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Prospector
Profile
117-08
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| Med Gen, Inc. |
NAICS |
325412 |
| 7284 W Palmetto Park Road
Boca Raton, FL 33433 |
Description |
Pharmaceuticals Mfg. |
| (561) 750-1100 |
Employees |
8 |
| http://www.medgen.com/home.php |
Revenue |
(mil) |
0.2700 |
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Income |
(mil) |
-7.9060 |
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Assets |
(mil) |
1.5710 |
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Liability |
(mil) |
22.0910 |
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(for the year ended 2007-09-30) |
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Category:
Default
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Event:
Med Gen, Inc. entered into a series of 12 Securities Purchase Agreements with four accredited investors for the sale of an aggregate of $7,190,000 of Callable Secured Convertible Notes and warrants to purchase up to 73,240,000 shares of its common stock. At September 30, 2007, the Convertible Notes are in default and the Company has recognized $13,821,320 in derivative instrument liability, which reflects the default premium payable if the Note Holders were to demand payment at that date.
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Intellectual Property:
The name "SNORenz®" is a registered trademark issued by the United States Patent and Trademark Office (Reg. No. 2,210,381 - 12/15/98). The Company also owns the trademark registration for the Good Nights Sleep product. The Company has registered SNORenz® in Korea and Snoraway® and Good Night's Sleep® in all countries participating in the EU as a Community Trademark. It has also registered Fab U Lust™ in Europe and the United States. [SEC Filing 10-KSB 12-21-07]
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Description:
Med Gen manufactures and markets healthcare products, primarily to the market for alternative therapies.
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Officers:
Paul B. Kravitz (Chair, Sec., CEO & Dir.); Paul S. Mitchell (Pres., Treas., COO & Dir.)
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Auditor:
Stark Winter Schenkein & Co. LLC
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Securities:
Common Stock-Symbol MGEN.OB; OTC BB;
2,325,632,936 common shares outstanding as of December 27, 2007.
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