We currently expect to file the Amendment on November 29, 2012. 1-FOR-500 REVERSE STOCK SPLIT
GENERAL
Our Board approved by unanimous written consent a 1-for-500 reverse stock split (the " Reverse Stock Split "). Pursuant to the Reverse Stock Split, each five hundred (500) shares of our Common Stock will be automatically converted, without any further action by the Stockholders, into one share of Common Stock. No fractional shares of Common Stock will be issued as the result of the Reverse Stock Split. Instead, the Company will issue to the Stockholders one additional share of Common Stock for each fractional share. The Company anticipates that the effective date of the Reverse Stock Split will be November 29, 2012.
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David Schmidt was IMDS's only independent director.
When your only independent member of the board of directors resigns due to disagreements with managment, the SEC will want to know why. Guaranteed
It is likely to become like the Spring of 2011 in terms of the volume of SEC questions regarding IMDS's filings and activities (see bottom of this post for SEC correspondence to IMDS)
Mrs. Linda Grable, Chairman of the Board and CEO Mr. Allan Schwartz, Director, Executive Vice President and CFO Imaging Diagnostic Systems, Inc. 5307 NW 35th Terrace Fort Lauderdale, FL 33309
Re: Director Resignation
Dear Mrs. Grable and Mr. Schwartz:
Due to my general disagreement with the management and direction of the Company, I hereby resign from the Company’s Board of Directors, effective immediately.
Sincerely,
/s/ David Schmidt
David Schmidt
******** Previous IMDS SEC inquiries
It appears the SEC has posted more of their inquiries from the spring of 2011 questioning everything from the share structure to their disclosure of FDA activities.
Many of these documents correspond to the ammended and ultimately withdrawn S-1's
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