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CEO's Letter to Shareholders of Imaging Diagnostic Systems, Inc.
Date:8/5/2008

w facility in Fort Lauderdale is 9,870 sq/ft and our total monthly rent including common area maintenance expenses and sales tax for the first year is $10,244.23 per month. This represents a 69% savings in office rent expense and we anticipate that our electric bill will be reduced proportionally. We have placed a temporary halt on new projects and all efforts are directed to the PMA filing and international sales.

In a press release dated December 27, 2007, IDSI announced the retirement of its CEO and Director, Tim Hansen. Subsequent to Mr. Hansen's retirement, we accepted the resignations of our three outside directors; Jay Bendis; Patrick Gorman; and Sherman Lazrus in accordance to a request initiated by our investment banker as a condition for additional funding.

As a co-founder of IDSI and its former Chairman of the Board and CEO, I fought to maintain and improve the Company's financing and sales initiatives. I immediately arranged a new Sixth Private Equity Credit Agreement for $15 million over a three-year period with Charlton Avenue LLC, who has provided substantially all of our necessary funding for the past eight years. Additionally, I began negotiating with other investment bankers and placement agents that could provide alternative financing. The management dynamics of the Company is changed. We have begun a more aggressive international sales and marketing program to appoint new distributors, terminate non-performing distributors and to offer introductory incentives to achieve sales. I traveled to China to visit our Representative Office and to interview our distributors to learn what support they need from the home office to sell CTLM(R) systems. I also visited our clinical reference site at Tianjin Cancer Hospital and was very pleased with the acceptance of our technology at this prestigious hospital. Our Senior Vice President just traveled to Italy to meet with our distributor and to visit end-users and our clinical collaboration site a
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SOURCE Imaging Diagnostic Systems, Inc.
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