CDKX currently at 1 1/8...this out today:
gpg
(COMTEX) B: CDKnet Grants Technology License to "Move It Distribution
B: CDKnet Grants Technology License to "Move It Distribution, Corp."
GARDEN CITY, N.Y. (March 25) BUSINESS WIRE -March 25, 1999--CDKNET.COM
(OTC Bulletin Board: CDKX; the "Company") announces that its
subsidiary, CDKnet, LLC, has granted a license for its CDK and
associated technologies to Move It Distribution, Corp. (MID) for a
period of three (3) years.
MID specializes in the distribution of adult content via the Internet,
DVDs, CD-Roms and VHS tapes. MID will be using CDKnet's technology to
create web sites that will allow consumers the ability to custom
compile adult content on CDS or DVDs for next day delivery. This new
contract comes just after arrangements were announced with Hungarian
Broadcast Corporation (Nasdaq: HBCO) and the American Latin
Broadcasting Company for online customized audio and video compilation
sites.
"We believe that the License Agreement with MID represents another
important measure of acceptance of CDK(tm) Technology for the combining
of audio, videos and the web onto a standard CD," said Michael Jolly,
director of business development of CDKnet, LLC, the wholly owned
subsidiary of CDKNET.COM. The Company projects net licensing revenues
after all costs over the term of the new contracts to be in excess of
$600,000 for the fiscal year 1999; $3,000,000 for the fiscal year 2000;
and $9,000,000 for the fiscal year ended 2001. "Many major companies
are discovering the benefits of using CDK based Internet technologies
by enabling their consumers the ability to come to its web site and
custom compile a CD or DVD with its video, audio and other content
assets and have a personalized product in the consumers hands in 24
hours." said Jolly.
The License Agreement with MID provides that MID will have the ability
to create web sites using the CDK technology in the adult entertainment
industries. MID will be able to develop, manufacture and deliver
finished products ordered over the Internet.
The CDK(tm) technology is a convergent technology which combines
Internet browser functionality, "Red book" quality audio, and
full-screen high quality video on one platform that has broad
application for the multimedia marketing, advertising and promotion
areas, music and entertainment industry and music industry special
markets business. Other CDK technologies will enable a consumer the
ability to custom compile a CD or DVD with participating companies
audio, video and other content and be delivered in 24 hours to that
consumer. "The adult entertainment business is a very profitable
segment of business on the Internet and we believe that this will be a
very profitable license for venture for CDKNET," said Steven A.
Horowitz, CEO of CDKNET.COM.
The statements contained in this press release regarding the Company's
plans for the future development and operations of its business are
forward-looking statements that involve risks and uncertainties. While
the management believes that the assumptions underlying these statement
are reasonable, actual results could differ materially. Among the
factors that could cause results to differ materially are: a lack of
sufficient capital to finance the Company's business plan; the
Company's inability to penetrate other markets; the effect of economic
conditions; the introduction of new technologies and competition; and
other factors. CDKnet, CDK and Game Player and Metrotainment are
registered trademarks of CDKnet, LLC
-0- bk/ny*
CONTACT: Lawrence Adams Ltd., New York
Larry Horowitz, 212/736-4800
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
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