Medical Imaging Corp (MEDD)

[brian39]

Diagnostic Imaging International Corp.
Current Price : $.04
O/S: 18,106,481 as of 08/20/12
Market Cap: $724,259
OTCQB Listed
Fully Reporting
Profitable
EBITDA of $.012 for 2012 / PE 3.33
Projected EBITDA for 2013 $.04 / Projected PE 1.00
60% Gain in EBITDA after 1st MRI Clinic Purchase (Underway)
Company Plans to Buy Several Additional MRI Clinics
Stock went from $.05 to $.12 last week on under 75,000 shares
No Dilution: 48,380 Average Volume (30 Days)
Entry into a Material Definitive Agreement


Item 1.01 Entry into Material Definitive Agreement.
On August 13, 2012, Diagnostic Imaging International Corp. (the "Company") entered into a Share Purchase Agreement with the owners of a MRI facility (the "Facility") located in the greater Philadelphia region (the "Share Purchase Agreement"). Pursuant to the terms of the Share Purchase Agreement, the Company is to purchase all of the outstanding capital stock of the Facility for an aggregate purchase price of $1,950,000, plus a possible earn-out payment of up to $200,000 if certain post-closing revenue targets are met. Under the terms of the Share Purchase Agreement, the Company has made a non-refundable payment of $20,000 to the Facility, which will be credited against the purchase price at closing.

Consummation of the transaction is subject to certain customary closing conditions, including, among other things, the satisfactory completion of the Company's due diligence review of the Facility, the continued regulatory compliance of the Facility, the completion of a financial audit of the Facility, which shall be acceptable to the Company, and the continued employment of specified personnel of the Facility. Additionally, the acquisition of the Facility may be abandoned by the Company at any time, in its sole discretion. The Company will have to obtain financing for the purchase price, and there can be no assurance that the Company will be able to obtain the necessary funds on terms acceptable to it or at all. Subject to the satisfaction or waiver of all closing conditions, and obtaining the necessary financing, the Company expects to close the transaction by October 15, 2012.

Form 8-K for DIAGNOSTIC IMAGING INTERNATIONAL CORP

12-Oct-2012

Entry into a Material Definitive Agreement


Item 1.01 Entry into Material Definitive Agreement.
On October 11, 2012, Diagnostic Imaging International Corp. (the "Company") entered into an amendment of the Share Purchase Agreement with the owners of an MRI facility (the "Facility") that was originally agreed to on August 13, 2012. The new amendment extends the closing date of the original transaction to November 29, 2012.

Consummation of the transaction is subject to certain customary closing conditions, including, among other things, the satisfactory completion of the Company's due diligence review of the Facility, the continued regulatory compliance of the Facility, the completion of a financial audit of the Facility, which shall be acceptable to the Company, and the continued employment of specified personnel of the Facility. Additionally, the acquisition of the Facility may be abandoned by the Company at any time, in its sole discretion. The Company will have to obtain financing for the purchase price, and there can be no assurance that the Company will be able to obtain the necessary funds on terms acceptable to it or at all. Subject to the satisfaction or waiver of all closing conditions, and obtaining the necessary financing, the Company expects to close the transaction by November 29, 2012.



NOTHING HERE ABOUT NOT BEING ABLE TO AFFORD FINANCING... THEY WOULDN'T PR TO AQUIRE IF THEY COULDN'T DO IT... JUST LIKE MANY WOULDN'T GO BUY A CAR WITH NO MONEY.

DIIG looking nice, excited for next month..

GLTA