MedGen Inc (MDIN)

[Highlandmike]

From the recent CEO letter:

III. Financials
Our net profits are increasing…. what are we going to do with them?
-Improvement of our balance sheet & highly decreasing/eliminating debt positions
-Massive improvements in our share structure
-Audited Financials
-Listing on a more reputable exchange

I. Improvement of our balance sheet & highly decreasing/eliminating debt positions
We currently hold far too much debt on our balance sheet. This is not only unattractive to potential shareholders but also is a worry for management. We have cut our expenses down as low as possible and will continue to run our company as ‘lean’ as we can in order to allocate as great of a percentage of net profits as we can towards the elimination of the debt we hold. We do not currently foresee the need continue to finance through debt issuances and hope to avoid this as much as possible within the future. Also should the need for financing arise, it will be short term and we’ll avoid convertible debt as much as possible.

II. Massive improvements in our share structure
Anther concern is the decrease in common shares currently issued. With our increase in profits we hope to announce a share buyback. By decreasing this figure, we’re a much healthier and appealing company. This should also immediately placate anyone with concerns over a rumored reverse split. This is the complete opposite of what we’re trying to accomplish and will only leave us in a worse position. We have zero intension of a reverse split in the near future.

I particularly like that last line.

Go CEO! MDIN