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ITEM 1.01 ENTRY INTO A MATERIALLY DEFINITIVE AGREEMENT
On November 26, 2012, Medient Studios, Inc. (the Company), a Nevada corporation, entered into a purchase and sale agreement with the owners of all the membership interests of Kumaran Holding, LLC., an Oklahoma limited liability company, to purchase all of the membership interests of Kumaran Holdings, LLC.
The Company purchased all the membership interests of Kumaran Holding, LLC for a purchase price of thirteen million seventy eight thousand dollars ($13,078,000). This will be paid in the form of ten million (10,000,000) preferred shares and twenty six million (26,000,000) common shares of Medient Studios, Inc. This deal closed on November 26, 2012.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
10 Purchase and Sale agreement between Medient Studios, Inc. and the owners of all membership interests of Kumaran Holding, LLC., dated November 26, 2012
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
Medient Studios, Inc.
By: /s/ Manu Kumaran
Chief Executive Officer