FORT LAUDERDALE, Fla., April 6 /PRNewswire-FirstCall/ -- Imaging Diagnostic Systems, Inc., (“IDSI”) has announced a clarification of the comments of its Chief Executive Officer, Tim Hansen, set forth in the March 23, 2006, press release by Southridge Capital Management LLC (“Southridge”), a registered investment adviser, titled “Southridge Capital Management LLC Managed Funds to Provide Up to $15 Million in Financing to Imaging Diagnostic Systems, Inc.” Mr. Hansen’s comments may have appeared to imply that Southridge provided the referenced $15 million equity financing facility and prior financing. In fact, as stated elsewhere in the Southridge press release, the $15 million facility was provided by a fund advised by Southridge. The name of the fund is Charlton Avenue LLC (“Charlton.”) The prior financing referenced was also provided by Charlton and other funds advised by Southridge. IDSI regrets any misunderstanding caused by Mr. Hansen’s comments.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040412/IMDSLOGO )
Imaging Diagnostic Systems is seeking FDA Pre-Market Approval (PMA) for its Computed Tomography Mammography (CTLM(R)) system to be used as an adjunct to mammography. The Company’s PMA application will be submitted in its entirety at the completion of the data collection and review process. The FDA has determined that the Company’s clinical investigation is a non-significant risk (NSR) investigational device study because it does not meet the definition of a significant risk (SR) device under 812.3(m) of the investigational device exemptions (IDE) regulation (21 CFR 812). The CTLM(R) system is the first patented breast imaging system that utilizes state-of-the- art laser technology and patented algorithms to create 3-D cross-sectional images of the breast. It is a non-invasive, painless examination that does not expose the patient to radiation or require breast compression. Imaging Diagnostic Systems has received CE Marking, CMDCAS (Canada), Canadian License, China SFDA approval, UL listing, ISO 9001:2000-13488 certification and FDA export certification for its CT Laser Mammography system.
Please visit Imaging Diagnostic Systems’ website at: http://www.imds.com for additional information.
In conjunction with the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performances and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectation. Further information on potential factors that could affect Imaging Diagnostic Systems, Inc., is included in the Company’s filing with the Securities Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.
Investor Relations: Rick Lutz 404-261-1196 lcgroup@mindspring.com
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040412/IMDSLOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comImaging Diagnostic Systems, Inc.
CONTACT: Investor Relations, Rick Lutz, +1-404-261-1196, orlcgroup@mindspring.com, for Imaging Diagnostic Systems
Web site: http://www.imds.com/