MediaG3 (MDGC)

[CharlesNet]

Imperial Wirless aka MediaG3 was a re-seller of Clearwire in that area. The way I understand it, previous MediaG3 management created riffs in the relationship between Clearwire and MediaG3. MediaG3 and Clearwire no longer have that relationship.

Much of this is why Val and the MediaG3 Board decided to Oust prior MediaG3 CEO/Mgmt and that is when Val took over.

Val had put his heart and soul into building Imperial Wireless only to see that, since the merger with MediaG3, the company was headed the wrong way fast. In an effort to get things back on track, Val took over. Took the company into the R&D phase and basically stopped generating revenue in January of 2010.

There was a lot of money coming into the company prior to that but it was being expensed away by previous management leaving MediaG3 with nothing to show for it other than high expenses and expensive perks for the CEO.