CARSON CITY, Nev., Nov. 14, 2011 /PRNewswire/ -- Vidable, Inc. (OTCBB: VIBE) (the "Company") is pleased to announce that it has signed an Exclusive Software Property, Technical Information and Trade Mark License Agreement with Vidable AG. Vidable, Inc. will have the worldwide exclusive license to all of the software, technical information and trademarks necessary to commercialize the business and allow customers to view a video instead of a static image when viewing potential items for purchase, rent and marketing their products. The agreement calls for Vidable, Inc. to pay a total license fee of nine million USD over a five year period and a five percent royalty on the net sales derived from the use of the licensed products.
Lino Luciani, President of Vidable, Inc., stated, "We are extremely pleased to own the exclusive rights to this software. We believe our vision of combining major internet trends of the internet today is inspired. Our research forecasts that the timing is optimal for introducing this product offering which utilizes video to help sellers get their message across to skeptical consumers. We believe this software is truly on the cutting edge of marketing and we anticipate that this will bring a new dimension to the space."
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 a European based software development company.
Forward Looking Statements:
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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.