Business
Imaging3 Announces Filing of Proxy Statement
Imaging3 Announces Filing of Proxy Statement.
About this update from Grapefruit Usa Inc.
[{"type":"text","content":"\n\n BURBANK, Calif., Sept. 25, 2017 (GLOBE NEWSWIRE) -- Imaging3 (OTCQB:IGNG) announced today that it has filed a preliminary proxy statement in connection with a special meeting of its shareholders scheduled for November 16, 2017 at the Company’s offices in Burbank, California. The special meeting is being held for the following purposes:\n A. To approve an amendment to the Company’s articles of incorporation to effect a reverse split of all the outstanding shares of common stock, no par value, at a ratio of not less than 1 for 8 and not greater than 1 for 30, with the exact ratio to be established at the discretion of the Company’s board of directors; B. To change the Company’s state of incorporation from California to Delaware; and C. To transact such other business that may properly come before the special meeting.                             Dane Medley, president, stated: “We are pleased with the progress we have made in recent years. Against all odds, Imaging3 has overcome frivolous—yet expensive— shareholder litigation, restructured its debts, become current with all of its SEC reporting requirements, and raised much-needed capital, all with an unwavering focus on the task of bringing the revolutionary SmartScan™ imaging technology to market. The changes to be effected at the special meeting will set the stage for a properly structured equity financing and an uplisting to NASDAQ or NYSE.”     Consultant Scott Pancoast added: “The reverse split and reincorporation will continue our momentum toward becoming an exchange-listed company offering a disruptive and much-anticipated imaging technology.” About Imaging3, Inc.Imaging3, founded in 1993, has developed a patented medical imaging technology, called SmartScan™, that will produce 3D x-ray images, virtually in real time. The SmartScan technology will allow healthcare professionals to perform diagnostic and therapeutic procedures more quickly and accurately, resulting in higher throughput for the clinicians and fewer safety risks for the patient. In addition, Imaging3’s technology exposes patients to significantly less harmful radiation than current...