IDC Announces Filing Extension for 2019 Annual Report
Calgary, Alberta - TheNewswire - June 3, 2020 - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSXV:IDL) announces that in accordance with the Temporary Exemption from Certain Corporate Finance Requirements per Blanket Order 51-517 of the Alberta Securities Commission, the Company will continue to extend to file its annual financial statements for the fiscal year ended December 31 2019 and the related management's discussion and analysis for the year ended December 31, 2019.
The Company is actively working with its auditors to file the 2019 Annual Financial Statements. The Company is applying a management cease trade order (the "MCTO") from the Alberta Securities Commission. IDC's board of directors and its management confirm that they are working expeditiously to meet the Company's obligations relating to the filing of the Annual Filings. At this time, the Company anticipates being able to complete the Annual Filings by July 15, 2020.
IDC is relying on this extension because of the Coronavirus (COVID-19) pandemic and its unprecedented impact on the general business environment in the Province of Alberta and worldwide.
At this time, other than matters relating to the COVID-19 pandemic generally impacting communities and economies worldwide and not IDC and its business specifically, IDC has no material business developments that require disclosure to the public.
IDC's management and other insiders are currently subject to a trading black out that reflects the principles set out in Section 9 of National Policy 11-207 of the Canadian Securities Administrators and will remain subject to such a black out until the Year 2019 Financials are filed.
About Imaging Dynamics Company (IDC):
IDC is a global medical imaging technology provider and innovative force in the high technology growth field of digital radiography (DR). Digital Radiography is a form of X-ray imaging which replaces conventional film-based diagnostic imaging and provides a cost-effective solution for medical facilities of all sizes to provide high quality diagnostic X-ray images with the use of Flat Panel detectors to enhance the digital image quality and improve the level of healthcare for their patients.
The Company has its corporate office in Calgary, Canada, a sales and marketing office in Beijing, China, and operations, research and development centres in Calgary, Canada and Shanghai, China.
Visit the IDC web site: www.imagingdynamics.com
For more information, please contact:
Mr. Paul Lin
Chief Executive Officer
1.866.975.6737 Toll Free
Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of IDC to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. IDC may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions. Known and unknown risks and uncertainties include: IDC's ability to manufacture its products with a sufficient level of quality and in volumes which satisfy market demand; the ability of IDC to establish direct and indirect sales channels; the ability of IDC to establish industry partnerships; IDC's ability to attract and retain key personnel; the strength and breadth of IDC's patents; and other factors relating to general economic conditions, specific industry conditions and IDC's particular situation.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.