FOR IMMEDIATE RELEASE
JUNE 4TH, 2007
CHINA DIRECT RECEIVES $575,000 LOAN FROM SENIOR MANAGEMENT
COOPER CITY, FL: China Direct Trading Corp. (OTCC.OB: CHDT.OB) (CHDT) announced
today that it has received a loan for $575,000.00 from its Chairman, Howard
Ullman. The loan is to be used solely to fund the management buildup for the
companies newly announced product initiatives. CHDT intends to aggressively
build upon its current product lines with the addition of it's newly acquired
STP exclusive license for automotive and hardware products as well as other
product launches currently in development for 2008.
Terms of the loan are for two years, which repayment shall be made in calendar
quarterly interest and principal payments. The interest rate is 10.455% per
annum. Upon the lenders approval, the company may convert all or a portion of
any unpaid principal or interest into "restricted" shares (as defined in Rule
144 of the Securities Act of 1933, as amended) of common stock at a price of
0.02 per share. Any shares of Stock issued in a conversion have piggyback
registration rights.
CHDT's Strategic Plan: CHDT has been engaged for the past few months in an
ongoing process of building the Company's corporate infrastructure to better
manage the company's current and future subsidiaries. In 2007 the company has
begun adding additional consumer product lines which all require experienced
personnel to product develop, market, and ship. Management recognized the need
to build out infrastructure before taking on additional lines of product or
looking at acquisition targets.
"I have a great deal of confidence in the potential of CHDT in FY 2007 and
beyond as evidenced by my personal financing of our management buildup. We are
assembling an experienced team of consumer product specialist that can be
plugged into our system seamlessly as most of our team has worked with our CEO
over the past 20 years. These past relationships alleviate the normal learning
curves experienced during an infrastructure expansion", said Howard Ullman,
Chairman of CHDT.
