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:
June
6,
2006
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 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
June
6, 2006 we terminated our exclusive financial advisory agreement with Ryan
Beck
& Co., Inc. that we had engaged on December 12, 2005, as our investment
banker for strategic and other projects. We may work with Ryan Beck & Co.,
Inc. in the future on certain strategic projects on a nonexclusive
basis.
On
June
7, 2006 we decided not to pursue a
project
to establish a wireless broadband network for the City of Sacramento. Last
year
we won a competitive bid and conducted a successful pilot project in the city’s
downtown area that provided outdoor public Wi-Fi Internet access and real-time
video applications in Sacramento’s Cesar Chavez Plaza Park.
After
being declared the RFP winner and concluding a lengthy permitting process,
the
city sent us a firm counter proposal requiring the establishment of a free
high-speed wireless network supported almost exclusively by advertising revenue
without the benefit of the city serving as an anchor tenant. In
light
of our concerns regarding the economic viability of such a project we determined
that it was in our best interest of the company and its shareholders to withdraw
from the project.
A
copy of
the press release announcing the decision not to pursue the project to establish
a wireless broadband network for the City of Sacramento is attached as an
exhibit under Item 9.01(c) of this report.
Item
9.01. Financial Statements and Exhibits.
(c) Exhibits
Furnished.
99.1
Press
Release, dated June 8, 2006.
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.
| |
By: /s/ Jay
O.
Wright
|
| |
Jay
O. Wright
|
| |
President
and Chief Executive Officer
|
| |
MOBILEPRO
CORP.
|
Date:
June 9, 2006