iMD announces refocus on existing Hydroponic Lighting product lines
In addition, the Company has mutually agreed to cancel its pending acquisition of Freedom Seed and Feed. iMD will issue 10 million shares of restricted common stock to Freedom Seed and Feed as a cancelation fee.
“Both management teams agreed that it would be in each company’s strategic best interest to remain independent but affirm our desire to work together in the future. Freedom Seed and Feed will pursue a separate public company listing and we support this decision”, stated Larry Robertson, President of IMD Companies, Inc.
About iMD Companies, Inc.
iMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, engaged in the manufacturing, marketing, and distribution of equipment for the hydroponics industry. The company has recently re-positioned to be a holding company for acquisitions in the Hydroponics industry. Recent acquisitions in those areas is a majority ownership stake in R-Quest Hydroponics Inc. from Anything Technologies Media and Lumz’n Blooms, Ltd., a Manufacturer of Indoor Gardening and Hydroponics Equipment. The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. iMD’s goal is to create and increase shareholder value by tactically growing our core Hydroponics business while strategically seeking to acquire new businesses and create other business alliances, which generate increased revenues and earnings.www.imdcompanies.com
About R-Quest Hydroponics, Inc.
R-Quest Hydroponics, Inc., is a Hardware and Software Manufacturing Company with its headquarters in Placerville, California. R-Quest Hydroponics, Inc. has developed the new Environmental Master Controller EMC-5000 system, which is able to provide constant management for grow room facilities for indoor gardens. The EMC-5000 was developed so that growers can rest easy with the confidence that their crop is in excellent hands. The EMC-5000 is able to regulate and control all aspects of an indoor grow system, including Light cycles to optimize growth, Fans, Nutrient pumps, and CO2 level controls to help manage grow rooms. To see more information on the EMC-5000 go to www.r-questhydro.com.
Safe Harbor Statement
Certain statements made in this press release constitute forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
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