LAS VEGAS, NEVADA -- (Marketwired - Oct. 9, 2013) - Diagnostic Imaging International Corp. (OTCQB:DIIG) announced today that the Company has repaid $400,000, representing the entire issue, of its Series A notes. The notes were issued in 2009 with a 10% interest rate. Diagnostic Imaging International Corp. made the final repayment on the notes in September 2013 and they are now completely retired.
In December 2012 the Company sold Series B notes and currently have $2.2 million outstanding. These funds were used by the Company to purchase their SMI subsidiary (for more info: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8954134 and http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8950736). There is a 12% interest rate and the notes mature in December of 2015. The Company continues to make payments monthly.
Additionally, Diagnostic Imaging International Corp. is now offering Series C notes up to a maximum of $5 million in gross proceeds from persons, or entities qualified as "accredited investors". The proceeds from these notes will be used for acquisitions the Company is planning for 2013 and 2014.
Mitchell Geisler, CEO commented: "I am very pleased with the completion and retirement of our Series A notes. It represents a milestone being crossed for the company and new projects ahead. With the funding we expect from the Series C notes we will continue to work on our acquisitions as they should carry us to meet our goals in revenue and EBITDA for 2014."
Diagnostic Imaging International Corp., ("DIIG") owns and operates CTS a Teleradiology company, and SMI an MRI clinic. Teleradiology is the process of assessing radiological patient images, such as x-rays, CTs, and MRIs, from one location to another for the purposes of interpretation and/or consultation. CTS provides remote radiology (teleradiology) technology to hospitals and practices, on-call 24 hours a day, 7days a week. CTS connects clients with a global teleradiology network, providing access to global partner facilities and American and Canadian board-certified radiologists. SMI provides full out-patient MRI diagnostic scans and results, and offers its patients both an open MRI and closed 1.5T MRI depending on needs and requirements.
This news release includes forward-looking statements that reflect Diagnostic Imaging International Corp.'s current expectations about its future results, performance, prospects and opportunities. Diagnostic Imaging International Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to Diagnostic Imaging International Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2013 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.