Business
iMD Companies Inc., Receives $500,000.00 Short Term Funding Commitment from Private Investment Group
iMD Companies Inc., Receives $500,000.00 Short Term Funding Commitment from Private Investment Group.
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[{"type":"text","content":"\n\n\n\niMD Companies Inc., Receives $500,000.00 Short Term Funding Commitment from Private Investment Group\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\niMD Companies Inc., Receives $500,000.00 Short Term Funding Commitment from Private Investment Group\nPR Newswire\nTAMPA, FL, July 24, 2014\n\n\n\nTAMPA, FL, July 24, 2014 /PRNewswire/ - iMD Companies, Inc. (OTC:ICBU) iMD Companies is pleased to announce that a group of accredited investors has signed an agreement to invest up to $500,000.00 specifically targeted at growing the Company's core Gardening business. The initial tranche of $25,000 has already been advanced and the remainder will be distributed based on the needs of the \"core\" business. The investment will fall under Rule 144 and will be described in detail in the Company's audit, which we believe will be completed, by the end of August. In addition, the Company is in the process of closing new strategic acquisitions, which will provide vertically integrated growth.\n\nAfter searching for other acquisitions that would be similar to that of Lumz and Blooms, management feels that an investment into the core competency of the business would create a better \"return on investment\" for shareholders. Management and the Accredited Investors have put a lot of faith into the Vice President of Sales and Marketing, Jim Filkins, and believe that given his knowledge and contacts within the business, capital would be better invested directly to the Company rather than by acquisition.\n\nThe Company is fully dedicated to grow its core business while making key acquisitions of profitable companies that can be vertically integrated.\n\nJim Filkins commented, \"This is a very exciting time at iMD. When people from the private sector believe in our company to the extent that they are willing to invest their personal capital in our future, it means we are doing things right. I appreciate the confidence put into our team. This is all about how we build on what we do best. For iMD it is our knowledge base and industry contacts. It's a bala...