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This doesn't mean that the bonds are sold only that they are approved for issuance.
Where do you get your information that the bonds are done placed and
finished?
Here is where the number 40 mil comes from:
http://www.marketwired.com/press-release/prime-focus-to-partner-medient-in-georgia-studio-project-otcqb-mdnt-1787345.htm
They do not have 40 mil dollars on hand.
After some due-diligence I feel that this stock does look extremely cheap selling at .01 vs the price range that it sold for before this project even came into being. I think you must ask yourself the following: If the Effingham project doesn't get completed or is delayed, can the company still survive? IMO it will survive and the stock is a value at these levels. This stock has been driven down way too much IMO. IMO In addition The State of Georgia, City of Savannah, and Medient Studios will do everything in their power to get this project completed. (One phase at a time) Projects like this sometime take longer than anticipated because they are complex.
"Rome wasn't built in a day"
Lease of property from Authority
http://www.sec.gov/Archives/edgar/data/1476278/000101489713000343/medient8k101203901821v3.htm
I have requested information from the Authority.
I asked IR the other day if they could give me a copy of the "underwriting agreement" and they said that they would have to get back to me. I am still waiting. I also want to see a copy of the "Resolution" authorizing the bonds.
Stockholders can send emails to Investor contacts for Medient and ask these questions. That's what they get paid for. See what happens?
I do own shares. I am also very familiar with financing projects like this and due-diligence. I am just trying to find out where this project stands. Many of you are banking on "Yellow" now, however, how much money will flow to Medient if this Movie is successful? These are all things we can find out to become familiar with our company.
I want to see the 40 mil. Show it to me.
I agree with the new Investment Banker and have said so previously, however, it doesn't stop us from doing work on our own. We are owners of this company and need to know what they have been doing and what they intend to do.
Due-Diligence information needed to form opinions about project
I have read though the board postings and have not learned anything new since yesterday. I think that if you want to do due-diligence on this company you have got to learn the following:
1. Is there an actual feasibility study of this project?
Normally A large CPA firm would complete a study showing projections and debt service coverage projections on the bonds to be sold. This way the investor or Financial institution buying the bonds would have an idea of how the loan would be paid back.
2. What did Mellon get done while he was with the company?
3. Has the company changed their plans regarding raising of the funds for this project? Maybe the project needs more equity such as a LTD Partnership or another form of equity infusion in order to get the bonds placed.
You need to see exactly what the minutes of the Economic Development Authority to begin with. IMO
At 1.33 I would expect more than 4 posts today. Did everyone sell out?
Okay, I found the article. Now, let's see the commitment!
http://pagesix.com/2013/10/20/mellon-banking-heir-pooling-cash-for-georgia-film-studio/
Show me the money. I can't find anything that shows Mellon arranged the 40 mil.
Add to my last post. I think that I did see that the Authority was contributing $1.25 million in site development but not 40 mil.
I saw nowhere where they had the 40 mil for phase one. All I saw is that they had a few hundred thousand for grading etc. They need to place the bonds to finance the project. IMO They have hired a new Investment Banker but I saw nothing about an underwriting agreement to buy or sell bonds to finance the first phase of the project. IMO
The Authority is giving them the lease for the land then allowing them to buy it for 100.00 at the end of the lease. They have authorized the issuance of up to 300,000,000 in financing to build this project. They are giving the company good incentives, and I think a great price for the land. However, the company has to fund the project somehow. IMO
I understand. But the money for these phases will not come from the Authority. They have merely authorized the issuance of a taxable loan to finance this project. They are not going to give the money to the company for these phases. They are simply giving the company a land lease, plus incentives like tax credits, roads etc. The majority of the money for this project will have to come from the company itself.
Basically all that the Authority is doing is giving them a lease on the land with some great incentives for building this project there. The real money to build this thing isn't going to come from the authority. They company needs to get it done itself or they need to bring in a "Sugar Daddy"! IMO Maybe a new joint venture partner. IMO
No I am not talking about the 300,000,000 approval. I am talking about the construction loan agreement. How much is it for and who issued the underwriting agreement? How much money has been used, what are the guarantees and how much is still available to draw down.
Why not?
Has anyone seen the "Underwriting Agreement" with the New York Investment Bank that gave them funds to start the project? How much money have they used so far? How much is available? Why aren't the stockholders, who are owners of the company, privy to see who the underwriter is, security pledged for the loan, and the amount of the loan?
I think that we will have some news by Tuesday next week regarding a new game plan. CEO now looks "humbled" by the failure to move forward in this project and has brought in an Investment Banker to create a new game plan to get this project moving again. Time will
Tell. I do like the Atlas acquisition. Looks like there are hidden assets that can be liquidated to provide short term cash for operation. There seems to be a new director of this Movie! IMO
I didn't see the link to the Effingham Industrial Authority. Here it is. Please note that the Medient project is at the top of their partner's list of projects:
http://www.effinghamindustry.com/partners-in-progress/
Earnings announced. Nothing new. Still looks like stock under accumulation. See you next quarter.
Earnings announced. Nothing new. Still looks like stock under accumulation. See you next quarter.
Out of Week Hands
Moving out of week hands. Company way underpriced.
Buy on weakness in this stock IMO
Only public penny auction site. 2014 will be a big year for this company.
Recent moves bringing on Koppelman and the new Investment Banker relationship should be noted. This is just like a chess game. The company has been told what they have to do and they are moving in that direction. They have been bringing in all these people and reforming this company. This is the type of stock where something will happen, the stock will stop trading and then it will reopen at a substantially higher level. IMO
It all boils down to who is going to buy this stock at these levels.
I feel that the short term moves that are being made now will attract some large players, investors, who will buy millions of shares and tuck them away. They will have to have confidence in management that the company will succeed with the project. It looks like the stock is in very week hands now, however, time will tell. There is a considerable amount of money that will be made in this stock IMO.
I am happy to see the new investment banking relationship:
http://finance.yahoo.com/news/medient-appoints-merriman-capital-capital-140000124.html
Looks like they are on the road to nasdaq listing in future.
IMO
Think of it this way. This is a major complex that will be an asset to the State and the local community for years to come. It will create jobs, jobs, jobs! Put the community on the Map! I can't see this project not getting done. Can't believe this stock went so low! IMO
I concur. There is no way that Georgia is going to let this project fail. Will be big employer. The right people are coming together now to get the job done. IMO
I am new to the board. In at .0135. Stock is way too cheap!
Wish I would have seen it earlier, however, I am ready to make big money in this one. Normally, when you have community and State support you find a way to get the financing completed. I believe that this will happen with this one.
Remember that no stockholder has a loss at this point! This is great for a momentum stock. Up up and away! Here you got a public penny auction company that advertises their stock every time someone comes into the site to take a look. I love it! Good luck all you GANKSTERS! LOL
New commercial now on youtube: