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News Breaks | | | | October 29, 2012 | | 08:45 EDT |  | OTIV | On Track Innovations' second largest holder responds to board's claims
Jerry Ivy, the second largest shareholder of On Track Innovations, who has called on shareholders to vote AGAINST management's proposed nominees as directors, responded to claims made by the OTI board of directors. Ivy said, "I was very disappointed to see that the board of OTIV is trying to obfuscate the key issues - i.e. the board's failure to generate profit for 22 years and the over 80% decline in share price in last five years in its October 17th letter...My nominees do not intend to change OTIV's status as an Israeli-based company or terminate its operations in Israel...As a shareholder, I believe that the board of directors and management of OTIV should be accountable to ALL investors regardless of where they live, including the U.S. based investors...Ivy explained that his campaign to vote AGAINST the directors is not aimed at any specific director but intended to send a strong message to the incumbent board that shareholders are not satisfied with the status quo." | |
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News For OTIV From The Last 14 Days Check below for free stories on OTIV the last two weeks. |
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| May 20, 2013 | | 09:09 EDT | | OTIV | On Track Innovations receives order for 30K NFC and contactless payment readers
On Track Innovations announced receipt of a blanket order for 30,000 of its Near Field Communication, or NFC, and contactless payment readers for use in North America from a global leader of integrated technology solutions in the retail petroleum industry. OTI plans to deliver the entire order to its customer this year and expects additional revenues for providing support services to the customer. OTI expects to receive follow-on reader orders from this customer later this year. OTI worked closely with the customer to create a custom-built antenna and support the various contactless payment schemes on the reader itself, ultimately providing the customer with an OEM kit to fit the customer's wide range of products. OTI was chosen over its competitors for its proven ability to solve the customer's specific needs based on its know-how and extensive intellectual property. In addition to the major card associations' contactless programs, OTI embedded the ISIS NFC SmartTap Reader Application on the custom-built OEM kit. | | | May 13, 2013 | | 09:09 EDT | | OTIV | On Track Innovations provides update on patent infringement suit against T-Mobile
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