GD ENTERTAINMENT & TECHNOLOGY, INC. ANNOUNCES REDUCTION OF CORPORATE DEBT AND NEW FINANCING

GD ENTERTAINMENT & TECHNOLOGY, INC. ANNOUNCES REDUCTION OF CORPORATE DEBT AND NEW FINANCING

 

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 : [phone]

[e-mail]