Business
iMD Companies announces the sale of OMI and PCI Heartscan for the cancellation of $ 548,000 in debt
iMD Companies announces the sale of OMI and PCI Heartscan for the cancellation of $ 548,000 in debt.
About this update from Imd Companies, Inc.
[{"type":"text","content":"\n\n\n\niMD Companies announces the sale of OMI and PCI Heartscan for the cancellation of $ 548,000 in debt\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\n\n\n\n\n\niMD Companies announces the sale of OMI and PCI Heartscan for the cancellation of $ 548,000 in debt\nPR Newswire\nPLACERVILLE, CA, May 21, 2015\n\n\n\n\n\n\n\nAction significantly improves balance sheet\n\n\n\nPLACERVILLE, CA, May 21, 2015 /PRNewswire/ - iMD Companies, Inc. (OTC:ICBU) has completed the sale of two of its three operating divisions, OMI and PCI Heartscan, to an investor group for $ 548,000.  \n\n\"The disposition of these operations is in line with the company business plan, which calls for iMD management to be aggressive in its search for acquisitions and joint ventures in the Hydroponics Industry. After careful and deliberate negotiations, the companies reached an agreement to sell these assets to an investor group led by the former owners of these assets for the cancellation of $ 548,000 in debt.  This debt reduction reduces the overall debt of iMD Companies by approximately 50% and positions iMD for rapid future growth and greater shareholder value\", stated Larry Robertson, President of iMD Companies.\n\nDue to the sale of OMI and PCI Heartscan and for the reduction of debt in iMD companies, the Board of Directors of the subsidiaries OMI and PCI Heartscan have decided not to award a private dividend of OMI stock to the shareholders of iMD Companies.  This cancelled the previous dividend announcement from December 2014.  The reduction in debt is a great benefit to iMD and increases the book value of the company.\n\nIn March, iMD announced the opening of our online store,  www.imdmeds.com, where individuals are able to purchase high quality Cannabidiol (CBD) Hemp Oil products.  Currently there are 16 CBD products that can be purchased through the store. Our CBD Hemp oils contain the highest quality CBD oil in the industry as the oils are 100% natural and originate from expertly cultured Hemp plants. \n\nAbout iMD Companies, Inc.iMD Companies, Inc., (OTC MARKETS: ICBU) is...