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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
