Medient Studios Inc. (fka MDNT)

[MoneymakingC]

From pumps and dumps email


The Nightly Recap: June 25, 2014
The SEC suspended trading in shares of habitual Pump & Dump subject, MDNT, today. In a situation somewhat reminiscent of the events leading up to the PGFY suspension, the SEC flipped on the red light after one of MDNT's own called out the company for questionable conduct. Accordng to the Savannah Morning News, former CEO, Manu Kumeran filed a lawsuit seeking to disolve the corporation. The lawsuit followed a coup d'etat by the Board members at which time they relieved Kumeran, the founder of the company, of his duties. They were able to wrest away control of the company by issuing 40 million shares of preferred stock at what what Kumeran calls, "less than fair value". According to the SMN article, provided deposition testimony to the SEC in May. There is no doubt that the sandbox fight contibuted to the SEC's decision. Considering the questionable tactics used to foist shares on retail investors, it is difficult to believe that this all won't end up for the public good. In the meantime, the characters who couldn't play nice, find themselves stuck holding onto their valuables like a flasher on a New York