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In ALL penny stocks I go by risk reward. Also my motto in penny stocks is you think you are going to make it longer and be happier longer than going to the casino. Former imgg and made enough to go to the casino a couple of times free. Started my own real wildlife DVD movie company( not with my winnings) I do not have money for penny stocks anymore. But I think the risk reward is still here because I figure they have had time to get the bugs out.
unsuspecting old ladies will be duped into giving away their SS checks
In the news it also said
B. To change the Company’s state of incorporation from California to Delaware; and
C. To transact such other business that may properly come before the special meeting
They do not want to go through this again------- Against all odds, Imaging3 has overcome frivolous—yet expensive— shareholder litigation,
The Top 10 Reasons to Incorporate in Delaware
Published on 8/1/11 by Doug Bend
There are many reasons why more companies are incorporated in Delaware than any other state. This article highlights a few of the reasons why half a million businesses, including more than half of all U.S. publicly-traded companies and 60% of Fortune 500 companies, have incorporated in Delaware. It then outlines the biggest drawbacks to incorporating in Delaware and explains why it is not a one-size-fits-all solution.
1. The Corporate Law Expertise Of The Delaware Court of Chancery
Delaware has a highly respected court that focuses on corporate issues – the Court of Chancery. Because of this specialization, the Court of Chancery has a great deal of expertise and familiarity in resolving complex corporate disputes.
No corporation wants to be involved in litigation, but if you are it is reassuring to know the dispute will be resolved by a very knowledgeable judge who is sophisticated in resolving corporate law matters.
2. The Extensive Precedent of Delaware Corporate Case Law
Corporate case law in Delaware is much more extensive than in other states due to the high volume of corporate cases.
More case law means increased predictability of the likely judicial resolution of a business law dispute. If there have been several similar cases to the one facing your corporation there is less uncertainty about the judicial outcome, which can be key when strategically deciding whether to settle a dispute or invest the time and capital to litigate.
3. The Flexibility Of Delaware Corporate Statutes
The Delaware corporate statutes provide a great deal of flexibility in the organization of a corporation and the rights and duties of board members and shareholders. For example, Delaware allows one person to be the only director, shareholder and officer of a Delaware corporation, whereas some other states require at least three people to fill the officer and director positions.
Although many of Delaware statutes have been mimicked in other states, the extensive case law mentioned above is an enormous asset when determining how a Delaware statute is likely to be interpreted.
4. Corporate Attorneys Are Familiar With Delaware Law
Most corporate attorneys are familiar with Delaware business law. This can lead to your attorney more efficiently and cost effectively assisting you if your company is incorporated in Delaware than if it is incorporated in a less popular state.
5. Angel and VC Investors Prefer To Invest In Delaware Corporations
Angel investors and venture capitalists tend to prefer to invest in companies incorporated as a C Corp in Delaware. Therefore, if you are serious about receiving investments from these types of investors, you may want to incorporate in Delaware.
6. Investment Bankers Prefer Delaware Corporations
Many investment bankers insist on a company being incorporated in Delaware before they take it public. Thus, if a goal is to eventually have an initial public offering (IPO), you may want to incorporate in Delaware rather than having to later convert the company to a Delaware corporation.
7. You Send A Message That It Is A National Company And You Understand the Preferences of Investors
If you incorporate in Delaware, you send a message – “This is a national company.” From a marketing perspective, this could be important for your customers and investors. You also send a signal to investors that you understand their preferences and are serious about receiving investments.
8. There Are Greater Privacy Protections in Delaware Than Some Other States.
Delaware does not require officer or director names to be disclosed on formation documents. This provides a layer of anonymity that is not available in some states.
9. Quality Customer Service and Quick Turn Around Times.
The Delaware Secretary of State’s Office has made it a priority to provide expedited filings. In fact, you can have your filings guaranteed to be processed in less than an hour.
In contrast, California has a 24 hour processing option, but it is not guaranteed to be completed within 24 hours and the rush processing fee is significantly more expensive than in Delaware. This can be critical if you need to close a deal very quickly.
