Replies to post #43341 on Medient Studios Inc. (fka MDNT)

[TESLA777]

here's the timeline via the 8-K (6-16-2014), some of these event were filed late, they should only have 4 business days after the event to file an 8-K, yes??:

Item 5.02: Departure of Certain Officer, Election of Directors, Appointment of Certain Officers

On May 22, 2014, David Patterson was elected to be a director of the registrant. As consideration for becoming a director, Mr. Patterson is being issued 29,565,217 common shares of the registrant. His initial term shall be a period of one year. There are no committees of the board of directors to which he has been named. Mr. Patterson has not had any transactions with related parties. There are no material plans, contracts, or arrangements to which Mr. Patterson is a party.

On June 9, 2014, Manu Kumaran was removed from his position as Chief Executive Officer and as Chairman of the Board of the registrant by a vote of the Board of Directors.

On June 9, 2014, Jake Shapiro was appointed as the Chief Executive Officer of the registrant.

Jake Shapiro, 43, has been with Medient since 2012. From 2007 through 2011, he was the president of Belle Haven Capital. From 2011 through 2012, he worked as a private consultant. From 2012 through June 9, 2014, he was the president of corporate finance for Medient Studios. He graduated from the Rutgers University School of Management in 1995 with an MBA in finance, and graduated from Rutgers University in 1992 with a BA in Political Science, History, and Economics.



Item 8.01: Other Events

On June 9, 2014, Charles Koppelman, a director of the registrant, was appointed to be Chairman of the Board of the registrant.

Jake was issued those 40 million preferred on June 12:

They may have voted on it on June 9th though, which we may have to assume is the case.

Item 3.02: Unregistered Sales of Equity Securities

On May 22, 2014, the registrant issued 29,565,217 common shares to David Patterson as consideration for him joining the registrant’s Board of Directors. The expected value of his contribution as a director is $103,478. These shares were issued under the private placement exemption under Section 4(a)(2) of the Securities Act. Mr. Patterson has enough knowledge to be considered a sophisticated investor, has access to the type of information normally provided in a prospectus for a registered securities offering, and has agreed not to resell or distribute the securities to the public.

On June 12, 2014, the registrant issued 40,000,000 Series A preferred shares, par value $0.001 per share, to Jake Shapiro as consideration for him being elected as the registrant’s Chief Executive Officer. The value of the shares paid for Mr. Shapiro’s services was $64,000. These preferred shares have a voting power of 250 votes per share. These shares were issued under the private placement exemption under Section 4(a)(2) of the Securities Act. Mr. Shapiro has enough knowledge to be considered a sophisticated investor, has access to the type of information normally provided in a prospectus for a registered securities offering, and has agreed not to resell or distribute the securities to the public.

[naturalborninvestor]

How can shares be issued when the stock is suspended?