EX-99
3
ex991.txt
Press Release
Global Realty Development Corp. Completes The Acquisition
of Majority Interest in the TFM Group
TFM Launches Television, Film & Music Production Divisions
CORAL SPRINGS, Fla.--(BUSINESS WIRE)--October 10, 2006--Global Realty
Development Corp. (OTCBB: GRLY - News), today announced that it has acquired a
51% interest in the TFM Group, ("TFM"). TFM, which will have a seasoned
management team of entertainment executives in the television, film and music
industries, has been formed to develop a reality show called, "Recreating A
Legend" Los Ultimos Heroes for the past two years. The show shall be a music
based reality show, featuring members of the former group Menudo, which is
expected to span three continents and deliver multiple revenue streams including
the standard advertising, product placement and sponsorship participation, as
well as a new CD release and the intended launch of a World Tour and worldwide
merchandising campaign. Roy A. Sciacca, Managing Partner of TFM stated "our
group is focused on the emerging Latin Markets. We believe that a significant
opportunity exists by developing a project based upon the world of Menudo, the
most successful boy band of all time".
Commenting further, Mr. Sciacca stated, "Our initial project "Recreating A
Legend" is expected to be the launch of the first ever "World Cup Style Music
Television" reality show, which is intended to serve as the basis for creating
an international competition. This competition is expected to span three
continents and be a fierce showdown during the 13 episodes that are anticipated
to be produced. Nations will vie for the top coveted spot. We believe that our
SMS text message component will be the first ever to span a world wide
multi-carrier voting campaign. The final winner will become the newest member of
the international music sensation; Los Ultimos Heroes (the Ultimate Menudo
Generation).TFM is currently entertaining numerous offers from major television
networks from around the globe for distribution of "Recreating A Legend". The
fall of 2007 will reveal the newest member of the Latin music sensation, Los
Ultimos Heroes. We believe that creating our own distinctive brand is the key
driver that will fuel our unique and enduring entertainment and marketing
ventures."
Robert Kohn, Global Realty's CEO commented "We are elated by this latest
acquisition which will allow us to pursue our objective of increasing our
presence in the television, film and music industries. We believe we are
building a presence in this space that will create significant long term value
for our shareholders "
Global Realty's consideration consists of the issuance of 6,000,000 shares of
restricted stock of Global and 3,000,0000 warrants allowing the Partners of TFM
to purchase restricted shares of Global for $1.00 per share. Additionally, a
performance based equity compensation package has been agreed upon for the
founders and/or key contributors to TFM. The original partners of TFM have
agreed to loan the Company $1.5 million to fund the initial operations of TFM .
About Global Realty Development Corp.
Global Realty Development Corp. is an international land development company
operating through various real estate development subsidiaries. The Company is
primarily engaged in the acquisition and development of real estate in
Australia. Global previously acquired MJD Films and is now focused on pursuing
opportunities in the entertainment industry.
Investors are cautioned that certain statements contained in this document as
well as some statements in periodic press releases and some oral statements of
GLOBAL officials are "Forward-Looking Statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking
statements include statements which are predictive in nature, which depend upon
or refer to future events or conditions, which include words such as "believes,"
"anticipates", "intends", "plans", "expects", and similar expressions. In
addition, any statements concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business strategies or
prospects, and possible future GLOBAL actions, which may be provided by
management, are also forward-looking statements as defined by the Act.
Forward-looking statements involve known and unknown risks, uncertainties, and
other factors which may cause the actual results, performance or achievements of
the Company to materially differ from any future results, performance, or
achievements expressed or implied by such forward-looking statements and to vary
significantly from reporting period to reporting period. Although management
believes that the assumptions made and expectations reflected in the
forward-looking statements are reasonable, there is no assurance that the
underlying assumptions will, in fact, prove to be correct or that actual future
results will not be different from the expectations expressed in this report.
These statements are not guarantees of future performance and GLOBAL has no
specific intention to update these statements.
