Dividend in Integrated Medical Diagnostics to be awarded to Shareholders
Tactical move reduces debt and allows iMD to adapt quickly to market dynamics
PLACERVILLE, CA, Dec. 4, 2014 /CNW/ - iMD Companies, Inc. (OTC:ICBU) announced, today that the company will spin off its wholly owned subsidiaries Integrated Medical Diagnostics and Optimal Mobile Imaging. By doing this the company will have the flexibility and resources it needs to compete more effectively in the hydroponics market.
"Because of the upcoming contracts from H&H Organics and other business partners our board of directors felt that it was in the best interest of both companies to spin off Integrated Medical Diagnostics and Optimal Mobil Imaging to private companies," said Larry Robertson, President of iMD Companies, Inc. "We have reached an agreement with the management of Integrated Medical Diagnostics and Optimal Mobil Imaging for the Company to spin out its assets and liabilities from iMD which will greatly improve the balance sheet for iMD. They will focus on mainstream medical markets with its imaging business and also on government contract opportunities."
The spin-off will be beneficial for shareholders, as they will receive shares in Integrated Medical Diagnostics in a ratio that is expected to be announced next week. Additionally, upon completion of the iMD audit, Integrated Medical Diagnostics will be fully audited which will provide their management the ability to take the company public in the future.
"This strategic step allows us to move forward with less debt on our balance sheet and the ability to begin focusing on our core business plan," Robertson said. "The spin-off was necessary for the company to focus on new contracts and other opportunities that we are working on in the Hydroponics and legal Medical Marijuana industry."
Details of the Dividend ratio to our shareholders and how to be eligible for the dividend are expected to be announced in detail next week.
About iMD Companies, Inc.
iMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, engaged in the manufacturing, marketing, and distribution of equipment for the hydroponics industry. The company has recently re-positioned to be a holding company for acquisitions in the Hydroponics industry. Recent acquisitions in those areas are R-Quest Hydroponics Inc. from Anything Technologies Media (OTC:EXMT) and Lumz'n Blooms, Ltd., a Manufacturer of Indoor Gardening and Hydroponics Equipment. The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. iMD's goal is to create and increase shareholder value by tactically growing our core Hydroponics business while strategically seeking to acquire new businesses and create other business alliances, which generate increased revenues and earnings. www.imdcompanies.com
About R-Quest Hydroponics, Inc.
R-Quest Hydroponics, Inc., is a Hardware and Software Manufacturing Company with its headquarters in Placerville, California. R-Quest Hydroponics, Inc. has developed the new Environmental Master Controller EMC-5000 system, which is able to provide constant management for grow room facilities for indoor gardens. The EMC-5000 was developed so that growers can rest easy with the confidence that their crop is in excellent hands. The EMC-5000 is able to regulate and control all aspects of an indoor grow system, including Light cycles to optimize growth, Fans, Nutrient pumps, and CO2 level controls to help manage grow rooms. To see more information on the EMC-5000 go to www.r-questhydro.com.
Safe Harbor Statement
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
SOURCE: IMD Companies, Inc.
For further information: PACIFIC EQUITY ALLIANCE LLC, Investor Contact: Zachary R. Logan & Drew S. Phillips, Tel. 858.886.7237 / 858.886.7238, Email: [email protected]