Laser breast imaging developer Imaging Diagnostic Systems has averted serious cash-flow problems, thanks to a $500,000 loan from its distributor, Cycle of Life Technologies.
In addition, many holders of warrants to buy IDSI stock have exercised their outstanding warrants, bringing in an excess of $1 million, according to the firm. IDSI is also reviewing several term sheets from investment bankers for additional equity funding to cover the firm's future needs. As of December 31, the company had cash and cash equivalents of just $17,060.By AuntMinnie.com staff writers
February 23, 2000
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