10. Can Be Less Expensive To Relocate The Corporation.
The annual franchise tax in Delaware can vary depending on a variety of factors, but it can be as low as $125 per year with reporting fees. In contrast, in California the annual franchise tax is $800.
If you incorporate in California and later move the corporation to a different state, you still have to pay the $800 annual franchise tax each year, but if you incorporate in Delaware and later move the annual franchise of your “home state” where you initially incorporated could be as low as $125.
LOOKS LIKE MORE good NEWS COMING
from the press release
" The changes to be effected at the special meeting will set the stage for a properly structured equity financing and an uplisting to NASDAQ or NYSE.” Consultant Scott Pancoast added: “The reverse split and reincorporation will continue our momentum toward becoming an exchange-listed company offering a disruptive and much-anticipated imaging technology.”
Imaging3 Announces Successful Conclusion of Mandatory Self-Remediation Period
Burbank, CA, July 27, 2017: Imaging3™, Inc. (OTCQB: IGNG) announced today that the three-year term of the mandatory self-remediation measures ordered against the company by the United States District Court in Los Angeles in connection with the consent agreement by and between the company and the SEC on July 25, 2014 is concluded. Dane Medley stated: “We are pleased with the progress we have made over the past three years. Against all odds, Imaging3 has overcome frivolous—yet expensive— shareholder litigation, restructured its debts, become current with all of its SEC reporting requirements, and raised much-needed capital, all with an unwavering focus on the task of bringing the revolutionary SmartScan™ imaging technology to market.
Scott Pancoast added: “Imaging3 has survived a gauntlet of issues over the past three years and has fought against many adversaries and non-believers. This company has always been focused, and will continue to stay focused, on the goal of delivering our superior imaging technology to the world’s healthcare stage.”
About Imaging3 Inc.
Imaging3, Inc., founded in 1993, has developed a patented medical imaging technology, called SmartScan™, that will produce 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. In addition, Imaging3’s technology exposes patients to significantly less harmful radiation than current imaging technologies such as CT scans, which the company believes will allow scans to be used in more pediatric applications than are currently prescribed. 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.
Visit the company’s website at http://www.imaging3.com for detailed information about the Company’s technology.
Safe Harbor Statement
I am in this for the dividends To live on I do not care what the analyst say as they are for the stock that has a good possibility for a big run up. Then the money people can get out with their with large profit. I do not have to worry when to pull out. and put my money some where else that they recommend. Which a company is paying them to say they it is going to make a big move. recommend it. And if you bought from old smith barney they could sell it from the stock that they held. Just my thoughts
To me he is working for the repairing x-ray machine department as the company split up in two parts during bk. Because igng does not control or have anything to do with the money making part now as I under stand it now..
Must have been hard to find money after the FDA failure.
You will have to remember IGNG is not depending on this board! as the info they give out IHUB does not carry that news carrier.
The company did two things wrong. first tried to get it going just before the market crash in 2008 second as I remember they gave the device to a company around Albany NY for a year so they could market it. What they did was they copied it and made their own device.
Just like the company that made their battery powered motor for its transmission axel parts for the USA mars land rover that WENT TO MARS . They had an agreement with JAPAN'S Toyota and gave them all info. Toyota even went to them two or three times to get things straighten out. Then Toyota MADE THEIR OWN that is in their hybrid cars that runs with battery and/or gas. With all Toyotas money guess who won the law suite and who went bankrupt.
Dean tried to save money and get the FDA approved by him self from the experience he had with prior company he work for. During his first try it was almost done and the FDA workers had their work location change to a different country then they were tougher rules. What we don't if his prior company he work for was behind it. It will be good for mankind if this gets approve. This can tell if a stroke is caused by a leakage or blockage in the ER room. The army can use it any where they have 110 volts. Been here since Dean ran this board.
MORE NEWS
Imaging3 Engages Intertek to Assist with Hazard Analytic Requirements Relating to the 510(k) Application with the FDA
Imaging3, Inc. [OTCQB:IGNG] announced today that on June 14, 2017 the Company hired Intertek, Inc. to remediate the hazard analytics and manage the FDA guidance protocols of submission requirements outlined by the FDA, in order to obtain approval for its Dominion VI imaging device with patented SmartScan™ 3D technology.
