Imaging Diagnostic Systems (fka IMDS)

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Check out IMDS 8k, excellent progress.
https://www.sec.gov/Archives/edgar/data/790652/000121390019021403/f8k102319_imagingdiag.htm
On October 23, 2019, Imaging Diagnostic Systems, Inc. ("IDSI") entered into a Consulting Agreement effective as of November 1, 2019, with Dr. Huabei Jiang to serve as IDSI’s Chief Scientific Consultant (the “Agreement”). Dr. Jiang is a Professor of Medical Engineering at the University of South Florida and a fellow of the American Institute for Medical and Biological Engineering, the International Optical Society and the Optical Society of America. He is an expert in optical tomography imaging and has made significant contributions to improvements in the final diagnosis and cure of breast cancer.



Pursuant to the Agreement, Dr. Jiang will focus on improving the technical performance and image quality of IDSI’s Computed Tomography Laser Mammography (CTLM®) breast imaging device.



The Agreement is for a term of three years, subject to satisfactory completion within one year of the Consultant’s Initial Project relating to improvement of the CTLM®’s image display resolution and accuracy. As compensation for his services, Dr. Jiang will receive $500,000 for satisfactory and timely completion of the Initial Project and $500,000 per year for two years thereafter based on satisfactory completion of work and projects to be approved by IDSI. In connection with the Agreement, IDSI issued to Dr. Jiang a nonqualified option to purchase 2,000,000 shares of its common stock at a price of $.51 per share. One-fourth of the option (500,000 shares) vested upon execution of the Agreement, and the balance of the option will vest 500,000 shares per year on the first three anniversaries of the Agreement. The option expires five years from the date of grant.



IDSI believes that the Agreement with Dr. Jiang and the expected improvement of the CTLM®’S image quality by Dr. Jiang will materially benefit IDSI by (i) enhancing marketing and sales of the CTLM® in China, (ii) better enabling the application of the CTLM® in the field of neoadjuvant therapy and (iii) leading to development of multi-modal products in the future for accurate and early detection of breast cancer. Nonetheless, there can be no assurance that Dr. Jiang’s efforts will be successful.