Re: The lactose supplement.
First of all, Ken Manzo is a pharmacist at the infamous Aliton's Pharmacy, and he is one of the inventors of the engineered bacteria being used in MedGen's lactose supplement. This explains why Aliton's Pharmacy was the first (only?) "mom & pop" store Snorenz was ever sold (or at least photographed) in.
Ken Manzo is currently developing his own lactose product called Lactose-Freedom that appears to be nearly identical to MedGen's.
Ken is currently trying to raise funds for his product on a Kickstarter-like website called MedStartr (I'm not allowed to post links, or I would). Google ken manzo lactose-freedom, and it's the first result. You'll want to read the next two results too. He also has his own website, manzopharma dot com.
Since MedGen "closed a deal with the owners, and inventors" a year ago, why is Ken having to resort to raising money for his own product on a crowd-funding website instead of partnering with MedGen? They're developing identical products, and who better to partner with than the inventor?
According to the 5/29/13 press release, MedGen "has closed a deal with the owners, and inventors of one of the most exciting health related patented processes in the US today. The product, developed in partnership with Celprogen, Inc. by it's co-inventor, pharmacist Kenneth Manzo..."
It sounds like Ken Manzo is the person Nick gave a half billion shares to. Is he our partner, or isn't he?
What sort of sh*tty deal did MedGen close with Celprogen and Manzo that allows Manzo to manufacture his own competing product? This of course would be a huge detriment to MedGen's potential sales, and (another) big disappointment to investors.
According to a Times Herald-Record newspaper story dated 1/27/14, "Manzo hasn't tested the supplement on people yet. That's about a year or so out. First, he has to continue tests on lactose-intolerant lab rats."
Since Nick is using the same bacteria in his supplement, it's reasonable to think that he would also undergo testing on rats before beginning human trials. This is something Nick has never mentioned, and would further delay the launch of the lactose product we expected to be available in 1Q 2014.
Furthermore, the press release says "in order to avoid dilution or a shortfall of capital needed to fund inventory, a deal was struck using restricted shares with lock up periods in addition to a year as to avoid damage to the tight share structure the company has worked so hard to create."
Lock up periods in addition to a year? That sentence is poorly written and ambiguous. Should that read at least a year? Or in excess of a year? It's possible the lockup period has either already expired or will next month, so you know where the PPS is headed if dumping of those shares begins.
Yeah, yeah, I know people will say it would be crazy to sell now instead of waiting for the PPS to go up substantially (and I agree), but crazier things have happened. Remember - they have 500 million shares to play with, they don't need to sell them all. If they sold 100 million at .002, they'd receive $200,000. Then they could kick back and wait for the rest to make them rich in a couple years (or more at the current pace).
It's quite possible my research is erroneous and there is a reasonable explanation, but it's alarming if "our" partner is developing a product to go head-to-head with MedGen's.
Perhaps someone closer to Nick could get some answers, but I was unsuccessful.
Reference: Patent date 8-7-2012. US Patent 8,236,297 B2 - Method of Treating Lactose Intolerance Utilizing Genetically Engineered Bacteria.
