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Imagin Medical Inc C.IME

Alternate Symbol(s):  IMEXF

Imagin Medical Inc. is a urologic oncology company. It is engaged in developing technologies to better visualize and treat urologic cancers through minimally invasive surgery, including bladder and prostate cancer. Its first product, enCAGE Coil, is designed to eliminate the limitations of other methods of prostate cancer treatment that can cause erectile dysfunction and urinary incontinence. The device is a disposable, focal therapy, precision ablation system that will deliver bipolar, radio frequency energy through a distinctive coil electrode, or cage. It enables the surgeon to preset margins for precise tissue targeting. Its second product, the i/Blue Imaging System, will bring several key technological advancements that improve the utility of blue light imaging for visualizing bladder cancer. The i/Blue System delivers blue light imaging technology in a more versatile, practical, and accessible format and is designed to work with existing fiberoptic endoscopes on the market.


CSE:IME - Post by User

Post by Bobo23on May 26, 2023 6:08am
235 Views
Post# 35465240

Recent filing says they borrowed $ to last until July!

Recent filing says they borrowed $ to last until July!They borrowed money 3/31/23 to last them the next 4 months which I assume means they are out of money at the end of July.  If these guys have not been able to even get close to selling their blue light tech they have been talking about since 2018 (or earlier?) then I assume they will get nowhere by the end of July.  What a stinker of a company! In my opinion. From the recent CSE form 5:

"Subsequent Events Subsequent to the period ended March 31, 2023, the Company entered into an original issue discount, unsecured, non-interest bearing promissory note with Bigger Capital Fund, LP. The purpose of the note is to maintain its corporate existence and operating business for the next four months as it seeks new financial partners. The note consisted of 4 payments of $10,000.00 USD per month for 4 months starting in April 2023 with a maturity date of December 20, 2023. The note will be converted into five times the original amount. In addition, 137,500 incentive stock options with an exercise price of $6.20, expired on April 18, 2023."

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