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
12, 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.
Jay
Wright, Chairman and CEO of Mobilepro, extended his 10b5-1 purchase program
of
Mobilepro common stock, par value $0.01 par value per share, through March
2007
pursuant to which he purchases approximately $5,000 per month of Mobilepro
common stock.
On
December 5, 2006 and December 12, 2006 the Registrant (“Mobilepro”) issued,
respectively, 3,684,945 and 3,545,633 shares of its common stock to Cornell
Capital Partners, LP under the terms of a convertible debenture dated June
30,
2006, which convertible debenture was reported in our Current Report on Form
8-K
filed July 7, 2006. Under the terms of that convertible debenture, 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 $0.275 or 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:
December 18, 2006