CURRENT BUSINESS INFORMATION: CDMI Productions, Inc. is a development stage company. It recently began leasing specialized equipment to the entertainment industry and intends to be a provider of sound stages and production facilities to the entertainment industry worldwide. In addition, the Company intends to develop and produce full-length motion pictures through autonomous entities. To date, the Company has not been able to obtain the funds required to produce a motion picture.
HISTORICAL BUSINESS INFORMATION: The Company was incorporated under the laws of the State of New York, on March 17, 1986, by its parent company, Repro-Med Systems, Inc. for the purpose of acquiring, developing and marketing medical products for use in the treatment of impotence.
In September 1986, the Company acquired, by assignment from Repro-Med, Dr. Adrian Zorgniotti and Andrew Sealfon, all rights to an injectable drug combination treatment for male impotence and two related products: a drug intermixing delivery system and an implantable prosthesis for dispensing drugs. The assignment of these three products included rights to all related technology and products.
On May 27, 1987, the Company acquired the rights to certain gynecological products which it assigned to its Gyneco, Inc. subsidiary which immediately commenced manufacturing and marketing a line of gynecological products through US and foreign distributors, US hospitals and private physicians.
In July 1993 the Company acquired the rights to an Oral Treatment for Male Impotence which was subsequently sold to a biotechnology company, Zonagen, Inc. In September 1997, Gamogen received final payment of $558,000 from the sale. This payment represented the discounted sales price of $708,000 less $150,000 of Option Maintenance payments Registrant had previously received from Zonagen, Inc.
In October 1998, the Company, in an effort to improve its revenues and cash flow from operations, entered into a joint venture with its then affiliate, Repro-Med Systems, Inc., to develop and market a new vacuum, impotence treatment device named Restore, believing that there remained a market for more conventional impotency treatments, like Restore, after the introduction in early 1998 of Viagra, which initially accounted for 95% of new prescriptions for the treatment of impotence. In this market, men, due to specific health reasons or for other problems which Viagra is ineffective, continue to require traditional treatments using devices such as the Restore vacuum pump.
In April 1999 Repro-Med Systems received a letter from Timm Medical Technologies regarding possible patent conflicts between the Restore product and the Timms Erect-Aid Classic(tm) product. Repro-Med's review of the patents did not support this claim. Timm reportedly purchased the rights to the Erect-Aid Classic(tm) product in November 1998 from Imagyn Medical Technologies, formerly known as Urohealth. Imagyn reportedly had originally bought the rights to the Erect-Aid Classic(tm) from Osbon Medical Systems. Registrant's former affiliate, Repro-Med, has advised that it had an off-setting counter claim which had not been resolved, concerning an Osbon product called Esteem which Repro-Med had a commitment from Osbon to manufacture.
On December 19, 2001 the Company announced that a Letter of Intent was signed between CDMI Productions Inc. and Gamogen Inc. that provides for a merger between the two.
On September 13, 2002, the Company consummated an Agreement and Plan of Merger whereby it combined with CDMI Productions, Inc. a Delaware company which was organized on November 13, 2001. The transaction has been accounted for as a reverse acquisition for accounting purposes and the continuing business is that of CDMI - Delaware.
