Imaging Diagnostic Systems (fka IMDS)

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IMDS REVOCATION- Complete list of orders and judments

http://www.sec.gov/litigation/apdocuments/ap-3-15864.xml


SEC order to revoke stock May 8 2014

http://www.sec.gov/litigation/admin/2014/34-72121.pdf

IMDS answer to SEC petition to revoke stock

http://www.sec.gov/litigation/apdocuments/3-15864-event-6.pdf


postponing the hearing to June 2 2014- telephonically

http://www.sec.gov/alj/aljorders/2014/ap-1462.pdf

Order scheduling hearing on June 2 2014

http://www.sec.gov/alj/aljorders/2014/ap-1426.pdf

order following pretrial hearing on June 5

http://www.sec.gov/alj/aljorders/2014/ap-1492.pdf

SEC Motion for Summary Judgment to revoke stock June 20 2014. This is a MUST READ. The SEC has IMDS NAILED. 285 PAGES of a Motion with undisputed FACT after FACT showing what a scam IMDS has and is.

Go to page 237 to see Grable's sworn deposition before the SEC on 1/28/2013. VERY INTERESTING INDEED. SHE LIED THROUGH HER TEETH. Lintro scan had 510k approval? Is that why the machines were siezed by US Marshalls on orders of the FDA? She threw Allan under the bus and said she did NOTHING except raise money and hire/fire people? As a CEO? Grable said Daughter Deb 'USED TO BE VP OF THE COMPANY' She left in 2012?. NO notice to the public the SR VP in charge of the PMA resigned in 2012? Who is Deborah Sykes- listed as current VP. Deb got married .Linda lied again? Count how many time she says "I don't remember" You really think playing the sick old woman is going to make the SEC go easy on you?

I love the question by the SEC- "what was (Deb) VP of?" Grable answer- "JUST VP"..

Read what she says about David Smith who resigned and their current part time COO who comes in a few months of the year from Canada

Read the lies about the current FDA status and former FDA rejections. Page 60 of her deposition-- she swears under oath that she doesn't know if the SEC filings made in 2008 about enough cases for PMA were accurate. The SEC knows IMDS lied about that and hammered her throughout this deposition. Pages 75 on

On page 91 Grable finally slips and admits IMDS only had 100 cases and needed 125 to submit the PMA and she KNEW THIS in November 2008, yet IMDS still told the public they had sufficient number of cases.

Page 63&73 FUNNY- IMDS filed SEC papers with the FORMER CEO's signature in September and October 2008, even though GRABLE was CEO at the time.

Page 104 - Grable admit she lied in another SEC filing in 2009 that IMDS had sufficient number of scans.

Page 118-128- Grable knew in March 2010 they were going to file a 510k and never disclosed to public

pages 136 on about the 510k and the scathing FDA rejection

pages 151-153. IMDS own radiologist stated the CTLM could not detect angeogenesis in highly aggressive or low grade cancers.

pages 156-157 IMDS failed to disclose in their PR dated 8/3/2011 the 510k was denied

160-167. Classy Grable tells the SEC they are "full of crap" and said she called the SEC to tell them they were wrong- even though the FDA denied the 501k.

What a complete POS.

http://www.sec.gov/litigation/apdocuments/3-15864-event-11.pdf

IMDS response july 7 2014. Gives a good look at the internals of this scam.

Question for the SEC. Why are Grable and Schwartz referred to in the SPA as "COMPANY REPRESENTATIVES" when the SEC ordered them to resign and BARRED from involement in penny stocks?

In the SPA IMDS states there are 9.8 BILLION shares outstanding, and there are not enough shares to cover the conversion of preferred shares. All 51 of Grables preferred shares are cancelled on the closing of the first tranche.

page 83- see the price of the stock these new people are paying .00007 /share. 85 BILLION shares
page 86- IMDS being sued by multiple parties
for $714,000 by a lender
for $23,000 by Thompson Ruetuers for EDGAR filings
for $83,000 by their landlord for unpaid rent

PAGE 88 . IMDS IN DEFAULT OF PAYMENTS TO IRS of 1.574 MILLION DOLLARS

IMDS IN DEFAULT ON ALL 21 PROMISSARY NOTES 1MILLION DOLLARS

Page 97- IMDS 5.1 MILLION DOLLARS IN OUTSTANDING DEBT AND LIABILITIES

page 112 USE OF PROCEEDS-- $500k for DAILY OPERATING EXPENSES? $800K to service existing debt?

NO deal done yet as they have to file a 8k by the 4th busines day after the deal is closed.


order granting IMDs a ONE DAY extension for a reply to July 21,2014
http://www.sec.gov/alj/aljorders/2014/ap-1629.pdf

SEC MOTION FOR SUMMARY JUDGMENT

The SEC makes the case- IMDS can't BS their way out of this.

http://www.sec.gov/litigation/apdocuments/3-15864-event-15.pdf

SEC AMENDED MOTION- as if they needed to further make the case

AND.... DRUMROLL PLEASE...........................

AUGUST 1- SEC INITIAL DECISION

http://www.sec.gov/alj/aljdec/2014/id646bpm.pdf


I GRANT the Division of Enforcement’s Motion for Summary Disposition and,pursuant to Section 12(j) of the Securities Exchange Act of 1934, REVOKE the registration of each class
of registered securities of Imaging Diagnostic Systems, Inc

This Initial Decision shall become effective in accordance with and subject to the provisions of Rule 360 of the Commission’s Rules of Practice.See 17 C.F.R. § 201. 360. Pursuant to that
Rule, I FURTHER ORDER that a party may file a petition for review of this Initial Decision within twelve days after service of the Initial Decision.See 17 C.F.R. § 201. 360(b). A party may also file a motion to correct a manifest error of fact within ten days of the Initial Decision, pursuant to Rule 111 of the Commission’s Rules of Practice. 17 C.F.R. § 201.111. If a motion to correct a manifest error of fact is filed by a party, then that party shall have twenty- one days to file a petition for review from the date of the order resolving such motion to correct a manifest error
of fact. The Initial Decision will not become final until the Commission enters an order of finality. The Commission will enter an order of finality unless a party files a petition for review or motion to correct a manifest error of fact or the Commission determines on its own initiative to review the Initial Decision as to a party. If any of these events occur, the Initial Decision shall not become final as to that party. 17 C.F.R. § 201.360(b)(1)
http://www.sec.gov/litigation/apdocuments/3-15864-event-16.pdf

Brenda P. Murray
Chief Administrative Law Judge


NOW, when are the SEC and IRS criminal proceedings going to start.