The facility and the maturity date of the amounts borrowed are being extended to afford the Company the ability to continue to explore certain potential strategic transactions (each a "Transaction").
Under the Original Agreement, the credit facility terminated and all amounts borrowed thereunder came due on June 30, 2014. Under the Amendment, the facility is terminable and all amounts then outstanding thereunder become due and payable earlier than September 30, 2014 if Transaction milestones specified in the Amendment are not concluded by specified dates in a manner acceptable to Vicis, including if a Transaction definitive binding agreement acceptable to Vicis is not entered into on or before August 31, 2014.
OTC is not the same as "PINK"
" If the Company's common stock is not quoted on the OTC Bulletin Board beginning on July 21, 2014, the Company expects that the common stock will trade on the Pink Sheets,"