August 23, 2010
Diagnostic Imaging International Corp.
Second Quarter Results 2010
Las Vegas, NV - August 23, 2010 - Diagnostic Imaging International Corp. (OTCBB: DIIG) ("DIIG"), owns and operates CTS, a Teleradiology company, announced today its financial results for the three- months ended June 30, 2010. All currency amounts are in U.S. dollars.
Net loss for the three months ended June 30 was $139,889, or $0.01 per share, on revenues of $733,526, compared to a net loss of $487,293, or $0.03 per share, on revenues of $426,252 in the same period a year ago. The loss was due mainly as a result of non-cash amortizations and legal expenses. With the non-cash items removed the Company had a net loss for the three months ended June 30 of $4,974.
Net Loss for the six months ended June 30 was $313,032, or $0.02 per share, on revenues of $1,397,263, compared to a net loss of $666,836, or $0.05 per share, on revenues of $520,691 in the same period a year ago. The loss was due mainly as a result of non-cash amortizations and legal expenses. With the non-cash items removed the Company had a profit for the six months ended June 30 of $10,251.
During the quarter DIIG raised $116,890 through the sale of convertible notes. The Company’s CTS subsidiary became cash flow positive in the first quarter.
In June, CTS added a new client hospital. During the month, preparation and set-up began for service to commence July 1st. Revenues for the contract will start to be realized in the third quarter. The hospital intends on sending primarily CT scans for reading which is a high paying modality. In addition, the hospital is considering expanding its elective Ultrasound and CT departments to better service its community and to take full advantage of CTS.
"The second quarter saw a revenue increase of over 70% from the prior year," said Mr. Mitchell Geisler, Diagnostic Imaging’s Chief Executive Officer. "We continue to increase quarterly growth for CTS and to aggressively grow the company."
To find out more about Diagnostic Imaging International Corp. (OTCBB: DIIG), visit our website at diig.biz. Or contact the Company directly at (877) 331-3444.
Diagnostic Imaging International Corp., ("DIIG") owns and operates CTS, a Teleradiology company. Teleradiology is the process of assessing and reporting radiological patient images, such as x-rays, CTs, and MRIs, from one location to another for the purposes of interpretation and/or consultation. CTS provides remote radiology (teleradiology) to hospitals and practices, on-call 24 hours a day, 7 days a week. DIIG is planning to acquire diagnostic imaging clinics including MRI clinics, Computed Tomography scan equipment, and to evaluate future opportunities for Positron Emission Tomography clinics.
This news release includes forward-looking statements that reflect Diagnostic Imaging International Corp.'s current expectations about its future results, performance, prospects and opportunities. Diagnostic Imaging International Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to Diagnostic Imaging International Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2010 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.