WPCS to Request Hearing in Response to NASDAQ Staff Determination Letter

WPCS to Request Hearing in Response to NASDAQ Staff Determination Letter 
EXTON, PA -- (Marketwired) -- 10/10/13 --   WPCS International
Incorporated (NASDAQ: WPCS) ("WPCS" or the "Company"), which
specializes in design-build engineering services for communications
infrastructure, today announced that it received a letter from the
Staff of the Listing Qualifications Department of The NASDAQ Stock
Market LLC ("NASDAQ") indicating that unless the Company timely
requests a hearing before the NASDAQ Listing Qualifications Panel
(the "Panel"), the Company's common stock would be subject to
delisting from The NASDAQ Capital Market due to the Company's
non-compliance with the applicable $2.5 million stockholders' equity
requirement, as set forth in NASDAQ Listing Rule 5550(b)(1) (the
"Stockholders' Equity Requirement").  
Accordingly, the Company plans to timely request a hearing before the
Panel, which will stay any suspension or delisting action until at
least the issuance of a formal determination by the Panel following a
hearing. At the hearing, the Company will request the continued
listing of its securities on NASDAQ pending the completion of its
plan to regain and sustain compliance with the Stockholders' Equity
Requirement.  
The Panel has the discretion to grant the Company an extension of up
to 180 days from the date of the Staff's determination letter, or
through April 7, 2014. The Company is diligently pursuing its plan to
regain compliance with the Stockholders' Equity Requirement; however,
there can be no assurance that the Panel will grant the Company's
request for continued listing pending the completion of its plan.  
Sebastian Giordano, Interim Chief Executive Officer, commented, "The
Company believes that it presented a multi-phased plan to the NASDAQ
Staff for regaining compliance with the Stockholders' Equity
Requirement, and looks forward to the hearing with the independent
NASDAQ Panel to further discuss the plan components and the progress
the Company expects to make in executing the Plan. In the meantime,
the Company continues to evaluate a number of opportunities for
improvement." 
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
communication, 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 x104
ir@wpcs.com 
 
 
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