Burbank, CA, May 01, 2015 --(PR.com
)-- Imaging3™, Inc. (OTCBB: IMGGQ) announced today that it has secured initial funding to support the Company’s activities going forward. The Company intends to use the funding to achieve several key objectives. The Company’s first objective is to complete its financial statements with its new auditing firm Rose, Snyder & Jacobs LLP located in Encino, CA. Imaging3’s second objective is to conclude the bankruptcy process and submit the required documents necessary to apply for a trading symbol. In addition, the Company continues to focus on completing its FDA resubmission application for the Dominion VI scanner and has engaged Bio-Logics to assist with the FDA application process.
Dane Medley, Chairman and CEO, stated. “I recognize that the past 18 months have been trying for our investors and organization. The challenges we faced were very complex. We have re-evaluated every aspect of our organization and have made some very difficult business decisions to move the company forward. Walking away from our initial auditors was a costly decision, after 20 months of trying to complete the 2012 financials. Now we have a great firm and hope to complete our financial statements in the next 45-60 days.”
Mr. Medley also stated, “Completing the Dominion VI scanner for resubmission to the Food and Drug Administration is of the highest priority. The Company has made several improvements to the scanner that should improve its prospects for gaining approval. We have combined three operating systems down to one, we have combined four software packages down to one, and with the speed of computing have reduced the four hosting servers also down to one, making the entire process quicker, more efficient, and capable of producing images of higher quality.”
Mr. Medley also stated, “We intend that Imaging3 Inc. will be very lean going forward. We are excited for our investors and are focused on obtaining a stock trading symbol as soon as possible. Many challenges remain ahead of us but we remain optimistic about the Company’s future. We will have more information to share with you soon.”
Imaging3 will provide ongoing updates in the form of filings and press releases, all of which can be found on our website, www.imaging3.com, under the news tab at the top of the page.
Imaging3, Inc., founded in 1993, has developed a medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time. Because these 3D images are instantly constructed in real-time, they can be used for any current or new medical procedures in which multiple frames of reference are required to perform medical procedures on or in the human body. Visit the company’s website at http://www.imaging3.com for more information.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, technological obsolescence, competition from other medical instrument(s) and imaging companies, lack of capital, unexpected costs, failure or delay of FDA approval, failure to obtain a trading symbol from FINRA, failure to consummate desired business combinations or transactions, delays or adverse rulings relating to its pending Chapter 11 bankruptcy action, absence of revenue, the impact on the national and local economies resulting from an economic recession or terrorist actions, and U.S. actions subsequently; unavailability of financing for the Company or its customers, product malfunction, potential product liability claims, and other factors detailed in reports filed by the Company. Imaging3 cannot assure that it will obtain regulatory approval for the Dominion VI Scanner or any other products, successfully complete the Chapter 11 bankruptcy process, successfully complete its financial statements, or obtain a trading symbol from FINRA.