|By Marketwired .||
|August 12, 2014 09:01 AM EDT||
PISCATAWAY, NEW JERSEY -- (Marketwired) -- 08/12/14 -- Mobile Broadcasting Corp., a company formed by Mobile Broadcasting Holding, Inc. (PINKSHEETS: PROW), formerly Progress Watch Corporation, continues its development of technology which enables smartphones and other devices to live stream video and audio content over 4G/LTE networks.
Ken Bland who took over as CEO in early July stated, "Currently, we're on track to meet our end-of-the-year technology launch deadline. Our vision is to set a leading standard for this industry. We believe market acceptance will help us achieve this goal."
Two of the primary products the Company plans to release are a live-video streaming product and a video-on-demand (VOD) product.
The live-video streaming product will enable its subscribers to broadcast live events. The VOD product will enable it subscribers to record the live stream for later viewing.
The Company is in process of preparing a registration statement which will enable Progress Watch to distribute a dividend in the Company's common stock to stockholders of Progress Watch on a record date to be established, on a basis of one share of the Company's common stock for each share of Progress Watch outstanding.
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.
Mobile Broadcasting Corp.
Kenneth D. Bland
Chief Executive Officer
Only information that is publicly available will be provided
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