Medient Studios Inc. (fka MDNT)

[Sooah]

What two sides of the story? There was a board meeting and the majority voted Manu out which is valid per NV law. Shapiro wanted to file a resolution to fire Manu and he took 40MM Preferred which he is not entitled to. The BOD cannot just give Shapiro 40MM Preferred because they feel like it--it requires legal procedures with NV which did not take place prior to the meeting so Shapiro issuance is invalid and should be ruled as such.

Manu is not suing MDNT for wrongful termination. He filed as a beneficial shareholder of 10% requesting dissolution of MDNT. The only thing that is a bid overboard is the request for dissolution. He wants control of MDNT and that is fine--he can do this by voiding out Shapiro. Very simple.

We also learned that Shapiro held/holds debt. This excessive dilution could very well be Shapiro trying to rub out Manu as a 10% holder to take away his rights under NV law. But, Shapiro was too late because the case has already been filed and as of the filing date, Manu qualifies for the threshold.

I bet we hear something from MNDT at the latest by this Thursday--either Shapiro or CK will update shareholders. Their official court response is due by mid July though.

Very interesting and amusing to watch.