(PRWEB) January 17, 2002
FOR IMMEDIATE RELEASE
Date: January 14, 2002
Place: Boca Raton, Florida
Contact: Mr. Tom Heysek VP Investor Relations and Compliance (561) 750-1100 firstname.lastname@example.org
Med Gen to file First Quarter results showing 136% increase in Sales to $958,000
Trailing Twelve Months Sales: $2.8 million, an increase of 100% from 12/00
Paul S. Mitchell announced to investors that sales of SnorenzÂ® continues to grow in popularity at all levels. Mr. Mitchell added "Although SnorenzÂ® can now be found in approximately 25,000 retail stores nationwide, we expect to penetrate another 7,000 stores by our third fiscal quarter (June 2002)".
Paul B. Kravitz, Chairman and Chief Executive added that the Company is in the final stages of concluding an Investment Banking Agreement between a recognized Broker-Dealer and an Institutional Investor that will provide financial and stock market support to the Company. This will help the Company launch three new product lines and provide advertising to support and promote SnorenzÂ® and its new Brands, Comfort CareÂ (Magnets), 4in1Â (Topical Pain Relief) and GlucoFreeÂ (Diabetic Snore Relief Formula).
In an additional comment, Mr. Kravitz added that the management decision to offer stock in lieu of cash to compensate its officers, employees and consultants has proved sound, and has allowed the Company to use its cash to grow sales. In the future, as cash becomes less important, the Company will attempt to pay industry standard salaries to all employees. At this point, all management, employees and consultants have one singular interest, along with our shareholders and that is to increase shareholder value.
This Press Release contains or incorporates by reference Âforward looking statements" including certain information with respect to plans and strategies of Med Gen Inc. (ÂMedGenÂÂ). For this purpose, any statements contained herein or incorporated herein by reference that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words ÂbelievesÂ, ÂsuggestsÂ, ÂanticipatesÂ, ÂplansÂ, ÂexpectsÂ, and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of MedGenÂ operations that could differ materially from those indicated by such forward looking statements.
MedGenÂ is a publicly traded Company, OTCBB ÂMGNI.OBÂ.