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 .
SOURCE IMD Companies, Inc.
