Digital Development Issues Bank Secured Letter of Credit
CITY OF INDUSTRY, Calif., Jun 08, 2010 (BUSINESS WIRE) -- Digital Development Partners, Inc. (OTCBB:DGDM) announced that it has issued to Ezkey Corporation a bank secured letter of credit for the manufacturing of the first shipment of the EFT Smartphone to be delivered to customers at the end of June.
EFT and Digital combined to date have invested over $2 million in the design, research and development of the new state-of-the-art phone. Digital anticipates having 50,000 phones in service over the next 8 to 12 months with a servicing fee that will range between $15.99 to $19.99 per phone per month.
Jack Qin, Chairman and CEO, stated, "We have worked extremely hard to reach this stage of manufacturing and distribution of the EFT-Smartphone. Our first goal is to place in service 20,000 phones with additional phones being placed in service as Digital servicing centers are brought online." Qin went on to say, "The over 1 million EFT registered affiliates are very loyal to the EFT brand; with pre-orders coming in we are very excited about the future success of Digital and the EFT-PDA-Smartphone."
About Digital
Digital distributes and services the EFT Mobile PDA Smartphone to EFT's base of affiliated members throughout Asia. The unique aspect of the EFT-Smartphone is that EFT affiliates will be able to speak with all other affiliates at no charge while in a Wi-Fi location utilizing VoIP technology. Another unique aspect is the additional Apps that will allow the EFT affiliate base to access all their back office sites including their Funds Management Account where the affiliate will be able to deposit funds to make purchases, withdraw and transfer money to another EFT account or to another EFT affiliate at no cost for the internal transfer. The EFT-Smartphone will have educational applications and PowerPoint presentations for recruiting and training new affiliate members anywhere in the world.
Disclaimer
This release may contain forward-looking statements. Investors are encouraged to carefully review regulatory filings prior to investment consideration. Past performance is no guarantee of future success or that there cannot be business interruption. The Company is in a rapid growth sector that may or may not continue to grow in the future and therefore poses risks that may be different than other investments. Management regularly provides news and additional information believed to be true and accurate at the time of dissemination but has no requirement to modify, comment or change in the future should circumstances change or information prove to be inaccurate for any reason. Additionally, the Company makes every effort to comply with all applicable law and regulatory concerns but cannot assure investors of any material changes outside of their best efforts. This release does not contain investment advice nor any recommendations to purchase or sell any securities. Consult with your investment professional before making any investments into any securities.
For Investor Information Please Contact Edward Carter 626-581-3335 or email at ecarter@eftb.net