Intertek has an established track record of over 130 years in business and is an industry leader with more than 42,000 employees in 1,000 locations in over 100 countries. They deliver Quality Assurance expertise with industry-winning processes and a customer-centric culture. They ensure that products meet quality, health, environmental, safety, and social accountability standards for virtually any market around the world, and they hold extensive global accreditations, recognitions, and agreements.
President Dane Medley stated: “We continue to have extraordinarily high standards in our selection of vendors. The engagement of Intertek is yet another example, along with Med-Device Consulting, who is assisting with our 510(k) applications generally, and CriTech Research, who is assisting with the immense software component of our Dominion VI imaging device. This game-plan of working only with the best maximizes our chances of a successful outcome with the FDA.”
Special consultant Scott Pancoast added, “It is heartening to witness the transformation of Imaging3. The team has been successful in stabilizing its financials and now it is making great progress in stabilizing its operations. Choosing the right vendors is key, especially when working with complex regulatory matters.”
About Intertek, Inc. The mission of Intertek, Inc. is to assist companies in meeting their strategic objectives by providing highly specialized expertise and assistance with a project, either on a temporary or on-going basis. Find out more by visiting: http://www.m-dci.us THIS IS MED DEVICE’s WEBSITE! About Imaging3 Inc. Imaging3, Inc., founded in 1993, has developed a patented medical imaging technology, called SmartScan™, that will produce 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. In addition, Imaging3’s technology exposes patients to significantly less harmful radiation than current imaging technologies such as CT scans, which the company believes will allow scans to be used in more pediatric applications than are currently prescribed. 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.
Visit the company’s website at http://www.imaging3.com for detailed information about the Company’s technology
All depends if they sent the FDA approval in and or it is ready. Lets hope it is all written up and the they are just waiting for thire money.
How long ago was the charges? Did the go to court? Who won? President Clinton lost his license for lying to the court.
NEWS OUT 6/6/2017
Imaging3 Announces $500,000 Debt Financing
Burbank, CA, June 6, 2017 (GlobeNewswire): Imaging3, Inc. [OTCQB:IGNG] announced today that on May 25, 2017 the Company completed the sale of $500,000 of Convertible Promissory Notes (the “Notes“) to two accredited investors (the “Investors”) that are due May 23, 2018 (the “Maturity Date”). After transaction costs, the company netted $470,000 from the sale of the Notes.
These Notes bear interest at the rate of 12% per annum to the Maturity Date and may be redeemed by the Company for 125% of face value within 90 days of issuance and at 135% of face value from 91 days after issuance and before 180 days after issuance.
It is the intention of the Company to pay back the Notes before the end of this 180-day period. If the Notes are not repaid by the end of this period, any balance due is convertible—at the option of the note holders—into common stock at 60% of the lowest closing price for the prior 20 trading days.
In connection with the sale of the Notes, the Investors received a commitment fee totaling 18 million shares, and the holders of a majority of the principal amount of the Company’s notes outstanding at May 18, 2017 (the “Prior Notes”) executed, as of that date, an Omnibus Amendment that enabled the transaction by (i) extending the maturity date of these Prior Notes to May 18, 2018 and (ii) restricting the rights of all the holders of the Prior Notes, including their right to convert until certain conditions are met. In addition, the holders of these Prior Notes were relieved of their obligation to provide the final note tranche of $50,000.
Please refer to the Company’s 8-K filing for specific details.
The Company plans to use the proceeds from the Notes to complete and submit a 510K application to the FDA for the Company’s breakthrough 3D scanning device and for general working capital.
President Dane Medley stated: “Imaging3 now has the runway to achieve operating milestones, with the most important one being the submittal of the 510K for the Dominion VI imaging device. This is a big win for us as we continue to rebuild the company and fulfill the tremendous potential of our patented SmartScan technology
If Dean James is not the CEO now can he start posting on here again? After all that was why he had to stop posting after years of posting here in the begining.
must have gave igng some mmmMONEY I think he does not care which way the company goes he has the goods till the company pays him!!!
