SOURCE: Megola Inc.

Megola Inc.

December 11, 2009 10:31 ET

Megola Inc. Announces Move Back on the OTCBB

Filing by Glendale Securities, Inc. Cleared by FINRA

POINT EDWARD, ON--(Marketwire - December 11, 2009) - Megola Inc. (OTCBB: MGON) announces that, pursuant to FINRA Rule 6440 and Rule 15c2-11, it has been cleared by the Financial Industry Regulatory Authority (FINRA) OTC Compliance Unit to enter quotations on the OTC Bulletin Board (OTCBB).

Glendale Securities, Inc. filed Form 211 with FINRA to apply to move Megola back on the OTCBB. With the filing, its 2009 Year End Financials and all regulatory requirements, Megola has achieved its stated goal of being in full compliancy with the SEC.

"We are very pleased that the process of regaining status on the OTCBB has been completed successfully. We have worked diligently to put out all of our financial data in order and have put in place the necessary measures to ensure compliancy moving forward. Now that this goal has been completed, we will continue with our primary focus of sales, profitability and company growth," states Joel Gardner, CEO of Megola.

Recent Megola news:

    Megola Inc. Announces Addition to Its Advisory Board
    - David Williams, HAZMAT Specialist, Joins the Team
    http://www.marketwire.com/press-release/Megola-Inc-1089036.html

    Megola Inc. Announces Addition to Its Advisory Board
    - William Biscontini Brings a Wealth of Fire Suppression Experience
    http://www.marketwire.com/press-release/Megola-Inc-1086081.html

    Megola Announces Demonstrations of Hartindo Anti-Fire Products
     Performed at Fort Eustis
    http://www.marketwire.com/press-release/Megola-Inc-1084614.html

    Megola Inc. Signs 'Hartindo AF21' Licensing Agreement With EcoBlu
     Products, Inc.
    http://www.marketwire.com/press-release/Megola-Inc-1080853.html

For more information on Megola Inc. please visit www.megola.com.

Shareholders and investors are strongly cautioned against placing undue reliance on information set forth in these communications in making any investment decisions concerning our securities.

The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

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