Business
Northstar announces several advancements including a reduction of debt, and distribution through leading online retailer drugstore.com
Northstar announces several advancements including a reduction of debt, and distribution through leading online retailer drugstore.com.
About this update from Medgen Inc
[{"type":"text","content":"\n\n\n\nNorthstar announces several advancements including a reduction of debt, and distribution through leading online retailer drugstore.com\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNorthstar announces several advancements including a reduction of debt, and distribution through leading online retailer drugstore.com\nPR Newswire\nHOLBROOK, N.Y., Feb. 19, 2014\n\n\n\nHOLBROOK, N.Y., Feb. 19, 2014 /PRNewswire/ -- Northstar Global Business Services, Inc., Symbol (OTCPink: MDIN) today announced that the company has made several major advancements in the past few weeks. One of these advancements is that Snorenz, the all-natural anti-snoring oral spray, is now available for purchase on drugstore.com, the leading online providers of health, beauty, vision, and pharmacy products. Snorenz has been the company's top seller for over a year since it's re-introduction to the market, and the company is confident it will begin showing up in many other big brand name stores in the near future.\n\nAnother major advancement is a large reduction of convertible debt, and a modification of the convertible terms that are much more favorable to the company. Considered to be a negative item on the company's books, debt totaling approximately $154,000, mostly represented by a single note, was convertible to common stock at a steep, flat rate of $0.0001, and was considered by shareholders to be a dangerous precursor to dilution. As part of several moves designed to clean up the company's share structure, that note has been reduced to under $30,000, and the conversion price has been modified so that it is based on the current share price, and will increase or decrease accordingly. Even fully converted, the note will no longer pose the threat to massive dilution it once did. The actual mechanics of the reduction consist of a portion of the note being converted into free-trading shares, and forfeited by the debt holder to the company for deposit into the company treasury. The company feels these treasury shares will provide the needed liquidity and share structure needed to execute a mutuall...