Progress Watch Corp.
PINKSHEETS : PROW

October 28, 2014 09:52 ET

Mobile Broadcasting Corp. Announces Plans to Clarify Its Brand by Finalizing Its Name Change and Obtaining a New Ticker Tape Symbol

PISCATAWAY, NEW JERSEY--(Marketwired - Oct. 28, 2014) - Mobile Broadcasting Holding, Inc. (PINKSHEETS:PROW), formerly Progress Watch Corporation, announced that it would complete several housekeeping activities that will finalize its name change and enable it to obtain a new ticker symbol in anticipation of launching its user application and communications platform by the end of the year.

The Mobile Broadcasting Holding has recently completed its reacquisition of Mobile Broadcasting Corp. as a wholly owned subsidiary. The next step for The Company is to apply to the Securities Exchange Commission (SEC) for a formal name change from Progress Watch Corp. to Mobile Broadcasting Holding, Inc., followed by the request for a new OTC ticker symbol from the Financial Institution Regulatory Authority (FINRA).

Moreover, The Company, which has engaged MSPC Certified Public Accountants and Advisors, P.C., a firm hired to prepare audited financials, expects to have its finalized audit in several weeks which will pave the way for the completion of its Form S-1filing with the SEC.

"These steps should help us further clarify our market brand and increase market confidence as we finalize the development of our live streaming technology," stated Kenneth D. Bland, director and CEO of Mobile Broadcasting Holding, Inc.

The partially patented technology licensed by Mobile Broadcasting Corp. utilizes a proprietary user application and communications platform for broadcasting and viewing live video streams of interactive original programming directly between smartphones and other mobile devices which currently communicate on 4G LTE and Wi-Fi networks, as well as for viewing prerecorded live streams and video on demand programming (VOD).

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.

Only information that is publicly available will be provided.

Contact Information

  • Progress Watch Corp.
    Kenneth D. Bland
    Chief Executive Officer
    ken@briken.net