEL AVIV, Israel, March 14, 2013 /PRNewswire/ --
RiT Technologies, (the "Company") (NASDAQ: RITT) today announced that it
received a Nasdaq Staff Deficiency Letter on March 11, 2013, indicating that
the Company fails to comply with the minimum of $2,500,000 stockholders'
equity requirement for continued listing, as set forth in NASDAQ Listing Rule
5550. The Company received 45 calendar days to submit a plan to regain
compliance. The Company intends to prepare and submit such a plan to regain
compliance within said timeframe.
About RiT Technologies
RiT is a leading provider of intelligent infrastructure management (IIM)
solutions and a developer of a new revolutionary indoor optical wireless
technology solution. Our IIM products provide and enhance security and network
utilization for data centers, communication rooms and work space environments.
They help companies plan and provision, monitor and troubleshoot their
communications networks, maximizing utilization, reliability and physical
security while minimizing unplanned downtime. RiT's IIM solutions are deployed
around the world, in a broad range of organizations, including: data centers,
enterprises, corporations, government agencies, financial institutions,
airport authorities, healthcare institutions, and education institutions.
RiT's indoor optical wireless technology solution will help our clients
streamline deployment, reduce infrastructure design, installation and
maintenance complexity and enhance security in a cost effective way. RiT's
shares are traded on the Nasdaq exchange under the symbol RITT.
For more information,please visit our website:http://www.rittech.com
Safe Harbor Statement
In this press release,all statements that are not purely about historical
facts,including,but not limited to,those in which we use the words
"believe," "anticipate," "expect," "plan," "intend,"
"estimate","forecast","target", "could" and similar expressions,are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. For example,when we discuss the expansion of
our sales and marketing efforts and the development of exciting new product
lines in 2013 we are using a forward-looking statement. While these
forward-looking statements represent our current judgment of what may happen
in the future,actual results may differ materially from the results expressed
or implied by these statements due to numerous important
factors,including,but not limited to,those described under the heading
"Risk Factors" in our most recent Annual Report filed with the Securities and
Exchange Commission (SEC) on Form 20-F,which may be revised or supplemented
in subsequent reports filed with the SEC. These factors include,but are not
limited to,the following: our ability to raise additional financing,if
required; the continued development of market trends in directions that
benefit our sales; our ability to maintain and grow our revenues; our
dependence upon independent distributors,representatives and strategic
partners; our ability to develop new products and enhance our existing
products; the availability of third-party components used in our products; the
economic condition of our customers; the impact of government regulation; and
the economic and political situation in Israel. We are under no
obligation,and expressly disclaim any obligation,to update the
forward-looking statements in this press release,whether as a result of new
information,future events or otherwise.
Elan Yaish, CFO
SOURCE RiT Technologies Ltd
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