Get in now! Before who MADE MONEY BEFORE when it ran to over $2.00 gets in. When it was trying to get its FDA approval.If the flippers made money here before they will be back? You could of bought it at 10 cents and easy sold at $1.50.
PATENT US20040042588 is Imaging3 new patent updated patent
remember, Imaging3 allowed the patent to lapse????
ORIGINAL PATENT ARE FOR 20 YEARS
any new patent are also for 20 years
THIS WAY A COMPANY CAN GET THEIR MONEY BACK
What I like about this is the Dr. can tell if a stroke is caused by blockage or leakage in min. in the emergency room. They do not have to wait in the xray room. The dr has only 90 min before the brain dies.
For your new bees if they get fda approval only on the instance 3D brain scan in the ER to tell if a person has a stroke that is caused by a blockage or a leakage because the hospital has only 90 min. before the brain dies. Every hospital in the world would have one along with the army. This is the reason I bought it many years ago.
patd100
My family got the same letter. I gave them a BK letter they still transferred it to pensco. I called pensco saying what to do so I would not pay their fees. They gave me 2 ways I am taking the last example and do nothing and they would take it over. Morgan Stanly showed me paper work saying they are a pravet co now and not listed. That is why it is a non traditional investment not because it had no value. I had other no value stock their and they were not transferred. I have some CTGI bonds that are back by its technologies that are supposed to pay 10%0intrest. I have not the time to look into these yet.
I have bought a lot of stock penny and on the big board that look like it was sold. Because every one wants to get their stock as cheep as they can. So sit tight.
MsCoffeenut33 look what I found in Plattsburg N.Y a two hour drive from me and I did not know anything about it.
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"the bankruptcy case may be reopened" that means it is closed!
Burbank, CA, February 15, 2017 (GlobeNewswire): Imaging3, Inc. [OTCQB:IGNG] announced today that its special consultant, Scott Pancoast, will be interviewed on MoneyTV with host Donald Baillargeon to discuss Imaging3’s business and its prospects.
MoneyTV is the internationally syndicated television program (http://www.moneytv.net) that features informative interviews with company CEOs, providing insights into their operations and outlooks for their futures.
Mr. Baillargeon will focus on Imaging3’s recent financial restructurings and will delve into Scott Pancoast’s vision of what needs to be accomplished going forward.
Dane Medley, president stated: “With Scott Pancoast’s leadership and negotiation skills, we have come a long way in a rapid time frame. We are now positioned to move the company forward without all the previous constraints
Hi how come my last two post On IGNG board got deleted? One of them was a press release that I posted and the other one was a question some one ask me and I answered it. The last question how come IGNG press release are not put on Ihub
Thanks Gareth
Imaging3 Announces Closing of the Company’s Bankruptcy Proceeding
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
NEWS COMING OUT THIS MO.!
How do I know?
The Ans.
I saw it on the internet TV.!
They are back on MONEY TV
CHECK OUT YAHOO NEWS
must be they do not pay ihub to put their news here because the news was out befoer Christmas.
How I look at this stock that I thought was good at one time. I thought it was a good thing to give it to the university to do free labor in the testing. How ever now I think about it the students must do not spend enough time working on it. The next student has to start all over again or just BS the test to get a grade then moves on. Just my thoughts
MsCoffeenut
I guess Leo gave up on their Zink ball ideal( Zink balls dropped in slowly to beep the battery charge when it was low ) and went with the battery renting ideal. I wonder if you can rent a battery and still charge it up at home?
Also at one time their engine could be stacked on top of each other to make a higher horse power.
Do you know what happen to that idea?
Because all the truck and cars in pictures just show small ones like the have in Korea.
Good luck and if everyone buys below market price maybe some day I will be back in. Right now I need the money for persona use.
just wondering are you on the right board? I do not thing you can???
some news on 11/29/16 but could not copy, it is about first boat delivered?
