I have always been a staunch supporter of Medefile, and for this I make no apologies. Despite the ups and down, the bashers and short-sellers, the manipulations, and the foreign market rip-offs, the company showed promise. With no debt and a record year in 2011, a Current Ratio of 2.5 and good revenue retention, it looked like Medefile would grow into an industry leader; then in the wake of two incredibly bad decisions we stand surveying the wreckage of what might have been. The decision to do away with telemarketing was the first mistake as the company surrendered the ability to generate its own business; depending on affiliates to promote memberships is never as effective as dedicated self interest. These other interests would still exist regardless of whether they recruited new members or not; for Medefile it was life or death. There may have been extenuating circumstances that made it necessary to abandon telemarketing but we investors were not informed of these. All we know is that a group of loyal investors got shafted to the tune of just over $216,000.00 with the reverse split, the second bad decision. We all did our research but to what avail?
The share price of $0.80 is down 46% from its post RS-level of $1.51, and don't look for it to get any better. I posted my experience with ANX when they did a reverse split; they have never recovered and are still trading @ $0.55 after the $1.68 post-RS share price.
I still have trouble believing that Medefile intentionally blew itself out of the water. They may have but I have seen no evidence of that. If the company acted on bad (or malicious) advice, then they are also victims along with the twenty-three investors who got robbed. If you are reading this, Kevin, are we to believe that you so callously trashed your father's dream by steering this company onto the rocks? I don't want to believe that but it will take some convincing. If my estimation is correct then join us in our effort to bring down the bad guys and recover our losses. If I'm wrong then further silence on your part will state that fact louder than anything possible.
Kevin owes you no explanation. YOU invested in this garbage without anyone putting a gun to your head. I was screaming at you people about this co. being a very bad investment. What? I could see it but you could NOT. When you invest in a co. you take chances. You don't get your money back because you made a bad decision. Only dumb people invest in companies like this one.