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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 stoc
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SOURCE Otix Global, Inc.
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