Elbit Vision Systems Ltd. (fka EVSNF)

[rado]

Lt_investor, Did they say specifically profits will be better or are you just looking at the full year $10Million guidance?

I listened to the CC again.
They said some banks in Israel will allow trading of shares at minimum $1.05 dollars and that that is something they would be happy to do and will do in the next few months so that traders in Israel could go ahead and buy shares.
They said not to be concerned that this is down versus last quarter, quite the opposite when you look at the 9 month results and $300K-$400K can shift just by a late shipment.
They are increasing dramatically area of production. You could actually hear hammering on the conference call.
They expect repeat orders, which they actually did get a $600 follow-on order.
Demand is incredible especially in Asia.
They had a nice variety of segments they are working on - different areas of industry and different products.
CEO feels good about iBar as well as legacy business.
The CEO wasn't quite sure when the
2nd, 3rd quarter, but very confident that within 18-24months all the iBar would be ready.

The comparable for 4th quarter 2015 is $2.349 Million in revenue. They guided for $10Million in revenue for this year, and they had $7.363Million in revenue already, so that gives $2.637 Million for 4th quarter 2016 a 12% increase in revenue as per guidance.
They said 3rd quarter of 2015 was unusually large because they were contractually obligated to deliver a large amount of product in the 3rd quarter 2015. That is why the 3rd quarter 2016 didn't compare as well.

Here is language from the filing when they first started the process of the reverse split that references the Nasdaq:
"
Our Ordinary Shares were delisted from the Nasdaq SmallCap market in November 2003 due to our failure to comply with the $2.5 million minimum shareholder equity requirement, and our shares are currently traded on the OTCQB. While our market cap is now significantly greater than the minimum shareholder equity requirement of the Nasdaq Capital Market, given our current share price, we are unable to list on the Nasdaq Capital Market and our Ordinary Shares are deemed to be “penny stock” as that term is defined in Rule 3a51-1 promulgated under the Securities Exchange Act of 1934. Broker/dealers dealing in penny stocks are required to provide potential investors with a document disclosing the risks of penny stocks and are required to determine whether an investment in a penny stock is a suitable investment for a prospective investor. These and other requirements relating to the trading of penny-stocks have lead to certain broker/dealers in Israel refusing to take trades in our shares. This has made it more difficult for our shareholders to sell shares to third parties or to otherwise dispose of them.

We believe that a reverse split is advisable in order to make our Ordinary Shares a more attractive investment for large US institutional investors (many of whom do not regularly invest in stocks trading below $5.00 per share) and to allow for a possible return of the Ordinary Shares to the Nasdaq Capital Market, which would require a minimum bid price of $3.00 per share. We therefore seek approval of the shareholders to effect a reverse share split of our outstanding Ordinary Shares within a range of 1:5 to 1:30 and to amend our Articles of Association to effect such reverse split. If this proposal is approved, then the Board will have the authority to decide, within nine months of the Meeting, whether to implement the reverse share split and the exact ratio for the reverse split within this range if it is to be implemented. If the reverse split is implemented, the number of authorized as well as the issued and outstanding Ordinary Shares shall be reduced in accordance with the exchange ratio selected by the Board.

We believe that listing on the Nasdaq Capital Market will enable our company to maintain greater access to the public capital markets and will afford our shareholders greater liquidity with respect to their shareholdings in our company and enhance our ability to secure additional financing if required. Accordingly, the Board recommends that the shareholders approve the reverse share split as described above on a date to be announced by the Company and authorize the Company to amend the Articles of Association accordingly.
"
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11295054