Ludwig Enterprises Announces Reverse Stock Split
POMPANO BEACH, Fla., June 20, 2011 /PRNewswire/ — Ludwig Enterprises, Inc. (LUDG:OTC Markets) Board of Directors announces a Reverse Stock Split of one hundred to one (100:1) for its sole class of stock. The Board of Directors met (06/20/2011) and voted to recommend the action. A special shareholders meeting was held (06/20/2011) consisting of shareholders holding in excess of 50%+ of the company’s stock. The action was voted on and approved with the effective date to be July 5th, 2011 at 12:01 AM.
Ludwig currently is seeking to raise capital for its proposed new radio network. This action is intended to assist in its fund raising activities.
The Reverse Split is proportional. No rights of any shareholder will be altered or diminished. All fractional shares resulting from the split will be rounded up to the nearest whole number. This action will result in a decrease of the issued number of shares from 271,254,396 to approximately 2,713,108 common shares.
As of this date, the company has no outstanding warrants, options or management compensation agreements payable in stock.
For any questions please send e-mails to Investor_Relations@Ludwigent.com or send mail correspondences to Ludwig Enterprises, Inc., Investor Relations Dept., 1702 “A” Street, Sparks, Nevada, 89431.
Stock certificates may be exchanged by contacting the Transfer Agent, Standard Registrar and Transfer Company, Inc., 12528 South 1840 East, Draper Utah, 84020. Please note the Transfer Agent will charge shareholder a fee for issuance of a new certificate.
ABOUT THEONE(TM) – “TheOne(TM)” radio is designed to be a mobile or fixed based multi-channel, multi-purposed digital 2-way communication device. The primary service is audio but enhanced with video, signage, text, educational and social networking features.
ABOUT LUDWIG ENTERPRISES, INC. – Ludwig Enterprises, Inc., (LUDG:OTC) has patented a revolutionary new method of radio broadcasting. This technology attaches fifty new digital channels to an existing digital television broadcast signal.
The One(TM) radio programming will include twenty-four hour a day programs in such languages as Chinese, Pakistani, Russian, Hebrew and many others. Additionally, there will be a limited number of specialty channels focusing on twenty-four hour a day old time radio programs, readings of local and national news papers (without commentary) and specialty music channels including jazz and Techno music.
ADDITIONAL INFORMATION about Ludwig Enterprises, Inc. as well as corporate structure and stock capitalization can be viewed on the Company’s Web site www.ludwigent.com. Capitalization and filing information may also be viewed at: www.otcmarkets.com.
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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President Ludwig Enterprises, Inc.
SOURCE Ludwig Enterprises, Inc.