Imaging Diagnostic Systems (fka IMDS)

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Multipe False and misleading IMDS press releases. NONE of these sales ever materialized. IMDS NEVER received FDA approval.

MEDICAL INDUSTRY TODAY August 23, 1995, Wednesday Laser Mammography Breast-Imaging Units Sold to Asia An initial order valued in excess of $1 million has been received by IMAGING DIAGNOSTIC SYSTEMS (IDSI; Fort Lauderdale, FL) for its CT Laser Mammography breast-imaging laser system. "We've been issued a PO for five systems, and we anticipate delivery in the first quarter of 1996," IDSI Executive Vice President Allen Schwartz told Medical Industry Today. Schwartz said the initial order was from Asia and that the order is in line with foreign demand for the system which detects breast abnormalities in the early stages. "We have so much demand for the machine in Europe and Asia, we are going to continue our sales efforts there." The firm began scanning patients with the system in February in the U.S. The laser system employs a cross-sectional imaging technique which does not use ionizing X-rays. Schwartz said clinical testing is now underway, but doesn't expect U.S. marketing to get underway in the immediate future. "We have six beta test sites right now, and it will take quite some time to collect all the clinical data, evaluate it and then initiate premarketing with the FDA," Schwartz said. The firm, in a press release, said it names Business Asia Consultants as its distributor for the Asia Pacific Rim. It is an export management company based in Miami. CONTACT: Allan Schwartz (305/746-0500)

International Buying Power Corp. News Release: IMAGING DIAGNOSTIC SYSTEMS ANNOUNCES LETTER OF INTENT FOR DISTRIBUTION IN RUSSIA, SWITZERLAND AND AUSTRIA: 1st DEVICE AT THE MOSCOW RESEARCH INSTITUTE AND DIAGNOSTICS AND SURGERY For Immediate Release FORT LAUDERDALE, FL. - December 4, 1995 - Imaging Diagnostic Systems, Inc. (symbol IMDS OTC Electronic Bulletin Board), has announced a letter of intent with one of Europe's largest distributors, Medical Development East (17 offices in Russia, 3 offices in Switzerland and 2 offices in Austria) to place a CT Laser Mammography TM Device at the Moscow Research Institute for Diagnostics in July of 1996. The Company met with August Steiner (of MDE) and Vladimir P. Khartchenko (honoured scientist of the Russian Federation Corresponding, Member of the Russian Academy of Medical Sciences and Professor and Director of all the hospitals in Moscow), at the Radiological Society of North America Convention in Chicago. The first machine to be distributed to the Moscow Institute will be used as a demo machine for Eastern Europe as well as a clinical device to determine breast cancer

REUTERS FINANCIAL SERVICES Imaging Diagnostics Sees $22.5 MLN Sales FORT LAUDERDALE, FLA., JAN. 16 [1996] -- Imaging Diagnostic Systems Inc said it projects sales of $22.5 million for its non-invasive breast cancer detection device based on orders and a surge of inquiries. The device is not yet in production. Imaging president Linda Grable said. But the company is hopeful the Food and Drug Administration will soon give it an investigational device exemption (IDE). Grable said she has initial orders in place with Russia, Austria, and Switzerland for June [1996] delivery."

IMAGING DIAGNOSTIC SYSTEMS RECEIVES ADDITIONAL OVERSEAS ORDERS TOTALING OVER $4 MILLION July 23, 1996 In making the announcement, Linda Grable, President of IDSI, stated, "IDSI is receiving serious inquiries from all over the world and that the contract with E.T.F. is in addition to existing orders previously received from Russia, Asia and the Middle East." Ms. Grable noted that with the recent technological breakthroughs of the company's state-of-the-art imaging system, delivery of overseas orders will begin the first quarter of 1997

REUTERS FINANCIAL Imaging Diagnostic Gets OK to Begin Trials SUNRISE, FLA., FEB 20 [1996] - Imaging Diangostic Systems Inc said Tuesday that it received U.S. Food and Drug Administration approval of its Investigational Device Exemption application and can begin clinical testing of its Computed Tomography Laser Mammography. …When its IDE application is received and accepted, the company said it expects to recoup its costs for clinical trials by selling its CT Laser Mammography machines for clinical use in the United States, while it fulfils orders from the Far East, Middle East and Europe. The company said it projects more than $5 million in sales this year [1996]. In January, the company projected sales of $22.5 million for the device based on orders, though it had not yet begun production of the device. When reached by telephone, a spokeswoman for the company noted that the $5 million projected sales figure is the total expected for the IDE in 1996. The $22.7 million projection [is] for sales of the product on the international market through 1997.

