Imagine Media Ltd. (IMLE) shares skyrocket after buying anti-DUI tech company

Posted on: Wednesday, April 27th, 2011
Written by:

Imagine Media Ltd. (OTCBB: IMLE), a Delaware corporation, climbed 35 cents, or 140%, Wednesday morning to 60 cents, after announcing that it has signed a non-binding Letter of Intent (“LOI”) to acquire TransBioTec Corporation. Volume for the stock was 86,000 shares by noon ET.

TransBioTec, with headquarters in Seal Beach, California, has developed and patented, a high technology, state-of-the-art transdermal sensor, that detects blood alcohol levels through a person’s skin. Ethanol is produced as alcohol is ingested and metabolized in the body. The system senses ethanol excreted through a person’s sweat.

A person places their finger on the sensor, and within five to eight seconds, the sensor will detect the ethanol level. A signal can then be sent to output devices that control the ignition in a vehicle to prevent it from starting.

The TransBioTec system touted as unobtrusive, accurate, reliable, durable, low-cost, easier to use, and faster than the current breathalyzer applications.

Imagine President Greg Bloom, commented, “We are extremely excited about the possibility of acquiring TBT, and bringing its significant opportunities to our shareholders, as well as helping to introduce this innovative technology that will save countless lives.”

Charles Bennington, Cheif Executive Officer of TBT also commented, “We are truly excited to be able to deliver a first-to-market technology that many companies have been attempting to design to address the growing drunk driving issues that claim so many lives and cause so much property damage every year.”

Tags: , , , , ,
Category: OTCBB, Penny Stocks, Technology Stocks
no comments
You can leave a response, or trackback from your own site.

Leave a Reply

Your email address will not be published. Required fields are marked *

About Penny Stocks

The term "penny stocks," also known as micro-cap equities, micro caps, small caps, pink sheets, refers to shares in a company that trades for less than $5.00. Most penny stocks trade on the OTCBB market and the pink sheet electronic quotation service. Penny Stocks can be very volatile and can see gains as much as 500% in a day. Volatility in penny stocks is also dangerous because penny stocks can come down as quickly as they go up. If you trade penny stocks based on stock picks, make sure to always do your due diligence on the companies you're considering, use stop loss orders, and book your profits when you are in a position to do so.