Progress Watch Corp.
PINKSHEETS : PROW

October 24, 2014 09:59 ET

Progress Watch Announces Acquisition

PISCATAWAY, NEW JERSEY--(Marketwired - Oct. 24, 2014) - Briken, LLC and Mobile Broadcasting Holding, Inc. (PINKSHEETS:PROW), formerly Progress Watch Corporation, jointly announced today that they have completed a stock exchange under an agreement announced on October 22, 2014. With stock exchange, Mobile Broadcasting Holding has completed the reacquisition of Mobile Broadcasting Corp. as a wholly owned subsidiary. Kenneth D. Bland, through Briken, is now the controlling stockholder Mobile Broadcasting Holding. And, he has assumed the directorship and CEO positions of Mobile Broadcasting Holding. Concurrently, Jackson L. Morris has resigned both as a director and chief executive officer of Mobile Broadcasting Holding.

Ken Bland, the director and CEO of Mobile Broadcasting Holding, the owner of Briken and chief executive officer Mobile Broadcasting Corp., stated: "We are now in a better position to launch our technology with the wind of the public market at our back. We expect our stockholders to reap better value from our shares, while they participate in what we expect to be the most exciting and widely used social media in the last half of the second decade of the 21st Century."

The partially patented technology licensed by Mobile Broadcasting Corp. from Briken utilizes a proprietary user application and communications platform being built to broadcast and view 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 our 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

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