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Otix Global, Inc. Announces Reverse Stock Split
Date:3/12/2010

y has retained its transfer agent, American Stock Transfer, to act as exchange agent.  American Stock Transfer will manage the exchange of old, pre-reverse stock split shares for new post-split shares.  Stockholders of record as of the effective date will receive a letter of transmittal providing instruction for the exchange of their shares as soon as practicable following the reverse stock split.  Stockholders who hold their shares in "street name" will be contacted by their banks or brokers with any instructions.

No fractional shares will be issued as a result of the reverse stock split.  Fractional shares will be cashed out as follows:

Any cash due to stockholders in exchange for fractional shares will be paid as follows:

  • If a stockholder's shares are held in street name, payment for the fractional shares will be deposited directly into the stockholder's account with the organization holding the stockholder's shares.
  • If the stockholder's shares are registered directly in the stockholder's name, payment for the fractional shares will be made by check, sent to the stockholder directly from American Stock Transfer upon receipt of the properly completed and executed transmittal letter and original stock certificates.

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SOURCE Otix Global, Inc.
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