AGOURA, CA -- April 01, 2015 -- InvestorsHub NewsWire
-- GD Entertainment & Technology, Inc. (formerly Donini
Inc.) (OTC Markets: DNNC), a leading entertainment and technology
company, is pleased to announce that it has entered into a
series of financing agreements with Blackbridge Capital LLC
(“Blackbridge”), a leading New York based hedge fund.
Proceeds from the short-term bridge loan will be used towards an
advance payment for development and production services on a
documentary film project. Additionally, over the past 3 months,
Company has been successful in reducing its debt obligations by
almost $200,000 through various negotiated settlements with
Blackbridge and other private investors. The Company is also
currently in negotiations with its long term noteholders to cancel
or negotiate out of over $855,000 in loans and convertible
notes. If successful, the result is a reduction in the
potential dilution to the Company’s existing shareholders.
Dong Chung, CEO of GDET stated, "We are pleased to work with the
Blackbridge team as we transition the company from media
development into production and distribution mode. Blackbridge has
been a key partner in helping us reduce our debt.”
Lawrence Bracco, COO of GDET commented, “We believe it is
important to demonstrate how the actions of our management team
over the last five months have positioned the Company in a more
positive strategic direction. We will continue to strive to
strengthen the balance sheet and create shareholder value in the
long run.”
"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 Alexander Dillon, Co-Founder and Managing Partner
of Blackbridge Capital. “We believe the GDET management has a
strong base of projects in their development pipeline that will
bear fruit for years to come.”
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
larrybracco@gdetinc.com
