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Gd Entertainment & Technology, Inc.
Rebrand, Reverse, Revitalize GD Entertainment & Technology rebrands itself with name/symbol change and affects reverse stock split
Published Jun 24 2015
4 min read

Rebrand, Reverse, Revitalize GD Entertainment & Technology rebrands itself with name/symbol change and affects reverse stock split

Press Release

FOR IMMEDIATE RELEASE For more information contact

Lawrence Bracco, COO of GDET

(805) 208-3171

larrybracco@gdetinc.com

 

Rebrand, Reverse, Revitalize

GD Entertainment & Technology rebrands itself with name/symbol change and affects reverse stock split

 

(Agoura Hills, CA, June 24thh, 2015) Big things are afoot at a leading California entertainment and tech co., after an aggressive rebranding and revitalization campaign coincides with the Company affecting a reverse stock split.    GD Entertainment & Technology, Inc. (OTC: GDET) has undergone significant improvements over the last quarter, allowing the Company to both revitalize it's brand and greatly strengthen it's position in the marketplace.

 

"We're placed very precisely, in terms of our long term stability and growth," says COO

Lawrence Bracco. "By combining a deliberate and carefully crafted approach to expansion, as evidenced by our reverse stock split, with our new name and symbol, GDET is poised to enter the next quarter very strongly."

 

"In addition, the fusion of our robust corporate structure and an excellent management team creates an atmosphere whereby existing shareholders and new investors alike will find GDET highly attractive and rewarding in the coming term," adds Bracco.

 

Formerly known as Donini Inc. (DNNC), GDET announces that it has affected a reverse split through a corporate action that was authorized by the majority shareholders and board of directors.

 

At the effective time of the reverse stock split, DNNC's issued and outstanding shares of

common stock decreases to approximately 300,000 post-split shares from approximately 3

billion pre-split shares. As a result of the reverse stock split, every 10,000 shares of common stock held by each shareholder will automatically be converted into one (1) common stock.  No fractional shares will be issued in connection with the reverse stock split and the par value remains unchanged.  All fractional shares will be rounded up. Shareholders holding stock certificates may contact the Company’s transfer agent, Olde Monmouth Transfer Co. for details on how to exchange for new stock certificates.

 

GD Entertainment & Technology, Inc.'s common stock traded under the symbol "DNNCD" for a mandated 20 business days per standard FINRA procedure prior to changing to its new symbol “GDET”. In addition, the Company's common stock will trade under a new CUSIP number 36830V101.

 

"We are pleased at the progress we have made over the past 6 months since our merger," said Dong H. Chung, CEO. "We believe that we have positioned the company for long term stability and growth and appreciate those investors who share our vision. We look forward to becoming fully reporting over the next quarter."

 

Recapitalization Plan

As part of its recapitalization plan, the Company will be offering current note holders of the

Company's current outstanding debt the option to convert the principle amount of their notes and any accrued interest into shares of the Company's common stock. The conversion(s) will allow the Company to strengthen its balance sheet in order to attract additional capital to fund the Company's commercialization efforts and up-list the Company's common stock onto the OTCQB. Over $500,000 of the Company's debt has already been converted or retired.

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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.

 

Safe Harbor Statement

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain.  Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.

For more information please contact:

Lawrence Bracco, COO of GDET

(805) 208-3171                    larrybracco@gdetinc.com