Progress Watch Corporation
PINKSHEETS : PROW

Mobile Broadcasting Corp.

September 11, 2014 09:00 ET

Mobile Broadcasting Corp. Announces Agreement for Design and Development of Planned Communications Platform

PISCATAWAY, NEW JERSEY--(Marketwired - Sept. 11, 2014) - Mobile Broadcasting Corp., a company formed by Mobile Broadcasting Holding, Inc. (PINKSHEETS:PROW), formerly Progress Watch Corporation, announced today that it has reached agreement in principle for the design and development of its planned mobile communications platform to support mobile to mobile live streaming between 4G LTE mobile and wireless devices.

Under the proposed agreement, which is under review by the Company's patent counsel, Priamba Soft of Iselin, New Jersey will provide design, development and programming services to the Company for the communications platform and related user applications based on design criteria in a statement of work which has been developed by the Company and Priamba Soft.

Ken Bland, the Company's chief executive officer, stated, "We believe Priamba Soft's involvement in development of our technology will enable us to launch our planned live -video streaming solution in less time than other arrangements we have considered for development."

The Company's planned live-video streaming solution will enable its subscribers to broadcast live video from and receive it on mobile devices. The solution is planned to include a VOD component that will enable subscribers to view the recorded live stream at a later time.

The Company is in process of preparing a registration statement which will enable Progress Watch to distribute a dividend in the Company's common stock to stockholders of Progress Watch on a record date to be established.

SAFE HARBOR AND INFORMATIONAL STATEMENT

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact, regarding the intent, belief and expectations of the Company and its management with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company's reports filed with the SEC. The Company is not eligible to rely on the safe harbor provided by Section 21E(c) of the Exchange Act because it is not subject to filing periodic reports under Sections 13 or 15(d) of the Exchange Act.

Contact Information

  • Mobile Broadcasting Corp.
    Kenneth D. Bland
    Chief Executive Officer
    ken@briken.net
    Only information that is publicly available will be provided