iMD Companies, Inc. (OTC Pink: ICBU) is a holding company that engages in the manufacturing, marketing, and distribution of hydroponics equipment. Shares of the controlled-environment company are soaring nearly 200%, through early trading on Tuesday, October 11, 2016. Over the past three months, iMD Companies, Inc. has seen average daily volume of around 3.71 million shares. However, nearly 54.97 million shares or dollar volume of $307,832, has already exchanged hands through early trading Tuesday.
Shares of iMD Companies, Inc. is soaring today, after management announced they have completed negotiations to acquire a “$100 million-dollar revenue producing asset.” The company says that they still await audited financials from the company that is selling the profitable asset. Management says they will name the company and give further details on the acquired asset once the audited financial statements are received and approved. The massive deal comes after iMD Companies, Inc. continues to get back on track, as the company just recently reached full-reporting status. Here is the complete press release from iMD Companies, Inc.:
iMD Companies, Inc. Press Release:
PLACERVILLE, CA, Oct. 11, 2016 /PRNewswire/ – iMD Companies, Inc. (ICBU) Board of Directors are pleased to announce that the company has completed its negotiation to acquire a 100-million-dollar revenue producing asset into the company. The acquisition is expected to be a wholly owned subsidiary into the company. The company is waiting for all of the audited financials from the company it plans on acquiring before it announces all the details of the acquisition. Once financials are received from auditors the company will announce the name of the company and expects to do so shortly. The company announced over one month ago that it had completed all of its financials to become current with OTC Markets in anticipation of this first acquisition.
“Now that we have completed all negotiations and terms of this first acquisition we are prepared to take our company to new levels and expect to begin the process to be a QB fully Reporting Company. We feel this acquisition is in the best interests of our shareholders and will create greater shareholder value in the short and long term of the company,” Stated, Richard Wilson, CEO of iMD Companies Inc.
About iMD Companies, Inc.
iMD Companies, Inc., (ICBU) is a Florida corporation, engaged in the manufacturing and distribution in the hydroponics industries and asset accumulations of revenue producing companies. The company is positioned to be a holding company for acquisitions in the medical, mining and hydroponics industries. Acquisitions in those areas are R-Quest Hydroponics from Anything Technologies Media (EXMT). The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. ICBU’s goal is to create and increase shareholder value by tactically growing our core Hydroponics business while strategically seeking to acquire new business and create other business alliances, which generate increased revenues and earnings.