Progress Watch Corp.
PINKSHEETS : PROW

February 04, 2014 10:56 ET

Progress Watch Corp (PROW) Signs Letter of Intent with TeleDNA™

SENDEN, GERMANY--(Marketwired - Feb. 4, 2014) - Progress Watch Corp. (PINKSHEETS:PROW) has signed a letter of intent with TeleDNA. TeleDNA is at the forefront of global communications, providing products and innovations in IP and cloud networking; and wireless access to service providers throughout the world. TeleDNA is based in Bangalore, India.

For users of smartphones and devices on 4G/LTE networks, this means users will have new capabilities to stream and broadcast video. This technology streams feature-rich audio and video content instantly, without jeopardizing subscribers' privacy, or overloading the mobile network.

Progress Watch Corp. has selected TeleDNA to assist in the creation of a mobile network-based streaming broadcast technology. This technology is designed specifically to function on 4G and LTE mobile networks, and will provide significant capability in differentiation, segmentation, and revenue.

The TeleDNA team has collaborated with mobile network providers globally, and brings a diverse pool of experience in developing and implementing mobile technology solutions.

The Letter of Intent is the next major step in Progress Watch Corp.'s new direction into the mobile broadcast technology field.

This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions, or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.

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