Medient Studios Inc. (fka MDNT)

[jwblue74]

The PR was nothing we didn't already know except for the exact amount of "Yellow" debt being paid. Now, we know $3M was paid instead of the entire amount. My new calculations would put the O/S at 2.2B if the conversion price for the $3M in debt was .002. If the conversion PPS was higher than the O/S would be lower as where we are now. Hopefully, all the debt holders shares are close or done being sold in the float so we can start to move back up. A couple of things I didn't like was he didn't give any estimated revenue projections on "Yellow". Maybe, Manu is saving that PR for next week. Another thing I didn't like from the PR was why this was absolutely necesssary to eliminate this debt so they could release "Yellow". The only debt that really had to be cleared was the AMAG note which was in default. That note with interest was at $1.3M. All the other debt was due in 2016 or post release of "Yellow". So, I'm confused on that decision making process. I thought the "Yellow" debt was needed to be cleared for bank financing purposes of the studioplex.

BTW - I'll be having a few scotches tonight. : ) Enjoy your weekend!!!!!

Manu Kumaran, Chairman of the Board, stated, "Yellow is a ground breaking film that we can all be very proud of. It was absolutely necessary to eliminate the multiple debts on the film so that the film can be released this summer. As a result of paying off the majority of the investors the bulk of the revenues generated by Yelllow will to come directly to our treasury." Mr. Kumaran added, "We will reinvest these funds into new productions, so that any future dilution related to film production should be reduced or eliminated."