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Tuesday, September 27, 2016 10:15:49 AM
Franchise Development
The Company is making preparation to expand its core business into professional recording with the build out of a recording studio at the current Boca Raton location. The recording studio is a logical direction for Ovation Music Boca that has over the years produced some of the best young music talent and bands in South Florida.
The recording studio not only provides an outlet for the musical talent that is produced by Ovation Music Boca but a new revenue stream that can be expanded to local musicians outside of the Ovation Music Boca roster of musicians and bands. The new management team brings with it several connections and abilities in the recording, production, distribution and marketing of musical talent.
Thomas L. DiStefano III, CEO, stated, "With the expansion into recording, marketing and distribution we have created a path for these musicians to not only develop their talent but to then turn that talent into a marketable product."
DiStefano continued, "There is a pathway for aspiring young athletes to develop from childhood to potentially the professional level, we want to create that same pathway for musicians."
Business Development
The Company has signed a Letter of Intent to acquire Digital Legend, Inc. a leading edge music platform and hi-fidelity device company.
Digital Legend has cracked the code and it's MBox -- Epic Sound provides 10x the sound quality at 20% of the cost of its nearest competitors like, JVC, Sony and Beats. Digital Legends is developing an audio listening platform that allows listeners to participate in live music and new music/artist launch and listening parties, while communicating digitally at the same time.
The Company and Digital Legend are exploring combined business opportunities, working through due-diligence toward a potential end-of-the year closing/.
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