MediaG3 (MDGC)

[colemano]

This is also false and misleading:

How much did they pay out in salary for 2011? This is the greatest mystery. Q3 reported $1,656,906 in wages and now it has disappeared! So has the $1,656,906 in 2010!

This item is left over from the Yuan era and is part and parcel of the settlement. Since only 12MM shares are available as you claim and the AS was not raised, I'd say Yuan did not get much, unless of course, MDGC made some significant cash during Q1.

In January 2012, we negotiated a settlement with our former President for the amounts owed to him in Note 10, as
well as accrued wages.

10. RELATED PARTY TRANSACTIONS
As of December 31, 2011 and 2010, the Company and its subsidiaries owed $124,125 and $101,969, respectively, to
shareholders of the Company. Of these amounts, $94,558 was a loan from William Yuan, founder and Chief
Executive Officer of the Company, in 2006, and bears interest at the rate of 8% per annum. During the year ended
December 31, 2011, we were advanced $27,580 from our current President and is due and payable on demand and is
non-interest bearing.