TLD3 Entertainment Group, Inc. (OTC PINK: TLDE) http://ovationmusicstudios. com/index.php, and https://www.facebook.com/ OvationMusicBoca, is pleased to announce it has agreed to an acquisition of Digital Legend, a developer of leading edge wireless audio streaming devices and software.
Previously announced, TLD3 had entered into a LOI with Digital Legend (www.digitalegends.com) to explore a possible acquisition of Digital Legend's MBox -- a wireless mobile audio streaming technology that provides 10x the sound quality at 30% of the cost of its nearest competitors like, JVC, Sony and Beats. Since entering the LOI Digital has matured in its product development and will release its first consumer electric mobile audio streaming products in 1st QTR 2018. With the progress Digital has made and the completion of due diligence, the companies agreed to an acquisition of Digital and have completed the initial phase of the closing.
MBox is a unique integration of hardware, software and wireless technologies that enable mobile on the go streaming of Hi Fidelity16-24 bit Lossless music formats from iTunes, Spotify and Tidal. Digital Legend's wireless audio streaming products are targeted as an enhancement to high-end headphones like the Beats headphones, and as mobile complimentary streaming players for cars and wireless speakers. Furthermore, the Company is developing a novel music discovery/music sharing social-media app that integrates music sharing with real-time chatting and communication. The app allows listeners to participate in live music new music/artist launch listening parties, while communicating digitally at the same time. The App known as Cloudmountain will feature a unique Blockchain value creation mechanism that will reward artists, producers and consumers alike from songs that are played and shared.
Millennials are eager to share their lives digitally with their friends and that includes music. Cloudmountain will also allow artists to be paid in cryptocurrency, which will increase their compensation by cutting out the numerous intermediaries between the artist and payments. Cloudmountain will also be integrated into Digital's MBox mobile wireless audio streaming products giving them music discovery, sharing and chatting capability too. The wireless audio streaming MBox coupled with music sharing/discovery/value payment, Cloudmountain represents a powerful double edge entry into the mobile entertainment streaming market.
As part of this acquisition management will immediately begin bringing the Company's OTC Pink Sheet filings current. Additionally, management will begin a series of regular updates to keep shareholders informed of the progress of the Company's initiatives. Management expects many exciting updates, and this closing progresses the launch of Digital's product line.
Thomas DiStefano, CEO/Chairman, TLD3 Entertainment Group, Inc., stated, "There is no question the MBox enhances sound quality. Its size, look, feel and portability will allow many uses. I can envision the technology being part of young music lovers' must have sound devices." DiStefano continued, "Whether attached to headphones, built in to headphones or the actual phones, the MBox technology looks to change the quality of music and sound we've all forgotten since vinyl records."
The Company expects the completion of all transitions and phases of the acquisition of Digital Legends by December 1, 2017.
About TLD3 Entertainment Group, Inc.
The Company develops and buys business opportunities and is currently working with electronic audio enhancement technology. As well the Company is developing Ovation Music & Studios as a music school that creates live performance bands, with a rehearsal & recording studio and sound stage as a franchise opportunity.
About Digital Legend Technology, Inc. Digital Legend designs and markets signature digital platforms for music, entertainment and social media markets. Digital Legend is USA based design and Engineering Company with manufacturing and development assets in China and Hong Kong through its partner MBox Electronic Technology Ltd. The Company currently has 4 products for commercialization, 1) Cloud Mountain Music sharing with bitcoin payment platform. 2) MBox Wi-Fi music streaming player and 3) Bablr Mobile social media integration app 4) Aristotle mini mobile programmable computer.
The Wireless audio streaming market is estimated to grow to $33 billion a year by 2023.The online music streaming markets have surpassed $10 billion annually. Music discovery apps like Shazam have surpassed over $1 billion downloads and $1 billion in valuation. Digital Legend's initial products are powerful entrants in the wireless audio streaming, online music streaming and music discovery markets. Additionally the Cloudmountain app could revolutionize online payments for artists, producers and consumers. Digital Legend is uniquely positioned for growth in the newly emerging streaming entertainment markets.