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Wednesday, November 30, 2022

Looking for a Comeback MedCAREERS Group Inc (OTCMKTS:MCGI)

MedCAREERS Group Inc (OTCMKTS:MCGI) is an exciting company that we have reported on before. On January 16 they announced 4Less has recently completed their customer relations management system (CRM System) which now allows seamless tracking of thousands of orders on multiple market platforms. By implementing proprietary software programs to support our growth initiatives, 4Less is quickly becoming a leader in today’s highly competitive e-commerce industry by capitalizing on being an omni-channel seller i.e simultaneously selling through the largest online platforms in the world (Amazon, eBay, Facebook).

MedCAREERS Group Inc (OTCMKTS:MCGI) focus is to develop and build value through its wholly-owned subsidiary Nurses Lounge, Inc., The Company is run by Timothy Armes who was founder of jobs.com which sold to Monster.com in 2002 for $800,000. Later, with Arms still at the helm the Company received another $62 million in advertising, promotion and “other consideration” over a five-year period from Media giant CBS Corp. Mr. Arms said at the time the deal “will allow us to reach deep into local markets with traditional advertising opportunities.” Microcapdaily has reported on this one in the past.

MedCAREERS Group flagship is nurseslounge.com an online professional network and communication platform for nurses and stakeholder organizations such as nursing schools, associations and employers. It’s basically like the Monster.com of RN and it seems to be catching on quickly with the familiar nurseslounge.com logo showing up on the websites of hundreds of top universities across the country. The portal consolidates the profession onto one simple to use network, Nurses Lounge provides the tools and resources that allows organizations a more effective way to communicate directly to their nursing audience and as well as the broader nursing profession. It provides nurse employers, schools and associations with the ability to create groups and successfully communicate news, announcements, and events seamlessly to their members.

The big story on MCGI is the recent acquisition of 4 Less Corp., owner of several branded ecommerce web sites including their flag ship web site Liftkits4less.com.  4Less operates in the $43 billion specialty aftermarket auto parts industry and has quickly grown into one of the largest on-line sellers of Jeep, Truck and SUV suspension systems and related accessories targeting direct to consumer and installation shops here in the US and ships worldwide. 4Less established liftkits4less.com approximately 3 years ago.

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In December MCGI announced the completion of the acquisition of The 4 Less Corp, the owner of Liftkits4less.com. Headquartered in Las Vegas, Nevada, The 4Less Corp is a fast growing e-commerce, automotive specialty equipment parts and accessories company with highly targeted automotive “niche” web sites created to offer consumers the best buying experience on the internet today. Utilizing unique content such as: photos, installation directions, high impact “how to videos”, and live chat support resulting in top SEO results for the company’s manufacturer’s products.

The Company said 4Less Corp. recently became a factory direct authorized dealer for 5 major lines of a billion dollar automotive aftermarket manufacturer. 4Less is working with other manufacturers to obtain direct authorized status as the company prepares itself for a major push in sales for 2019. “The combination of expected higher revenues in 2019 coupled with a push to increase margins is part of the company’s overall growth strategy,” said Tim Armes, President and CEO of MedCareers, “Higher revenues and better margins should translate into higher overall value.”

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Currently trading at a $500k market valuation MGCI has little assets or revenues and $2.4 million in debt. MCGI is an exciting story developing in small caps that recently closed on their acquisition of the 4 Less Corp, the owner of Liftkits4less.com which has been making a number of big movers in recent weeks. In 2015, their first year of operations, Liftkits had revenues of $2.4M which they grew by 280% to $6.8M in 2017 and was close to break even. For 2018 they are on track to surpass revenues of 9 million dollars according to MCGI. The problem with MCGI is the debt and dilution; if management could work something out with debt holders good things could happen here. We will be updating on MCGI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MCGI.

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Disclosure: we hold no position in MCGI either long or short and we have not been compensated for this article.

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