DONINI INC NEW (OTCMKTS:DNNC) an entertainment and technology firm released a letter to its shareholders. Dong H. Chung, the CEO said that he is delighted to provide the shareholders with the operations update and communicate the vision and objectives for 2015. The company is now known as. GD Entertainment & Technology, Inc.
Chung stated that it has been almost five months since GD Entertainment took over control of DONINI. Since the merger, the management has focused on minimizing the corporate debt to less than $800,000 from almost $1.3 million. The focus is to reduce more debt through cancellation deals with the debt holders as against to further sales of the company’s debt to third entities.
DONINI has already announced its plans to convert into a fully reporting firm with a legal team to take care of the regulatory filings and guidance. This week, the company will see the results including the new name and symbol change. The management is in active talks with numerous groups related to financing requirements and expects to get definitive funding deals in place in the next three months. Further the CEO added that on the project side, there are two intellectual properties in active distribution. The company expects revenue generation to commence from 3Q2015.
The CEO added that the company commenced initial development activities of the live stage show known as Cirque du Asie. Also, the company has entered into a joint venture deal with the maker of Artificial Intelligence software application that will enable DONINI to develop and sell an English language learning solution. The management is thrilled about the future prospects, both in Asia and the U.S.
In last trading session, the stock price of DONINI surged 100% to close the trading session at $0.00020. The gains came at a massive share volume of 382.26 million compared to average daily volume of 65.64 million.