Get $1.2 million for your script

If you are an aspiring scriptwriter, you might want to check this. Tecyhlon, an independent film production company, is asking screen writers for ‘The Sacred Script.’ What’s the catch? None, only you getting $1.2 million to make it. No, there’s not even a submission fee — this is starting to sound like I’m selling you something.
All you have to do is submit 1000-word synopsis at www.thesacredscript.com. Three stories will be chosen and posted (as a small script) on their site to vote on — I wonder if that’s going to be hack-proof.
The cash will be shelled out by Quadritex, a nano-technology company that funds many other projects to ‘produce economic, social and environmental benefits.’ A ‘breakthrough’ nano-optical film camera will be used to shoot the movie. And when the movie is making money, it will be split 50/50 with the scriptwriter.
Something isn’t right here, I can just feel it. Just read the FAQ and check their sites. Like they say they are getting 1000 submission per day, while they just sent out a Press Release. To be continued I guess.
I also heard about this and thought it may be not legit.
However I did a little research and there is information on several independent film sites about the contest it appears that they have been collecting submissions for about 6 months. Also what have you got to loose? Nothing.
Brian