Contact:
Redwood Consultants, LLC
Jens Dalsgaard, 415-884-0348
InvestorInfo@RedwoodConsultants.com

EX - 99 3 ex991 . txt Press Release Global Realty Development Corp . Completes The Acquisition of Majority Interest in the TFM Group TFM Launches Television , Film & Music Production Divisions CORAL SPRINGS , Fla . -- ( BUSINESS WIRE ) -- October 10 , 2006 -- Global Realty Development Corp . ( OTCBB : GRLY - News ) , today announced that it has acquired a 51 % interest in the TFM Group , ( " TFM " ) . TFM , which will have a seasoned management team of entertainment executives in the television , film and music industries , has been formed to develop a reality show called , " Recreating A Legend " Los Ultimos Heroes for the past two years . The show shall be a music based reality show , featuring members of the former group Menudo , which is expected to span three continents and deliver multiple revenue streams including the standard advertising , product placement and sponsorship participation , as well as a new CD release and the intended launch of a World Tour and worldwide merchandising campaign . Roy A . Sciacca , Managing Partner of TFM stated " our group is focused on the emerging Latin Markets . We believe that a significant opportunity exists by developing a project based upon the world of Menudo , the most successful boy band of all time " . Commenting further , Mr . Sciacca stated , " Our initial project " Recreating A Legend " is expected to be the launch of the first ever " World Cup Style Music Television " reality show , which is intended to serve as the basis for creating an international competition . This competition is expected to span three continents and be a fierce showdown during the 13 episodes that are anticipated to be produced . Nations will vie for the top coveted spot . We believe that our SMS text message component will be the first ever to span a world wide multi - carrier voting campaign . The final winner will become the newest member of the international music sensation ; Los Ultimos Heroes ( the Ultimate Menudo Generation ) . TFM is currently entertaining numerous offers from major television networks from around the globe for distribution of " Recreating A Legend " . The fall of 2007 will reveal the newest member of the Latin music sensation , Los Ultimos Heroes . We believe that creating our own distinctive brand is the key driver that will fuel our unique and enduring entertainment and marketing ventures . " Robert Kohn , Global Realty 's CEO commented " We are elated by this latest acquisition which will allow us to pursue our objective of increasing our presence in the television , film and music industries . We believe we are building a presence in this space that will create significant long term value for our shareholders " Global Realty 's consideration consists of the issuance of 6,000,000 shares of restricted stock of Global and 3,000 , 0000 warrants allowing the Partners of TFM to purchase restricted shares of Global for $ 1.00 per share . Additionally , a performance based equity compensation package has been agreed upon for the founders and / or key contributors to TFM . The original partners of TFM have agreed to loan the Company $ 1.5 million to fund the initial operations of TFM . About Global Realty Development Corp . Global Realty Development Corp . is an international land development company operating through various real estate development subsidiaries . The Company is primarily engaged in the acquisition and development of real estate in Australia . Global previously acquired MJD Films and is now focused on pursuing opportunities in the entertainment industry . Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of GLOBAL officials are " Forward - Looking Statements " within the meaning of the Private Securities Litigation Reform Act of 1995 ( the " Act " ) . Forward - looking statements include statements which are predictive in nature , which depend upon or refer to future events or conditions , which include words such as " believes , " " anticipates " , " intends " , " plans " , " expects " , and similar expressions . In addition , any statements concerning future financial performance ( including future revenues , earnings or growth rates ) , ongoing business strategies or prospects , and possible future GLOBAL actions , which may be provided by management , are also forward - looking statements as defined by the Act . Forward - looking statements involve known and unknown risks , uncertainties , and other factors which may cause the actual results , performance or achievements of the Company to materially differ from any future results , performance , or achievements expressed or implied by such forward - looking statements and to vary significantly from reporting period to reporting period . Although management believes that the assumptions made and expectations reflected in the forward - looking statements are reasonable , there is no assurance that the underlying assumptions will , in fact , prove to be correct or that actual future results will not be different from the expectations expressed in this report . These statements are not guarantees of future performance and GLOBAL has no specific intention to update these statements . Contact : Redwood Consultants , LLC Jens Dalsgaard , 415 - 884 - 0348 InvestorInfo@RedwoodConsultants.com