SOURCE: CHDT Corporation

August 21, 2007 07:15 ET

CHDT Corp. Retires Insider Notes for $300,000

DEERFIELD BEACH, FL--(Marketwire - August 21, 2007) - CHDT Corporation, a Florida corporation (formerly "China Direct Trading Corp.") (OTCBB: CHDO) (CHDT) announced today that it has reached an agreement with Howard Ullman, Chairman of the Board of Directors of CHDT, to issue "restricted" shares of Common Stock to retire two promissory notes held by Mr. Ullman for $300,000 loaned to CHDT in 2006.

CHDT and Mr. Ullman agreed to the pay off the two promissory notes, one for $250,000 principal amount and the other for $50,000 principal amount, in order to eliminate the insider debt from the CHDT financials and preserve available cash that would have been used to service these two promissory notes for working capital, including the September 2007 launch of the STP-branded consumer products.

The conversion of the promissory notes was based on $0.09 per share for the $250,000 principal amount promissory note, dated June 29, 2006, and $0.02 per share for the $50,000 principal amount promissory note, dated August 19th, 2007. Based on said conversion rates, Mr. Ullman will be issued 2,804,947 "restricted" shares of CHDT Common Stock and 2,500,000 "restricted" shares of CHDT Common Stock, respectively, in the next 10 days for pay-off of the entire principal and interest due under said promissory notes.

About: CHDT Corporation ( is a holding company engaged through its operating subsidiaries in the following business lines: Capstone Industries, Inc. ( is engaged in product development, manufacturing, distribution, logistics and product placement to importers, theme parks, and mass retail of souvenirs, gifts, and consumer products. Overseas Building Supply (OBS) is engaged in distribution of building materials including but not limited to roof tiles, interior doors, and insulation materials. Any reference to URLs does not incorporate the contents of those URLs into this press release or any SEC filing containing or referencing this press release.

FORWARD-LOOKING STATEMENTS: This press release, including the financial information herein, contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. These statements are based on the Company's and its subsidiaries' current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. CHDT undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. You should consider the risk factors set forth in CHDT's current and future filings with the SEC when reading this Press Release.

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