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GD ENTERTAINMENT & TECHNOLOGY, INC. (GDET) and WOWIO (WWIO) Provide Expanded Details On Joint Venture & Stock Swap; Announces Joint Korean Trip
GD ENTERTAINMENT & TECHNOLOGY, INC. (GDET) and WOWIO (WWIO) Provide Expanded Details On Joint Venture & Stock Swap; Announces Joint Korean Trip.
About this update from Gd Entertainment & Technology, Inc.
[{"type":"text","content":"GD Entertainment & Technology, Inc. (OTC Markets: GDET) and Wowio, Inc. (OTC Markets: WWIO) today released further details regarding their September 23, 2015 Joint Venture and Stock Swap. The GDET/WWIO JV calls for a stock swap that amounts to 15% of each other’s Preferred Shares, weighted for current value, as well as a licensing agreement for the Wowio eBook advertising platform for Asia. \n \n“We are pleased to be moving forward together with GDET,” indicated Robert Estareja, CEO for Wowio. “By exchanging our shares for equal value, it signals our mutual commitment to pursue our Korean plans while enhancing our value for both companies’ shareholders.”\n \nGDET plans to manage the completion of the Wowio mobile app in Korea, with one of its technology partners, as well as customize the platform to provide Korean users an engaging way to improve their English language learning while watching Wowio-provided comics and graphic novels. This innovative learning tool will be provided to potentially 40+ million Koreans free of charge, with advertising served up using Wowio’s patented technology. \n \nThe market for digital English language learning programs in Asia is expected to hit nearly $2 billion in 2018, according to a 2014 Ambient Insight report. Last year, Korean families alone spent more than $8 billion on English language learning programs not provided in traditional school environments. \n \n“The market for English language learning in Asia, especially Korea, is at an all-time high and growing,” explained Dong Chung, CEO for GDET. “Our relationships in the Korean market are anxious to participate in a new platform that will allow the everyday consumer a free or low cost way to enhance their English learning.” Chung expects the new platform to be ready for deployment in the Korean market by mid-2016, with revenues beginning immediately due to key sponsorship sales. \n \nGDET and Wowio executives are planning a joint trip to Seoul in October to finalize its business and technology relationships, including the selection of inaugural sponsors for this unique English language learning tool.\n \n \nAbout GD Entertainment & Technology, Inc.: \nGDET specializes in the development, production and exploitation of media ...