TAMPA, Fla., Feb. 8, 2011 /PRNewswire/ -- In the Third Quarter
of 2010, The Board of Directors of International Coastal Biofuels
(OTC MARKETS: ICBU) has elected to change the company name to iMD
Companies, Inc. In addition, a new management team will take
control of ICBU with the objective of propelling the company into
the health and wellness arena. The new management has opted
to alter the basic structure of the firm to that of a holding
company. The new structure has the company looking for
promising acquisitions in the healthcare industry and other related
fields. Saeb Jannoun has been elected Chairman of the Board
of Directors as well as Chief Executive Officer. Bruce
Collett has been named Vice President and to the Board of
Directors.
iMD's management will be led by serial entrepreneurs who intend
to make iMD a serious player in their target areas. Management's
purpose moving forward is to acquire, develop and group, promising
entities under one roof, providing them with the collective power
afforded by their joint assets and economies of scale. This
strategy will prove to be a profitable and financially sound
platform for iMD's success.
As a first step, iMD has completed the acquisition of Integrated
Medical Diagnostics, Inc. Integrated has been performing
ultrasound image analysis for over eight years using a proprietary
measurement and reporting system. The company has been producing
solid revenues for several years. Using a skilled team of
technicians, Integrated has developed the PCI Heartscan report.
This proprietary report measures arterial lining thickness as
well as arterial plaque, providing health care practitioners with a
useful tool in the early detection of cardiovascular disease.
As a plus, Integrated has continued to compile a database using
several statistical markers from the over 40,000 studies it has
conducted. This growing database will prove to be of great
value when key data is extracted, not to mention the market value
of the data itself.
The company's reorganization was approved by the Financial
Industry Regulatory Association (FINRA) effective October 12, 2010. The company was then
approved and cleared the underwriting requirements under the
Depository Trust & Clearing Corporation (DTCC) effective
October 22, 2010.
The company has now been upgraded to fully compliant on the OTC
Markets, Pinksheets Quotation Service. "New management plans
to announce its physical 2011 aggressive growth and expansion plans
shortly" stated Jannoun. "We plan to state our goals clearly and
concisely, and lay out a specific road map on how we plan to
accomplish each and every goal, using the newest and most
innovative marketing strategies created in the marketplace in the
recent years. Our focus will always be on growth internally and
increasing shareholder value externally," Jannoun concluded.
ABOUT IMD COMPANIES, INC.
IMD Companies, Inc., (OTC MARKETS:ICBU) is a Florida corporation, engaged in the medical
diagnostics and health and fitness industries. Its primary products
and services lie in the health and fitness nutraceutical and
medical diagnostics services markets. The company further plans to
expand into the weight-loss industry. The company delivers its
medical diagnostic services on-site participating medical clinics
and physician offices. The nutraceutical supplements, pills, bar
and gels will be marketed and distributed through participating
clinics and on-line web marketing retail methods. The company
will continue to develop its innovative marketing strategies,
including the use of social networking vehicles.
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.
SOURCE IMD Companies, Inc.