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Imaging Diagnostic Systems (IMDS)

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Last Post: 9/2/2014 8:17:55 AM - Followers: 309 - Board type: Free - Posts Today: 3


Information on IMDS's distributor to four European countries

CTLM Distributors

Austria -
Lebada USA
Tel: +954-594-2409

Republic of Moldova -
Lebada USA
Tel: +954-594-2409

Romania - Lebada USA
Tel: +

Ukraine - Lebada USA
Tel: +

Hungarian International Tabernacle Center

Mailing Address: 1581 NW 132nd Ave
Pembroke Pines, FL 33028-
Street Address: 12401 Stirling Rd
Cooper City, FL 33330-

(954) 594-2409
Pastor: Rev. Ovidiu T. Lebada

Ovidiu T. Lebada
1581 MW 132 Ave
Pembroke Pines, Florida 33028
United States

Registered through:, LLC (
Created on: 25-Aug-10
Expires on: 25-Aug-12
Last Updated on: 22-Aug-11

Administrative Contact:
Lebada, Ovidiu T.
1581 MW 132 Ave
Pembroke Pines, Florida 33028
United States
(954) 594-2409

Technical Contact:
Lebada, Ovidiu T.
1581 MW 132 Ave
Pembroke Pines, Florida 33028
United States
(954) 594-2409

1581 NW 132ND AVE

Location Type: Single Location

Industry: Food Preparations, N.E.C.

Ownership: Private

Year Founded: 2003

Sales Range: Under $500,000

Employees: 1 to 5

LEBADA USA INC is in the Food Preparations, N.E.C. industry in PEMBROKE PINES, FL. This company currently has approximately 1 to 5 employees and annual sales of Under $500,000.

SEC Charges Imaging Diagnostic Systems, CEO, and CFO With Fraud


Litigation Release No. 22801 / September 18, 2013

Accounting and Auditing Enforcement Release No. 3486 / September 18, 2013
Securities and Exchange Commission v. Imaging Diagnostic Systems, Inc., Linda Grable, and Allan Schwartz, Civil Action No. 0:13-cv-62025 (S.D. FL.) (September 13, 2013)

SEC Charges Imaging Diagnostic Systems, CEO, and CFO With Fraud

The Securities and Exchange Commission today charged Florida-based medical technology company Imaging Diagnostic Systems and two top executives for making material misstatements and omissions in public filings about the timing of its Food and Drug Administration (FDA) application and its failure to remit payroll taxes to the Internal Revenue Service (IRS).

According to the SEC's complaint filed in U.S. District Court for the Southern District of Florida, Imaging Diagnostic Systems is engaged in the development and testing of a breast imaging system called CTLM® that purportedly uses a laser to detect breast cancer. The company has failed to obtain FDA approval to market and sell the CTLM® in the United States. From October 2008 to December 2009, Imaging Diagnostic Systems repeatedly disclosed in filings and letters to shareholders that it expected to file by specific deadlines a premarket approval application with the FDA to obtain permission to market and sell the CTLM®. The company failed to meet its projected deadlines. In fact, CEO Linda Grable and CFO Allan Schwartz knew there was no basis for the projections because Imaging Diagnostic Systems did not have enough cancer cases to finish its clinical trials and could not pay for the clinical sites.

The SEC further alleges that beginning in early 2010, Imaging Diagnostic Systems stopped remitting payroll taxes to the IRS for its employees. The company's failure to pay payroll taxes constituted a known commitment, event, or uncertainty of the type that should have been disclosed in the Management's Discussion and Analysis sections of the company's periodic filings, which were signed by Grable and Schwartz. However, the company did not publicly disclose that it failed to remit payroll taxes until more than 16 months later, and even then still failed to disclose the risks associated with its failure to pay payroll taxes.

The SEC's complaint also alleges that Grable and Schwartz failed to file beneficial ownership reports in 2009, 2010, and 2011 despite having received stock or options.

