ORLANDO, Fla., May 15, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced it has issued a fourth quarter 2007 research update on Imaging3, Inc. (OTCBB:IMGG), a leading medical device manufacturer, distributor, and third-party service provider.
Gaurav Aggarwal, MBA, RedChip Research Analyst, wrote in the report:
"IMGG, in our view, is set for robust growth. The Company continues to strive to build on its current manufacturing facility for C-arms and the Dominion Vi Scanner, which would improve its core competency to drive organic growth. After the Company receives full FDA approval for the Dominion Vi Scanner, as we expect it will in 4Q08, we are confident IMGG will start reporting positive EPS in 1Q09. In our opinion, these improved financial results will serve to validate the commercial viability and market potential of the Company's breakthrough imaging technology.
"We believe the performance of the IMGG's stock price has completely overlooked the recent positive developments for the Company. The Company received FDA approval to distribute the Dominion Vi Scanner for investigational purposes and won a 2008 North American Medical Imaging Product Innovation of the Year Award. These developments validate the commercial feasibility of IMGG's breakthrough technology. However, the Company's overdependence on the success of the Dominion Vi Scanner is still a concern," Aggarwal continued.
"We maintain our 'Speculative Buy' recommendation and 12-month target price of $1.01," he concluded.
To receive a complimentary copy of the RedChip Visibility 4Q 2007 Research Report for IMGG, please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=107&from=05152008pr
For more information about IMGG, including the RedChip Research reports, visit: http://www.redchip.com/visibility/investor.asp?symbol=IMGG
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Maitland, Florida; Bangalore, India; and Beijing, with affiliates in New York and San Diego. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV(tm), and RedChip Real Radio(tm). To learn more about RedChip's products and services, please visit: http://www.redchip.com/visibility/productsandservices.asp
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Disclosure
None of the profiles issued by RedChip Companies, Inc., constitute a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. Imaging3, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $32,400 for RedChip Visibility Program services, which included the preparation of this equity research report. To the fullest extent permissible under applicable law, RedChip Companies, Inc., will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.