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.