Burbank, Calif., March 15, 2018 (GLOBE NEWSWIRE) -- Imaging3, Inc. (OTCQB:IGNG), a development stage company targeting disruptive technologies in the medical imaging industry, is pleased to announce that its board of directors has approved a 1-for-20 reverse stock split of its current outstanding shares of common stock. The pre-split total shares of common stock outstanding was 319,093,077 and post-split total shares of common stock outstanding will be 15,954,907 (subject to adjustment for settlement of fractional shares, which will be rounded up to the nearest whole share).
On March 14, 2018, Imaging3, Inc. received notice from FINRA/OTC Corporate Actions that the reverse stock split will take effect at the open of business on March 16, 2018. A "D" will be placed on the Imaging3, Inc. ticker symbol, IGNG, for 20 business days to alert the public of the split.
About Imaging3 Inc.
Imaging3, Inc., founded in 1993, has developed a patented medical imaging technology, called the Dominion SmartScan™, which can produce real-time 3D x-ray images. The SmartScan technology has the potential to allow healthcare professionals to perform diagnostic and therapeutic procedures more quickly and accurately, resulting in higher throughput for the clinicians and fewer safety risks for the patient. In addition, Imaging3’s technology exposes patients to significantly less harmful radiation than current imaging technologies such as CT scans, which the company believes will allow scans to be used in many settings where there are concerns about radiation exposure. The technology also allows for greater portability, easier installation, and a significantly reduced cost burden for the healthcare system overall. Imaging3 is planning to submit a 510K application to the FDA during 2018 in order to gain marketing authorization for the SmartScan technology.
Visit the company’s website at http://www.imaging3.com for detailed information about the company’s technology.
Safe Harbor Statement
Imaging3 cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in the Imaging3’s business, including, without limitation: the company may not ever obtain FDA approval for any of its devices; the company may not be able to secure the funds necessary to support its product development plans; and the company may not ever achieve the market success to sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger imaging companies, technological obsolescence, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Imaging3 and the risk factors that may affect the realization of forward-looking statements is set forth in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and its Quarterly Report on Form 10-Q. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Imaging3 undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.