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IMDS STOCK REVOKED- August 1, 2014
AUGUST 1- SEC INITIAL DECISION
http://www.sec.gov/alj/aljdec/2014/id646bpm.pdf
IMDS REVOCATION- Complete list of orders and judments
http://www.sec.gov/litigation/apdocuments/ap-3-15864.xml
SEC order to revoke stock May 8 2014
http://www.sec.gov/litigation/admin/2014/34-72121.pdf
IMDS answer to SEC petition to revoke stock
http://www.sec.gov/litigation/apdocuments/3-15864-event-6.pdf
postponing the hearing to June 2 2014- telephonically
http://www.sec.gov/alj/aljorders/2014/ap-1462.pdf
Order scheduling hearing on June 2 2014
http://www.sec.gov/alj/aljorders/2014/ap-1426.pdf
order following pretrial hearing on June 5
http://www.sec.gov/alj/aljorders/2014/ap-1492.pdf
SEC Motion for Summary Judgment to revoke stock June 20 2014. This is a MUST READ. The SEC has IMDS NAILED. 285 PAGES of a Motion with undisputed FACT after FACT showing what a scam IMDS has and is.
Go to page 237 to see Grable's sworn deposition before the SEC on 1/28/2013. VERY INTERESTING INDEED. SHE LIED THROUGH HER TEETH. Lintro scan had 510k approval? Is that why the machines were siezed by US Marshalls on orders of the FDA? She threw Allan under the bus and said she did NOTHING except raise money and hire/fire people? As a CEO? Grable said Daughter Deb 'USED TO BE VP OF THE COMPANY' She left in 2012?. NO notice to the public the SR VP in charge of the PMA resigned in 2012? Who is Deborah Sykes- listed as current VP. Deb got married .Linda lied again? Count how many time she says "I don't remember" You really think playing the sick old woman is going to make the SEC go easy on you?
I love the question by the SEC- "what was (Deb) VP of?" Grable answer- "JUST VP"..
Read what she says about David Smith who resigned and their current part time COO who comes in a few months of the year from Canada
Read the lies about the current FDA status and former FDA rejections. Page 60 of her deposition-- she swears under oath that she doesn't know if the SEC filings made in 2008 about enough cases for PMA were accurate. The SEC knows IMDS lied about that and hammered her throughout this deposition. Pages 75 on
On page 91 Grable finally slips and admits IMDS only had 100 cases and needed 125 to submit the PMA and she KNEW THIS in November 2008, yet IMDS still told the public they had sufficient number of cases.
Page 63&73 FUNNY- IMDS filed SEC papers with the FORMER CEO's signature in September and October 2008, even though GRABLE was CEO at the time.
Page 104 - Grable admit she lied in another SEC filing in 2009 that IMDS had sufficient number of scans.
Page 118-128- Grable knew in March 2010 they were going to file a 510k and never disclosed to public
pages 136 on about the 510k and the scathing FDA rejection
pages 151-153. IMDS own radiologist stated the CTLM could not detect angeogenesis in highly aggressive or low grade cancers.
pages 156-157 IMDS failed to disclose in their PR dated 8/3/2011 the 510k was denied
160-167. Classy Grable tells the SEC they are "full of crap" and said she called the SEC to tell them they were wrong- even though the FDA denied the 501k.
What a complete POS.
http://www.sec.gov/litigation/apdocuments/3-15864-event-11.pdf
IMDS response july 7 2014. Gives a good look at the internals of this scam.
Question for the SEC. Why are Grable and Schwartz referred to in the SPA as "COMPANY REPRESENTATIVES" when the SEC ordered them to resign and BARRED from involement in penny stocks?
In the SPA IMDS states there are 9.8 BILLION shares outstanding, and there are not enough shares to cover the conversion of preferred shares. All 51 of Grables preferred shares are cancelled on the closing of the first tranche.
page 83- see the price of the stock these new people are paying .00007 /share. 85 BILLION shares
page 86- IMDS being sued by multiple parties
for $714,000 by a lender
for $23,000 by Thompson Ruetuers for EDGAR filings
for $83,000 by their landlord for unpaid rent
PAGE 88 . IMDS IN DEFAULT OF PAYMENTS TO IRS of 1.574 MILLION DOLLARS
IMDS IN DEFAULT ON ALL 21 PROMISSARY NOTES 1MILLION DOLLARS
Page 97- IMDS 5.1 MILLION DOLLARS IN OUTSTANDING DEBT AND LIABILITIES
page 112 USE OF PROCEEDS-- $500k for DAILY OPERATING EXPENSES? $800K to service existing debt?
