All good things must come to an end, and Wednesday during "RapFix Live," Consequence announced that he and his "former friend" Kanye West have severed business ties, and he is moving on to start his own record company.

"My purpose for coming here is clarification. There are many fans who still align me with G.O.O.D. Music and it's not fair to their intellect that they are fooled in that manner," Consequence told MTV News' Sway. "I'm not a part of G.O.O.D. Music, I'm the CEO of Band Camp Records. Any piece of intellectual property or artist you hear come my way is via Band Camp Records."

Cons, who appeared as a guest on Kanye's debut album, The College Dropout, and its 2005 follow-up, Late Registration, also confirmed that he has [article id="1663302"]written songs with Kanye[/article] in the past. For example, Consequence (real name Dexter Mills) was credited as a writer on Kanye's 2008 track "Paranoid," though he didn't sing on the track. According to Consequence, however, there were times he didn't get his just due. "One record that I never got credit for, which always stuck out in my mind, was that I helped out with some of the rhymes from 'Champion,' " Cons said of the 2007 song that appeared on Kanye's Graduation.

Quence grew increasingly frustrated when his sophomore album, Cons TV, was pushed to the backburner. According to him, that's when his and Kanye's relationship began to strain. Now the oft-delayed album will be renamed Get Even.

Consequence is also getting set to release his Movies on Demand 3 mixtape and branding his independent Band Camp record label. As of now, the Band Camp roster includes himself and up-and-coming singer Tannie J, as well as producers Lee Bannon and Produce Section.

What do you think about Consequence leaving G.O.O.D. Music and starting his own label? Tell us in the comments.

For more on Consequence and the G.O.O.D. Music saga, stay tuned to MTV News and our RapFix blog.