PLACERVILLE, CA, Jan. 4, 2017 /PRNewswire/ - iMD Companies, Inc. (OTC: ICBU) Board of Directors are pleased to announce that the company has retained BF Borgers CPA PCAOB accredited accounting firm to complete its audited financials to become a fully reporting company with the SEC. The company has retained Borgers CPA firm because of the acquisition of KRSNA MINERALS.
KRSNA MINERALS is a producing mine in India with over 600 acres of mining claims, which are producing manganese and Iron ore metals. KRSNA MINERALS currently has contracts with the Chinese government to supply manganese and Iron ore to China. The recoverable asset values are in excess of 700 million dollars for the total claims owned by KRSNA MINERALS. The Current Claims mined produced revenues in excess of four million dollars in 2016 and claims being worked on are over 10 million dollars. KRSNA MINERALS plans to dramatically increase the number of claims being mined in 2017 to increase revenues exponentially for the company. KRSNA MINERALS is now a wholly owned subsidiary of ICBU and all financials of KRSNA MINERALS will be represented in ICBU financial statements.
The company has retained Borgers Auditors because of the assets and revenues that are in the company. The company feels that it is time to start the process to move towards being QB Fully Reporting and anticipates applying to be a Nasdaq Small Cap company. The company plans on filing an S1 registration statement with the SEC to register all the shares of the company once the audited financials are completed.
The mining claims are rich in iron ore and manganese and are located in northwestern Orissa. They contain metasediments of low to medium metamorphic grade classified as the Gangpur Group, which host manganese, limestone and Lead-Zinc deposits. In central and southern Orissa, the Proterozoics are represented by the Easternghats granulite belt comprising of khondalite, charnockite, migmatite, anorthosite and alkaline rocks accounting for the mineralisation of bauxite, manganese, graphite and gemstones. Orissa has a lion's share of the Country's mineral reserves.
About iMD Companies, Inc.
iMD Companies, Inc., (OTC: ICBU) is a Florida corporation, engaged in the manufacturing and distribution in the hydroponics industries and asset accumulations of revenue producing companies. The company is positioned to be a holding company for acquisitions in the medical, mining and hydroponics industries. Acquisitions in those areas are R-Quest Hydroponics from Anything Technologies Media (OTC: EXMT). The company and the principals of the management team have extensive backgrounds in finance, 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 business and create other business alliances, which generate increased revenues. www.imdcompaniesinc.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," "estimates" and variations of these words 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. 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 revisions to forward-looking statements.
SOURCE IMD Companies Inc