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Shaka,
I appreciate your dilemma, but the TOS specifically refers to libel statements which this definitely qualifies! The phone number was correct to Mark Richardson's office as he was contacted by many including Dr. Polk!!
I'm not blaming you, but you may contact me in the future to determine whether a post of this nature is accurate or not. I appreciate that even though you are un-happy with Imaging3 you still moderate this board.
Sincerely,
Dean Janes
Chairman / CEO
Imaging3, Inc
(800) 900-9729 ext 109
Perhaps you need to read my posts as you would find out this PPM was open well before our PPS runup and the PPS was at 4 cents! Wow thats a pump! Sure in hindsight, had I known the runnup was so close I would have done things differently. Though given that we are in one of the historically worst economic recessions of our lifetime, taking the bird in hand seemed prudent. If I truley wanted to take advantage of the situation as a so called, "Pump & Dumper" I would have scaled the PPM's to match my runup, now THAT would be suspicious!
Who is being naive now!
One last thing to clear up. The shareholders vote going out will be discussed with actual shareholders so if you own shares and we know about it or have signed up for our newsletter you will be invited.
We started this process over a year ago to primarily increase our board member size, which is just a house keeping measure, especially for SORBOX compliance. Since we were going through the headache process we decided to do other future house keeping measures, like increase authorized shares and have some preferred shares authorized. These are not something we immediately need but are more for protective measures.
Actual shareholders will have the opportunity to meet with management and discuss this once we get the go ahead from the SEC. Again nothing out of the ordinary, yet perceived by some as having other motives.
Sincerely,
Dean Janes
Everyone is entitled to their opinion, which is all this guy seems to be expressing, even though he is way off target! To call IMGG a pump and dump is strange as this latest run up had nothing to do with news, promotion or otherwise, especially on my part. To say I've profited is also ridiculous as I must report sales of my stock and the last time I did so, this spring, the funds were given to the company as stated in a previous 8k filing. As to the switch in accountants, very weird, we did so to save time and especially money. Our last accountant was so busy we always seemed to barely make the deadline to report our financials which drove my CFO nuts, now we are always on time and can file less hurried.
We in management have always tried to provide an open book for investors, recently I started having conference calls to update you on our progress, especially with the FDA. This latest dilution was not mentioned as we had yet to file the 8k. Dilution primarily hurts my position, it boggles my mind how people holding less than a million shares get so worked up about it. Google has over 300 million shares outstanding and it doesn't seem to affect their PPS. We opened this PPM to raise money as we even described in a previous CC, we sent a newsletter out to shareholders and many responded, this was when we were at 4 cents! The response was so huge we ended up having to decide whether to take more or turn money away. Ultimately, I think I made the right choice to take money in the worst economic times of my generations lifetime, especially since we won't need to raise any money in the future and can better position ourselves towards manufacturing once we get FDA approval.
I'm not sure what our exact shares outstanding are but it is approx 370 million. These new shareholders are individuals who have invested in this company several times over the years. There shares are restricted for six months or a year depending upon who you ask. I prefer individual shareholders to institutions as individuals are more likely to hang on for higher gains as institutions are more profit motivated and see modest gains as an exceptable ROI.
Ultimately, nothing has changed, we are still moving forward, working to get FDA approval, working to present our product at RSNA and working to manufacture and market once we recieve FDA approval. Let the bashers bash, the whiners whine, it changes nothing, this is a great product and company.
Sincerely,
Dean Janes
Its not converting the platform from 32bit to 64bit as we've always been working on a 64bit platform. It was the language platform that gave us headaches as it said it worked in the 64bit environment but in actuality it only ran on the 64 bit environment in 32bit mode as most programs do right now. Yes we are running on windows, but we have hired two more software developers one for the windows 7 environment and the other on Linux. Linux is more flexible especially in customizing your kernal and memory control though windows vista and 7 work fairly well, especially in C and C++. We decided to go with both platforms and develop simultaneously for quicker results. I would prefer a windows environment as it is better suited for plugins and add on software as Linux is more flexible but you have to build your own drivers or customize others, which is more work.
We have the 3D Visualizer mostly up and running and are working on building the 3D construct and the rest of the algorithm. Once we have those complete we will be ready to plug the system into the beta prototype for testing and streaming of data in real time. With some work there as well as interfacing with our gantry control and image acquizition elements we should be ready to have the ability to generate the new images and CT slice data for our next FDA submission. Our goal is to have this completed by the end of August, drop dead date, though we have been making some fast progress and could be completed much sooner.
About mid August I will host another conference call with a press release in advance so more people can attend and ask there questions. I will update you more then on the progress to date as well as timelines.
