Current Report Filing (8-k)

 

 

 

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC  20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): June 9, 2020

 

MOBILESMITH, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-32634		95-4439334
(Commission File Number)		(IRS Employer Identification No.)

 

5400 Trinity Rd., Suite 208 Raleigh, North Carolina		27607
(Address of Principal Executive Offices)		(Zip Code)
855-516-2413
(Registrant’s Telephone Number, Including Area Code)

 

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:

 

☐	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))

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

 

If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On June 9, 2020, the Company entered into Third Amendment to Loan and Security Agreement and First Amendment to Prime Referenced Rate Addendum  (the “Third Amendment”) in relation to Loan and Security Agreement with Comerica Bank dated June 9, 2014, (the “2014 Comerica LSA"”). The Third Amendment extends the maturity date of the outstanding loan under the 2014 Comerica LSA from June 9, 2020 to June 9, 2022 and changes frequency of interest payments from quarterly to monthly.

 

Except as so amended, all of the terms relating to the outstanding 2014 Comerica LSA remain unchanged.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

The information contained in Item 1.01 hereof is incorporated herein by reference.

 

Item 9.01   Financial Statements and Exhibits.

 

(d) Exhibits

 
10.1  Third Amendment to Loan and Security Agreement and First Amendment to Prime Referenced Rate Addendum by and among MobileSmith, Inc. and Comerica Bank dated June 9, 2020.

 

 

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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 hereunto duly authorized.

 

 

 

Date:  June 19 2020	Company Name: MobileSmith Inc.
	By: /s/ Gleb Mikhailov
	Gleb Mikhailov
	Chief Financial Officer

 

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