$LUDG Put on WATCH!! Huge $8M News released in A
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$LUDG Put on WATCH!! Huge $8M News released in A/H tonight!
Ludwig Enterprises Announces $8,000,000 Technology License With Haitian American Broadcasting Corporation
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."
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