PISCATAWAY, NEW JSERSEY — (Marketwired) — 10/08/14 — Mobile Broadcasting Corp., a company formed and to be reacquired by Mobile Broadcasting Holding, Inc. (OTC: PROW), formerly Progress Watch Corporation, announced today that it has signed an agreement with Priamba Soft, LLC, of Iselin, NJ, for development of the Company–s proprietary user application and communications platform.
The Company, whose proprietary user application and communications platform is licensed from Briken, LLC, has recently been notified that Briken–s application for a U.S. patent has been granted to cover certain claims made related to the communications platform.
Ken Bland, the Company–s chief executive officer and who is also the owner of Briken, stated, “The signing of a development agreement with Priamba Soft in conjunction with the approval of our communications platform patent represents great news for our investors. This allows us to move forward in the development of our platform which is vital to supporting our mobile broadcasting goals.”
The Company is planning to launch its proprietary user application and communications platform, subject to completion of development, 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).
PROW recently announced a letter of intent with Briken, LLC to reacquire the Company in an exchange of stock. Under the letter of intent, Mr. Bland will become the chief executive officer and controlling stock holder of the Company.
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.
Contacts:
Mobile Broadcasting Corp.
Kenneth D. Bland
Chief Executive Officer
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