Imaging Diagnostic Systems (fka IMDS)

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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 22801 / September 18, 2013

Accounting and Auditing Enforcement Release No. 3486 / September 18, 2013

Securities and Exchange Commission v. Imaging Diagnostic Systems, Inc., Linda Grable, and Allan Schwartz, Civil Action No. 0:13-cv-62025- (S.D. FL.) (September 18, 2013)

SEC Charges Imaging Diagnostic Systems, Inc., Its Ceo, and CFO with Fraud

The Securities and Exchange Commission today filed an enforcement action in the U.S. District Court for the Southern District of Florida charging Imaging Diagnostic Systems, Inc. (“Imaging”), a Florida-based medical technology company, Linda Grable, its CEO, and Allan Schwartz, its CFO, for making material misstatements and omissions in Imaging’s filings concerning the timing of its Food and Drug Administration (“FDA”) application and concerning Imaging’s failure to remit payroll taxes to the Internal Revenue Service (“IRS”).