The company is planning a film studio on 1,500 acres at
Shapiro said the charters of some companies prohibit the purchase of stocks below a certain price, and that has kept Medient off the radar for some investors.
An increased price can draw more investors and also allow the company's stock to be traded on a big-board exchange.
Medient has been traded over-the-counter as a penny stock. Penny stocks are not traded on the more traditional exchanges.
The stock is being traded again over-the-counter and on Wednesday
was valued at
The name change, to
The name change also bridges "Old Hollywood and the region, Shapiro said.
"It's inspired by
Shapiro said the area's connection with Moon River, the song by Savannah native
Shapiro recently presented what he called more efficient plans for the
The latest plans put more emphasis on the basics of film production and less on whimsical elements such as a bridge over wetlands, solar trees and a glass "leaf" over an outdoor pavilion that were part of the original plans.
But the later phases still include two hotels, a lake, baseball fields, soccer fields, tennis courts and a 20,000-seat amphitheater.
The company was a year behind on its development schedule as of July. It is through the first year of its two-year construction period before its first rent payment on the IDA land comes due.
A revised agreement with the company and the IDA would set up a new schedule of when certain things must be completed.
The change notifications will be filed with the
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