Chairman's Letter

May 21 ,2007

 

So now I’m “Poetry Paul.” At least that’s what a chat room advocate is calling me. Not that I’m a fan of chat rooms that are full of “short” players and manipulators. Although its not a bad compliment, considering I’m just an ordinary guy from Brooklyn. My Mom always said I had a way with words….Wish she would have lived to hear what they are saying about me now. Not that I’m complaining, or anything like that, but living in a glass house the way I do does have its scary moments. I guess it comes with the territory.

I would however like to answer more of the very intelligent questions that I get from our Shareholders. With almost 3,000 Shareholders, it’s hard to answer everyone’s questions…. Some of them take minutes to read and more to answer.

Guys and Gals, I don’t have minutes to read every question, at least not when I get on average, 200 questions per day. Frankly, that’s why I started posting Letters From The Chairman. I really haven’t seen any other Company attempt this kind of communication with its shareholders, maybe because it’s to risky or maybe most executives hide behind their lawyers or maybe their just to scared to say it the way it is. One thing for sure, just being human is reason enough to make mistakes and I’ve taken my share of lumps for the mistakes I’ve made. Med Gen, as a company, has nothing to be ashamed of. Proud is what we are! We have products, a developing business, capital to spend, and a savvy devoted management group (not overpaid either). Frankly, we have more to offer than 2/3rds of the companies that share our trading market. Or, haven’t you noticed lately the number of “E’s” after company symbols. The “E” does not stand for exceptional it stands for exception…They broke a rule!

Seems to me that the major complaint is that I don’t give enough explanation for doing things. All one has to do is read our filings. We explain everything, the problem is it’s all in the past. There are 167 pages of rules that warn of the impeding dangers of explaining future events. Of what to and what not to say, and what can happen if something doesn’t happen. As one fellow CEO said recently, I just take the easy way out…I don’t say nuttin! Don’t write nuttin! And just pay huge legal bills. Just don’t say nuttin isn’t my way.

I have another idea! How about we try it this way! Go to our web site (www.medgen.com), click on Med Gen Corporate (right top).. and write me. If the question is answerable, and if you don’t curse at me [please], I promise I will answer your questions within 36-48 hours. In fact, you might not believe this, but I love to talk to my Shareholders and I have enjoyed relationships with many. So bring it on! After this maybe there will be nothing to complain about. Oh well, I guess that’s just fantasy. While you’re there, buy something. Make me feel good!

Hoping to hear from you soon,

Paul B. Kravitz
Chairman/CEO