Dean
What you seem to miss is that these tv interviews aren't really for you! They are to generate "New" investor interest and though the message may seem old to you, for a new investor it isn't. Since there are over 300 million people in the US alone I think we can add an investor or two. As you may have noticed there have even been new additions to this board directly from seeing Money TV. Not that I'm upset with your post, just want you to keep that in mind...
Dean
I'm glad your experience with Imaging3 has been good. Please let me know if that every changes. Glad to have you as an investor!
Dean
Thanks.. I'm still very excited and committed to this company and product! I know it has been a longer road than all of us would like, but things are what they are. Nothing has changed, this is still a great technology!! I just wish I could share the level of excitement this technology has recieved from peers and competitors alike! Hang in there, this looks like it will be an exciting year!
Dean
Anthony,
I really don't want to get into specifics about our business plan and any sales projections. I can say that we have hundreds of qualified sales leads from our trade show presence at RSNA. There are many sales prospects from my business friends and contacts as well as existing customers. These prospects and contacts are the base from which we will actively work to close prospects, most if not all are only going to close once we recieve FDA approval.
Financing has been already set up as we have many offers contingent upon FDA approval, which range from
$5 Million to $50 Million. The terms are not set as we have to see the PPS impact upon FDA approval, but we will work for the least dillutive deal. Ramping up production will be tough in the first year, but not as tough as many people make it out to be. I have tentitive agreements on the manufacturing side to assist in the ramp up both here and over seas. Luckily the system isn't that difficult to produce and many of the major components are off the shelf.
As I have said before our current facility, though relatively small, (10,000 sqft), can house production of roughly
10 systems a month perhaps more. We plan to expand our production facility and have several sites already prospected for this as well.
There has been a great deal of speculation about a great many things on this site and yahoo's board. I will no longer speculate on the timing of FDA other than we hope to have approval soon, define soon as you see fit. The FDA does not have a two year limit on approval, that was just the language the SEC required for our SB2 filing. As for answering those who choose to bash myself or this company, sell your stock! Thats the beauty of a public company, there is a market for your stock and you aren't forced to hold it.
Lastly, the stock I've been selling isn't hurting anyone but myself. If you've read the current filings I cannot recieve stock in return and must carry this as a non-interest bearing loan. Meaning no dillution, only my stake is lowered, UBS trading has not impacted the stock price, in most instances when they do trade the PPS either remains stable or goes up.
I check the boards often and if there is a question those on this board cannot answer, I'll always do my best to reply.
Dean Janes
The going concern statement has been on our financials since 2002 and is a very typical CYA for the auditors. Brian summed this up very well as most penny stocks typically have this. If it was a accurate reflection of our financial health I don't see how we lasted the 7 years since...
Dean
csmith, The ball is already in the FDA's court right now, we will see where this leads as I think we are making good progress with them. We have been presenting good news, perhaps not the news you would like at this point. I'm definitely not going to be "baited" with estimates on approval, yes this process is taking far longer than it should and what we expected, but as I have said many times with a govt agency it is what it is. I owe my investors a great deal, especially those who have been patient for so long, many have invested before we had an issued patent, before we were a public company and before we filed our FDA application. All I can do to repay that faith in myself and this company is to work as hard as I/we do to get this great product approved and to the market. Hang in there, I know it is frustrating, but the wait is about to be over. As I have said FDA approval is a question of when, not if, in my opinion...
Sincerely,
Dean
Yes, that and most mainstream media should be an easier option! If anyone here has any "in" with a media source I could use any help at that time!
Dean
Ok, we get the point about Money TV already! Having to compete with over 10,000 public companies for investor interest it isn't easy, especially finding a medium which works perfectly. We don't wish to be one of the companies that simply puts out press releases just to say something empty. Money TV does work, not all that great, but compared to other investor awareness programs it is exceptional. We need to build awareness as cheaply and broadly as we can, for when we do make our milestones there will actually be people interested. Remember that ultimately this is a supply and demand issue and we always need to build the demand side. If you have any suggestions we at Imaging3 are very open as there aren't very many legal options for promotion.
Dean
Sure the O translates, tilts and elevates coupled with a table that can do these motions as well as lateral tilting most angles and axis' can be acquired in real time on the fly.
Dean
Chevyman,
I saw this at RSNA as we were next door to Toshiba. It can aquire these images very fast, but the 3D is misleading. I can't get spec info from Toshiba's website to tell you what it actually is. It should confort you that it costs over $3Million, and Toshiba after seeing us at RSNA felt our DViS was a superiour product than there entire CT line, there words not mine.
Dean
There has been a great deal of back and forth, currently the ball is in our court, but will be back in theres before the end of the month.
