Aug. 28, 2009 (GlobeNewswire) --
MIAMI, Aug. 28, 2009 (GLOBE NEWSWIRE) -- Dolphin Digital Media, Inc. (OTCBB:DPDM) (http://www.dolphindigitalmedia.com), a creator of secure social networking websites for children utilizing state-of the-art fingerprint identification technology, announces the departure of former president, Pino Giuseppe Baldassarre, from the company.
As previously disclosed in March 2009, Pino Baldassarre stepped down after two years of helping to build Dolphin Digital Media (formerly Logica Holdings) from a start-up enterprise to a leading developer of Internet safety technology operating in the entertainment, digital media, and e-commerce sectors. Pino Baldassarre, a specialist in technology startup companies, worked to oversee the merger of the two companies, and the completion of the merger created a practical transition point for new management.
"I believe this was an ideal time to transfer executive management responsibilities to a new chief executive with broad entertainment and digital media management experience and the ability to take Dolphin Digital Media to new levels of success. We weathered the economic downturn and emerged in a strong position to seize a number of great opportunities. I feel confident that I am leaving at a time when Dolphin Digital Media is strong, healthy and poised for growth," said Pino Baldassarre.
"Pino was instrumental to the formation of Logica Holdings, the predecessor company to Dolphin Digital Media," said Bill O'Dowd, Chief Executive Officer of Dolphin Digital Media, Inc. "We wish Pino the best of luck in his future endeavors," O'Dowd said.
ABOUT DOLPHIN DIGITAL MEDIA, INC.
Dolphin Digital Media, Inc. (http://www.dolphindigitalmedia.com) creates and manages social networking websites for children utilizing state-of the-art fingerprint identification technology. As a leading developer of Internet safety technology operating in the entertainment, digital media, and e-commerce sectors, there is a focus on the growing global market for social networking, downloadable entertainment content and branded merchandise sales. For more information, please visit http://www.dolphindigitalmedia.com.
SAFE HARBOR STATEMENT
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995h, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-KSB and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.
CONTACT: Dolphin Digital Media, Inc.
Megan Ellstrom
(305) 774-0407
megan@dolphindigitalmedia.com
RedChip Companies, Inc.
Investor Relations:
Jon Cunningham
(800) 733-2447, Ext. 107
info@redchip.com
www.RedChip.com