Sep 29, 2016 (ACCESSWIRE via COMTEX) -- SEOUL, SOUTH KOREA / ACCESSWIRE / September 29, 2016 / LGM, Co. Ltd., a subsidiary of Leo Motors Inc. (otcqb:LEOM) unveiled two electric power trains for sailing yachts at the "Grand Pavois 2016" international boat show in La Rochelle, France. The power trains include both inboard and outboard 90 horse power (67 kW) electric propulsion systems.
Image: https://www.accesswire.com/uploads/lgm123.jpg
The newly developed electric power trains have undergone two years of field tests. Using two 24 kW battery power packs, the power train provides three hours of sailing, and because sail equipped yachts only use power propulsion for departing or returning to the harbor, the energy storage is more than enough.
While LGM's electric power system does not leave any pollution behind of it, it have many environment friendly advantages. Electric boats operate with substantially less noise than Internal Combustion Engines (ICE), and without the polluting stench of oil, diesel, or gasoline. These advantages enhance the pleasure of sailing yachts. Despite these advantages, few electric boats have been developed throughout the world due to perceptions of high technology barriers.
LGM's newly patented electric shock prevention circuits eliminate the traditional and potentially fatal shock hazard risk of electric boat power systems because of the proximity of water.
Dr. Kang, chairman of Leo motors, said, "Globally many companies make electric cars but few companies make electric boats. A significant reason is the liability arising from their lack of safety technology. The most important safety technology for e-boat is LGM's exclusive and proprietary electric shock prevention technology. LGM is the only company in the world that produces a "safe" e-boat."
Another important technology in Leo's e-boat is the proprietary Cartridge Battery (CB) System. E-boats batteries must have daily recharges, which is impractical and almost impossible to facilitate a battery charging station in many harbors. LGM invented the patented battery replacement system which relieves toxic charging environments. Swapping typical 1,400 lb. marine battery power packs is not an easy task and requires a extravagant facility. To overcome this dilemma, LGM developed the CB (Cartridge Battery) technology. CB which splits the battery into smaller, lightweight cartridges optimized for easier handling. When CB works in harmony with Leo's newly innovated Battery Swapping Machines, it reduces the time required to the same as fueling equivalent size vehicles with gas.
Connected boat technology is another technical breakthrough. LGM developed the Internet of Things platform for e-boats which is networked and connected with an Android Operating System. They are ready to function under the command of Artificial Intelligence (AI). Auto Pilot Applications make autonomous sailing possible. Leo's AI-connected positioning application is based from digital GPS which uses both Satellite and Mobile Network. LGM's power train is CAN (Controller Area Network) based, which enables Mobile Diagnosing between mobile devices and Leo's boats.
Dr. Kang, further said, "In the show, LGM received many offers from yacht manufacturers and suppliers to be a distributing partner in France. Leo and LGM are expanding its e-boat businesses into both China and the USA. After this show, we will have a solid foundation for launch in Europe. Europe has few electric propulsion manufacturers, providing only low power and low tech products. LEO's innovations now will facilitate electric power system replacing ICE's for sailing yachts."
LGM's participation of this show was fully subsidized by the Korean government because LGM is designated as an advanced ocean technology leader in Korea
Jul 20, 2016 (ACCESSWIRE via COMTEX) -- SEOUL, KOREA / ACCESSWIRE / July 20, 2016 / Leo Motors Inc. LEOM, +0.00% with the support of government officials of Henan, China, Leo Motors, Inc. (LEOM) and Zhong Ji Well Parking System Co., Ltd. (ZJWP) have signed a Memorandum of Understanding (MoU) to set up a joint venture company focused on battery production, electric boat business, and Connected Vehicle business based on Internet of Things (IoT) platforms. The MoU was facilitated by the city government of Xuchang who invited Leo.
Image: https://www.accesswire.com/uploads/LEO%20MOTORS.jpg
Based on the co-financing plan, LEOM will contribute EV, electric boat and IoT technology and ZJWP will contribute market developments and local manufacturing expertise. ZJWP, located in Henan, China, is one of China's largest smart parking system manufacturers who want to expand their business by entering into the businesses of battery power packages for EV, electric boats, solar and wind power plants, smart city lights, and energy storage systems (ESS) with LEOM's technology.