The SEC's complaint charges Imaging Diagnostic Systems, Grable, and Schwartz with violating Section 17(a)(2) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b). The complaint alleges that Imaging Diagnostic Systems violated Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13. The complaint alleges that Imaging Diagnostic Systems and Grable violated Section 14(a) of the Exchange Act and Rule 14a-9; Grable and Schwartz violated Section 16(a) of the Exchange Act and Rules 13a-14, 13b2-1, and 16a-3; and Grable and Schwartz aided and abetted the company's violations of Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 10b-5(b), 12b-20, 13a-1 and 13a-13. The SEC seeks financial penalties and permanent injunctions. The SEC also seeks penny stock bars and officer-and-director bars against Grable and Schwartz.

The SEC's investigation was conducted by Jenny A. Trotman and Kathleen Strandell and supervised by Thierry Olivier Desmet in the Miami Regional Office. The SEC's litigation will be led by Robert Levenson.

SEC Complaint

Item 8.01. Other Events. 8-K Summary

On September 19, 2013, Imaging Diagnostic Systems, Inc. ("IDSI") was served with a Complaint filed by the U.S. Securities and Exchange Commission (the "SEC") in the U.S. District Court for the Southern District of Florida against IDSI, IDSI's chief executive officer Linda Grable and IDSI's chief financial officer Allan Schwartz. The Complaint alleges that the Company and the individual defendants made material misstatements and omissions in public filings in 2008 and 2009 regarding the timing of its application for FDA marketing approval and in 2010 regarding IDSI's failure to remit payroll taxes to the Internal Revenue Service. Finally, the SEC Complaint alleges that Grable and Schwartz failed to timely file beneficial ownership reports in 2009, 2010 and 2011 regarding grants to them of restricted stock and stock options.

The Complaint charges IDSI, Ms. Grable and Mr. Schwartz with violating Section 17(a)2 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) under the Exchange Act. The Complaint also alleges violations of various other provisions of the Exchange Act and rules thereunder. The SEC seeks permanent injunctions against securities law violations, as well as penny stock bars and officer and director bars against Ms. Grable and Mr. Schwartz. The Complaint also seeks unspecified civil financial penalties.

IDSI and the individual defendants are in the process of analyzing the Complaint and their defenses.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

