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there is alot of stock out and alot more comming! check this out and use your best judgement - from form SB2 filed 9/06 --------- Risks Relating To Our Current Financing Arrangement
There are a large number of shares underlying our callable secured convertible notes and warrants that may be available for future sale and the sale of these shares may depress the market price of our common stock.
As of August 7th, 2006, we had 167,838,727 shares of common stock issued and outstanding and callable secured convertible notes outstanding that may be converted into an estimated 67,678,239 shares of common stock at current market prices, and outstanding warrants to purchase 33,240,000 shares of our common stock. Additionally, we have an obligation to sell callable secured convertible notes that may be converted into an estimated 135,000,000 shares of common stock at current market prices. In addition, the number of shares of common stock issuable upon conversion of the outstanding callable secured convertible notes may increase if the market price of our stock declines. All of the shares, including all of the shares issuable upon conversion of the notes and upon exercise of our warrants, may be sold without restriction. The sale of these shares may adversely affect the market price of our common stock.
The continuously adjustable conversion price feature of our callable secured convertible notes could require us to issue a substantially greater number of shares, which will cause dilution to our existing stockholders, because our obligation to issue shares upon conversion of our callable secured convertible notes is essentially limitless.
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state of incorp. NEVADA year of incorp. 1996 fiscal yr. end 09-30 industry drugs SIC no. 2834 web focus? yes locations 1 employees 7 # share holders 3272 common par $.001 authorized 2,500,000,000 outstand'g 272,511,265 public float 263,469,264
MARKET MAKERS as of GVRC MAXM NITE SCHB
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The past year has been one of trials and launches, not the least of which has been the complete changeover from retail orientation to that of a Direct To Consumer orientation.
We have launched four new websites, created a line of communication (****) and just about put the finishing touches on our Affiliate Program . We have produced and aired two new commercials for our newest product, UNDIET® and have completed the testing stage. The last of our print advertising test programs that ran in Red Book and Woman's Day is now running in Newsweek (2 issues). As a result of all this activity we have gathered enough information to tell us and our investment group that we do have a real excellent opportunity with UNDIET® and that there is a significant demand for an all liquid, easy to use diet system. As a result, we have signed with a leader in DRTV, Intellivision, Inc. to produce two commercials that will air in late January/early February. This period is commonly known as “diet season”. While this commercial is being produced we will also fine-tune the taste, which seems to have a bitter aftertaste due to the natural herbs. We want to keep the product “all natural” so that we can easily ship Internationally.
To many Shareholders, all these programs have been criticized as taking to long and costing too much; of course, the stock has suffered as a result. My answer is that our products must meet certain government standards that relate to all phases of our business, marketing, quality and claims. Addressing all these issues take patience and money, the absence of either would doom our company. While I am certainly mindful of dilution and our decline in value, I have reconciled the short-term affects against the long-term gain. I believe the long-term gain is real and certainly attainable. As an indication of this belief management has elected to continue working for extreme low salaries through 2007.
Fortunately we have investors who strongly believe in our products and our management. As a result, we will have the capital necessary to build a strong presence in our $100 billion market place. Over the years I have learned that there are few shortcuts available to those who attempt to build a strong and lasting business. The “long” road is the only [right] road.
I am looking forward to putting the [re] building phase behind us and to building significant revenues. As reported, November showed real promise as a result of the flurry of commercial tests. We now know it is worth the significant investment to move forward with Intellivision who has elected to take much of their cost at the back end in the form of a 1% Royalty. Their risk matches our belief in the marketability of UNDIET®.
Happy Holiday and a prosperous New Year.
Paul B. Kravitz
Chairman/CEO
Jan. 9, 2006 | Feb. 14, 2006 | Mar. 15 | Apr. 10 | Apr. 22 | Jun. 1 | Jul. 5 | Jul. 21 | Aug. 10 | Oct. 13 | Oct. 20 | Nov. 12 This communication contains and 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 statements and/or 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.
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BOCA RATON, Fla., Jan 02, 2007 (BUSINESS WIRE) -- Med Gen Inc. (MGEN, Trade ), manufacturers of nationally branded OTC healthier life products, announced that it has received overwhelming approval from the PGA Tour Partners Club for its Painenz(R) roll on pain relief product.
Painenz(R) was scrutinized and used by over 350 PGA Tour members for its overall effectiveness in treating pain due to arthritis, muscle strain and general aches due to sports or other activities. The approval rating was better than 67% and the member rating was 6.9. Painenz(R) was also tested and approved by the Health and Wellness Club, also with excellent results. The December issue of Today's Health & Wellness magazine has published these excellent results for their readership.
Paul Mitchell, Med Gen's President in reporting these results indicated that he was going to use the results of these tests in current promotions. "Painenz(R) is an excellent product for the relief of pain. It is easy to use, not messy and odorless...Best of all, it works and works fast," he said. Med Gen sells this and its other products on its www.medgen.com Online Store.
About Med Gen Inc.
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 Un-Diet(TM) 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 such as its roll-on pain relief formula, Painenz(R). 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.
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
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