ON Track Innovations Ltd - Report of Foreign Issuer (6-K)
October 30 2007 - 6:06AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
October, 2007
ON TRACK INNOVATIONS
LTD.
(Name of Registrant)
Z.H.R. Industrial Zone, P.O. Box 32, Rosh-Pina, Israel, 12000
(Address of Principal Executive Office)
Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
o
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1):
Yes
o
No
x
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7):
Yes
o
No
x
Indicate by check mark whether by
furnishing the information contained in this Form, the registrant is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
o
No
x
If Yes is marked,
indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b):
ON TRACK INNOVATIONS
LTD.
6-K ITEM
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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ON TRACK INNOVATIONS LTD.
(Registrant)
By: /s/ Oded Bashan
Oded Bashan
Chief Executive Officer and Chairman
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Date: October 29, 2007
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Press Release
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For Immediate Release
HEARTLAND
PAYMENT SYSTEMS SELECTS OTI CONTACTLESS
PAYMENT SOLUTION TO DEPLOY NEW STUDENT PAYMENT
CARD
OTI Provides
Contactless Smart Stickers for Cell Phones and Readers
Fort Lee, NJ October 29,
2007
On Track Innovations Ltd. (OTI) (NASDAQ-GM: OTIV), a global leader
in contactless microprocessor-based smart card solutions for homeland security, payments,
petroleum payments and other applications, has been selected by Heartland Payment Systems,
(NYSE: HPY), a leading provider of credit/debit/prepaid card processing, payroll and
payment services, to provide universities, students and merchants with a unique and
innovative solution of making and accepting contactless payments by cell
phone. Heartland has completed the first full deployment at Slippery Rock University in
Slippery Rock, PA.
As part of Heartlands new
micro-payments solution, students, faculty and staff at Slippery Rock University received
OTIs contactless smart sticker designed for use with mobile phones. The smart
sticker on the phone enables payment at on-campus locations including campus vending
machines, laundry facilities, photocopiers and printers, as well as at participating
merchant locations in the surrounding community.
Payments by cell phone are enabled by
OTIs contactless Smart Sticker. The sticker is an entirely self-contained,
contactless payment device that adheres to multiple surfaces including mobile phones, PDAs
and more. Payments are made by placing the smart sticker a few inches away from OTIs
Saturn 6000 contactless reader. The Saturn 6000 contactless reader is a leading
cost-to-performance contactless reader in the market today, certified by the major
financial institutions.
Oded Bashan, Chairman and Chief
Executive Officer of OTI commented: The Heartland program offers students, faculty
and staff convenience, speed and security. OTIs Smart Sticker solution combines two
global trends: the growing use of mobile phones and the growing popularity of contactless
payment technology. Students present a lucrative market that adopts advanced
solutions.
About OTI
Established in 1990, OTI
(NASDAQ-GM: OTIV)
designs, develops and markets secure contactless
microprocessor-based smart card technology to address the needs of a wide variety of
markets. Applications developed by OTI include product solutions for petroleum payment
systems, homeland security solutions, electronic passports and IDs, payments, mass
transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network
of regional offices to market and support its products. The company was awarded the Frost
& Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.
About Heartland Payment
Systems
Heartland Payment Systems, Inc., a
NYSE company trading under the symbol HPY, delivers credit/debit/prepaid card processing,
payroll and payment solutions to more than 150,000 small and mid-sized businesses
nationwide Heartland is the founding supporter of The Merchant Bill of Rights, a public
advocacy initiative that educates merchants about fair credit and debit card processing
practices.
For more information on Heartland
Payment Systems, visit
www.heartlandpaymentsystems.com
, the content of which is not
part of this press release.
For more information on OTI, visit
www.otiglobal.com
, the content of which is not part of this press release.
Safe Harbor for
Forward-Looking Statements:
This press release contains
forward-looking statements within the meaning of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and other Federal securities laws.
Whenever we use words such as believe, expect,
anticipate, intend, plan, estimate or
similar expressions, we are making forward-looking statements. Because such statements
deal with future events and are based on OTIs current expectations, they are subject
to various risks and uncertainties and actual results, performance or achievements of OTI
could differ materially from those described in or implied by the statements in this press
release. For example, forward-looking statements include statements regarding our goals,
beliefs, future growth strategies, objectives, plans or current expectations, such as
those regarding the superiority of the Saturn 6000. Forward-looking statements could be
impacted by market acceptance of new and existing products and our ability to execute
production on orders, as well as the other risk factors discussed in OTIs Annual
Report on Form 20-F for the year ended December 31, 2006, which is on file with the
Securities and Exchange Commission. Although OTI believes that the expectations reflected
in such forward-looking statements are based on reasonable assumptions, it can give no
assurance that its expectations will be achieved. Except as otherwise required by law, OTI
disclaims any intention or obligation to update or revise any forward-looking statements,
which speak only as of the date hereof, whether as a result of new information, future
events or circumstances or otherwise.
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OTI Contact:
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Investor Relations
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Galit Mendelson
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Miri Segal
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Director of Corporate Communications
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Strategic Growth International
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201 944 5200 ext. 111
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212 838 1444
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galit@otiglobal.com
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msegal@sgi-ir.com
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