Imaging Diagnostic Signs OEM Agreement With Imation (3M) FORT LAUDERDALE, Fla., Jan. 21 [1998] /PRNewswire/ -- Imaging Diagnostic Systems, Inc. (OTC Bulletin Board: IMDS) announced today that it has signed an OEM purchase agreement with Imation Corporation (NYSE: IMN), a $2.3 billion worldwide leader in the imaging and information industry. Imation is borne of 3M's imaging businesses and has a market presence in more than 60 countries. Imation operates 17 manufacturing, research and distribution facilities. This OEM agreement positions Imaging Diagnostic Systems to market and partner its revolutionary CT Laser Mammography device with Imation's DRY FILM technology described as "the most rapidly adopted system in the history of Medical Laser Imaging." The DRY FILM technology produce by Imation will provide IDSI's end users with the most efficient, economical, and ecological product line in the medical industry. In addition, Imaging Diagnostic Systems will immediately begin to market this DRY FILM technology through its existing distributor network internationally and domestically, through its own marketing efforts. "This relationship can provide immediate revenues as well as generate additional revenues when packaged with the CTLM," stated Linda B. Grable,

IMDS had a history of announcing "sales" every year at the time of the RSNA meeting to move the stock price.

Imaging Diagnostic Systems Expands International Distribution Network As A Result Of RSNA Success FORT LAUDERDALE, Fla., Jan. 23 [1998] /PRNewswire/ -- As a result of unprecedented success due to the images displayed at the 1997 RSNA Conference, Imaging Diagnostic Systems Inc. (OTC Bulletin Board: IMDS) announced today that they have added EMTRON, a leading medical equipment distributor based in the Republic of Turkey to their rapidly expanding international distribution network.EMTRON currently represents products for companies such as Summit Technology, Sunrise Technology, Iris Medical Instruments, Telsar, and Medlab, among many others. "Based on due diligence material received from EMTRON, it appears they have a strong presence in the industry with 30 university hospitals, the Social Security System (which has over 100 hospitals) and larger private hospitals which will give us tremendous exposure in that region," said Linda Grable, President of Imaging Diagnostic Systems. "We feel that the concept of laser mammography fits well in our product scope," stated Dr. Mehmet Melek, President of EMTRON. According to the company, EMTRON will have exclusive rights to market the CTLM(TM) device in the Republic of Turkey for a term of 18 months with an option to renew for an additional one-year term. The company has already secured exclusive distributors for the following territories: Italy, France, South Korea, the Pacific Rim including China, Switzerland, Moscow, Germany, Austria, and Ecuador.

Imaging Diagnostic Signs 9th International Distributor FORT LAUDERDALE, Fla., April 7 [1998]/PRNewswire/ -- Imaging Diagnostic Systems, Inc. (OTC BULLETIN BOARD: IMDS) announced today that it has entered into an exclusive three-year International Distribution agreement with Focus Surgical LTD. Walter Solomon, Managing Director of Focus Surgical LTD has signed an exclusive agreement to market and distribute the CTLM device to hospitals and clinics throughout the United Kingdom and Ireland. The terms of the agreement is for three years, with a minimum purchase requirement of 1O CTLM devices the first year, 12 the second year and 15 for the third year, following Pre-Market Approval (PMA). The Company estimates the value of the contract to be worth no less than eleven million dollars. Mr. Solomon has over 20 years of experience in marketing surgical lasers and has installed over 700 laser systems in hospitals and clinics throughout the United Kingdom. Focus Surgical has entered into Distribution agreements with other companies such as Sunrise Medical Technologies and Baltec to market and sell non-competitive laser products.

