GD Entertainment & Technology, Inc. which was formerly known as DONINI INC NEW (OTCMKTS:DNNC) disclosed that its CEO Dong H. Chung will visit Korea to conclude a series of meetings on ongoing talks pertaining to a potential strategic acquisition or merger. These meetings are stated as the next initiatives in a dialogue that started nearly a year ago. The company is in a better position to pursue its strategic goals in Asia, and there can be significant announcement coming as a result of business trip.
The first task on the list of the company’s CEO is engaging of a known and experienced investment banker. Then it will be followed by series of meetings with numerous production and animation studios. The CEO will also be meeting several investor entities including institutional and private equity funds. DONINI has numerous projects in development and as per the report they can either be co-produced in Korea or can be introduced first in Korea.
Letter to shareholders
In a letter to its shareholders, the CEO of DONINI provided operations update and highlighted the vision and objectives for the current year. He stated that it has been more than five months since the company took over DONINI. Since then, the focus has remained primarily on bringing down corporate debt to less than $800,000. As of now the debt stands at over $1.3 million. The company can go for cancellation deals with existing debt holders.
DONINI announced its intentions to become a fully reporting firm that will also hire a legal team for managing regulatory filings tasks. This week, the company will get the new name as well as a new ticker symbol. In last trading session, the stock price of DONINI consolidated and closed flat at $0.00010. The traded share volume was 323.89 million compared to average volume of 78.55 million.