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Current Price
Bid Ask Day's Range
IMDS News: Initial Statement of Beneficial Ownership (3) 08/20/2014 04:15:09 PM
IMDS News: Initial Statement of Beneficial Ownership (3) 08/20/2014 04:13:44 PM
IMDS News: Initial Statement of Beneficial Ownership (3) 08/19/2014 03:57:33 PM
IMDS News: Statement of Beneficial Ownership (sc 13d) 08/19/2014 03:54:08 PM
IMDS News: Current Report Filing (8-k) 08/05/2014 05:25:27 PM
#38706  Sticky Note IMDS STOCK REVOKED- August 1, 2014 janvonscanner 08/03/14 07:43:38 PM
#38705  Sticky Note IMDS REVOCATION- Complete list of orders and judments janvonscanner 08/03/14 07:42:12 PM
#37437  Sticky Note IMDS stockmasterflash 03/27/14 01:03:13 PM
#38843   ?????????????? Decarz 09/02/14 08:17:55 AM
#38842   No, CTLM. If you're going to invest in LongnShortOfIt 09/02/14 02:41:18 AM
#38841   CTM....... Decarz 09/02/14 02:22:03 AM
#38840   I'm not sure where the poster learned to LongnShortOfIt 09/01/14 05:17:23 PM
#38837   First of all it is a CTLM not janvonscanner 09/01/14 12:44:21 PM
#38836   If the CTM arent viable ; Was this Decarz 09/01/14 06:07:42 AM
#38835   Is "WHC Capital LLC" for sure "Whalehaven Capital"?? Kool Aid Man 08/24/14 09:53:11 PM
#38832   Spot on. Tbat is how the Grables have janvonscanner 08/22/14 08:22:43 AM
#38831   Then you're exactly the profiled investor that FRAUDSTERS LongnShortOfIt 08/22/14 07:28:45 AM
#38830   I guess if you had $100 burning a janvonscanner 08/21/14 06:00:36 PM
#38829   Absolutely .. There it is Decarz 08/21/14 05:22:22 PM
#38828   sprinkling around $100 bills in hopes one will LongnShortOfIt 08/21/14 04:52:06 PM
#38827   I know that true for many here bought Decarz 08/21/14 03:49:19 PM
#38826   Hey, i have 1,000,000 worth of IMDS.. But GrundleHunter 08/21/14 03:35:42 PM
#38825   Ok ...Friend ,??? Decarz 08/21/14 03:06:46 PM
#38824   IMDS was NEVER $34.5 a share. Again, that janvonscanner 08/21/14 03:03:08 PM
#38823   I know all that ...but for $100 I Decarz 08/21/14 02:30:46 PM
#38822   There's 7 billion shares outstanding stockmasterflash 08/21/14 02:19:04 PM
#38821   Because of the risk / reward potential $100 Will Decarz 08/21/14 02:17:28 PM
#38820   Keep in mind the SEC has ordered the janvonscanner 08/21/14 11:30:32 AM
#38819   If they do turnaround, it will be WITHOUT LongnShortOfIt 08/21/14 11:25:16 AM
#38818   I know. OK, so she won't lose money LongnShortOfIt 08/21/14 11:21:16 AM
#38817   Long, he was already informed in April of janvonscanner 08/21/14 11:09:47 AM
#38816   Ok Thank U ............ Lets see if Imds Will Decarz 08/21/14 10:50:37 AM
#38815   There a difference. Your "opinions" are false and LongnShortOfIt 08/21/14 10:27:56 AM
#38814   That Director did not make an open market janvonscanner 08/21/14 10:21:54 AM
#38813   Im promoting my Opinions as a Invested ShareHolder... ATTENTION Decarz 08/21/14 08:56:36 AM
#38812   Do some research. It is contained in the janvonscanner 08/21/14 08:10:07 AM
#38811   WOW, that's deceptive. It was Betty and was LongnShortOfIt 08/21/14 12:25:42 AM
#38810   What shares Decarz 08/21/14 12:00:16 AM
#38809   That is entirely FALSE. The SEC has ordered janvonscanner 08/20/14 07:13:43 PM
#38808   It means a restructuring of IMDS is in Decarz 08/20/14 05:34:32 PM
#38807   It means once again, investors are screwed so janvonscanner 08/20/14 04:50:36 PM
#38806   What's the meaning of the news? Two new directors? casios01 08/20/14 04:45:47 PM
#38803   Though the Preferred Stock is convertible into Common stockmasterflash 08/19/14 07:49:21 PM
#38802   36 BILLION shares. MIND BOGGLING isn't it. Haven't janvonscanner 08/19/14 04:11:48 PM
#38801   Isn't this guy and this hospital one of janvonscanner 08/19/14 04:10:21 PM
#38800   Imagine owning 36 Billion shares of this POS stockmasterflash 08/19/14 04:03:50 PM
#38799   Looks real simple to me. It trades. 2 randall899 08/19/14 02:13:33 PM
#38798   Then, what's your point? LongnShortOfIt 08/14/14 08:21:42 AM
#38796   "Isn't that obvious?" - no "or am I BillG2436 08/13/14 08:53:41 PM
#38795   Is your question why the sequence of events? LongnShortOfIt 08/13/14 10:22:18 AM
#38790   I can see you Mere Mortal Earthlines down Decarz 08/12/14 05:11:25 PM
#38789   Long, I think we are dealing with janvonscanner 08/12/14 02:38:15 PM
#38788   what criteria are you talking about? The order LongnShortOfIt 08/12/14 02:13:31 PM
#38786   You obviously do not know how to read janvonscanner 08/12/14 01:28:52 PM
#38785   Ordered Revoked if certain criteria isn't met Why didn't Decarz 08/12/14 01:07:05 PM
#38784   THE STOCK WAS ORDERED REVOKED BY THE SEC janvonscanner 08/12/14 10:02:33 AM
#38783   Excellent!!! ..Outstanding!!!... We Shall See Soon. .. $100 Will buy Decarz 08/12/14 09:25:19 AM
#38782   Denial isn't just a river in Egypt apparently. janvonscanner 08/11/14 09:41:20 PM