Dean
My meeting with DARPA keeps getting rescheduled as we have all been very busy. I hope to meet with them this month, I'm just not sure as we have rescheduled three times already. It will happen, I'll update you once I know for sure.
Dean
Tashiboy, thanks for the help as I thought I'd answered that question atleast once or twice. The Medtronic O-arm is a nice system, it costs nearly double as much as the DViS and is no where near real time. If they want to perform real time 3D they would need to redesign their system, cross my patent and use an entirely different detector. Their device stopped short of considering 3D and more importantly 3D real time, but as I stated before it is a nice 360 2D system, just very limited. The good news is they are interested in us as well as their competitor Stryker. Stryker more so as they have no product to answer Medtronics device and package product with Navigation.
Yes, CT is an aspect of our 510k which is adding to the delay of our approval for now. Nothing really over the top, we just have to be careful from this point forward, especially in a new political environment and the latest bashing the FDA has received in the media.
We are not concerned, nor do we think the O-arm is a direct competitor as they have a narrow market focus, a crazy high price and their own system issues. Since the O-arm opens up it has had problems getting stuck in the closed position, I'm told this has happened more than once with a patient on the table.
Dean
Thanks, since most of us don't have access to Fidelity, maybe you could provide what we were rated compared to now, perhaps even provide the report here so other may have the opportunity to read it, good, bad or indifferent.
Thanks,
Dean
Lol, I'm not a big baseball fan, loved to play the game, can't watch it! I like to think our technology is a game changer, many OEM's believe the same. One of Toshiba's CT guys was dumbstruck by it, which say's a great deal as they have been doing very well in CT these days!
Dean
Yes, we have had several meetings with several different OEM's and right now I can't remember who we signed a confidentiality agreement with, so I have to err on the side of safety and not mention there names. All of the meetings went very well, all have followups over the course of the next few months. Some are interested in alliances, partnerships or outright acquizition. All understand the impact and importance of this technology.
Sorry, thats the best I can do for now, I'll fill in more detail later, if and when I can.
Dean
I'm not sure where we stand with those, my CFO is taking care of that issue.
Hawkeyes,
I can't publically comment on who our potential customers might be and the leads we have. This type of info requires a non-disclosure. We will put out press releases with the luminary sites, once we have permission, but we usually will limit that to University Hospitals...
Sorry about the newsletter, we should be sending one out around the first week of February...
Dean
Thanks Chevyman, tired of answering that question. :)
Still in negotiations. I just spoke with them today, they want a customized table to perform many different types of Urological treatments. They have been back and forth over these spec's and other requirements for months, though I hope to have things wrapped up soon. They have already sent two other University Hospitals and clinics in our direction looking for similar products.
We are still working with the FDA. I'll fill you in with progress once I have something concrete to tell you. I really can't elaborate as I don't want to inhibit any ongoing aspects of the process.
Dean
Yes that DARPA!
LOL, yes I'm a workaholic!
Not many discussions with Govt agencies, though I am meeting with DARPA soon.
Dean
Having a patent is definitely not perfect for protecting your intellectual property. Settling this in court can be a long process as well, though Toyota clearly has more to loose. In many cases most bigger companies fear this and find it much cheaper to buy the technology then fight in court. Hopefully these guys had a non-disclosure with Toyota, if so they could recieve 3 times the damages.
Dean
Thanks, the guy who posted the mysterious email emailed me and apologized as he meant nothing bad, he is very much a positive Imaging3 investor and looks forward to our being able to distribute overseas! The CE and UL marks can be someone tricky, but nothing compared to FDA.
Thanks for your support and Happy New Year!
Dean
First off I have NO idea who you are? Second I don't understand the message. I have been very busy this year, obviously, so I am not sure who I didn't meet with??
Dean
If anyone is on Facebook, please add my profile to your friends! I have and will be putting up images there as well.
Happy Holidays!
Dean
Hawkeyes, you as always seem to be ahead of the curve! Yes, we have seen a very substancial interest from both Hospitals and Distributers overseas. There are too many to list, but I believe we have met atleast one in every European country as well as many from Central/South America and Asia. The EU requires a CE mark which will be easier once we have full FDA approval.
Happy Holidays to you as well.
Dean
Thanks, I'll definitely read up on it!
These meetings are for several reasons and vary depending the companies own goals. For the most part they are partnership or acquizition potential. Some may want a private labeled device custom for their needs, but most see the potential for market impact.
Dean
There is always that chance.
Lets not get ahead of ourselves, but in an acquizition, the purchase price would be divided by the issued shares.
Now you got it! That is exactly why we picked the name.
The Toshiba meeting today went very well! Alot of questions about our structure and financials, even an abrupt question if we are being looked at as an acqusition from their rivals. We expect to meet them again after the new year, perhaps more to come...
Dean