HOLBROOK, N.Y., January 4, 2016 -- Medgen, Inc. (OTCPink: MDIN) today announced that the company has signed a supplier agreement with Internet giant, overstock.com, to distribute Medgen products to the millions of overstock.com customers, but this is just the beginning for the company heading into 2016.
CEO, Matthew Briggs has been hard at work the past few months presenting and negotiating with retail stores of both the brick-and-mortar, and online varieties. Mr. Briggs explained, “There is no doubt that Medgen has everything going for it, including great products, dedicated customers, profitable manufacturing strategies, and powerful partners. The only thing really missing has been the distribution power the company needs to bring in serious cash flow. Until now we were still re-building a company, and I don’t think Medgen was ready to really go after the distribution it needed. Now it is. Naysayers may say that the distribution piece is the most difficult thing to get, but I say that is truly not so. Medgen has already had national distribution for at least one of its products. As recently as a few years age, Snorenz® was sold in Wal-Mart™, CVS™, Kmart™ and many major retail chains selling upwards of ten million bottles, and generating millions of dollars per year for the company. The only reason that stopped is that the company at the time decided to focus on different distribution strategies. The recent administration realizes past management’s error, and the rebuilding of the company’s all-natural product line has been underway for the past few years. I expect to have far more success in 2016 than the company had in the past. “
Mr. Briggs’ optimism is well founded. Interest in the company’s newest products has been overwhelming and the company has been preparing for a major bump in manufacturing to fill the orders it expects in 2016. With all the pieces in place, the job of management this year will be two-fold. First, the company will re-open all distribution channels and add new ones to get national distribution of its entire line so that the company can earn the revenue it needs to become a global supplier of natural remedies. Second is to clean up its public equity, including getting audited financials, becoming fully reporting with the SEC, listing on a more reputable market, and utilizing its jump in revenue to buy back 50% to 75% of its outstanding common shares. However, with that, management says that any kind of reverse split is off the table at the moment, and the belief is that it can be accomplished without a detrimental change in share structure.
These are not goals the company has never set before. Medgen has had its eye on these things several times in the past few years but just didn’t hit the mark, so why now? Mr. Briggs explains, “I think the previous management had good intentions but didn’t have the tools. Say what you want about the few failures, but they had many successes, most important of which is that they created products that the public loves. I think past attempts at share buybacks and listing on a higher market fell short because the company was simply not ready. There were a lot of pieces of the puzzle not yet in place and that is just no longer the case. We have the infrastructure, the systems in place, and the people who can make it happen, and those are things not easily visible to the public. Knowing what I know now, there is no doubt in my mind that Medgen will be in a completely different position a year from today. I believe we will have national distribution with more than one major retail chain, we will be on a more reputable trading market with audited financials, our outstanding shares will be a quarter of the size it is today without splitting, and we will be generating substantial sales. Everything I do, and every decision that is made this year will be aimed at making that prediction come true.”
About Medgen, Inc.
Medgen is dedicated to producing the best alternative healthcare products to the world. The company's products include SNORenz®, SNORenz Night Time™, Stem-Intense™, and more. Most of the company's products use a unique or patented spray delivery system, and all have received rave consumer reviews all over the world, selling millions of units from 1996 to the present. For more info the company encourages people to check out www.medgeninc.com or follow the company on twitter at @medgeninc.
DISCLAIMER
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements.