Navigation Links
Otix Global, Inc. Extends Term of Loan and Security Agreement With Silicon Valley Bank
Date:3/15/2010

SALT LAKE CITY, March 15 /PRNewswire-FirstCall/ -- Otix Global, Inc. (Nasdaq: OTIX), announced today that it has finalized an amendment to its loan and security agreement with Silicon Valley Bank.  The amendment extends the term one additional year to April 11, 2011, modifies covenants, and revises the borrowing base formula which allows the Company to obtain additional funds if necessary.

About Otix Global

Otix Global designs, develops, manufactures and markets advanced digital hearing aids designed to provide the highest levels of satisfaction for hearing impaired consumers.

Forward –Looking Statements

This press release contains "forward-looking statements" as defined under securities laws. Actual results may differ materially and adversely from those described herein depending on a number of factors but not limited to, the following risks: we cannot anticipate the impact of the reverse stock split on our stock price or our ability to regain compliance with the NASDAQ minimum bid requirements for continued listing; we face aggressive competition in our business; acquisitions could be difficult to integrate and disrupt our current business and therefore may harm our operating results; we may poorly operate newly acquired businesses; our consolidation initiative may not produce the cost savings we anticipate; our new products may not increase sales; we may lose a large customer or suffer a reduction in orders from a large customer; we must have innovative, technologically superior products to compete effectively; our products, due to their complexity, may contain errors or defects that are only discovered after sales by our customers, thus harming our reputation and business; we may have issues with intellectual property; we may trigger a debt covenant default which could impact our working capital and potentially disrupt our operations; and we have important international operations, which expose us to a variety of risks including government reimbursement and foreign currency exchange fluctuations, that could impact sales and operating results. For additional information regarding the risks inherent in our business, please see "Factors That May Affect Future Performance" included in our Annual Report on Form 10-K for the year ended December 31, 2008, and Forms 10-Q for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009, as filed with the Securities and Exchange Commission.

We undertake no obligation to revise our forward-looking statements to reflect events or circumstances after the date hereof as a result of new information, future events or otherwise.

SOURCE Otix Global, Inc.

Back to top
'/>"/>
SOURCE Otix Global, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Otix Global, Inc. Announces Reverse Stock Split
2. Vidaza Significantly Extends Overall Survival by 74% in Phase 3 Trial in Myelodysplastic Syndromes (MDS)
3. Quark Pharmaceuticals Extends Research Agreement with State University of New York for Proprietary siRNA Compounds for Acute Hearing Loss
4. Baxa Corporation Extends Global Reach With New Distribution Agreements in Colombia and the Dominican Republic
5. FDA Extends Review of Genasense(R) NDA Appeal in Chronic Lymphocytic Leukemia
6. Protalix BioTherapeutics Extends Research Agreement With Yissum Based on Promising Acetylcholinesterase Program Results in Animal Study
7. Everolimus (RAD001) Significantly Extends Progression-Free Survival in Advanced Kidney Cancer Patients After Failure of Other Targeted Therapy
8. FDA Extends Review Period for Daiichi Sankyo, Lilly Investigative Antiplatelet Drug, Prasugrel
9. Neurosciences Institute Discovers Drug Extends Stroke Treatment Time to 24 Hours, Repairs Brain Tissue
10. Lincare Holdings Inc. Extends Terms of Employment Agreements with Executive Officers
11. Applied Seals North America Extends Global Network With Addition of Distributor in Europe
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2017)... SILVER SPRING, Md. , March 28, 2017 ... today approved Dupixent (dupilumab) injection to treat adults ... for patients whose eczema is not controlled adequately ... therapies are not advisable. Dupixent can be used ... approval of Dupixent demonstrates our commitment to approving ...
(Date:3/28/2017)... , March 28, 2017  "US Cancer ... on the various indicators and trend analysis related ... drugs in mainstream pharmaceutical market in US. The ... for the growth on cancer generics drugs in ... in saving of billions of dollars for various ...
(Date:3/28/2017)... PHOENIX , March 28, 2017  Today, ... Pharmacy released a new white paper to ... use of latex in healthcare. Specifically, there is substantial confusion ... fact, the FDA has urged manufacturers to drop the term ... labels, because of the challenge to ensure a product is ...
Breaking Medicine Technology:
(Date:3/28/2017)... Calif. (PRWEB) , ... March 28, 2017 , ... ... its leading physicians, Paul Yost, will begin serving as new board chair for ... this month. Yost will serve the remainder of soon-to-be former chair Mark Refowitz’s ...
(Date:3/28/2017)... ... March 28, 2017 , ... ... corrosive ions found in power plant water and steam. , Chlorides and sulfates ... and boilers, leading to extensive maintenance and unplanned shutdowns. Monitoring these ions at ...
(Date:3/28/2017)... ... March 28, 2017 , ... A minimally invasive ... “perfect smile.” The National Association of Dental Laboratories (NADL) is informing dentists about ... aware of when utilizing dental laboratories and technicians that create these veneers. ...
(Date:3/28/2017)... (PRWEB) , ... March 28, 2017 , ... ... Association’s Tri-State Camp Conference in Atlantic City March 13-16, was a busy spot ... team of professional staff discussed strategies for preventing outbreaks among camp communities during ...
(Date:3/28/2017)... ... March 28, 2017 , ... Thank you to all ... February 8-10. , This event was exclusive to providers and offered an opportunity ... meeting took place at the Manchester Grand Hyatt where attendees gathered for a lively ...
Breaking Medicine News(10 mins):