Replies to post #77847 on MedGen Inc (MDIN)

[bikaver]

It has nothing to do with cash!!!

[king koopa]

that's not cash bud they counted the lactose intolerance patent as $1,520,000 under "intangible assets" based on fair market value during the time of the acquisition, which must have been $0.0038 a share (a value we would all love to see again....)

who knows what the true value of the patent is, hopefully eventually its much higher in value for MDIN once they can do something with it

[Jammin1]

Please read more carefully. Most of that is intangible assets. Intangible cannot be cash. Cash is a pretty tangible thing!

[integral]

No, the assets are $19,317. The intangibles and goodwill is just that, "intangible" and that is based on the Company over paying for a word document printed on a printer with a true value of $0.0125 cents. Since it cannot be valued, the paid value and the fair market value of nothing must be classified as "intangible" because right now, it does not exist. Until you can market, sell it, and capitalize the expense, it is "intangible". This is designed to stop fraudsters from peddling companies with fake assets.

A two year old can paint crap and Nick can buy it with stock for $1 Billion in paper. But that does not mean it is $1Billion. When he sells it for $0.000001 cents, then he can capitalize the two year old's art and classify the asset as cash, and try to classify the rest of the art at fair market value of $0.00001 each. Then he can take the loss on the cash flow and P&L.

SCAM!