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Quotes & Info
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| MOBL.OB > SEC Filings for MOBL.OB > Form 8-K on 30-Mar-2009 | All Recent SEC Filings |
30-Mar-2009
Other Events
On March 24, 2009 the Registrant ("Mobilepro" or the "Company") received a summons and complaint filed by Commonwealth Capital Corporation ("Commonwealth") in the United States District Court, District of Arizona, Phoenix Division, Case no. 2:09-cv-00274-JWS against a "Mobilepro Corporation." Also named as defendants in the complaint are the City of Tempe, Arizona and Neoreach, Inc., the formerly owned wireless subsidiary of the Company. The civil complaint alleges that "Mobilepro Corporation" breached a certain lease agreement allegedly entered into between Mobilepro Corporation and Commonwealth. Commonwealth seeks judgment against "Mobilepro Corporation" in the amount of $904,620.00, plus interest, attorney fees and the other reasonable costs associated with the pursuit of the litigation.
The Registrant intends to vigorously defend itself in this matter and is in the initial stages of evaluating the appropriate counter-claims and defenses that may be asserted against Commonwealth. If Commonwealth were to prevail in its complaint and obtain a judgment and Mobilepro were not to prevail in any of its potential counter-claims, 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 quarterly report on Form 10-Q for more detail on such risks.
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