iMD Companies Inc., Receives $500,000.00 Short Term Funding Commitment from Private Investment Group
TAMPA, 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.
After 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.
The Company is fully dedicated to grow its core business while making key acquisitions of profitable companies that can be vertically integrated.
Jim 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 balance of what we know and who we know. I have been bringing products to market for 25 years and we plan to use what has already been built to propel iMD forward in this dynamic market."
About iMD Companies, Inc.
iMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, engaged in the medical diagnostics and health industries. The company has recently re-positioned to be a holding company for acquisitions in the medical and marijuana industry. Recent acquisitions in those areas are R-Quest Hydroponics Inc from Anything Technologies Media (OTC:EXMT). Greenlinks Inc. 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, new technologies, manufacturing, marketing and distribution. ICBU'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.
About Lumz'n Blooms, Ltd.
Lumz'n Blooms, LTD.'s main products allow consumers to "Bring the Sun Indoors". Lighting, ballasts, growing materials are considered the "Pickaxe and Shovel" of the "Green Rush". Over the past 7 plus years Lumz'n Blooms has developed strong distribution channels and today counts Central Garden and Pet, HomeDepot.com, Amazon Prime, Bi-Mart, Orchard Supply as well as hundreds of independent Nursery, Hardware and Hydroponics Retailers among its customers. These established distribution channels, combined with their extensive product line and industry knowledge, makes Lumz'n Blooms a foundational acquisition for building future growth. For more information go to www.Lumz-n-Blooms.com , www.TuckersPride.com and www.InHomeGardening.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.