Imaging3, Inc. (OTC:IMGG) has been climbing up progressively over the past few days. Last Friday, the stock closed the week 
with a 14.58% price jump, while trading over 4 million shares for the day. Though, the reason for the gain seems hard to be explained.
The only reason for the up trend could be the latest news by Imaging3. Last week, the company reported they have entered into a Securities Purchase Agreement with certain lenders, pursuant to which IMGG will receive a loan of 1 million evidenced by Senior Secured Notes due October, 2012. The Notes are convertible into shares of the company’s common stock and Imaging3 has the right to extend their maturity date to April, 2013.
Apparently, the loan announcement has encouraged traders to invest in IMGG, though it is not certain how long the current up move will resist.[BANNER]
Imaging3, Inc. produces medical equipment and services. Apart from the agreement news, nothing else was reported on the company these days. On Oct 4, IMGG announced that their protocol proposal has been reviewed by the FDA. Though, no further information on the approval came up after that.
Meanwhile, the latest 10-Q report of Imaging3 looks completely discouraging. As of June 30, the company has registered:
* $368,089 current assets
* $7,197,323 current liabilities
* $216,210 revenues
* ($2,434,033) net loss
* ($6,781,480) stockholders’ deficit
Having in mind these numbers, plus the total accumulated deficit of $19 million, Imaging3 definitely needs the loan agreement it has entered into. The only questions is once it’s taken, how the company will recover it.
