MediaG3 (MDGC)

[Cassandra]

Is Val Westergard asking the SEC and/or the DTCC to take action on MDGC with his repeated releasing of false and misleading financial and disclosure statements?

http://www.otcmarkets.com/financialReportViewer?symbol=MDGC&id=71948

Not one dime of booked revenue is shown as collected -- it is ALL booked to Accounts Receivable despite $475,000 of the $477,200 booked and supposedly earned in Q1. In Q3, $2,200 is shown as revenue with zero cost of goods sold. Items sold in the online store require payment up front, so the revenue is not from the e-store. The $475,000 revenue from Q1 has never been specified and is likely a bogus sale to Mesh Global IMO.

The current and non-current assets are massively overstated, especially the $10 million in media credits that were purchased in June and August of 2010 that are still listed as "current" assets. As always the notes are based on the business model before the merger with Imperial Wireless and refer to issues regarding Little Sheep and Oriental Media. The notes are not properly descriptive of the current business and don't explain the numbers booked.

148,00,000 shares were issued for $51,000 in cash and they are shown as unrestricted shares. The A/S is almost topped out so will need to be raised in order to have shares available for CCOP to buy in fulfilling the Wytec asset purchase.

The disclosures are supposed to include material subsequent events but don't. The judgment in the Friedman lawsuit should be mentioned and that MDGC is appealing. The share structure should also be updated as of today, not just to 9/30/2011.

As usual, there are many irregularities in the financials and disclosures that create a substantial risk of regulatory and/or DTCC action. IMO, it's only a matter of time before something happens.