SOURCE: Imaging3, Inc.

Imaging3, Inc.

March 24, 2011 07:00 ET

Imaging3, Inc. Announces Management Stock Buy Back Plan

BURBANK, CA--(Marketwire - March 24, 2011) - Imaging3™, Inc. (OTCBB: IMGG), developer of a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time, today announced that its Board of Directors has approved the repurchase of an aggregate of up to 5% of its outstanding Common Stock, by the Company's management, effective immediately.

Dean Janes, Chairman and CEO of Imaging3, commented, "Our open market purchases by management over the course of the next year reflects management's continued confidence in Imaging3's business strategy and growth prospects as we continue the FDA approval process. Based on current market prices, we believe the repurchase program is in the best interests of our shareholders," further stated Mr. Janes.

The shares will be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions, in accordance with Rule 10b-18 and the reporting and other requirements of section 16 of the Securities Exchange Act of 1934, as amended. There is no guarantee as to the exact number of shares that will be repurchased by the Company's management, and the Company's management may discontinue purchases at any time that the Board of Directors determines additional purchases are not warranted. The repurchase program is expected to continue over the next twelve (12) months unless extended or shortened by the Board of Directors.

About Imaging3
Imaging3, Inc., founded in 1993, is a leading provider of advanced technology medical imaging devices. The Company has developed a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time. Because these 3D images are instantly constructed in real-time, they can be used for any current or new medical procedures in which multiple frames of reference are required to perform medical procedures on or in the human body. Visit the company's website at http://www.imaging3.com for more information

Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, technological obsolescence, competition from other medical instrument(s) and imaging companies, lack of capital, unexpected costs, failure or delay of FDA approval, absence of revenue, the impact on the national and local economies resulting from an economic recession or terrorist actions, and U.S. actions subsequently; unavailability of financing for the Company or its customers, product malfunction and potential product liability claims, and other factors detailed in reports filed by the Company.

Contact Information

  • Contact:
    Imaging3, Inc.
    Investor Relations
    800-900-9729