Image Technology Laboratories Inc. Announces Closing Of Offering.Business/Medical Editors KINGSTON, N.Y.--(BUSINESS WIRE)--Oct. 19, 2000 Image Technology Laboratories Inc. today closed it's offering of approximately 2,625,000 million units @. 40 per unit. Each Unit consists of one common share and one warrant to purchase one share of common stock for .50 cents. The company raised approximately $1,050,000 before expenses. All 2,625,000 units were sold through the company. The shares and warrants will be traded on the OTC bulletin board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbols ITLI, ITLIW, and ITLIZ. Image Technology Labs headquartered in Kingston, NY has designed a proprietary picture archiving and communication system In medical imaging, picture archiving and communication systems (PACS) are computers or networks dedicated to the storage, retrieval, distribution and presentation of images. The medical images are stored in an independent format. , or PACS (Picture ArChiving System) A storage and management system for high-resolution images. Typically pertaining to the medical field, images such as X-rays, MRIs and CAT scans require a greater amount of storage than other industries. . ITLPACS is used in the management of medical diagnostic images by hospitals and medical centers. The company has developed a unique display station, which allows radiologist radiologist /ra·di·ol·o·gist/ (ra?de-ol´ah-jist) a physician specializing in radiology. Radiologist to simultaneously view multiple digitized images. A separate touch screen monitor is used for controlling the image display. ITLPACS has been designed to run under the Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. . A radiologist can read and interpret the digitized diagnostic images from any computer to which they have been sent. Image Technology provides all support, including remote location systems, database administration and management services. The company is located at 167 Schwenk Drive, Kingston, NY, the phone number is 914-338-3366, fax 914-338-8880. The information contained in this press release, including any "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Registration Statement on Form SB-2 and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company. This press release shall not constitute an offer to see or the solicitation of an offer to buy nor shall there by any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities law of any such state. |
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