Navigation Links
Med Gen Inks Multi-Million Dollar Funding Deal
Date:3/17/2010

HOLBROOK, N.Y., March 17 /PRNewswire-FirstCall/ -- Med Gen Inc. (Pink Sheets: MDIN) today announced that it has signed a deal with the N.I.R. Group, LLC to fund the new direction of the company and its operations by providing up to $1.25 million dollars. The funding terms outline an immediate cash infusion of $100,000 in two separate payments of $50,000 and an additional $1.25 million dollar line of credit which the company can draw upon monthly. The credit line is in the form of convertible debentures and will allow the company to invest in marketing and advertising campaigns as well as additional personnel and infrastructure expansion.

"I hope this demonstrates to investors that we are serious about building a solid national business brokerage company that will lead the market in this very lucrative industry," said Raymond Barton, Med Gen's CEO. "This will allow us to dominate the fractionalized business broker industry and emerge as a clear leader in today's favorable economic climate for business brokering."

Details of the funding agreement will be filed with the SEC in an 8K currently being prepared.  The company is also working on preparing information necessary for their audited financials which will provide a clearer picture of Med Gen's financial position as their filings are brought up to date. "It is our intention to continue as a fully reporting company and we are dedicated to building a solid foundation for our shareholders," added Med Gen's CFO, Timothy Schmidt.

Med Gen Inc. went public in 1997 and distributed health related products.  Business wound down in 2008 but was recently revived earlier this year through its wholly owned subsidiary, NorthStar Business and Property Brokers, Inc., a private company engaged primarily in business brokering.

SEC rules prohibit the disclosure of certain information to individuals, so investors are encouraged to review company filings and to watch for future press releases. Med Gen would like to assure its shareholders that further information and exciting news is imminent.

SOURCE Med Gen Inc.

Back to top
'/>"/>
SOURCE Med Gen Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Lions Eye Institute for Transplant & Research, Inc. Launches Multi-Million Dollar, State-of-the-Art Research Institute that Will Advance the Study of Blinding Eye Diseases
2. Suneva Medical Signs Multi-Million Dollar Line of Credit Agreement with Western Technology Investment
3. NYC Department of Healths Get Some NYC Condoms Sends Wrong Message and Misuses Tax Dollars, says MIM President Bob Peters
4. ActiViews Raised $5M Dollars, in a Round led by 7 Health
5. Is Poor Medical Equipment Planning Costing your Healthcare Project Wasted Dollars and Delays? ECRI Institute outlines best practices to ensure better outcomes
6. Wound Management Technologies, Inc. Targets Multi-Billion Dollar Biomaterials Market; Releases Update on Resorbable Orthopedics
7. Palatin Technologies, Inc. To Raise $2.6 Million Dollars in Registered Direct Offering
8. Federal Funding Awarded to Test Antimicrobial Properties of Copper Metals
9. Prostate Cancer Treatment Centre Receives Funding for Clinical Trials
10. U.S. Department of Health and Human Services Completes Funding of 2006 Contract Award to CSCs DVC and Baxter
11. amfAR Announces Funding for HIV Services and Research Aimed at Men Who Have Sex With Men in Developing Countries
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... Calif. , Feb. 23, 2017 ... leading the discovery and development of innovative medicines targeting ... full year 2016 financial results on Thursday, March 2, ... host a conference call and webcast on March 2, ... quarter and full year 2016 financial results and provide ...
(Date:2/23/2017)... 23, 2017 The fast-growing cannabis market ... United States . According to the 2017 Legal Marijuana ... expected to create 283,422 jobs by 2020, with an implied ... next four years. The accelerating pace of cannabis legalization is ... legal cannabis market, which will further create more business ventures ...
(Date:2/23/2017)... South Korea , Feb. 23, 2017 LG Innotek ... UV-C LED for sterilization applications. As its sterilization performance is 1.5 ... produces the short wavelength ultraviolet rays in the range of 200 -- ... the proliferation of bacteria by destroying their DNA. LG Innotek,s product ... ...
Breaking Medicine Technology:
(Date:2/23/2017)... ... February 23, 2017 , ... Rare Disease Report®, ... be participating in Rare Disease Day events, hosted by the Rare Disease Legislative ... Report, a website, weekly e-newsletter and quarterly publication, will be conducting interviews with ...
(Date:2/23/2017)... ... February 23, 2017 , ... ... provider for the National Institute for Health and Care Excellence (NICE) ... in the National Health Service (NHS) to search, order and purchase medical and ...
(Date:2/23/2017)... ... February 23, 2017 , ... ... it will soon begin franchising throughout the U.S. starting this spring. Current Meditation ... the practice of meditation mainstream. Current Meditation will be the first meditation concept ...
(Date:2/23/2017)... ... ... Top cosmetic and periodontal dentist Dr. Mahnaz Rashti announced the ... campaign . Individuals are now able to contribute to the local initiative, which provides ... participating patient or through an Indiegogo donation. The entirety of proceeds will go toward ...
(Date:2/22/2017)... York (PRWEB) , ... February 22, 2017 , ... ... entrance and lobby of a new healthcare contact center in Georgia, PENETRON Specialty ... One of the nation’s largest healthcare systems recently invested $51 million to purchase ...
Breaking Medicine News(10 mins):