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The Company purchased all the membership interests of Kumaran Holding, LLC for a purchase price of thirteen million seventy eight thousand dollars ($13,078,000). This will be paid in the form of ten million (10,000,000) preferred shares and twenty six million (26,000,000) common shares of Medient Studios, Inc. This deal closed on November 26, 2012.
Manu got all the preferred shares and the officers and directors got the common shares. This was all done after the board created the preferred share class and disclosed that also.
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