GD Entertainment & Technology, Inc. (formerly Donini Inc.) (OTC Markets: GDET), a leading entertainment and technology company, is pleased to announce that it has entered into a series of financing agreements with Saulomon Capital (“Saulomon”), a leading New York based investment fund.
Saulomon recently provided a direct investment into GDET, in the form of a 12 month convertible note, as well as assuming a portion of GDET’s debt. These transactions not only provided GDET with necessary working capital, but also served to improve its balance sheet.
"We are thrilled to partner with GD Entertainment & Technology while enhancing their balance sheet, increasing shareholder value, and providing advice on business plan execution," said Ahmed E. Sheikh, Managing Partner of Saulomon. “We believe GDET has a strong base of projects in their development pipeline that will bear fruit for years to come, and feel the GDET management team can execute on its business plans.”
Lawrence Bracco, COO of GDET commented, “It was a pleasure working the Saulomon team. They were very responsive to our financing needs, and understood our desire to strengthen the balance sheet and create shareholder value for the long run.”
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: (805) 208-3171