Progress Watch Corp.
PINKSHEETS : PROW

Mobile Broadcasting Corp.

October 03, 2014 09:00 ET

Progress Watch to Apply to FINRA for Market Announcement of Name Change and New Trading Symbol

TAMPA, FLORIDA--(Marketwired - Oct. 3, 2014) - Mobile Broadcasting Holding, Inc. (PINKSHEETS:PROW), formerly named Progress Watch Corporation, plans to apply to FINRA for a market announcement of its name change from Progress Watch Corporation, which was legally effective in the State of Nevada on May 27, 2014. Concurrently, the Company will request a change in its trading symbol to reflect its legal name. The Company plans to submit applications to FINRA within a week.

A press release regarding the legal name change was previously issued. Due to market recognition of the "Progress Watch" name and the "PROW" trading symbol and the plan to spin off Mobile Broadcasting Corp. as a separate public company, the Company did not apply at that time for a market announcement of the name change or for a new trading symbol.

Jackson L. Morris, the Company's sole director and chief executive officer, said: "Now that we have a letter of intent to bring Mobile Broadcasting Corp. back under our control as our operating, wholly owned subsidiary, it seems appropriate for the market to recognize the Company by its legal name, which also reflects the business it originally intended to engage in when the legal name was changed and once again plans to be engaged in."

The Company originally incorporated Mobile Broadcasting Corp. as a subsidiary to pursue the Company's planned business in development and deployment of a communications platform designed 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). Certain of the features of the communications platform have recently received U.S. Patent protection. The subsidiary recently licensed technology from Briken, LLC which then transferred control of the subsidiary to Briken, LLC. The Company has announced that it will reacquire control of the subsidiary.

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