FOSTER CITY, Calif.--(BUSINESS WIRE)--Oxis International Inc. (OTCBB:OXIS) today said that the company’s four debenture holders have been notified that the sale of its majority interest in BioCheck Inc. and its diagnostic businesses is proceeding in a timely manner with strong interest from multiple potential buyers, and warned that the recently commenced foreclosure efforts disclosed in Oxis’ 8-K filing of June 13, 2008 related to their collateral will both jeopardize repayment efforts and harm shareholder value.
