Tuesday, February 07, 2017 5:41:26 PM
Burbank, CA, February 7, 2017 (GlobeNewswire): Imaging3, Inc. [OTCQB:IGNG] announced that, on January 31 2017, United States Bankruptcy Judge for the Central District of California, Neil Bason, granted the company’s unopposed motion for entry of final decree and also granted approval of the two stipulations regarding payment of court-approved fees. As a result, the Imaging3 Chapter 11 proceeding is now closed—the company is no longer subject to the jurisdiction of the Bankruptcy Court, and the case cannot be converted to a Chapter 7 proceeding.
Stated Dane Medley, president: “I would like to thank our noteholders, our vendors, and all the financial and legal advisors who worked tirelessly throughout this process. We are now poised to capitalize on the promising opportunities that lie ahead for Imaging3.”
Scott Pancoast, consultant to the company, said, “Dane Medley has shepherded Imaging3 through an extremely difficult process these last few years. His leadership and courage, along with the patience and support from many stakeholders, culminated in this successful outcome. “
He continued, “One month ago, Imaging3 was a company mired in bankruptcy, with twelve notes in default and an additional $1.5 million owed to various vendors. It has since restructured its notes, stretched out much of the vendor debt over three years, and negotiated down (or paid off) the remainder vendor debt….and is now clear of the bankruptcy and all the related constraints. This is an extraordinary
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM