Imaging3, Inc. (OTCMKTS:IGNG) Files An 8-K Other EventsItem 8.01 Other Matters – Grant of Motion for Summary Judgment against the Company.
On July 27, 2018 the United States District Court for the Southern District of New York granted Plaintiffs’ Alpha Capital Anstalt (“Alpha”) and Brio Capital Master Fund, Ltd.(“Brio”) Motion for Summary Judgment (“MSJ”) against the Company in the total amount of $ 1,274,525 plus 18% prejudgment interest from mid-2017. The Company believes the Court’s ruling was erroneous and intends to file a notice of appeal to the United States Court of Appeal for the Second Circuit within approximately 30 days. Management will continue its efforts begun prior to this ruling to settle with Alpha and Brio on terms acceptable to the parties to the litigation and potential equity investors which allow for a successful pathway for the development of the Company’s disruptive technology. Management has also consulted with bankruptcy counsel to determine to what extent the federal bankruptcy code may be utilized to advance the Company’s settlement efforts, if necessary.
Exhibit 1. Memorandum Opinion and Order of the District Court
IMAGING3 INC Exhibit…To view the full exhibit click