CUSIP No. 30605U109
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1. Name of Reporting Person
TIMOTHY JOHN STABOSZ
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2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_]
NOT APPLICABLE (b) [_]
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3. SEC Use Only
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4. Source of Funds (See Instructions) PF
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5. Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) [_]
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6. Citizenship or Place of Organization UNITED STATES
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Number of (7) Sole Voting Power 35,759,724
Shares ____________________________________________
Beneficially (8) Shared Voting Power 0
Owned by ____________________________________________
Each (9) Sole Dispositive Power 35,759,724
Reporting ____________________________________________
Person With (10) Shared Dispositive Power 0
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11. Aggregate Amount Beneficially Owned 35,759,724
by each Reporting Person
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12. Check if the Aggregate Amount in Row (11) Excludes [_]
Certain Shares
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13. Percent of Class Represented by Amount in Row (11) 5.4%
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14. Type of Reporting Person (See Instructions) IN
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ITEM 1. Security and Issuer
Common stock of Medient Studios, Inc. ("the company"), 13 Southern
Boulevard, Savannah, GA 31405.
ITEM 2. Identity and Background
The reporting person, Timothy J. Stabosz, 1307 Monroe Street, LaPorte, IN
46350, a natural person and United States citizen, is engaged as a private
investor. He has not been convicted in a criminal proceeding (excluding
traffic violations or other similar misdemeanors) in the last 5 years, and has
not been a party to any proceedings, or subject to any judgements, enjoinments,
decrees, et al., related to violations of state or federal securities laws, in
his lifetime.
ITEM 3. Source and Amount of Funds or Other Consideration
The reporting person has expended personal funds, in the amount of
$163,815.30, to purchase the shares. The reporting person has not used any
borrowed funds to effect the purchases.
ITEM 4. Purpose of Transaction
The reporting person holds the shares, primarily, as a "venture capital"
type of investment/speculation.
The reporting person believes the company possesses tangible value,
that is not being recognized in the marketplace. The arrangements with
state and local government in Georgia, in particular, do not appear to be
accorded the intrinsic value that they represent.
While the reporting person believes the company has a visionary bus-
iness model, and has established a number of important relationships, the
reporting person is very disappointed that company management has seen
fit to pay off company liabilities through massive issuances of common
stock. The reporting person believes that this represents poor financial
planning, and that it damages the willingness of long term investors to
commit to the company's vision.
While appearing to "swear off" any further share issuances, at various
times, the company seems to continue to "fall off the wagon," and resort
to the "tried and true" method of "turning on the printing presses." The
net effect upon the company's image is that, despite the intriguing story
Medient has to tell, it is viewed by many as a kind of "banana republic."
The company has gone through the functional equivalent of a
prepackaged bankruptcy, with the increase in common shares outstan-
ding from 40 or so million, in the fall of 2013, to the most recently reported
661 million. The notion that management has "no other options," other than
massive share issuances, shows the desperate need for Medient to find
candidates for its board of directors with experience in finding more
appropriate, and legitimate, sources of capital, that do not damage the
company's image and reputation in the investment community, and where
common stockholders can feel that their equity ownership is PROTECTED,
rather than cannabilized.
As the company is effectively controlled by the CEO, the reporting per-
son requests that the board of Medient seek to put at least one new board
member on, directly representing outside shareholders, and unaffiliated
with management, in order to restore confidence that the company will
not continually resort to "revving up the printing presses," as an ongoing
"fallback position" for capital raising.
The reporting person may increase or decrease his position in the
company, based on any number of factors.
ITEM 5. Interest in Securities of the Issuer
As of the close of business on June 9, 2014, the reporting person has
sole voting and dispositive power over 35,759,724 shares of Medient Studios,
Inc.'s common stock. According to the company's 1st quarter 2014 Form
10-Q, as of May 16, 2014, there were 661,250,840 common shares
outstanding. The reporting person is therefore deemed to own 5.4% of the
company's common stock. Transactions effected by the reporting person,
in the previous 60 days, were performed in ordinary brokerage transactions,
and are indicated as follows:
04/10/14 bought 1,250,000 shares at .011
04/10/14 sold 255,000 shares at .013
04/14/14 bought 1,000,000 shares at .009
04/15/14 bought 375,000 shares at .009
04/16/14 sold 245,000 shares at .013
04/30/14 bought 25,000 shares at .008
05/01/14 bought 975,000 shares at .008
05/02/14 bought 605,556 shares at .007
05/05/14 bought 1,668,023 shares at .007
05/06/14 bought 2,601,421 shares at .006
05/07/14 bought 1,000,000 shares at .006
05/08/14 bought 1,500,000 shares at .005
05/09/14 bought 2,500,000 shares at .004
05/12/14 bought 2,880,000 shares at .004
05/14/14 bought 2,520,000 shares at .003
05/15/14 bought 3,000,000 shares at .003
05/20/14 bought 1,171,275 shares at .003
05/21/14 bought 4,199,600 shares at .002
05/22/14 bought 1,300,400 shares at .002
06/05/14 bought 1,250,000 shares at .002
06/09/14 bought 3,400,000 shares at .002
ITEM 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer
None
ITEM 7. Material to be Filed as Exhibits
None
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date 06/09/14
Signature Timothy J. Stabosz
Name/Title Timothy J. Stabosz, Private Investor
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