To the shareholders of MDIN: We've come a long
Post# of 519
Posted On: 10/30/2014 5:52:46 PM
To the shareholders of MDIN:
We've come a long way in the last few months, between the launch of Snorenz Medicated and opening
talks for distribution in other countries for the first time in years. However, I'm very aware that there
are concerns about what is coming next, and the purpose of this letter is to share some of what's on the
way.
For starters, we're well under way with the DTC and have met all of their guidelines for chill
removal. We're waiting for their final review of some of the items that caused them to enforce the chill
in the first place, which should take place in the next week or two. We've complied with their every
request and have done everything possible to get the chill lifted. At the end of the day, the DTC are the
ones with power to actually lift it, and I (like many of you) am looking forward to positive outcome.
We're on our way to resolving the issue with Vermont Country Store, and now have a much better
understanding of where the issue stemmed from. It turns out that the buyer responsible for making
that decision was actually trying to procure original Snorenz, but mistook it for Snorenz Nighttime
instead. They used sales projections based on their previous sales of Snorenz, which I'm sure I or any
number of other people could have told them were way higher than could have been expected from
Snorenz Nighttime sales. Now that all the underlying information has come to the surface, we're well
back on our way to a relationship with Vermont Country Store, where they'll be carrying original
Snorenz, like they did successfully in the past.
We're also going to be running another Groupon deal in the very near future as the launch event for the
new packaging, which is finally complete and in inventory. Groupon doesn't allow us to disclose the
date until they go live, but it will be very soon. That will be shortly followed by the retail shelf test I
mentioned recently, which will finally give us the opportunity to test out advertising options and how
they impact the brick and mortar marketplace.
Finally, we have a very exciting announcement coming within the next 7-10 days. I know you’ve been
told that by previous CEO’s, but I promise this is a major change to the company, and it will propel MDIN
far more than any single announcement to date. I ask that you be patient because the biggest deals
always take the longest, but I can tell you we have a full agreement and just have to work out a few
small remaining details. I will let everyone know about it the second I can. I know you will all be as
excited about it as I am.
Sincerely,
Justin Sindelman
President & CEO
We've come a long way in the last few months, between the launch of Snorenz Medicated and opening
talks for distribution in other countries for the first time in years. However, I'm very aware that there
are concerns about what is coming next, and the purpose of this letter is to share some of what's on the
way.
For starters, we're well under way with the DTC and have met all of their guidelines for chill
removal. We're waiting for their final review of some of the items that caused them to enforce the chill
in the first place, which should take place in the next week or two. We've complied with their every
request and have done everything possible to get the chill lifted. At the end of the day, the DTC are the
ones with power to actually lift it, and I (like many of you) am looking forward to positive outcome.
We're on our way to resolving the issue with Vermont Country Store, and now have a much better
understanding of where the issue stemmed from. It turns out that the buyer responsible for making
that decision was actually trying to procure original Snorenz, but mistook it for Snorenz Nighttime
instead. They used sales projections based on their previous sales of Snorenz, which I'm sure I or any
number of other people could have told them were way higher than could have been expected from
Snorenz Nighttime sales. Now that all the underlying information has come to the surface, we're well
back on our way to a relationship with Vermont Country Store, where they'll be carrying original
Snorenz, like they did successfully in the past.
We're also going to be running another Groupon deal in the very near future as the launch event for the
new packaging, which is finally complete and in inventory. Groupon doesn't allow us to disclose the
date until they go live, but it will be very soon. That will be shortly followed by the retail shelf test I
mentioned recently, which will finally give us the opportunity to test out advertising options and how
they impact the brick and mortar marketplace.
Finally, we have a very exciting announcement coming within the next 7-10 days. I know you’ve been
told that by previous CEO’s, but I promise this is a major change to the company, and it will propel MDIN
far more than any single announcement to date. I ask that you be patient because the biggest deals
always take the longest, but I can tell you we have a full agreement and just have to work out a few
small remaining details. I will let everyone know about it the second I can. I know you will all be as
excited about it as I am.
Sincerely,
Justin Sindelman
President & CEO
(0)
(0)