Published On: Thu, Jun 5th, 2014

PROGRESS WATCH CORP (OTCMKTS:PROW): Forms New Subsidiary

PROGRESS WATCH CORP (OTCMKTS:PROW) today announced the incorporation of a new subsidiary, named Mobile Broadcasting Corp. which will focus on the company’s planned business in “video streaming content over 4G and LTE mobile broadband networks”. The company reported that subsidiary was incorporated in the State of Florida on May 30, 2014. The company also announced to submit an amendment in Nevada to change its own name to Mobile Broadcasting Holding, Inc.

Chief Executive Officer of PROGRESS WATCH CORP (OTCMKTS:PROW), Jackson L. Morris expressed that the new subsidiary will allow the company to focus its efforts in video streaming content over mobile broadband markets and related financial accounting in a single corporate entity. Meanwhile this will also allow the parent company to pursue opportunities, if deemed appropriate by management, in other fields. The new subsidiary will seek licenses of significant technology for the components required to implement and execute its business plan.

The company will keep the investors updated on its activities and progress.

PROGRESS WATCH CORP (OTCMKTS:PROW) is headquartered in Henderson, Nevada and its subsidiaries in Switzerland. The company operates as an investment holding company with focus on mechanical movement manufacturing as well as watch supply businesses. The group actively manages its investments through updated dialogue with its directors, shareholders and the watch industry consultants. The company has formed certain alliances with watch developers, suppliers and related industries. The company’s Switzerland based subsidiary, Calibrum SA is engaged in development and production of innovative mechanical movements.

Hans Handl is a member of the Company’s Board of Directors since January 2009 and in February 2010 he was appointed as the President. Anke David is a Treasurer and has been a member of the Company’s Board since January 2009. Jan Wilgenhof is Secretary and a member of the Company’s Board since July 2010.

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