PISCATAWAY, NJ / ACCESSWIRE / January 26, 2015 / Mobile Broadcasting Holding, Inc. (OTCPink: MBHC) announces that its sole director, Kenneth D. Bland, has approved a reduction in the number of authorized shares of common stock to 250,000,000 shares from 600,000,000 shares. The Company plans to submit a Certificate of Amendment today to the Nevada Secretary of State.
Mr. Bland, who is also the Company's chief executive officer stated: "We do listen to our stockholders, who have not been pleased by the recent increase in our authorized shares. We believe that the reduction in the number of authorized shares will still allow us a margin for future issue sufficient to raise the capital we need to launch our live video streaming technology technology."
Supported by a 4G LTE and Wi-Fi telecommunications platform, the Company's live-streaming video app is being designed to allow anyone to broadcast to friends, family, and other followers. The app will also provide video-on-demand (VOD) features. The Company intends to announce in the near future a call for candidates interested in becoming beta testers of the Company's app.
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 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.
For more information, contact:
Mobile Broadcasting Corp.
Kenneth D. Bland
Chief Executive Officer
[email protected]
Only information that is publicly available will be provided.
SOURCE: Mobile Broadcasting Holding, Inc.