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Share Name | Share Symbol | Market | Type |
---|---|---|---|
On Track Innovations Ltd | NASDAQ:OTIV | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.17 | 0.1701 | 0.18 | 0 | 01:00:00 |
ON TRACK INNOVATIONS
LTD.
(Name of Registrant)
Z.H.R.
Industrial Zone, P.O. Box 32, Rosh-Pina, Israel, 12000
(Address of Principal
Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ON TRACK INNOVATIONS LTD.
(Registrant) By: /s/ Oded Bashan Oded Bashan Chief Executive Officer and Chairman |
Date: December 11 th , 2007
|
Press Release |
For Immediate Release
Fort Lee, NJ December 10, 2007 On Track Innovations Ltd (OTI) (NASDAQ GM: OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that its subsidiary, ASEC S.A. (ASEC) in Poland, will provide the Transport Department of the City of Warsaw with additional public transportation and street parking contactless tickets. Following Warsaw, the program is expanding to other cities in Poland including Gdynia, Plock and Rybnik. The orders are for more than $500,000 and delivery is expected to be completed by the end of this year.
Warsaw residents use OTIs contactless cards for bus, tramway, or metro rides, as well as for street parking. ASEC also provided additional services and products for the project including: terminals with integrated contactless readers that enable card loading and perform sale transactions, as well as automated ticket vending machines and software for data gathering and sales monitoring.
Oded Bashan, Chairman & CEO commented: we are pleased with the expansion of the mass transit project in Poland and the ability to provide additional services and products.
About OTI
Established in 1990, OTI (NASDAQ- GM:
OTIV) designs, develops and markets secure contactless microprocessor-based smart card
technology to address the needs of a wide variety of markets. Applications developed by
OTI include product solutions for petroleum payment systems, homeland security solutions,
electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs
and secure campuses. OTI has a global network of regional offices to market and support
its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of
the Year Award in the field of smart cards.
For more information on OTI, visit www.otiglobal.com , the content of which is not part of this press release.
This press release may contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as believe, expect, anticipate, intend, plan, estimate or similar expressions, we are making forward-looking statements. Because such statements deal with future events and are based on OTIs current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding our goals, beliefs, future growth strategies, objectives, plans or current expectations, such as those regarding the expected income to be generated from the orders from the Transport Department of the City of Warsaw or regarding the superiority of our technology and our expansion plans in Europe. Forward-looking statements could be impacted by market acceptance of new and existing products and our ability to execute production on orders, as well as the other risk factors discussed in OTIs Annual Report on Form 20-F for the year ended December 31, 2006, which is on file with the Securities and Exchange Commission. Although OTI believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.
OTI Contact: | Investor Relations |
Galit Mendelson | Miri Segal |
Director of Corporate Communications | Strategic Growth International |
201 944 5200 ext. 111 | 212 838 1444 |
galit@otiglobal.com | msegal@sgi-ir.com |
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