Otix Global Receives Nasdaq Bid Price Notice Deficiency
SALT LAKE CITY, Oct. 12
SALT LAKE CITY, Oct. 12 /PRNewswire-FirstCall/ -- Otix Global, Inc. (Nasdaq:
OTIX) today announced it has received a notice from The Nasdaq Stock Market
that it is not in compliance with Nasdaq Listing Rule 5450(a)(1) because the
closing bid price for its common stock has been below $1.00 per share for 30
consecutive business days. In accordance with the Nasdaq Listing Rules, Otix
has 180 calendar days, or until April 5, 2010, to regain compliance with this
rule. Should Otix's common stock close at $1.00 per share or more for at least
10 consecutive business days prior to April 5, 2010, compliance will have been
achieved and the matter will be closed. This notification has no effect on the
listing of Otix common stock at this time.
At its May 2009 annual shareholder meeting, Otix Global, Inc.'s shareholders
approved a one-for-five reverse stock split, which has yet to be implemented.
The company may implement this reverse stock split should it determine that
such action is necessary.
ABOUT OTIX GLOBAL
Otix Global, Inc. is a global provider of superior hearing solutions. The
company is passionate about quality, technology, and improving lives through
enhanced hearing. The Otix Global family is dedicated to the growth and
success of their hearing-healthcare partners. Otix Global is listed on the
NASDAQ Global Market System (OTIX) and can be found online at
This press release may contain "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 including, but not limited
to, the following risks: 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 not launch more product
lines this year; our products may not help people hear better or more
naturally; we may poorly operate newly acquired businesses; 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; and we have important
international operations, which expose us to a variety of risks including
government reimbursement, 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 and June 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.
Contact: Michael Halloran, Vice President and Chief Financial Officer of Otix
Global, Inc., +1-801-365-2800
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