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.
SAFE HARBOR
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.
For Investor Relations information,
Contact:
investor_relations@ludwigent.com
OR
Patrick Greenish
President Ludwig Enterprises,
Inc.
786-235-9026
president@ludwigent.com
SOURCE Ludwig Enterprises, Inc.