Healthcare solution entrepreneur Med Gen Inc. (OTCBB: MGEN) lit up investor interest when it announced that its June 2007 revenue nearly broke the record for the company.According to Med Gen’s most recent statement, the company reported an-unaudited revenue of $316,566 for the month of June 2007, a whopping increase of 4,726 percent over the recorded revenue of 2006. In addition, the company’s total nine-month unaudited revenue was reported at $1,414,403, a 731 percent increase over the same period last year. Operating profits from what the company calls “combined operations” hovered around $150,000.
This is excellent news for Med Gen. The company made its name in manufacturing and marketing specialty spray-based products, particularly with its Snorenz liquid spray snoring relief formula. Since it was created in 1996, the company has developed numerous kinds of alternative spray-based healthcare products, such as Good Night’s Sleep and the UnDiet system, in addition to manufacturing other forms of health delivery mechanisms, such as the FootFridge, a patented innersole that cools and comforts the feet.
Med Gen Chairman and CEO Paul Kravitz was extremely cheered – and sounded somewhat surprised – by the news.
“The usual summer doldrums do not seem to be affecting our continued growth,” Kravitz said in the release.
Kravitz also said that his company will follow through with its advertisement campaign well into the fall season.
“We are continuing with our scheduled TV commercial launches for Painenz, Snorenz and Good Night’s Sleep, which are scheduled for early fall,” Kravitz said. “We are also tweaking the FootFridge commercial previously aired and the Home Shopping Group is on schedule to air Painenz. This will be a busy fall season for the Med Gen product line.”
Share prices for Med Gen were sluggish on market open today despite its fluctuation yesterday, hovering around yesterday’s closing price of $.0015 a share.