UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported 12/26/2007)
Med Gen Inc.
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(Exact name of registrant as specified in its charter)
Nevada 000-29171 65-0703559
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(State or other Jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
7280 West Palmetto Park Road, Suite #306, Boca Raton, FL 33433
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(Address of principal executive offices)
561-750-1100
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(Issuer's telephone number)
Not Applicable
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(Former name or former address, if changed since last report)
All Correspondence to:
Paul B Kravitz CEO
C/O Med Gen Inc.
7280 West Palmetto Park Road
Suite #306
Boca Raton, FL 33433
Item 8.01 Other Events.
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On December 26th, 2007 the Company received the certified tally of the
proxy solicitation which authorized the increase of the issued and
outstanding shares from 2,500,000,000 to 12,500,000,000 million. The
authorized is comprised of 12,495,000,000 common shares and 5,000,000
preferred shares.
The vote was as follows:
For: 1,781,890,897
Against: 203,559,082
Abstain: 37,587,952
The Company will immediately amend its certificate of incorporation in
Nevada.
As of the date of this filing there are 2,295,632,936 common shares
issued and outstanding.
The purpose of the increase in the authorized shares was to cover any
registration rights the funding group has under its definitive
agreement. The funding group has funded $7,190,000 as of the date of
this filing.
The funding group has converted $1,642,076.44 of convertible debentures
into 1,780,500,130 of common shares since August 2005 in an effort to
reduce the Company's debt load.
The Company anticipates another capital drawdown in the approximate sum
of $1,000,000 in the second quarter in order to effectuate its business
plan and achieve a positive cash flow.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
The registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Med Gen Inc.
Date: December 26th, 2007
/s/Paul B. Kravitz
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Paul B. Kravitz,
Chairman & Chief Executive Officer