New York, NY / ACCESSWIRE / April 10, 2014 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a quarterly update on Medient Studios, Inc. (MDNT) (“Medient”) for fiscal Q4 2013 and FY 2013.
“We are encouraged by the progress of the company in the last quarter and also welcomed the remarks of the CEO during the company’s earnings call,” commented Ajay Tandon, CEO of SeeThruEquity. “We look forward to the recently announced release of the movie ‘Yellow’ this summer as well as Medient’s 15th feature production with ‘The Damned.’ The price target is now $0.10 based upon the higher share count and higher target multiples.”
Highlights of the quarter and year are as follows:
- Medient reported gross revenues of $2.1mn in 2013, a 37.1% decrease from $3.3mn in 2012.
- Medient reported a net loss of ($1.4mn), or ($0.02) per share, compared to a net loss of ($117.6k), or ($0.03) per share in 2012. As commented on during the company’s earnings call, this increase was related to the company’s increase and growth in global personnel.
- Subsequent to the end of 2013, Medient announced the selection of Shore Development and Construction, LLC as the construction manager for its Studioplex project.
- Also subsequent to the end of 2013, Medient announced its 15th and 16th movie projects, and the first film on its 2014 production slate, ‘The Damned,’ and ‘Kickback’ starring John Cusack.
- Medient updated investors with a comprehensive Activity Guidance Estimates list for the remainder of 2014.
The report is available at: MDNT Quarterly Update Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, CapitalIQ, FactSet, and Zack’s.
Please review important disclosures on our website at http://www.seethruequity.com/.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson Reuters One (First Call), CapitalIQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
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About Medient Studios
Medient Studios, Inc. (MDNT) ("Medient") (http://www.medient.com/) is an entertainment content creation company with a strong presence in North America, Europe and India. Medient's management team has approximately 150 years of experience in the motion picture industry and is responsible for producing and/or financing over 250 movies. Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and electronic game production facility as part of its Studioplex on a 1,560-acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States.