$GDET FORT LEE, NJ -- October 15, 2019 -- InvestorsHub NewsWire -- GD Entertainment and Technology (OTC: GDET) (“GDET” or the “Company”), an emerging leader in the CBD, Blockchain, and Luxury Retail markets, is pleased to report that the Company has reduced its outstanding share count by 200 million shares through returning to treasury shares originally created as back-pay compensation for the Company’s CEO, Anil Idnani.
Mr. Idnani commented, “I believe I will ultimately be best compensated by growing confidence from current and prospective investors, which is most likely to result, in part, from this Company doing anything and everything we can to demonstrate to the market our absolute commitment to a shareholder-friendly path as we begin to replace hope and promise with tangible sales growth and game-changing partnerships in the weeks and months ahead.”
Management notes that the Company, through its wholly-owned subsidiary, The Greenery (thegreeneryco.com), has successfully cultivated a large and fully paid-for inventory of premium quality CBD-based products targeting a diverse consumer demographic spanning from active lifestyle to pet care. The Company will soon be releasing details about its aggressive distribution strategy to monetize this inventory and amplify brand awareness.
In addition, following the Company’s successful negotiation of a new long-term contract with electricity providers, including new rates set to lower annual all-in production costs for its cryptocurrency mining farm as much as 41%, GDET is in position to make a number of exciting announcements as part of a planned debt-free expansion of its Blockchain segment.
“We are riding a wave of extraordinary momentum on the operational side right now, and we have a number of extremely powerful catalysts set to roll out over the coming weeks,” continued Mr. Idnani. “But our first task is to reinforce to the market our total commitment to generating long-term shareholder value in a credible and robust way. Returning these shares to treasury to lighten the load is just the start of that process as well.”
GDET shareholders can expect new updates very soon as the Company continues to execute an aggressive phase of operational development and expansion.
