Full Press Release Details
Receives Positive Nasdaq Listing Determination
N.Y., Oct 8, 2020 /PRNewswire/ - NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield ,
PainShield and WoundShield , and WoundShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices,
today announced that the Company has received formal notification that the Nasdaq Hearings Panel (the "Panel") has
granted the Company's request for continued listing on The Nasdaq Capital Market pursuant to an extension through December
15, 2020, to evidence compliance with the minimum $2.5 million stockholders' equity requirement set forth in Nasdaq Listing
Rule 5550(b) for continued listing on The Nasdaq Capital Market (the "Rule").
previously disclosed, the Company earlier received notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC
indicating that the Company no longer satisfied the Rule and was therefore subject to delisting. In response, the Company timely
requested a hearing before the Panel, which request stayed any further action by the Staff. The hearing was held on September
Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher,
Israel, focused on developing medical devices utilizing its patented low intensity surface acoustic wave (SAW) technology. The
proprietary technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical
applications, including for disruption of biofilms and bacterial colonization, as well as for pain relief. The devices can be
administered at home without the assistance of medical professionals. The Company's primary products include PainShield ,
UroShield and WoundShield , all of which are portable devices suitable for administration at home without assistance
of medical professionals. Additional information about NanoVibronix is available at: www.nanovibronix.com.
press release contains "forward-looking statements." Such statements may be preceded by the words "intends,"
"may," "will," "plans," "expects," "anticipates," "projects,"
"predicts," "estimates," "aims," "believes," "hopes," "potential"
or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are
subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot
be predicted or quantified; consequently, actual results may differ materially from those expressed or implied by such forward-looking
statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with: (i) the geographic,
social and economic impact of COVID-19 on the Company's ability to conduct its business and raise capital in the future
when needed, (ii) market acceptance of our existing and new products or lengthy product delays in key markets; (iii) negative
or unreliable clinical trial results; (iv) inability to secure regulatory approvals for the sale of our products; (v) intense
competition in the medical device industry from much larger, multinational companies; (vi) product liability claims; (vii) product
malfunctions; (viii) our limited manufacturing capabilities and reliance on subcontractor assistance; (ix) insufficient or inadequate
reimbursements by governmental and/or other third party payers for our products; (x) our ability to successfully obtain and maintain
intellectual property protection covering our products; (xi) legislative or regulatory reform impacting the healthcare system
in the U.S. or in foreign jurisdictions; (xii) our reliance on single suppliers for certain product components, (xiii) the need
to raise additional capital to meet our future business requirements and obligations, given the fact that such capital may not
be available, or may be costly, dilutive or difficult to obtain; and (xiv) our conducting business in foreign jurisdictions exposing
us to additional challenges, such as, e.g., foreign currency exchange rate fluctuations, logistical and communications challenges,
the burden and cost of compliance with foreign laws, and political and/or economic instabilities in specific jurisdictions. More
detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set
forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report
on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of
charge on the SEC's web site at: http://www.sec.gov. The Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future events, or otherwise.
Maas, Managing Principal, Hayden IR, LLC