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MEDGROUP INC. ANNOUNCES INTERIM SIGNIFICANT FINANCIAL CHANGE

 ENCINO, Calif., Sept. 24 /PRNewswire/ -- MedGroup Inc. (NASDAQ: MDGP) filed a Form 8-K with the Securities and Exchange Commission reporting the company's July and August 1993 operational statements and five-month Balance Sheet. The company significantly increased stockholders' equity from the March 31, 1993, year-end report of $448,448 to this Aug. 31, 1993, interim statement of $1,377,200. The improvement resulted from favorable creditor/litigation settlements, completed (previously reported) share sale private placements, and a two-month operational profit of $16,234.
 MEDGROUP INC.
 Five-Months Operation
 Ended Aug. 31, 1993
 July 1 to Aug. 31, April 1 to Aug. 31,
 Gross sales $566,199 $1,469,165
 Gross profit 274,475 484,338
 Net profit 16,234 4,937
 Profit per share $.00378 $.00115
 The company has 4,293,183 shares outstanding.
 -0- 9/24/93
 /CONTACT: Robert McGuire, MedGroup Inc., 818-783-6035/
 (MDGP)


CO: MedGroup Inc. ST: California IN: HEA SU: ERN

JB-LS -- LA008 -- 5430 09/24/93 12:40 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
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