GD Entertainment and Technology, Inc. Issues Shares to Team with
50+ Years of Management Expertise
Agoura Hills, CA -- September 18, 2015 -- InvestorsHub
NewsWire -- GD Entertainment & Technology, Inc. ("GDET")
("the Company") (OTC Markets: GDET), a leading entertainment and
technology company today announced that it completed a new share
issuance to its highly skilled and succesful management team.
The Company issued an aggregate of 700,000,000 restricted common
shares of the Company to key Executives and Officers of the
Company.
GDET is led by industry veterans Dong Chung and Lawrence Bracco,
who bring more than 50 combined years of leadership experience in
the family media and entertainment industries to the Company. Mr.
Chung was one of the early creators of co-production relationships
in Korea and has received various awards in recognition of his
contribution to the animation industry.
Mr. Bracco has won multiple Platinum Sales Awards from the
Record Industry Association of America (RIAA), and led another
company to several accolades in the toy and childrens
industries.
Both executives are widely respected for their industry
experience and knowledge and have served on senior positions in
successful companies. Another key executive, James Lau, has a
strong track record of success in both the technology and
entertainment sectors.
The Board has determined that it is in the best interests of the
Company and its stockholders to assure that the Company will have
the continued dedication of Mr. Chung and Mr. Bracco, along with
the other Board members and executive officers.
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The Board believes that it is imperative to provide with
sufficient compensation in order to keep them properly
incentivized.
Dong Chung, CEO of GDET stated, "It is important for us to keep
our management team intact and motivated for long term success. We
also want our shareholders to know that we are committed and
focused on the growth of our company.
We continue to grow our business, with the release of The Son
graphic novel in North America and Europe and other projects, added
Lawrence Bracco, COO of GDET. We continue to reduce our debt and
improve our balance sheet, and are happy to be able to maintain a
firm hand on the growth of the company.
With this share issuance, the GDET management team continues to
be the Company's largest shareholder as a group, with a combined
stake of approximately 92%. The shares issued to GDET management
are subject to a 12-month lock-up period.
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. Its acclaimed graphic novel, The Son, is now being
distributed in North America and Europe. GDET also 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