MediaG3 (MDGC)

[Cassandra]

The annual report is just a continuation of the same bogus information Val Westergard has been including in his past financial reports.

Note that Val does not disclose the float in the filing. This is likely to hide the fact that he and other insiders have sold shares onto the public market, increasing the float.

After the CEO and former CFO of another company were charged with financial fraud for listing inflated media credits as an asset, he has removed the bogus media credits asset from the balance sheet and claims that the 20 million shares were returned. However the remaining assets continue to be massively inflated.

He has written off the bogus previous revenue as bad debt but still shows it as revenue.

All of the information about China and the Philippines predates the merger with Imperial Wireless and should not be included in this report, especially since Val makes it appear to be current business.

Most significantly, I can't find any disclosure or financial adjustments regarding the sale of the patents that happened in November 2011.

IMO, Val Westergard continues to commit fraud in this filing. No one should rely on it for an investment decision.