NO deal done yet as they have to file a 8k by the 4th busines day after the deal is closed.
order granting IMDs a ONE DAY extension for a reply to July 21,2014
http://www.sec.gov/alj/aljorders/2014/ap-1629.pdf
SEC MOTION FOR SUMMARY JUDGMENT
The SEC makes the case- IMDS can't BS their way out of this.
http://www.sec.gov/litigation/apdocuments/3-15864-event-15.pdf
SEC AMENDED MOTION- as if they needed to further make the case
AND.... DRUMROLL PLEASE...........................
AUGUST 1- SEC INITIAL DECISION
http://www.sec.gov/alj/aljdec/2014/id646bpm.pdf
I GRANT the Division of Enforcement’s Motion for Summary Disposition and,pursuant to Section 12(j) of the Securities Exchange Act of 1934, REVOKE the registration of each class
of registered securities of Imaging Diagnostic Systems, Inc
This Initial Decision shall become effective in accordance with and subject to the provisions of Rule 360 of the Commission’s Rules of Practice.See 17 C.F.R. § 201. 360. Pursuant to that
Rule, I FURTHER ORDER that a party may file a petition for review of this Initial Decision within twelve days after service of the Initial Decision.See 17 C.F.R. § 201. 360(b). A party may also file a motion to correct a manifest error of fact within ten days of the Initial Decision, pursuant to Rule 111 of the Commission’s Rules of Practice. 17 C.F.R. § 201.111. If a motion to correct a manifest error of fact is filed by a party, then that party shall have twenty- one days to file a petition for review from the date of the order resolving such motion to correct a manifest error
of fact. The Initial Decision will not become final until the Commission enters an order of finality. The Commission will enter an order of finality unless a party files a petition for review or motion to correct a manifest error of fact or the Commission determines on its own initiative to review the Initial Decision as to a party. If any of these events occur, the Initial Decision shall not become final as to that party. 17 C.F.R. § 201.360(b)(1)
http://www.sec.gov/litigation/apdocuments/3-15864-event-16.pdf
Brenda P. Murray
Chief Administrative Law Judge
NOW, when are the SEC and IRS criminal proceedings going to start.
Nope. But Stockmasterflash raises a curious question. Would the SEC provide assurance that with the 2.5 million cash infusion and provided IMDS files, the stock will not be revoked?
We all know (or are using our best guesses) that there will be no money if the stock is revoked, as this is all about saving Grable's bacon. It's her money anyway right? So why throw it away if the stock is dead and they can't sell more shares.
You would think if the deal was consumated IMDS would have issued a PR.
So, which does come first.
The SEC filed it's brief to the judge on IMDS revocation of the stock on july 20.
GOOD MORNING MR. FONG AND THE NEW OWNERS OF IMDS! (wink wink)
What news do you have for everyone? Are the Grable kids still employed? Who owns the patent? When will you be filing with the SEC?
Makes you wonder about all of those foreign posters over the last few years pumping the stock. A three month old company out of no where decides it's first and onlybusiness venture is to throw 2.5 million dollars at this scam?
Nothing with IMDS is coincidence. Hopefully the SEC will connect the dots.
Fyi-Barsom is from MA not NY.
Anyone see the surfer boy and Deb packing up today?
Sanyo is listed out of the same office
SANYA WANBO INVESTMENTS, LTD. CO.
1221 E. ROBINSON STREET
ORLANDO, FL 32801 UN
What is wierd is this COMPANY is listed as an officer of Viable Investments, another recent startup company at the same location. How many shell companies are running out of this same office? As with most shell companies associated with this scam, there are no other records of either company besides this transaction with IMDS. It would not be the first time IMDS established shell companies as busines partners.
Is this the new IMDS? Brand new company at that address.
Detail by Entity Name
Foreign Profit Corporation GLOBAL MEDICAL IMAGING SYSTEMS, INC.
