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:
January
11, 2008
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))
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|
|
o |
Pre-commencement
communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item
8.01
Other Material Events.
On
January 11, 2008, the Registrant received a scheduled payment of $500,000
pursuant to an amended promissory note (the “Amended Note”) between the
Registrant and United Systems Access, Inc. (“USA”). The balance of the principal
amount of the Amended Note, $1,000,000, together with interest accruing at
the
rate of 7.75% per annum, is due on the earlier of the closing of the Purchase
Agreement for the competitive local exchange carrier (“CLEC”) business or March
31, 2008. 75% of the payment received by the Registrant on January 11, 2008
was
used to partially repay amounts due and owing to YA Global Investments, L.P.
(“YA Global”, f/k/a Cornell Capital Partners, L.P.) under certain convertible
debentures. Following the January 11, 2008 payment, the principal balance owed
by the Registrant to YA Global under the convertible debentures is approximately
$13.2 million.
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.
Jay
O.
Wright
Chief
Executive Officer
MOBILEPRO
CORP.
Date:
January 14, 2008