July 26, 2007 - 7:03 AM EST
Med Gen Revenue Reaches 3 Year High
Med Gen Inc. (OTCBB:MGEN) (“MGEN”), manufacturers of nationally branded OTC healthier life products and financial services, reports unaudited revenue as of July 21, 2007 of $1,650,000, an 850% gain over the previous year to date numbers. Monthly, unaudited revenue as of July 21, 2007 was $252,658, a 3000% increase when compared to same month year ago comparisons.
In answer to Shareholder concerns about the declining stock price, Mr. Kravitz, Chairman & CEO discussed the dilution effect of note/debt conversion to shares by its lender. “Yet,” he said, “the conversions by itself should not effect the stock so dramatically since the estimated actual market value of the company should be nearer to $0.02 per share and thus very much undervalued. A review of peer companies in similar businesses can support an even higher valuation.”
“The solution to the declining stock price is threefold,” Mr. Kravitz said. “First, we must attract new investors/buyers to counter the selling. Second, we must pay off or pay down the debt and lastly we must increase revenues. In repeated letters and releases we have indicated that we are acting on all three of these issues and will continue to do so. Most importantly, the company has had four positive operating months in a row and expects to continue to report growth in revenues when it files its quarterly report before August 15th. These positive signs do not indicate a company in decline
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