TEL AVIV, Israel, June 27, 2017 /PRNewswire/ -- Ability Inc. (ABIL) (the "Company"), a leading provider of innovative tactical communications intelligence solutions, today announced that on June 23, 2017 it received notification from the Listing Qualifications Department of The Nasdaq Stock Market (the "Staff") that the Company has regained compliance with Listing Rule 5550(a)(2).
On June 6, 2017, Staff notified Ability that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. Since then, Staff has determined that for at least the last 10 consecutive business days, from June 8 to 22, 2017, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Staff notified the Company that it has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.
About Ability Inc.
Ability Inc. is the sole owner of Ability Computer & Software Industries Ltd. ("Ability") and Ability Security Systems Ltd.
Headquartered in Tel Aviv, Israel, Ability was founded in 1994. Ability provides advanced interception, geolocation and cyber intelligence tools used by security and intelligence agencies, military forces, law enforcement and homeland security agencies worldwide. Ability has sold to governments and government agencies in over 50 countries. Ability offers a broad range of lawful interception, decryption, cyber and geolocation solutions for cellular and satellite communication, including ULIN, or Ultimate Interceptor, which to our knowledge, is the first-to-market SaaS strategic interception system with voice and geolocation capabilities without geographic limitation. State-of-the-art technology underpins Ability's scalable offerings, which can be tactical-and-portable, or strategic-and-fixed, depending on its customers' needs. Additional information regarding Ability may be found at http://www.interceptors.com.
Caution Regarding Forward-Looking Statements
This press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, often signify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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