LAS VEGAS, July 5, 2005 (PRIMEZONE) -- Debit Cash Card, LLC, a subsidiary of Global Debit Cash Card, Inc. (Pink Sheets:GBCD), has signed a binding Letter of Intent with Hot TV Network, Inc. (www.hottvnetwork.com) to provide a private-label debit card featuring Hot TV's name and logo on the card.
The formal agreement, which should be completed and executed within the next two weeks, is part of Hot TV's aggressive marketing push to signal its roll out on August 1, 2005. The 24-hour-a-day satellite network will feature music videos, urban films, news, and interviews for the already large and growing worldwide hip-hop lifestyle audience.
According to Arnold F. Sock, president of Debit Cash Card's parent company, Global Debit Cash Card, Inc., "This agreement is an ideal fit that should strongly benefit both companies. We view this deal with Hot TV Network as an important start to our market penetration program. As an added benefit, it should also provide extensive exposure for Debit Cash Card and its parent company."
Kenta Rooks, president of Hot TV Networks, Inc, sees the Hot TV Debit Card as a very desirable item for the network's target market. "It will allow our viewers to identify themselves as members of the hip-hop lifestyle, giving them a readily usable product that proudly identifies them as Hot TV aficionados. We are very excited to work with Global Debit Cash Card on this program, and we have high expectations from our working together," said Rooks.
"We've structured a plan with Hot TV that would give both companies strong financial benefits from the sale of the Hot TV Debit Cards and from their use," added Sock.
The Hot TV Debit Card will be advertised on the network throughout the broadcast day and will be offered in conjunction with other Hot TV promotions. Card services have been contracted by Debit Cash Card through its providers.
For more information on Global Debit Cash Card, Inc. and its subsidiaries, visit www.gldcc.com.
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