Code:
(defun c:mt2ml ( / oobj nobj nstrg)
(vl-load-com)
(setq oobj (vlax-ename->vla-object (car (nentsel "\nSelect source text: "))))
(if (= (vlax-get-property oobj 'ObjectName) "AcDbMText")
(setq nstrg (vlax-get-property oobj 'TextString))
(exit)
)
(command "_MLEADER")
(while (= 1 (logand (getvar "CMDACTIVE") 1)) (command PAUSE))
(setq nobj (vlax-ename->vla-object (entlast)))
(if (= (vlax-get-property nobj 'ObjectName) "AcDbMLeader")
(vlax-put-property nobj 'TextString nstrg)
(exit)
)
(entdel (vlax-vla-object->ename oobj))
(princ)
)