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:
March
4,
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 filing 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.
On
March
4, 2008 the Registrant (“Mobilepro”), together with its formerly owned
subsidiary, Neoreach, Inc., was served with a summons and complaint filed by
Harborside Investments III, LLC (“Harborside”) in the Superior Court of New
Jersey, Bergen County, docket no. L-1510-08. The civil complaint alleges
that Mobilepro breached a master lease agreement entered into between the
parties in connection with the purchase of certain wireless equipment for
Farmers’ Branch, TX by failure to make payments due under that agreement.
Harborside Investments III, LLC seeks judgment in the amount of $976,360.98,
plus attorney fees and the other reasonable costs associated with the pursuit
of
the litigation.
Mobilepro
has communicated with Harborside regarding this matter including the fact that
there is a potential buyer of the Farmers’ Branch wireless network that is
seeking to close a transaction in April 2008. Mobilepro believes that there
is a
reasonable opportunity to work out a solution outside of litigation but warns
shareholders that there is no guarantee that such a resolution will be achieved.
If such a resolution is not achieved and if Harborside were to prevail in its
complaint and obtain a judgment, such a result could have a material adverse
effect on Mobilepro’s liquidity and force Mobilepro to evaluate its legal
options. See “Risk Factors” in Mobilepro’s most recent 10-Q for more detail on
such risks.
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.
|
|
|
|
MOBILEPRO
CORP.
|
|
|
|
|
By: |
/s/ Jay
O. Wright
|
|
Jay
O. Wright
Chief
Executive Officer
|
|
|
Date:
March 10, 2008 |
|