Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
Report:
December
19, 2006
MOBILEPRO
CORP.
---------------
(Exact
Name of Registrant as Specified in Charter)
Delaware
|
000-51010
|
87-0419571
|
(State
of Incorporation)
|
(Commission
File Number )
|
(IRS
Employer Identification No.)
|
6701
Democracy Blvd., Suite 202
Bethesda,
MD 20817
--------------------
(Address
of principal executive offices) (Zip Code)
(301)
315-9040
--------------
(Registrant's
telephone number)
Check
the
appropriate box below if the Form 8-K is intended to simultaneously satisfy
the
filing obligation of the registrant under any of the following provisions
(see
General
Instruction A.2 below):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01. Other Events.
From
December 19, 2006 through January 11, 2007 the Registrant (“Mobilepro”) issued a
total of 22,088,004 shares of its common stock to Cornell Capital Partners,
LP
to pay principal and interest due under the terms of two convertible debentures,
one dated June 30, 2006 in the principal amount of $15,149,650, which
convertible debenture was reported in our Current Report on Form 8-K filed
July
7, 2006, for which the Registrant issued 17,544,815 shares of its common stock,
and one dated August 28, 2006 in the principal amount of $2,300,000, which
convertible debenture was reported in our Current Report on Form 8-K filed
September 9, 2006, for which the Registrant issued 4,543,189 shares of its
common stock. Under the terms of these convertible debentures, Mobilepro has
the
right to pay principal and interest due in shares of Mobilepro’s common
stock,
which
shares shall be valued at the lower of (i) $0.275 for the June 30, 2006
Debenture and $0.174 for the August 28, 2006 Debenture or (ii) a 7% discount
to
the average of the two lowest daily volume weighted average prices of Mobilpro’s
common stock as quoted by Bloomberg, LP for the five trading days immediately
following the scheduled payment date.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
By:
/s/ Jay O. Wright
Jay
O. Wright
Chief
Executive Officer
MOBILEPRO
CORP.
|
Date:
January 12, 2007