Replies to post #21610 on Medient Studios Inc. (fka MDNT)

[Rodger90]

What do you mean? He converted his loans that he could have easily diluted shares and paid himself. How is that back pay?

[lennylovespenny]

?? The company had a debt to him personally. Hè converted the debt to shares at bookvalue (6.4 cents) which means a discount of 500k to the value of the debt and so far hè did not get any pay.

So this means mdnt has 650k (ish) less debt on the balance sheet and Manu shows shareholders how strongly hè believes the shares should and Will trade higher.

Why so negative?

[downthehatch]

Buying these cheap shares-- not sure why anyone would dump when the owner confirms he is trading debt (which has priority in the case of a bakruptcy) for common shares at a conversion price of .064.

But I am happy to buy in at about 1/7 what the company CEO is paying!