Imaging Diagnostic Systems (fka IMDS)

[jmurfk]

Companies do not drop product liability insurance period!

IMDS sure did, and clearly stated they can't afford it as the reason for dropping it. They had $1600 at the end of the year, lol.

From yesterday's 10K;

As part of our cost savings initiatives, we cancelled the policy as we have not had any adverse experiences after conducting more than 25,000 patient scans worldwide. We have assumed the risk of product liability. A successful product liability claim against us could have a material adverse effect on the Company. Furthermore, there can be no assurance that, in the future, we will be able to obtain adequate or maintain product liability insurance on acceptable terms.