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Med Gen Pays off $1.44 Million in Debt 8:00 AM ET - BusinessWire
Med Gen Inc. (OTCBB:MGEN) ("MGEN"), manufacturers of nationally branded OTC healthier life products and specialty financial services files Form 8K which indicates a pay down of 21% on its $6 million debt.
"The company intends to further reduce its debt with revenue from its new marketing promotions which are scheduled starting in mid August thru November," said Paul Kravitz, Med Gen Chairman/CEO. "Our Shareholders are asking for a boost in share price and, if possible, we intend to give it to them."
Med Gen Inc., in business since 1996, manufactures and markets specialty products using its proprietary delivery system Spray's the Way ("STW"). It is best known for producing the world's first patented liquid spray snoring relief formula, Snorenz(R). Since its existence, Med Gen has continued to develop its STW technology, introducing Good Nights Sleep(R) and the UnDiet(R) system into its family of brands. While STW technology is mainly used, the company also produces other products that deal with common health issues using other delivery systems. Recently, the company formed a joint venture to market FootFridge(R), an innovative and patented innersole, that amongst other attributes, cools and comforts the feet. The company markets its products to distributors, major chain and drug stores, direct sales via the company web site and direct to consumer television, radio and print advertising. The company also distributes its brands internationally under various private labels or existing names. The Company, through its Financial Services Division, offers specialty services to small emerging public companies.
Med Gen Inc. is a fully reporting company whose stock trades on the OTCBB under the symbol "MGEN". For information contact Investor Relations 561-750-1100 or www.medgen.com
This Press Release contains or incorporates by reference "forward looking statements" including certain information with respect to plans and strategies of Med Gen Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes", "suggests", "anticipates", "plans", "expects", and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of Med Gen operations that could differ materially from those indicated by such forward looking statements.
SOURCE: Med Gen Inc.
Med Gen Inc., Boca Raton Paul Kravitz, 561-750-1100 www.medgen.com Recent MGEN Headlines August 10, 2007 8:00AMMed Gen Pays off $1.44 Million in Debt 5:24AMMed Gen Inc announces June quarter results
August 9, 2007 8:00AMMed Gen Reports on June Quarter
August 6, 2007 11:52AMMed Gen Announces New Marketing Programs
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Med Gen Inc announces June quarter results 5:24 AM ET - M2
Med Gen Inc (OTCBB:MGEN), a manufacturer of nationally branded OTC healthier life products and financial services, declared on 9 August its third quarterly results.
The company reported that sales increased over 2,000% to USD739,129 in the quarter as compared to the corresponding quarter of 2006. For the nine month period sales increased 692% to USD1.417m.
The company reported a gross profit of USD625,691 for the June quarter and USD1.138m for the nine months.
Net losses for the quarter were USD2.987m and USD5.667m for the nine months.
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I bought kinda high, waiting for it to recover. Should have bought at 0.0004 or 0.0005. I think the stock will improve... like you said lostone, definatelly something to keep an eye on.
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