TAMPA, Fla., Aug. 7, 2012 /PRNewswire/ -- iMD Companies, Inc. (ICBU) announces that Positive Solutions, Inc. will start to operate independently of iMD Companies effective 3rd Quarter 2012. Positive Solutions' main focus continues to be the adult and pediatric weight loss and wellness industries, along with its existing portfolio of associated programs, technologies, and products. "The company has been steadily growing its licensee base, which is producing increasing revenue month over month. We anticipate adding a substantial number of clinics to our program by year end," said Positive Solutions' newly appointed CEO Saeb Jannoun. He noted that the implementation of a franchise program that will replace the licensee system currently in place should be complete by the beginning of the fourth quarter. "Converting to a franchise system will enable us to grow revenues substantially while allowing us to develop national and international brand name recognition."
iMD Companies Inc. (ICBU) also announces that it will extend the shareholder of record period regarding participation in the pro-rata distribution of stock the company received from Positive Solutions, Inc. "Numerous investors voiced concern over the fact that it normally takes three days for settlement of trades in brokerage accounts. It was always our intent to offer at least five days," stated ICBU CEO Bruce Collett. "Therefore, we will extend the deadline for shareholders of record for participation in the distribution to next Friday, August 17, 2012."
ABOUT IMD Companies, Inc.
IMD Companies, Inc., (OTC MARKETS:ICBU) is a Florida corporation, engaged in the medical diagnostics and health and fitness industries. Its primary products and services lie in the health and fitness nutraceutical and medical diagnostics services markets. The company has also expanded into the weight-loss industry. The company delivers its medical diagnostic services on-site at participating medical clinics and physician offices. The nutraceutical supplements, pills, bar and gels will be marketed and distributed through participating clinics and on-line web marketing retail methods. The company will continue to develop its innovative marketing strategies, including the use of social networking vehicles.
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SOURCE iMD Companies, Inc.