zk1211663.htm

UNITED STATES

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 July, 2012

VUANCE LTD.

(Translation of Registrant’s name into English)

Nolton House

14, Shenkar Street,

Hertzliya Pituach,

Israel

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

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): ¨

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): ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-

Vuance Ltd. Announces Fourth Quarter 2012 Results

Hertzliya Israel – July 05, 2012, Vuance Ltd. (the “Company”, VUNCF), a leading provider of Wireless Identification, Multi-ID, e-ID and e-Security Solutions, completed its unaudited condensed financial statements for the quarter ending March 31, 2012.

First Quarter 2012 Selected Unaudited Financial Results

Revenues from continuing operations for the first quarter ended March 31, 2012 increased 18.4% to $2.19 million compared to $1.85 million in the first quarter of 2011. The increase compared to the first quarter of 2011 was largely driven by an increase in revenue from the e-Security Project and a decrease in revenue from e-ID project completed during the first quarter.

Gross profit from continuing operations increased 21% to $1,233 million for the first quarter compared to $1,021 million for the first quarter of 2011, Gross profit margin for the first quarter was 56% compared to 55% in the first quarter of 2011.

Total operating expenses from continuing operations for the first quarter of 2012 were $0.95 million, compared to $1 million for the first quarter of 2011.

The Company reported an operating income from continuing operations for the first quarter of $286,000 compared to an operating loss from continuing operations of $23,000 in the first quarter of 2011. The Operating income increase was largely driven by the increase in revenues and gross profit, as described above.

Net Profit for the first quarter was $110,000, or $0.01 profit per basic and diluted share (based on a weighted average of 12.04 million shares) compared to a net loss of $165,000, or $0.02 loss per basic and diluted share (based on a weighted average of 7.28 million shares) in the first quarter of 2011.

The Company's unaudited condensed financial statements have been prepared on a going concern basis, which presumes the realization of assets and the settlement of liabilities in the normal course of operations. The application of the going concern basis is dependent upon the Company having sufficient available cash resources and achieving profitable operations to generate sufficient cash flows to fund continued operations. Should the Company fail to generate sufficient cash flows from operations, it will require additional financing to remain a going concern. The reported unaudited condensed financial statements are in accordance with United States generally accepted accounting principles, or US GAAP.

VUANCE LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

AT MARCH 31, 2012

	Mar-31		Mar-31		Dec-31
	2012		2011		2011
	Unaudited				Audited
	U.S. dollars in thousands (except per share data)
ASSETS

CURRENT ASSETS:
Cash and cash equivalents		52		42		215
Trade receivables, net		1,362		614		1,542
Other accounts receivable and prepaid expenses		59		405		105
Inventories, net		272		253		269
Total current assets		1,745		1,314		2,131

SEVERANCE PAY FUND		237		247		228

PROPERTY AND EQUIPMENT, NET		96		105		96

Total assets		2,078		1,666		2,455

VUANCE LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

AT MARCH 31, 2012

	Mar-31			Mar-31			Dec-31
	2012			2011			2011
	Unaudited						Audited
	U.S. dollars in thousands (except per share data)
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES:
Short-term bank credit		135			86			112
Trade payables		1,437			1,435			2,439
Employees and payroll accruals		151			135			139
advances from customers		-			697			-
Accrued expenses and other liabilities		2,344			1,560			2,164
Convertible bonds		2,519			2,967			2,519
Short-term loan and others		622			2,420			456
Total current liabilities		7,208			9,300			7,829

LONG-TERM LIABILITIES:
Accrued severance pay		240			267			227
Total long-term liabilities		240			267			227

SHAREHOLDERS' DEFICIT:
Ordinary shares		192			113			192
Additional paid-in capital		41,839			41,503			41,713
Amount of liability extinguished on account of shares		819			-			819
Accumulated deficit		(48,220	)		(49,517	)		(48,325	)
Total shareholders' deficit		(5,370	)		(7,901	)		(5,601	)

Total liabilities and shareholders' deficit		2,078			1,666			2,455

VUANCE LTD.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2012

	3 months ended						year ended
	Mar-31						Dec-31
	2012			2011			2011
	Unaudited						Audited
	U.S. dollars in thousands, except share data

REVENUES		2,189			1,848			7,922
COST OF REVENUES		956			827			3,306

GROSS PROFIT		1,233			1,021			4,616

OPERATING EXPENSES:
Research and development		87			143			462
Selling and marketing		734			727			3,505
General and administrative		313			235			732
Other (income) expense		(187	)		(107	)		(137	)
Total operating expenses		947			998			4,562

OPERATING (LOSS) INCOME		286			23			54

FINANCIAL (EXPENSES) INCOME , NET		(176	)		(188	)		990

INCOME (LOSS) BEFORE INCOME TAX		110			(165	)		1,044

INCOME TAX		(5	)		(8	)		(25	)

NET INCOME (LOSS) FROM CONTINUING OPERATIONS		105			(173	)		1,019

LOSS FROM DISCONTINUED OPERATIONS		-			-			-

NET INCOME (LOSS) FOR THE PERIOD		105			(173	)		1,019

INCOME (LOSS) PER SHARE FROM CONTINUING OPERATIONS:
Basic		0.01			(0.02	)		0.11
Diluted		0.01			(0.02	)		0.09

LOSS PER SHARE FROM DISCONTINUED OPERATIONS:
Basic		-			-			-
Diluted		-			-			-

NET INCOME (LOSS) PER SHARE:
Basic		0.01			(0.02	)		0.11
Diluted		0.01			(0.02	)		0.09

Weighted average number of ordinary shares used in computing basic income (loss) per share		12,035,272			7,280,821			9,126,327

Weighted average number of ordinary shares used in computing diluted income (loss) per share		15,308,749			7,280,821			11,710,254

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.

Vuance Ltd.

(formerly, SuperCom Ltd.)

By: /s/ Arie Trabelsi

Name: Arie Trabelsi

Title: Chief Executive Officer

Date: July 05, 2012