Press Release
FOR IMMEDIATE RELEASE For more information contact
Lawrence Bracco, COO of GDET
(805) 208-3171
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.
z
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