MedGen Inc (MDIN)

[BSWB]

One Hundred Thirty Three years ago, Robert Service wrote a piece called the Quitter. It’s a wonderfully emotional poem very much in my mind as I ponder the reaction of some to our recently filed 10Q. The last paragraph is quoted:

It’s easy to cry that you’re beaten- and die;
It’s easy to crawfish and crawl;
But to fight and to fight when hope’s out of sight
Why that’s the best game of them all!
And though you come out of each grueling bout,
All broken and battered and scarred,
Just have one more try- it’s dead easy to die,
It’s the keeping-on-living that’s hard.

As you know, and as I have broadcast ad nauseoum. The plan that will result ( not may) in a successful company needs time and money to execute.
As the poem suggests,throwing the towel in would have been an easy way out, but we chose not to;opting instead to take our great products direct to the customer.
In the trueAmerican fashion, we tried innovative ways to increase our revenue, while at the same time reduce our dependence on borrowing and the resulting dilution.

Shareholder dissatisfaction with the continuing dilution without an increase in revenue rose to a deafening crescendo. Thus was born our “service business”. Offering years of “know-how” in exchange for product and fee.


At the time, none of us knew if we could be successful … but it was certainly worth the try. Guess what? We have become enormously successful…the increase in revenue, month to month, speaks to the success of the program. It also has reduced our dependence upon borrowed money and it has brought relief to you, our shareholders, from dilution. So now you are wondering why? Perhaps you should be thinking, what if they didn’t?

Our products are being aired, tested and tweaked everyday. They will eventually take off. In the meanwhile, we have added “FootFridge” and several other products to our line… And, there are enormous possibilities, J.V’s, Mergers and Acquisitions; opportunities that can enrich everyone. In the last few months we have operated with positive cash flow… this is a trend that we believe can continue.

So what’s all the hullabaloo about? What is it that we haven’t done? Is it like the poem above, should we just die?

No! I think I’ll just draw on my grit; it’s too easy to quit. It’s the keeping-your chin-up that’s hard.

Your Chairman,

Paul B. Kravitz

http://www.medgen.com