WPCS Announces Reverse Split of Common Stock

WPCS Announces Reverse Split of Common Stock 
EXTON, PA -- (Marketwired) -- 05/28/13 --  WPCS International
Incorporated (NASDAQ: WPCS), a leader in design-build engineering
services for communications infrastructure, has announced that on May
28, 2013, it effected a one for seven reverse stock split of its
issued and outstanding common stock to meet the requirements of a
continued listing on the NASDAQ Capital Market. 
WPCS initiated the reverse split pursuant to an amendment to its
Certificate of Incorporation filed with the Secretary of State of
Delaware on May 16, 2013, which became effective at 12:01 am on May
28, 2013. As of the effective date, each seven shares of issued and
outstanding common stock will be converted into one share of common
stock. The WPCS common stock will trade under a new CUSIP number of
92931L302. The Company's ticker symbol of (NASDAQ: WPCS) will remain
the same, however, the ticker symbol will be represented as (NASDAQ:
WPCSD) for twenty trading days commencing from the effective date of
May 28, 2013.  
The purpose of the reverse stock split is to raise the per share
trading price of WPCS common stock to regain compliance with the
$1.00 per share minimum bid price requirement for a continued listing
on the NASDAQ Capital Market. As previously disclosed, in order to
maintain the WPCS listing on the NASDAQ Capital Market, on or before
June 24, 2013, the common stock must have a minimum closing bid price
of $1.00 per share for a minimum of ten prior consecutive trading
days. The total issued and outstanding common stock will be decreased
from approximately 6,950,000 shares to about 993,000 shares.  
Andrew Hidalgo, Chairman and CEO of WPCS, commented, "WPCS values its
NASDAQ Capital Market listing and we will continue to make the
efforts necessary to be compliant. The management team has worked
diligently to improve our financial results over the last two fiscal
years. Now, we are in a better position to seek a shareholder value
proposition. With our NASDAQ Capital Market listing, we can continue
developing our short term strategy to deliver increased shareholder
value." 
About WPCS International Incorporated: 
WPCS is a design-build engineering company that focuses on the
implementation requirements of communications infrastructure. The
company provides its engineering capabilities including wireless
communications, specialty construction and electrical power to the
public services, healthcare, energy and corporate enterprise markets
worldwide. For more information, please visit www.wpcs.com 
Statements about the company's future expectations, including future
revenue and earnings and all other statements in this press release,
other than historical facts, are "forward looking" statements and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward looking statements
involve risks and uncertainties and are subject to change at any
time. The company's actual results could differ materially from
expected results. In reflecting subsequent events or circumstances,
the company undertakes no obligation to update forward looking
statements. 
CONTACT:  
WPCS International Incorporated
610-903-0400 x101
ir@wpcs.com 
 
 
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