Progress Watch Corp.
PINKSHEETS : PROW

Mobile Broadcasting Corp.

July 29, 2014 09:00 ET

Mobile Broadcasting Corp. Issues Update for Stockholders of Progress Watch Corporation

PISCATAWAY, NEW JERSEY--(Marketwired - July 29, 2014) - Mobile Broadcasting Corp. today issued an update for stockholders of Progress Watch Corporation (PINKSHEETS:PROW) regarding the previously announced plans described below.

Mobile Broadcasting is continuing the development of its technology, licensed from Briken, LLC, to provide "users of smartphones and devices on 4G/LTE networks [with] new capabilities to stream and broadcast feature-rich audio and video content instantly, without jeopardizing subscribers' privacy, or overloading the mobile network".

Mobile Broadcasting is preparing to submit its financial statements at date of inception to its auditor, MSPC Certified Public Accountants and Advisors, P.C., with offices in Cranford, New Jersey, for preparation of an audit.

Progress Watch is committed to declare a dividend in Mobile Broadcasting's common stock that Progress Watch owns, one share of the Mobile Broadcasting's common stock for each share of Progress Watch outstanding at the date of the dividend, to be determined.

Mobile Broadcasting is preparing a registration on Form S-1 to cover the anticipated stock dividend by Progress Watch, which cannot be distributed until the registration statement is effective, of which there is no assurance.

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

  • Mobile Broadcasting Corp.
    Kenneth D. Bland
    Chief Executive Officer
    ken@briken.net