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:
February 7, 2007
MOBILEPRO CORP.
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(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
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(Address of principal executive offices) (Zip Code)
(301) 315-9040
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(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):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
Since the last Form 8-K filed January 25, 2007 by Registrant
("Mobilepro"), Mobilepro issued on February 7, 2007 and February 13, 2007 a
total of 11,793,044 shares of its common stock to Cornell Capital Partners, LP
to pay principal and interest due under the terms of its convertible debenture
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.
Under the terms of the 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 (ii) a 7% discount to the average of
the two lowest daily volume weighted average prices of Mobilepro'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
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Jay O. Wright
Chief Executive Officer
MOBILEPRO CORP.
Date: February 14, 2007