WizCom Technologies Ltd. / Wizcom Technologies Submits Claims against Teliran 1993 Ltd. and Mr. Ronen Elad  processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 



Rosh Ha'ayin, June 14, 2010 - Wizcom Technologies Ltd. (Prime Standard: WZM, IL
0010830706) (the "Company")  announces, that on June 13, 2010, after failed
attempts to resolve the dispute in arbitration, the Company submitted a claim at
the district court of Petach Tikva for damages of NIS 10,000,000 (approximately
Euro 2.150 million) against Teliran 1993 Ltd. ("Teliran"), the Company's sole
supplier until the end of 2009. The claim is based on a detailed review of
continuing cases of over-billing, inflation of materials' costs, charges in
violation of the prevailing supply agreements, and consequential damages. The
claim is based on review of a part of the invoices, which were provided for
review by Teliran, and were reviewed and surveyed by two independent accounting
firms. The claims relate to transactions which were made between 2005 and 2010,
and asserts additional claims against Mr. Ronen Elad, personally, for his
liability and the alleged breach of his fiduciary duties, as a Chairman of the
Company during said period, its Chief Executive Officer during a part of this
period, and his personal involvement in the trading which placed him in a severe
conflict of interest as the controlling shareholder and Chairman of Teliran.



The Company seeks disclosure of additional invoices from Teliran, and reserved
the right to increase the amounts of the claims when such documents are made
available to it.



An additional claim is brought against Mr. Ronen Elad for reimbursements of
personal expenses, which were allegedly billed in fraud to the Company between
2006 and 2009, and were recently revealed in an review of the Company's books by
an independant controller. The amount which has been asserted is NIS 405,307
(approximately Euro 87,000). The Company made the claims and their details
available to Mr. Elad, and he failed to give a satisfactory explanation to the
wrong doings alleged against him.



About Wizcom Group:



WizCom Technologies Ltd. is the world's leading producer of personal, portable
scanning pens that help people read and process text. These pocket-sized,
user-friendly devices enable people to understand and use printed material,
anytime and anywhere, without disrupting their reading process. Our pens help
students of English as a first or second language, as well as people working in
multilingual environments, enhancing their fluency and expediting reading
comprehension.

WizCom Technologies Inc, Boston, US-based entity, responsible for WizCom Group
operations in the Americas.

Ligature Ltd. is a world leader developer of Optical Character Recognition (OCR)
technologies and applications. The company offers innovative approach to OCR
based solutions for specialized markets partnering with OEMs, VARs and system
integrators incorporating CharacterEyes into software applications and hardware
products.



Galil Microwaves Israel (2003) Ltd. is a third party manufacturer and assembler
of electronic modules for microelectronic and microwave components.





For further information, please contact:


WizCom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
Telefon +972-3-9103330
shimona@wizcomtech.com
http://www.wizcomtech.com


SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Telefon +49-611-1745-398-11
Schwarz@schwarzfinancial.com




[HUG#1423540]



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WizCom Technologies Ltd.
8B Hamarpe St. Jerusalem Israel

WKN: 915856;ISIN: IL0010830706;Index:Prime All Share,TECH All Share;
Listed: Freiverkehr in Börse Stuttgart,
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Regulierter Markt in Frankfurter Wertpapierbörse;


    Press Release as PDF: http://hugin.info/130210/R/1423540/372395.pdf