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Stock Market & Financial Investment News

News Breaks
May 15, 2014
08:21 EDTWPCSWPCS International requests support from holders to vote in favor of proposals
WPCS International is reminding shareholders of the special meeting of the stockholders to be held on May 30. The board of directors recommends that shareholders vote "FOR" all the proposals at the special meeting. Sebastian Giordano, Interim CEO, commented, "Our management team and the board of directors are asking our shareholders for their support at our upcoming Special Meeting. We want to continue to be direct and forthright with our shareholders and explain why a vote 'FOR' the following proposals is in the best interest for the future of our company: Approving the sale of Australia will divest the company of a non-core, unprofitable operation."
News For WPCS From The Last 14 Days
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September 18, 2014
08:15 EDTWPCSWPCS International urges holders to vote YES to increase authorized shares
WPCS International is providing a letter to shareholders with a year in review and why a "YES" vote to increase the authorized shares is crucial. "We want you to know that we are entering the final stages of our current restructuring. The board believes that once our proposal to increase the number of common shares authorized by the Certificate of Incorporation and other proposals are approved, it will enable WPCS to seek key strategic initiatives to enhance our balance sheet through debt reduction, which we believe will ultimately improve our shareholders' equity and cash position." The letter also states, "The upcoming proxy statement proposal to increase the authorized shares of the company, which shareholders did not approve when last presented, is required for us to meet the existing equity conversion and warrant obligations under our secured convertible notes, convertible preferred stock and warrants. We are required to continue to seek this approval, which will result in additional cost and expenses to WPCS, until our obligation is met. We believe that an increase in authorized common stock could lead to the reduction or elimination of our outstanding secured debt, which has been highly restrictive on the company and our ability to create value for all shareholders going forward. Additionally, the increase in authorized shares would better position the company to attract talent through a new stock option plan, provide the company with flexibility for potential growth capital and enhance our ability to leverage our position as a publicly-traded company to pursue selected strategic acquisitions that we believe could enhance our business."
September 15, 2014
16:56 EDTWPCSWPCS International files to delay 10-Q
The compilation, dissemination and review of the information required to be presented in the Form 10-Q for the relevant fiscal quarter has imposed time constraints that have rendered timely filing of the Form 10-Q impracticable without undue hardship and expense to the registrant. The registrant undertakes the responsibility to file such quarterly report no later than 5 days after its original due date.

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