Southridge Partners II enters into a $15 million equity purchase agreement with Imaging Diagnostic Systems, Inc.
September 09, 2011

RIDGEFIELD, CT, September 09, 2011 – Stephen Hicks, Managing Member of Southridge, announced today that Southridge Partners II LP, an institutional investor, has entered into a $15 million equity purchase agreement with Imaging Diagnostic Systems, Inc. (OTCBB:IMDS).

Florida based, Imaging Diagnostic Systems has been engaged in the development, testing and commercialization of a laser breast-imaging system that uses computerized tomography and laser techniques to detect breast abnormalities. The Company’s CT Laser Mammography (CTLM) System® utilizes patented continuous wave laser technology and computer algorithms to create 3-D images of the breast. The procedure differs from traditional breast cancer modalities in that it is non-invasive, painless, and does not expose the patient to ionizing radiation, which can have serious side effects for pregnant women. The system provides greater clarity in identifying tumors and other malignant growths, reveals information about blood distribution in the breast and may visualize the process of angiogenesis; indicative of breast cancer. The Company has sold units in Asia, Europe and in South America. Imaging Diagnostics Systems is looking to increase its presence in international markets and receive product approval in the United States. Imaging Diagnostics Systems’ experienced management team is committed to long-term profitable growth.

Southridge seeks investments in emerging growth areas, domestically and in international markets. Southridge has successfully participated in providing over $1.7 billion in capital to companies in the United States, Asia, Canada, the United Kingdom and Australia amongst other markets.

About Southridge

Southridge is a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies.

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