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Progress Watch Announces Intent to License Mobile Broadband Communications Platform
Progress Watch Announces Intent to License Mobile Broadband Communications Platform.
About this update from Sixty Six Oilfield Services, Inc.
[{"type":"text","content":"\n \n \n Progress Watch Announces Intent to License Mobile Broadband Communications Platform\n \n \nProgress Watch Announces Intent to License Mobile Broadband Communications Platform\n \n TAMPA, FLORIDA--(Marketwired - Jun 11, 2014) - Progress Watch Corporation (PINKSHEETS:PROW) today announced that its new Mobile Broadcasting Corp. subsidiary has reached an agreement in principle with Briken, LLC and its principal Kenneth D. Bland to license a mobile broadband communications platform that is planned to support mobile broadband streaming of video content over 4G LTE networks.\n The technology to be licensed is the subject of two pending patent applications filed by Mr. Bland. The technology is believed to offer an improvement in delivery of video content over mobile broadband, including quality and length. The user applications are being configured for use on the iOS system for iPhones and the Android system for HTC and Samsung handsets, among others.\n Jackson L. Morris, Chief Executive Officer of the Company, said, \"The license of Briken's technology is consistent with the stated business direction we have previously announced for the Company. Mr. Bland has agreed to join the management of Mobile Broadcasting Corp. as a director and its chief executive officer, upon signing of the license agreement, which is expected within thirty days.\n Mr. Bland stated: \"An exclusive, perpetual license to Briken's mobile broadband communications platform is expected to receive patent protection under the two pending applications and should enable Mobile Broadcasting Corp. to compete favorably against existing and potential future competitors in delivery of streaming video over mobile broadband.\"\n Briken has instructed its patent counsel to begin drafting a license agreement. The proposed terms to the exclusive, perpetual license, which include the issue of a majority of Mobile Broadcasting Corp.'s equity and a royalty to Briken, are subject to final negotiations.\n The Company's name change to Mobile Broadcasting Holding, Inc. in Nevada was effective May 27, 2014. The Company will proceed with an application to FINRA for a market announcement of the name change. The Company is committed to keeping the investment community updated on the Company's activities and progress.\n SAFE HARBOR AND INFORMATIONAL STATEMENT\n This press release ma...