HOLBROOK, 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.
Another 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 mutually
beneficial merger or acquisition that the company may enter in to
in the future.
Company CEO Nick Chieco explains,
"We needed a way to reduce the debt and at the same time create the
tools I need to make this company an attractive acquisition target.
Converting part of the debt and having those shares in the treasury
is in effect, killing two birds with one stone. When this takes
effect, the number of outstanding shares, and the float will both
increase, but the shareholders can feel secure knowing that part of
that float is safe in the hands of the company, and any
distribution of them would have to be disclosed."
The company would also like to point out the much awaited
release of its new website, at www.medgeninc.com. The new site is a
marked improvement over the previous site, and a sign of the
company's new thrust forward, which will include the release of
several new products including a Stem cell enhancing nutritional
bar, a medical marijuana oral spray developed with an established
industry manufacturer, and much more. These are all part of an
apparently succeeding strategy to make Northstar a household
name.
About Northstar
Northstar Global Business Services is dedicated to producing the
best alternative healthcare products to the world. The company's
product line includes Snorenz®, Snorenz Night Time ™, Good Night's
Sleep®, Stem-Intense, and Health Enrich for Pets™. 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.
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. The Company undertakes no obligation to update or
advise in the event of any change, addition or alteration to the
information catered in this Press Release including such
forward-looking statements.
SOURCE Northstar Global Business Services, Inc.