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Microcap & Penny Stocks : IMDS nasdaq bulletin board -- Ignore unavailable to you. Want to Upgrade?

To: Dan O who wrote (3100)	4/4/1999 3:41:00 PM
From: Labrador	Read Replies (1) \| Respond to of 4122

>>>The Company President, Linda B. Grable stated that the company has secured $5.7 million through a private placement of preferred shares to institutional investors. The proceeds from the private placement will be used for the FDA process, the clinical trials and for the manufacturing of International orders.<<< What happened to the $5.7 million? I don't see it on the balance sheet. It must have been spent on operating expenses.