GD ENTERTAINMENT & TECHNOLOGY, INC. ANNOUNCES REDUCTION OF
CORPORATE DEBT AND NEW FINANCING
AGOURA, CA – January 26, 2015 – GD Entertainment &
Technology, Inc. (formerly Donini Inc. (OTC Markets:
DNNC), a leading entertainment and technology company
specializing in the development and production of entertainment
properties and technologies worldwide, today announced plans
to reduce its corporate principal debt outstanding by approximately
$800,000, while simultaneously receiving new funding from
selected private investors.
Over the past 3 months, the Company has been successful in
reducing its debt by almost $200,000 and anticipates further debt
reductions well into its 3rd and 4thquarters.
Dong Chung, CEO of GDET stated, "We have taken a number of
actions to reduce our debt position and improve liquidity. Our
ability to renegotiate notes and reduce our debt is a strong
indication of our investors’ belief in our fiscal discipline and
new business focus. These improvements are geared to solidly
position us for sustained investment and improved profitability in
the long run.”
In addition, the Company is in advanced talks with selected
private investors to raise up to $500,000 in Preferred Series B
subscriptions. The proposed investment is intended to create
the capital structure necessary for the Company to develop, produce
and distribute its unique intellectual properties and to expand its
distribution plans.
Lawrence Bracco, COO of GDET, stated “We are committed to taking
the necessary steps to build long term value for our
shareholders. Reducing our debt and raising new capital is a
significant part of our overall plans to grow the
company.”
About GD Entertainment & Technology, Inc.:
GDET specializes in the development, production and exploitation
of entertainment properties and technologies worldwide. Over the
past 10 years, GDET and its management have created, produced,
and/or distributed a variety of family-friendly content, including:
Conan the Barbarian animated DVD, animated Voyages of Young Dr.
Doolittle and Adventures of Odyssey and the acclaimed graphic novel
series, The Almighty Bible, an ebook & print version of the
Bible for teenagers. GDET principals have over 80 years of combined
experience in producing and distributing media, consulting to and
licensing major intellectual properties globally, including Warner
Brothers, Marvel/Disney, and Mommy & Me. Management has
been conducting business in Asia for more than 25 years, and has
significant relationships with major corporations, investors and
production facilities in Korea, Thailand, China, Japan and other
markets. GDET has several projects in development including an
animated feature film, a live stage show and an adaptation of a
successful juvenile book series for digital video and mobile
games.
Information in this document constitute forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The words "forecast,"
"estimate," "project," "intend," "expect," "should," "believe," and
similar expressions are intended to identify forward-looking
statements. These statements involve, and are subject to known and
unknown risks, uncertainties and other factors which could cause GD
Entertainment & Technology, Inc. actual results, performance
(financial or operating) or achievements to differ from the future
results, performance (financial or operating) or achievements
expressed or implied by such forward-looking statements. The risks,
uncertainties and other factors are more fully discussed in GD
Entertainment & Technology, Inc. filings and Disclosures. All
forward-looking statements attributable to GD Entertainment &
Technology, Inc. herein are expressly qualified in their entirety
by the above-mentioned cautionary statement. GD Entertainment &
Technology, Inc. disclaims any obligation to update forward-looking
statements contained in this estimate, except as may be required by
law.
Company Contact:
Lawrence Bracco
Tel : (818) 338-5723
larry@gdetinc.com