Imaging3 (OTCQB: IGNG), together with Los Angeles-based privately held cannabis company Grapefruit Boulevard Investments, Inc. (“GBI”), this morning announced that it has retained outside counsel to assist in the preparation of a registration statement to register shares of IGNG’s common stock underlying the convertible note recently issued by the company to an institutional investor. Per the update, the second tranche of $1,400,000.00 is required to be paid by the investor on the day the registration statement is filed with the SEC. “We intend to file our registration statement as soon as practicable in order to expedite our receipt of additional funding from our investor and accelerate our growth to the best of our ability. The selection of outside counsel renews our commitment to filing the registration statement as expeditiously as possible, but no guarantee can be made that the registration statement will be filed or that it will be declared effective by the SEC. We move inexorably toward our goal of becoming a leading fully integrated cannabis company,” Imaging3 CEO Bradley J. Yourist stated in the news release.
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About Imaging3, Inc.
Imaging3, Inc., founded in 1993, has developed a patented medical imaging technology, called the Dominion SmartScan(TM), that produces 3D X-ray images, effectively in real time. The SmartScan technology has the potential to allow healthcare professionals to perform diagnostic and therapeutic procedures more quickly and accurately, which may result in higher throughput for the clinicians and fewer safety risks for patients. Imaging3’s technology exposes patients to less harmful radiation than current equivalent imaging technologies such as CT scans. The company believes this will allow scans to be used in many settings where scanning is currently limited by concerns about radiation exposure. The technology also notably allows for reasonably convenient portability, easier installation and use-readiness, and a significantly reduced cost burden suitable for novel settings and for healthcare systems across varied global settings. Imaging3 plans to submit a 510(k) application to FDA during 2019 and or 2020 to gain marketing authorization for initial applications for the SmartScan technology. For more information, visit the company’s website at www.Imaging3.com.
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