Dear AntiOne,
I have followed MDNT for several years and met with Manu and Jake in the past. This has been a debacle since its inception and I've had almost everyone I know in media and investments telling me to run away...I should've listened. I started investing in May (and I even read the latest SEC releases by MDNT carefully and knew about the 5 billion shares). I just didn't believe they would have the arrogance to release 2 billion in 30 days. Unfortunate, but Manu has paid the price for his arrogance. Jake may not be that much better, as he states in CC that he has no experience running a movie/entertainment company (except for his Big Jake Music Co. which I believe is defunct). I live in Savannah and have watched closely, believing that once Manu sunk another $600,000 into company it was worth another look. Wrong. I did use speculative money, so I'm prepared to lose it all. I talked to my friend who runs a record label and knows Koppelman...he doesn't believe he's here for any length of time. They need to find a CEO that can run an entertainment company, and that's not Jake. Jake may know how to finance a deal, create a company from a reverse merger, and bleed investors with major dilution. It's hard to imagine Manu came up with the scheme to dilute MDNT shareholders. Manu tweeted his limited knowledge of the stock market. I believe him. Remember it's Jake's financial engineering that enabled Medient to form and Jake was a major contributor to the presentation to each state when they floated the proposal to build a $300 million studioplex.
Jake's the new leader. It doesn't make sense. Plus he gets 40,000,000 preferred shares. How desperate is that. No insider besides Manu will buy shares at this level. A very poor show of commitment by insiders. If Koppelman doesn't find a new CEO who knows the industry and has a vast network, then Medient is doomed. I hope I'm wrong because Savannah is such a great city, Actors/directors/production teams love to visit Savannah when they film. The tax credits are great and probably won't go away. Medient's land deal is sweet. I'm cautiously long.
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