Replies to post #5670 on Mass Hysteria Entertainment Co. (fka MHYS)

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Right after the Academy Awards ....lol but seriously no one agrees with my assertion an app of this nature is a gimmick and true movement will happen when / if there is serious film development and distribution; and you here what action has been taken to alleviate debt / how that one particular loan is panning out ...IMO

We had a total stockholders’ deficit of $1,534,480 as of May 31, 2012, and an accumulated deficit as of May 31, 2012 of $7,628,925.

We had $140,000 of net cash provided by financing activities for the six months ended May 31, 2012, which included $65,000 in convertible debt, $70,000 in other short-term debt (net) and $5,000 from the sale of common stock.

On May 11, 2012, we entered into an agreement with Coral Ridge Capital Partners, LLC (“CRCP”), under which , CRCP agreed to provide up to $300,000 in financing towards the production of the motion picture currently entitled “End of the Gun” (the "Picture"). The initial $100,000 was paid to us on June 12, 2012. The balance is due from CRCP within two weeks prior to the start of filming, provided that a completion bond is in place and we have received a commitment letter from a senior debt lender with respect to financing the balance of budgeted production cost. In consideration of CRCP’s investment, we agreed to pay CRCP a bonus of up to $50,000 and a minimum of 20% perpetual equity interest in the adjusted gross receipts of the subject motion picture. If the motion picture is abandoned, we are required to repay the CRCP for all funds actually paid to us, plus interest of 12% per annum.