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Ludwig Enterprises Announces $8,000,000 Technology License With Haitian American Broadcasting Corporation
Jun 26, 2012 (04:06 PM EDT)
POMPANO BEACH, Fla., June 26, 2012 /PRNewswire/ -- Ludwig Enterprises, Inc. (LUDG:OTC) Board of Directors announces a 5 year renewable agreement with Haitian American Broadcasting Corporation (HAMBC) to license Ludwig technology for deployment in Dominican Republic, El Salvador, Honduras, Puerto Rico, US Virgin Islands, Bermuda and Bahamas.
HAMBC has agreed to purchase licensing rights for a five-year renewable term for $8,000,000. The licensing agreement is for the patented technology owned by Ludwig for transmission of 50 audio channels over new digital TV networks as digital technologies are deployed in each region. Over 28 million persons live within the licensed area. Licensing fees are due according to a schedule dependent on activations and agreed benchmarks.
According to Patrick Greenish, CEO of Ludwig Enterprises "this five-year licensing agreement supports our U.S. deployment of "The One" ™ radios to the first 1,250,000 U.S. subscribers. The Global Marketplace is embracing Ludwig's technology and we intend to operate in the global arena."
About Haitian American Broadcasting Corporation
Haitian American Broadcasting Corporation (HAMBC) is a US based entity working in collaboration with WAVS 1170 AM Miami radio featuring Caribbean programming and WSRF 1580 AM radio Miami (Little Haiti) Florida. WSRF is the "First and only Haitian-owned radio station in the Nation".
About Ludwig Enterprises, Inc.
Ludwig Enterprises, Inc., (LUDG:OTC), is a Nevada based technology company with regional offices in Pompano Beach, Florida. LUDG has patented a revolutionary new method of radio broadcasting over unused digital television spectrum. This technology attaches fifty new digital radio channels to an existing digital television broadcast signal.
Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made by Ludwig Enterprises, Inc. are not a guarantee of future performance. This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Ludwig Enterprises, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition.
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