ORLANDO, Fla., March 2, 2012 /PRNewswire/ -- GDT Tek (OTC: GDTKD) today announced that it has filed current financial information through the end of December 31, 2011 on OTC Markets.
GDT Tek, Inc. also just completed 10,000 Shares for one Share capital restructure which was applied to all classes of stock, Preferred and Common stock. This restructure, which became effective on 2-29-2012, reduced the authorized to 4,000,000 shares total, of which 1,000 shares are the Preferred Series "A, B, C, D" shares.
The Company also announced yesterday that it acquired 109 acres in the city Desert Hot Springs, California; photos and aerial views of the property can be seen on the GDT Tek website at the following link: http://www.gdttek.com/DHS-project.php.
President of GDT Tek, Bo Linton, commented, "With the Company filing current financial information as of 12-31-2011 on OTC Markets, the Company can now pursue financing for the DHS, 20MW project. We will also pursue the applicable tax credits available to the Company and how best to benefit the Company through the use of those credits."
"This an exciting time for the Company and we are looking forward to beginning construction on the DHS project," concluded Mr. Linton
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About GDT Tek, Inc.:
GDT Tek, Inc. is an Orlando, Florida-based publicly traded company (OTC: GDTKD) focused on renewable and sustainable energy technologies. The company has licensed patented waste heat to electric power generation technology and is driving its adoption by power plants, landfills and other waste-heat generating industries. GDT Tek's waste heat to electricity systems are powerful enough to serve as a primary energy source, highly efficient, immediately cash-flow positive when installed under a Power Purchase Agreement and are scalable with system sizes from 150 KW/Hr to 5000 KW/Hr currently available. The GDT Tek system has been proven through a long-term five-year installation at a San Jose, California-area landfill. Waste heat captured from landfill-generated methane gas generator engine exhaust and radiator jacket coolant systems is used by the GDT Tek system to generate electricity which is then sold to the grid. Professor Robert W. Dibble of the University of California at Berkeley assessed the GDT Tek system and stated that "Of the many technologies that I have evaluated over the course of the past several decades, GDT Tek's heat to power conversion solution has proven to be the most reliable, versatile, efficient, lowest emissions, and overall cost-effective solution available in today's changing world market."
RTR Global Investments, LLC is a wholly owned subsidiary of GDT Tek, Inc. Its holds projects, contracts, and power purchase agreements for its parent company GDT Tek, Inc.
GDT Tek, Inc.'s website is www.gdttek.com, which is in the process of being updated; please sign up for our newsletter (http://www.gdttek.com/info-signup.php) for future information about the company.
Steriwave-GDT Tek LTD is a JV company with Steriwave Hungary LTD and is 50% owned subsidiary of GDT Tek. Steriwave-GDT Tek holds the ownership of the American Canyon Landfill project and has filed a patent application for a system that safely removes and captures methane hydrates from undersea reserves.
Steriwave Startec LTD core competencies are in the design and realization of industrial prototypes of devices with ultrasonic sonotrode.
Safe Harbor Statement: This release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as GDTK or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
SOURCE GDT Tek, Inc.