Medient Studios Inc. (fka MDNT)

[Debbie777]

You should take another look at the balance sheet then, way more then the debt they claim to have paid off in that press release. They only paid off a portion of the credit line. $11 Million in debt as of filing, the PR only mentions paying off around $1M for Yellow and the credit line is a portion of the debt. I think it is still at least $5 million and probably close to $8 million.

What am I missing with the Credit line?

NOTE 8 - CREDIT LINE

As of March 31, 2014, the Company has a credit line of which $600,000 has been drawn down and with interest and other costs the amount outstanding of $788,289. The Company has no other outstanding liabilities on any credit facilities. The annual interest rate on the credit line is 12%. The current credit line was repaid on May 13, 2014 in the amount of $806,506.