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Progress Watch Announces License for Mobile Broadband Communications Platform
Progress Watch Announces License for Mobile Broadband Communications Platform.
About this update from Sixty Six Oilfield Services, Inc.
[{"type":"text","content":"\n \n \n Progress Watch Announces License for Mobile Broadband Communications Platform\n \n \nProgress Watch Announces License for Mobile Broadband Communications Platform\n \n TAMPA, FLORIDA--(Marketwired - Jun 30, 2014) - Progress Watch Corporation (PINKSHEETS:PROW) today announced that its new Mobile Broadcasting Corp. subsidiary has entered into an exclusive license agreement with Briken, LLC to license a mobile broadband communications platform that is planned to support mobile broadband streaming of video content over 4G LTE networks.\n The license grants the Company's subsidiary full use of the technology covered by two pending patent applications submitted by Kenneth D. Bland, Briken, LLC's sole member. 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 Payment for the license includes a combination of voting preferred stock, common stock, a cash payment due in one year and a royalty based on sales. The combination of voting preferred stock and common stock will result in acquisition of majority ownership of the Company's subsidiary by Briken, LLC.\n Jackson L. Morris, Chief Executive Officer of the Company, said, \"The license of Briken's technology is a milestone toward achieving the stated business direction we have previously announced for the Company. And, as our subsidiary's director and chief executive officer, Mr. Bland brings to management experience in finance, sales and marketing in telecommunications resulting from his earlier employment by Kalen Communications, Phone Two Communications, Broadway Communications and AT&T.\"\n Mr. Bland stated: \"This license represents an opportunity to develop and commercialize a technology that, I believe, will receive broad market acceptance. Additional details of the technology's functionality will be made available in the near future. We plan to roll out an initial market test before year-end.\"\n The Company's name change to Mobile Broadcasting Holding, Inc. in Nevada was effective May 27, 2014. The Company plans to submit an application to FINRA later this week for a market announcement of the name change. The Company is committed to keep...