Replies to post #13064 on Medient Studios Inc. (fka MDNT)

[gibbon1]

The financing issue I have got no detail on. But as far as I know the $40 million bond money for project has been there for some time. Why do you think the named the contractor when the broke ground a few months ago. However the IDA even said that decision may have been premature it does not mean much has changed other then dates.

[gibbon1]

Before Mellon even came on board they had mentioned the $40 million bond money was already there for the studio.

[gibbon1]

One of the big things for shareholders that will come out of the IDA meeting is not just start of construction info but an extension of the payment on the lease agreement. That trust me is major in our interest because if the project is behind and medient has not produced a certain amount of jobs in that time frame medient will have to pay all sorts of extra fees that add up to a substantial amount outside just the lease agreement fees. So moving the entire project forward is very important for future money savings trust me.

[gibbon1]

If you look at the very end of this agreement you will see the penalties for not having project completed on time. All this needs to be moved forward.
http://www.lawinsider.com/contracts/1coErvx9zWDawU4DnnlaGP/medient-studios-inc/0/2013-08-27
ESCALATED INSTALLMENTS OF PREFERRED RENT

Year
Installment Amount
6
$ 680,555
7
$ 805,555
8
$ 930,555
9
$1,055,555
10
$1,180,555
11
$1,305,555
12
$1,430,555
13
$1,555,555
14
$1,680,555
15
$1,805,555
16
$1,930,555
17
$2,000,000
18
$2,000,000
19
$2,000,000
20
$2,000,000

[gibbon1]

Good info. Medient has a lease agreement deadline and also a job quota deadline with the county. So all this needs to be pushed forward or in the future MDNT will be paying an ass load more then the need to.
http://www.sec.gov/Archives/edgar/data/1476278/000101489713000343/exhibit103.htm