Game Trading Technologies
(PublicWire.com Press Release) — Game Trading Technologies, Inc. (OTC Bulletin Board: GMTD, the “Company”), a leading game trading services provider focused on technology, supply and services in the fast growing, pre-owned video game market, announced that its wholly-owned subsidiary, Gamers Factory, Inc. (the “Borrower”) has entered into a Loan Agreement (“Loan Agreement”) with Bank of America, N.A. The Loan Agreement provides for a revolving line of credit to the Borrower equal to the lesser of (i) $2,500,000 or the sum of a (a) 75% of the balance due on acceptable receivables and (b) the lesser of $1,000,000 or 20% of the value of acceptable inventory.
For additional information and definitions of terms, please review the Company’s recently filed 8-K regarding the Loan Agreement, which can be found by visiting www.sec.gov or the Company’s web site at www.gtti.com.
About Game Trading Technologies, Inc.
Founded in 2003 and headquartered in Hunt Valley, MD, Game Trading Technologies, Inc. is a leading video game trading services provider focused on valuation, procurement, refurbishment, and redistribution of pre-owned video games. Game Trading Technologies, Inc. currently offers unique services, supported by innovative technologies to an array of national firms, allowing them to better serve customers who want to trade their games for store credit or purchase pre-owned games. The foundation of most of these relationships is Game Trading Technologies, Inc.’s proprietary game trading database, which updates values on more than 10,000 video games and consoles on a daily basis according to market conditions. Game Trading Technologies, Inc. shares are traded on the OTCBB under the symbol ‘GMTD’. Additional information is available within Company’s website at www.gtti.com or by calling (877) 631-GAME (4263).
Forward Looking Statements
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Game Trading Technologies’ current expectations about its future results, performance, prospects and opportunities. Game Trading Technologies has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “hope,” or similar expressions. These forward-looking statements are based on information currently available to Game Trading Technologies and are subject to a number of risks, uncertainties and other factors that could cause Game Trading Technologies’ actual results, performance, prospects or opportunities during the remainder of 2010 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks are referenced in Game Trading Technologies’ current report on Form 8-K, which may be found at www.sec.gov or as may be described from time to time in Game Trading Technologies’ subsequent SEC filings.
Game Trading Technologies, Inc.
Contact: Jody Janson
Tel: (877) 631-GAME (4263)