Vidable, Inc. Signs Non-Binding Letter of Intent
CARSON CITY, Nev., Nov. 8, 2011 /PRNewswire/ -- Vidable, Inc. (OTCBB: VIBE) (the "Company") announced that it has signed a non-binding letter of intent with Vidable AG to purchase exclusive worldwide rights to certain software technology related to streaming video. The parties intend to negotiate and execute a definitive agreement containing all material terms for this transaction, including the purchase price to be paid by Vidable, Inc.
"We have taken a new approach to our business that began with our name change to 'Vidable, Inc.,' and is continuing with our implementation of a new business model which includes acquiring the software from Vidable AG. We believe this software will form the basis of our web platform to incorporate streaming video and mobile technology for online commerce," added Vidable, Inc. CEO Mr. Lino Luciani. "We are now assembling a management team to launch a video-based e-commerce marketplace and executing a definitive agreement with Vidable AG to acquire this streaming video software will be an important step in furtherance of our strategy."
About Vidable, Inc.: Vidable, Inc. is a development stage video based e-commerce marketplace company which intends to connect merchants and customers via streaming video, mobile technology and social media.
About Vidable AG: Vidable AG is European based software development company.
Forward Looking Statements:
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally can be identified by phrases such as Vidable, Inc. or management of Vidable, Inc. "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe management's beliefs, intentions or goals also are forward-looking statements. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of Vidable, Inc. or the price of Vidable, Inc.'s common stock. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: the ability of Vidable, Inc. to compete successfully in the e-commerce marketplace, development ore acquisition of technology to advance its platform, the ability of the parties to consummate the proposed transaction referred to herein, economic, regulatory and other risks known or unknown, that could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included herein are made only as of the date of this release. Vidable, Inc. undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.
SOURCE Vidable, Inc.
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