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By: AllPennyStocks.com
With the hope of prolonging and enriching life for many more years to come, the
science of health-care is changing and evolving, and the way in which doctors
efforts are brought to the attention of the public has changed as well.
So, it proved exciting news in the last week of January when Denver-based
Imagine Media, Ltd. (OTCBB: IMLE) announced the signing of a non-binding Letter
of Intent to acquire a local biotechnology company known as DMI Life Sciences,
Inc.
Under the terms of the LOI, if the acquisition is completed, the shareholders of
DMI will acquire approximately 90.52% of the total issued and outstanding shares
of IMLE, and the transaction will constitute a change in control. However lots
of strings are attached, and there is no guarantee that all conditions will be
accepted, but the deal is out there on the table.
DMI is commercializing a patent portfolio covering over 150 drug compounds
discovered by its Chief Scientific Officer, David Bar-Or, MD. Dr. Bar-Or, who
has been engaged in the discovery and development of medical products for over
20 years, is currently the Director of Trauma Research at Swedish Medical Center
and St. Anthony's Hospital, both located in Denver. DMI’s three lead products
relate to diabetic health care, inflammatory disorders and aging.
Imagine Media, Ltd. focuses on publishing magazines utilizing the Internet as a
distribution platform. The company operates as a subsidiary of New York-based
Imagine Holdings Corp., successfully spun off in the summer of 2007, as a new
holding company for the Company's historical operations, which consists of a 60%
equity interest in Imagine Operations, Inc. Imagine Operations, Inc. publishes
and distributes Image Magazine, a monthly guide and entertainment source for
Coloradans.
For now, IMLE’s stock peaked for the last 52 weeks at 85 cents a share the day
before the announcement of the proposed takeover of DMI, after wallowing in a
52-week low of 10 cents early last April, while much of the market was
experiencing multi-year lows and scrambling to find its footing. The deal – if
it goes through – will go a long way toward adding value to both companies, and
potentially to the portfolios of small-cap investors anxious to watch a
fledgling media grow.
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