Note matures Nov. 14, 2016, funds working capital, capital spending
By Devika Patel
Knoxville, Tenn., Dec. 2 - MobileSmith, Inc. sold another $120,000 8% convertible secured subordinated note on Nov. 25, according to an 8-K filed Monday with the Securities and Exchange Commission.
The note matures Nov. 14, 2016. It may not be prepaid without approval from noteholders representing a majority of the aggregate principal amount of the outstanding notes.
The company issued notes on substantially the same terms as the previously issued notes sold on Nov. 14, 2007, Aug. 12, 2008, Nov. 21, 2008, Jan. 6, 2009, Feb. 24, 2009, April 3, 2009, June 2, 2009, July 16, 2009, Aug. 26, 2009, Sept. 8, 2009, Oct. 5, 2009, Oct. 9, 2009, Nov. 6, 2009, Dec. 23, 2009, Feb. 11, 2010, April 1, 2010, June 2, 2010, July 1, 2010, Aug. 13, 2010, Aug. 30, 2010, Sept. 14, 2010, Sept. 30, 2010, Nov. 9, 2010, Feb. 7, 2011, March 4, 2011, April 6, 2011, May 4, 2011, Sept. 6, 2011, Oct. 11, 2011, Nov. 7, 2011, Dec. 14, 2011, Jan. 5, 2012, Feb. 10, 2012, March 9, 2012, April 2, 2012, May 25, 2012, June 13, 2012, July 3, 2012, Aug. 8, 2012, Sept. 7, 2012, Oct. 1, 2012, Oct. 15, 2012, Oct. 31, 2012, Nov. 14, 2012, Dec. 13, 2012, Jan. 7, 2013, Jan. 29, Feb. 27, April 2, April 16, May 1, May 22, June 27, July 10, July 22, Aug. 2, Sept. 3, Sept. 13. Oct. 1, Oct. 15 and Oct. 28.
Proceeds will be used to meet ongoing working capital and capital spending requirements.
Durham, N.C.-based MobileSmith, formerly known as Smart Online, Inc., is a provider of mobile software solutions for enterprise customers.
| Issuer: | MobileSmith, Inc.
|
| Issue: | Convertible secured subordinated note
|
| Amount: | $120,000
|
| Maturity: | Nov. 14, 2016
|
| Coupon: | 8%
|
| Call: | No
|
| Pricing date: | Nov. 14, 2007
|
| Settlement date: | Nov. 25
|
| Stock symbol: | OTCBB: MOST
|
| Stock price: | $2.50 at close Nov. 14, 2007
|
| Market capitalization: | $19.82 million
|
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