POMPANO BEACH, Fla.,
June 29, 2012 /PRNewswire/
-- Ludwig Enterprises, Inc. (OTC: LUDG) Board of Directors
announces it received its first payment of $100,000 towards a 10 year multi-million dollar
licensing agreement for deployment of Ludwig's Technology into the
Canadian Market.
Multiple Canadian Television stations are by law scheduled to
permanently turn off their analogue transmitters on December 31, 2012 as Canadian Television convert
to the ATSC broadcast standard. This standard is the foundation of
Ludwig's revolutionary technology.
Under terms of the agreement Worthington Financial Services,
Inc. has agreed to purchase licensing rights to the patented
technology owned by Ludwig for the transmission of 50 audio
channels over the new digital TV networks within Canada, called "TheOne™" radio. Initial
projections indicate that upon completion of network build-out
Ludwig should receive approximately $18
million per year in licensing fees.
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.