SOURCE: Imaging Diagnostic Systems Inc. Imaging Diagnostic Systems Reports Sales at RSNA Medical Conference For the Millennium FORT LAUDERDALE, Fla., Dec. 1 [1999] /PRNewswire/ -- Imaging Diagnostic Systems Inc. (OTC Bulletin Board: IMDS - news) announced today that it has received the first signed and funded orders for its CT Laser Mammography system. The corporation Cycle of Life Technologies, based in Toronto, Canada, has signed an agreement for two systems totaling $500,000 in revenues with the delivery of two additional systems immediately following. The Cycle of Life Technologies has signed a three-year distribution agreement with a commitment of fifty systems to be delivered within two years. Their distribution channel encompasses an extensive network of international hospitals and physician practices. They are the primary suppliers for various medical services and equipment throughout Canada, Europe, South Africa and the Middle East. Cycle of Life Technologies is also involved in the development of DNA diagnostics and gene therapy with ACGT Corporation of Canada and Harvard Medical School.

"Imaging Diagnostic Systems Receives Purchase Orders From Syncor For Three CTLM(R) Systems: 10% Deposit Received For Three Systems" FORT LAUDERDALE, Fla., Jan. 11, 2001/PRNewswire/ -- Imaging Diagnostic Systems, Inc. (OTC Bulletin Board: IMDS) announced today that Haig Bagerdian, President of Syncor Overseas LTD, a subsidiary of Syncor International Corporation SCOR has signed an agreement to deploy three Computed Tomography Laser Mammography (CTLM)(R) systems, accompanied by a 10% deposit to Imaging Diagnostic Systems on January 11, 2001. "Syncor has been a distributor of ours since 1997 covering the areas of the Pacific Rim, China and Puerto Rico. We initiated negotiations for the three CTLM(R) systems at RSNA 2000 but were unable to make the announcement until all terms were finalized and deposits were received. These purchase orders further support Imaging Diagnostics' objective to advance in the arena of a medical manufacturing company for commercial use. We have waited a long time for this moment and will continue our efforts to bring to the industry a much needed and consumer desired medical imaging system," said Linda B. Grable, President. Syncor is a leading provider of high technology health care services concentrating on nuclear pharmacy services, medical imaging, niche manufacturing and radiotherapy. Syncor's medical imaging services are provided through an integrated network of 55 domestic and 11 international owned or operated facilities.

"We actually are going to start marketing internationally first because we just received our CE marking, which allows the company to sell product and market its product in the European markets, also in other markets internationally because it's like an FDA, it's a regulatory system like the FDA But it's the FDA for the European market. Since we just received the CE and we have distributors that we've set up in certain countries we are now able to aggressively promoting and marketing the product to the European markets, while we wait for the FDA approval process to be completed." -- Deborah O'Brien, IDSI VP for Investor Relations - The Wall Street Transcript Co., Feb. 19, 2001.

"We actually are going to start marketing internationally first because we just received our CE marking, which allows the company to sell product and market its product in the European markets, also in other markets internationally because it's like an FDA, it's a regulatory system like the FDA But it's the FDA for the European market. Since we just received the CE and we have distributors that we've set up in certain countries we are now able to aggressively promoting and marketing the product to the European markets, while we wait for the FDA approval process to be completed." -- Deborah O'Brien, IDSI VP for Investor Relations - The Wall Street Transcript Co., Feb. 19, 2001

An Internet search could not find any evidence that Cycle of Life was a major supplier of medical services and equipment anywhere. Around the time of the news release, a Cycle of Life web site popped up, but it appeared to be a sham site with broken links and links that led in circles. The site then disappeared. IMDS's SEC filings showed that the company never received any sales revenues. IMDS revealed a few months after this press release the two "orders" and the $500,000 "sale" was a loan. Most of IMDS distributors are no longer in business, and or have never sold a medical device other than the CTLM.