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Effingham / Statesboro News

Aug. 27 - Medient Studios, Inc. Announces Reverse Stock Split and Name Change to Moon River Studios

Category: Statesboro / Effingham Area News

By Lou Phelps, Savannah Business Journal

August 27, 2014 - Medient Studios, Inc. (PINKSHEETS: MDNT) today announced that the Board of Directors of the Company has approved a 1 for 1,000 reverse stock split of the Company's issued and outstanding common and preferred stock. The Board also approved a name change to "Moon River Studios, Inc."

The name change and reverse split will take effect upon compliance by the Company with applicable regulatory requirements.

Medient Studios, Inc., headquartered in Effingham County, has been a troubled file production company. After a new board of directors was named, and unsuccessful efforts to raise hundreds of millions, the CEO was removed, and the company has announced a scaled down vision for its “Studioplex” which Effingham officials hope will come to fruition.

In 2013, the company entered into a lease agreement with the Effingham County Industrial Development Authority ("IDA") whereby it has beneficial ownership of 1560 acres of land in Effingham County, with plans to construct motion picture studios and other related amenities on the property for film production.

These facilities will include sound stages, production and post-production offices, editing suites, warehouses, mills and set fabrication facilities, referred to as a ‘fully integrated film production campus as a "Studioplex."

The company’s current website is www.Medient.com; no new URL has been announced for the name change.

The SEC halted trading of the company’s stock during a legal battled with the former CEO, now resolved.

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