Could this be a clue regarding a coming BIG change and BIG turn around for MDGC ----- "MediaG3’s current CEO, Val Westergard, ...?"
That press release is abysmally written and does not appear to have been authored by Val Westergard, who usually quotes himself in a PR rather than making a comment about himself as the most recent one did. Val Westergard may not be a competent CEO, but his writing skills are far superior to whoever penned Monday's PR.
The use of the adjective "current" in referring to Westergard as CEO is likely because the paragraph above it refers to the "former CEO." The PR announced information that was contained in a financial report issued 20 days earlier (June 5, 2012) so was already well known to investors. It is so poorly written, it's hard to understand the purpose or to decipher what is meant by any of it. Such incoherent press releases do not reflect well on a company.
MediaG3 Announces Current Financials with Reduction on Liabilities of $1.9 Million PR Newswire
BOISE, Idaho, June 25, 2012
BOISE, Idaho, June 25, 2012 /PRNewswire/ -- MediaG3, Inc., (OTCPK: MDGC), a provider of wireless broadband Internet solutions today announced the company has settled the 1.9 million dollar law suit with the former CEO of MediaG3. With this settlement completed, MediaG3, Inc. will now focus on expanding opportunities to provide their hybrid network system solutions for wireless broadband Internet, telecommunications, infrastructure, mesh and backhaul networks.
MediaG3's current CEO, Val Westergard, is pleased the attorneys were able to complete this settlement agreement which is reflected on 1st Quarter 2012 Current Financials reducing our Liabilities by over 52%. With this large percent of the liabilities removed, MediaG3 will pursue opportunities to integrate and deploy their hybrid networks and technologies which will add revenues, attract strategic partners and open doors to provide Internet service and solutions to business, government, healthcare, industry, education, telecommunications and other companies who have been bottled necked by lack of bandwidth, availability or who need an additional level of network reliability and redundancy. MediaG3's networks offer direct access as well as high-speed point-to-point and point to multi-point wireless links at speeds from 50Mbps to 1Gbps.
MediaG3's network solutions can move much larger amounts of data through multiple spectrums and work great as a primary or complimentary solution for cities, urban and rural areas as well as for small business, enterprise, neighborhood, community, metropolitan, campus, public areas. MediaG3's networks may just be the missing link in next generation wireless broadband technology.
About MediaG3, Inc.
MediaG3, Inc. designs, develops and deploys wireless broadband Internet products, services and solutions for today's fixed and mobile customers. MediaG3's products and services are specifically designed to enable cost effective solutions for wireless communications and content delivery to targeted customers, provide complimentary off-load capabilities for other wireless providers and wireless broadband to those lacking in infrastructure, speed or throughput. MediaG3's near term business growth plan is focused on developing and building small cell or micro cell networks and network models to generate revenue via subscribers. Business plan and specific details about our micro cell networks will be forthcoming on our website. MediaG3, Inc., a Delaware corporation, is headquartered in Boise Idaho. For more information, or to register to receive updates, please visit their corporate site www.mediag3.com/news.php.
Safe Harbor Act:
This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements.
Investor Relations:MediaG3, Inc.Email: info@mediag3.comPhone: 208-321-4188 x 2
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