Imaging Diagnostic Systems (fka IMDS)

[jrg]

Southridge LLC Provides Funding Through Private Equity Agreement with Imaging Diagnostic Systems, Inc.

NEW YORK, Dec 14, 2009 (BUSINESS WIRE) -- Southridge LLC ("Southridge"), an investment firm that provides financing to small-cap and micro-cap companies, is pleased to announce that its affiliated fund has closed a private agreement which can provide up to $15 million in equity financing to Imaging Diagnostic Systems, Inc. ("OTCBB: IMDS").
"Through the years of financing the growth of Imaging Diagnostic Systems, Southridge has paved a way for IMDS to continually produce new developments in the field of early breast cancer detection," said Stephen Hicks, founding principal of Southridge LLC.

IMDS is a revolutionary medical technology company located in Plantation, Florida, which has developed a new imaging device to aid in the detection and management of breast cancer. The Company's Computed Tomography Laser Mammography (CTLM(R)) system is designed to detect breast abnormalities in a non-invasive procedure through the use of non-invasive laser technology. Since the establishment of the Company in December 1994, IMDS has been engaged in the development and testing of the system. Currently seeking United States FDA approval, IMDS has commercialized the CTLM(R) system in certain international markets.

IMDS has entered the final stages of the FDA Pre-Market approval process for its CTLM (R) patented breast imaging system. The company has received CE Marking, CMDCAS (Canada), Canadian License, UL listing, ISO 9001:2000 ISO 13485:2003 certification, China SFDA and FDA export certification, enabling sales in international markets.

Southridge seeks strategic investments in emerging growth areas, domestically and in international markets. Southridge has successfully participated in financings in markets ranging from the United Kingdom, to companies based in China and Australia and others listed on United States domestic exchanges.

I have been doing my DD for the past few months and I think now may be a good time to invest. I can see there has been very little discussions on this board.
For all those who have been following this stock, I would appreciate a little insight.

Any thoughts?