Mobilepro gets deferral on payments of $7 million in convertible debentures

By Sheri Kasprzak

New York, May 15 - Mobilepro, Inc. received a deferral on principal and interest payments related to its $7 million in outstanding convertible debentures held by Cornell Capital Partners, LP.

Cornell agreed to defer the payments until July 1, 2007.

The 7.75% debentures were issued in September 2006 and are convertible at $0.174 each.

Also, Mobilepro issued a promissory note to Cornell for $1.1 million.

Located in Bethesda, Md., Mobilepro is a broadband and wireless telecommunications provider.

On Tuesday, the company's stock remained unchanged at $0.021 (OTCBB: MOBL).

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