Grapefruit USA Inc (GPFT)

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IGNG this Medical imaging company came out out BK in Feb ... IGNG http://stockcharts.com/h-sc/ui?s=igng ********************************************************************** Trades thin-- https://globenewswire.com/news-release/2017/02/06/914271/0/en/Imaging3-Announces-Closing-of-the-Company-s-Bankruptcy-Proceeding.html ********************************
February 06, 2017 09:30 ET | Source: Imaging3, Inc.
BURBANK, Calif., Feb. 06, 2017 (GLOBE NEWSWIRE) -- 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 accomplishment for Imaging3, as it can now focus on leveraging its technology and building a business.”

About Imaging3

Imaging3, Inc. has developed a patented medical imaging technology, called SmartScan™, that produces 3D x-ray images, virtually in real time. The SmartScan technology will allow healthcare professionals to perform diagnostic and therapeutic procedures more quickly and accurately, resulting in higher throughput for the clinicians and fewer safety risks for the patient. The technology also allows for greater portability, easier installation, and a significantly reduced cost burden for the healthcare system overall. Imaging3 is planning to submit a 510K application to the FDA during 2017 in order to gain approval to commercialize the SmartScan technology. ******************************************************* They passed the first hurdle! ** https://www.otcmarkets.com/stock/IGNG/news/CriTech-Research-Concludes-Software-Remediation-on-SmartScan-trade--Software?id=151605&b=y ************************************************************************** http://imaging3.com/