MedGen Inc (MDIN)

[Jammin1]

All very good points.

If you read back through past years' quarterlies, you'll see that they moved to that office space many years ago, and used it during the 3+ years when they were just a consulting company, before they resumed the retail business. I believe the purpose was to be near NYC, while still having as low a cost place as possible which would make them "official".

Given the low revenues, I doubt they have more than 1 or 2 actual employees other than Nick, if they have any at all. Production is outsourced. The business is mostly based on Nick driving around and calling to get production and distribution deals. The minimal website work was also outsourced, and certainly not some employee sitting in their office.

My guess is that they might have some 1 person working part time to help deal with admin, paperwork, scheduling, emails and such, and the rest is all Nick, and the chance of you seeing anyone in the office during normal working hours would be < 50%. Nick can probably do a lot of his phone calls and email out of his home, wherever that is.

I would guess that as revenues rise and they get consistent profits, you'd see them move to a more strategic location and hire more office help.