Filing Information
Document NumberF14000001170 FEI/EIN Number465024760 Date Filed03/13/2014 StateDE StatusACTIVE
Principal Address
1221 E. ROBINSON ST
ORLANDO, FL 32801
Mailing Address
1221 E. ROBINSON ST
ORLANDO, FL 32801
Registered Agent Name & Address FONG, DAVID
1221 E. ROBINSON ST
ORLANDO, FL 32801
Officer/Director Detail Name & Address
Title D
FONG, DAVID
1221 E. ROBINSON ST
ORLANDO, FL 32801
Title P
FONG, DAVID
1221 E. ROBINSON ST
ORLANDO, FL 32801
Annual Reports
No Annual Reports Filed
More likely a loss of $100 on $100 is coming. The stock is currently NO BID. That is what you get today for your $100. Your post is pure speculation.
It would be very interesting to know where this angel investor money originated from. ACH/wire transfers leave a trail so they can be traced. Numbered account in the Far East is my guess. Remember when Barsom stated Grable was Asian and had Asian connections?
Unless my math is wrong- 600 preferred shares x 147 million common shares per each preferred share results in 88 billion common shares.
Mind boggling to say the least.
That is what all penny stock scams use to lure in rubes. 99.999% of them never happen. Do you know of anyone who has made money on this stock oher than the insiders, toxic lenders, and paid promoters? Can you provide one post where someone stated for a fact they sold this stock for a profit?
How many shares do you own of IMDS and are you buying more?
The only reason IMO IMDS is fighting to not have the stock revoked is to be able to sell more stock. Name one redeeming value contained in IMDS that a potential buyer would want.
What exactly is IMDS business plan? Who is qualified to run IMDS. When does the patent on the technology expire and who holds that patent? Can you provide any information on the accountant in Florida who is fronting this money?
How many CTLM's has IMDS sold in the last 10,5,3 and last year?
You do realize that 3 out of the 4 executives listed on those forms are no longer employed by IMDS? Addley resigned well over a year ago and submitted a rather scathing resignation letter. Grable and Schwart were forced to resign as a result of an SEC investigation and subsequent settlement.
Regardless, what is the purpose of posting outdated information?
The SEC wants them to be compliant with reporting and other provisions. IMDS doesn't have the money unless they get this "financing". We all have opinions where this money originated. Pure speculation but seems most likely Grable or an affiliate repatriating some money to keep the scam going,pay off the IRS lien, and keep her out of club Fed.
Remember Grable pilfered over 1 million from the IRS employee trust fund. Where did that money go? IMDS raised over 130 million dollars since inception. Where did that money go? Certainly not into R&D, equipment, or anything else for the business. The majority of momey went to salaries, stock option, and other perks for the insiders.
The SEC already had the hearing and date for IMDS to respond has passed. As usual we will not know what happened until the SEC reports it.
Now you know why these mystery "foreign" angels appeared out of no where with a bag of money. Watch what happens over the next week. It should be ineresting. Glad to see the SEC has this scam on their radar.
SEC filed an action May 8 2014 to revoke IMDS stock
http://www.sec.gov/alj/aljorders/2014/ap-1492.pdf
I encourage people to go back and look at the individuals and content of posts beginning May 8 through the end of May, during this time that IMDS knew about the SEC action but the public did not. It is very telling IMO to revisit with the new found disclosure.
It will be interesting to see if the SEC makes IMDS disclose the source of this funding,
Well, we all know with scam stocks like this how they work. IMDS is no different than many others, they just lasted longer.
Grable will probably walk away with the IRS lien being paid off by these "foreign" investors- wink wink- and then they change they let IMDS go BK, change the name and wash, rinse, repeat with surfer boy and daugher Deb in charge. Grable owns the patent that expires next year so it is not hard to figure out where this is heading.
Grundle,
If you do some due diligence your question will be answered.
Go to the website that discusses paid promoters and read #8.
More fairy tales. Not one shred of evidence to support this.
There is NO business for IMDS. Hasn't been for years. Quit lying.
Why would you love investor's losing all of their money? That is pretty sick.
It was delisted and is now a gray sheet skull and crossbone stock.
I have stated for years the SEC will hold the scammers responsible.
Tell us what the company does and what their current business plan and prospects are. What possibly could be turned around here.
And if the Easter Bunny pooped gold eggs that would be nice too.
Tell us when over the last 20 years IMDS EVER bought back 1 share. Grable and her family are out for #1.. Period. Where do you think this money came from? Overseas.lol
Want to bet you see the IRS lien paid off the day after this deal closes?
Stop spreading fairly tales.
There is NO buyback. This is ADDITIONAL shares that will wipe out all existing s/h. Stop misleading people.
What part of that statement is not accurate.
Bsnkruptcy? Another SEC investigstion? S/h totally wiped out?