Dr. Kang Shi Chul, CEO of LEOM, said, "This MoU is an important step forward to expedite the commercialization of Leo's developments. Xuchang City is centered in Henan Province, China's most populated region, and will prove to be crucial in driving Leo's revenue. The Chinese government's involvement for this joint venture will provide greater market opportunities."
LEOM is an EV technology developer possessing numerous EV powertrain solutions such as the Cartridge Battery System, Extreme Battery Pack, EMR Prevention System, and Shock Prevention System. LEOM's subsidiaries include LGM, who is South Korea's only certified provider and distributor of electric fishing boats, and LELCON, a developer of IoT automotive maintenance devices, and real-time parking and city light management systems. Leo had already signed contracts to set up a joint venture company in the North Eastern Part of China. When this MoU completes its successful joint venture, Leo will have businesses in both North East and Middle regions in China.
As a result of signing this MoU, both parties will begin preparation of any necessary measures involved for the establishment of their joint venture's manufacturing plant.
The cup is half full he did his job! Just picked the wrong company.
A 20% run would get us to $1.00
He has an awesome track record
He just happened to resign as CEO 6 months before the company announced that it's flagship drug had failed it's clinical trials putting the company in a tailspin. Just a coincidence $46 to $2 in the blink of an eye
My son showed it to me yesterday on yahoo but I did not have time to put it here. Look like good news!
Wales Man
I just came a cross a few mo. a go where I invested in some of the csmg tech I think they were bonds that paid interest any thing happen to that? Also what happen to the coal carbon cleaning part?
any one know biofuse symbol no.?
you for got this one
Some one still wants to give them money? How much assets do they have? Also look who has the voting power!
During 2016, the Company issued promissory notes in the aggregate amount of $310,000. These notes bear interest at 10% per annum and $165,000 is due on October 26, 2016, $65,000 is due on February 26, 2017, $40,000 is due on December 12, 2016, and $40,000 is due on March 29, 2017. These notes are secured by substantially all assets of the Company. The convertible promissory notes are convertible into shares of the Company’s common stock at a rate equal to $0.01-$0.05 per share, subject to downward adjustments for future equity issuances. In connection with these convertible promissory notes, the Company issued warrants to purchase 36,500,000 shares of common stock at an exercise price of $0.01 per share, subject to downward adjustments for future equity issuances. The warrants have a term of 7 years from the date of issuance.
9
Table of Contents
The conversion features and warrants are considered derivative liabilities pursuant to ASC 815 and were measured at their grant-date fair value and recorded as a liability and note discount on the date of issuance. Subsequent changes to the value of the derivative liabilities are recorded in earnings. As a result, during the year ended December 31, 2015, the Company recorded an initial note discount of $455,000, with an additional immediate charge to interest expense of $749,809 relating to the excess value of the derivative liabilities over the promissory notes. During the nine months ended September 30, 2016, the Company recorded an additional note discount of $276,757, with an immediate charge to interest expense of $2,403,706 relating to the excess value of the derivative liabilities over the promissory notes. Amortization of the note discount amounted to $272,090 during the nine months ended September 30, 2016 and $225,167 for the nine months ended September 30, 2015.
7. STOCKHOLDERS’ EQUITY
Preferred Stock
Upon confirmation of the Company’s Chapter 11 Reorganization Plan, the Company was authorized to issue 2,000 shares of preferred stock, no par value. The rights, privileges, and preferences of the preferred stock are to be determined by the Company’s board of directors and may be issued in series. As of December 31, 2015, there were no shares of preferred stock outstanding. As of January 18, 2016, Imaging3 issued 2,000 preferred voting shares to Dane Medley, CEO/Chairman. Each share constitutes 350,000 voting shares. The estimated value of these shares was not significant. As of September 30, 2016, there were 2,000 shares of preferred stock outstanding.