NORTH BAY VILLAGE, Fla.--(BUSINESS WIRE)--On October 16, 2006, Non-Invasive Monitoring Systems, Inc. (OTCBB:NIMU) (“NIMS” or the “Company”) received funding from a group of private investors of an aggregate of $2,357,584. The financing consisted of the voluntary exercise of two types of securities issued previously by NIMS: (a) options, which under NIMS’ recent offer were exercisable to purchase a total of 3,606,005 shares of common stock; and (b) warrants, which under NIMS’ recent offer were exercisable to purchase a total of 11,010,000 shares of common stock. As a result of the recent offer, pursuant to which an additional 20% became issuable upon early exercise of these securities, an aggregate of 14,616,005 shares of the Company’s common stock were issued.