That's the only news I see coming. I guess if I was someone that bought and is down 99.999% I'd be in denial too!
I think we are in agreement here. Offshore money coming home to pay off the IRS liens, etc. Some little CPA in a storefont wakes up and decides to throw millions at a scam company because? Be very interesting to follow the money to see where the funds came from.
Doesn't take a weatherman to know which way the wind is blowing.
I disagree. The 2.5MM will pay off the liens and the toxic lenders will receive a workout on the amounts owed, then they can BK the company.
That IMO is the game plan here. Then start up a new scam with a clean slate.
They are not getting 6 million. Read the T&C's- they are only promised the first tranche- $2.5MM. Enough to pay off Grable's IRS and other liens. The 2nd tranche is tied to a PMA, which we know is never happening.
IMO this is nothing more than a golden parachute for Grable.
Let's see- a four month old shell company, with an address in a storefront. Seme address as a CPA who is listed as the main member. No other record of this company and no record of Sonya Wanbo other than this transaction. They hire a lawywer who specializes in foreign workouts and private placement deals. Unnamed foreign investors who happen to think this POS scam is the best place to throw away 2.5 million dollars, and just by coincident will pay off the IRS lien and SEC fines for all. Probably pay off Southridge and then file BK.
Like you said, Grable pilfered millions over the years and probably moved most of it overseas. This deal looks very similar to the scammy Edomed deal for the building a few years back. This reeks of a final going away middle finger to the SEC.
VIABLE INTERNATIONAL INVESTMENTS, LLC
Filing Information
Document NumberL14000028117 FEI/EIN NumberNONE Date Filed02/19/2014 StateFL StatusACTIVE
Principal Address
1221 E. ROBINSON STREET
ORLANDO, FL 32801
Mailing Address
1221 E. ROBINSON STREET
ORLANDO, FL 32801
Registered Agent Name & Address FONG, DAVID
1221 E. ROBINSON STREET
ORLANDO, FL 32801
Authorized Person(s) Detail Name & Address
Title AMBR
SANYA WANBO INVESTMENTS, LTD. CO.
1221 E. ROBINSON STREET
ORLANDO, FL 32801 UN
Title MGR
YANG, LIXIN
1221 E. ROBINSON STREET
ORLANDO, FL 32801 UN
Title MGR
YEUNG, HOI PO
1221 E. ROBINSON STREET
ORLANDO, FL 32801 UN
Viable International Investments, LLC is a Florida Domestic Limited-Liability Company filed on February 19, 2014. The company's filing status is listed as Active and its File Number is L14000028117.
The Registered Agent on file for this company is Fong David and is located at 1221 E. Robinson Street Orlando, FL 32801. The company's principal address is 1221 E. Robinson Street Orlando, FL 32801 and its mailing address is 1221 E. Robinson Street Orlando, FL 32801.
The company has 3 principals on record. The principals are Sanya Wanbo Investments, Ltd. Co. from Orlando FL, Lixin Yang from Orlando FL, and Yeung Hoi Po from Orlando FL.
Fong David Y CPA
1221 E Robinson St
Orlando, FL 32801
Tel.: (407) 894-1557
Property address 1221 E Robinson St
Orlando, FL 32801
Parcel ID 292225176000030
Neighborhood Colonialtown South
Land
Acreage .158
Property class Store/Office/Converted Residential
Zoning O-1/T
Building
Year built 1923
Square footage 1,309
Stories 1
Rooms 5
Market Value and Taxes
Tax year 2013
Property tax $3,354.28
Land value $117,215
Building value $50,185
Extra features value $1,500
Market value $168,900
I hope the SEC is looking into this.
We all know they were never in this for the technology. It was always about making themselves wealthy, using breast cancer as the hook. Grable has been scamming people for 30 years now- Lintronics and IMDS.
IMDS cannot or is intentionally not paying their State of Florida tax, a mere $2000 or so. How are they paying rent, vendors, and the IRS?
New State of Florida Lien on IMDS
Type: (LIE) Lien
Record Date : 5/30/2014 7:48:38 AM
Lienor: FLORIDA STATE DEPT OF REVENUE
Lienee: IMAGING DIAGNOSTIC SYSTEMS INC
Book Type: O
Book / Page: 50815 / 1479
# of Pages: 1
Delinquent Sales Tax/Fines/Penalties $2078.44
No problem. Devcool should be able to pay that for them. Seeing how is an integral part of the company. LOL