iMD Companies, Inc. provides initial cash financing
TAMPA, FL, April 10, 2014 /PRNewswire/ - iMD Companies,
Inc. (OTC: ICBU) Board of Directors are pleased to announce
they have closed the acquisition of Lumz'n Blooms, Ltd. a
Manufacturer and distributor of products and services for
commercial and private growers. General terms of the deal
include a cash component to be paid by iMD Companies, 10 MM shares
of restricted stock and incentive bonuses based on
performance. Founded in 2006, Lumz'n Blooms, LTD. has a grown
its business year over year and generated revenues of over
$2 million in 2013 with positive cash
flow.
This acquisition will enable Lumz to meet its growing demand and
expand iMD's footprint in the emerging "growers" market. Lumz
brings expert staffing as well as an established and solid customer
base to the iMD. And will provide a "core" operating
business. The capital infusion and corporate support
will allow Lumz to take advantage several lucrative opportunities
that have evolved as a result of successful marketing
efforts. iMD's and Lumz goals are extremely
complimentary and this acquisition should add significantly to both
revenue and earnings going forward.
Lumz'n Blooms, LTD.'s main products allow consumers to "Bring
the Sun Indoors". Lighting, ballasts, growing materials are
considered the "Pickaxe and Shovel" of the "Green Rush". Over
the past 7 plus years Lumz'n Blooms has developed strong
distribution channels and today counts Central Garden and Pet,
HomeDepot.com, Amazon Prime, Bi-Mart, Orchard Supply as well as
hundreds of independent Nursery, Hardware and Hydroponic Retailers
among its customers. These established distribution channels,
combined with their extensive product line and industry knowledge,
makes Lumz'n Blooms a foundational acquisition for building future
growth.
"Our goal is to have Lumz'n Blooms, LTD. products be the most
widely distributed brands in the industry and first on the shelf at
mainstream retailers. Large retailers have realized the magnitude
of this growing market and are contacting Lumz to fill the
gap, iMD provides us the platform required to make this
happen", stated Brian Tucker
President of Lumz'n Blooms, LTD For more information go to
www.Lumz-n-Blooms.com , www.TuckersPride.com and
www.InHomeGardening.com
Larry Robertson CEO of ICBU stated, "This acquisition will give
us the opportunity to expand our product lines directly into the
mainstream market for indoor Hydroponic growers, and Indoor
Gardens. By owning Lumz'n Blooms, we will exponentially increase
our distribution channels for both the Lumz products as well as the
EMC-5000 systems, which is the flagship product of R-Quest
Hydroponics, our joint venture with Anything Technology Media, Inc.
(OTC:EXMT). This acquisition will enable Lumz the ability to
expand its presence at trade shows, provide co-op advertising for
major retailers, support retail trials, promote product through
print, social and other media outlets, develop POS displays, as
well as new product development. "This will afford Lumz the ability
to expand its presence at trade shows, provide co-op advertising
for major retailers, support retail trials, promote product through
print, social and other media outlets, develop POS displays, as
well as new product development."
About iMD Companies, Inc.
iMD Companies, Inc., (OTC
MARKETS: ICBU) is a Florida
corporation, engaged in the medical diagnostics and health
industries. The company is has recently re-positioned to be a
holding company for acquisitions in the medical and marijuana
industry. Recent acquisitions in those areas are R-Quest
Hydroponics Inc. and Greenlinks Inc. Currently the primary products
and services lie in the health and medical diagnostics markets. The
company and the principals of the management team have extensive
backgrounds in finance, new technologies, manufacturing, marketing
and distribution. ICBU's goal is to create and increase
shareholder value by tactically growing our core Hydroponics
business while strategically seeking to acquire new businesses and
create other business alliances, which generate increased revenues
and earnings.
About R-Quest Hydroponics, Inc.
R-Quest Hydroponics,
Inc., is a Hardware and Software Manufacturing Company with its
headquarters in Placerville, California. R-Quest Hydroponics,
Inc. has developed the new Environmental Master Controller EMC-5000
system, which is able to provide constant management for grow room
facilities for indoor gardens. The EMC-5000 was developed so that
growers can rest easy with the confidence that their crop is in
excellent hands. The EMC-5000 is able to regulate and control all
aspects of an indoor grow system, including Light cycles to
optimize growth, Fans, Nutrient pumps, and CO2 level controls to
help manage grow rooms. To see more information on the EMC-5000 go
to www.r-questhydro.com .
www.imdcompanies.com
SOURCE IMD Companies, Inc.