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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (144180)	5/6/2005 4:29:42 AM
From: jmhollen	Respond to of 150070

All I can say is that I'm sure glad I'm not standing in that chow line with an empty tray, looking for Uncle Urbie to serve up something that doesn't smell like Mike Tyson's gym socks. It's sounds like most of those folks are going to end up saying, "..I wish I'd bought a V-8.."!!! John :-) .

To: Jim Bishop who wrote (144180)	5/6/2005 2:38:54 PM
From: StocksDATsoar	Read Replies (2) \| Respond to of 150070

KISS OF DEATH?? First stock I have ever seen rocking on a Cornell financing. (COMTEX) B: MobilePro Announces Favorable New $15.5M Financing Interest Ra B: MobilePro Announces Favorable New $15.5M Financing Interest Rate of 7.75% Wil BETHESDA, Md., May 5, 2005 /PRNewswire-FirstCall via COMTEX/ -- MobilePro Corp. (OTC Bulletin Board: MOBL) announced today that it has signed a term sheet for a new $15.5 million financing with Cornell Capital that significantly lowers the company's cost of capital. The Company anticipates closing the financing within the next two weeks. (Logo: newscom.com ) The financing carries an interest rate of 7.75%, has a term of three years, is convertible into common stock at $0.30 per share and includes six million warrants with an exercise price of $0.50 a share. The new financing will replace a bridge financing from a Connecticut-based hedge fund, which had an interest rate of 23%. MobilePro CEO Jay Wright said, "We are very pleased to have lined up this favorable new funding. It immediately cuts our annual interest expense by over $2 million per year (over half a cent per basic share outstanding) while positioning us to ultimately convert the debt into equity at prices above our 17-month high. By eliminating restrictive covenants, it also allows us to re- energize our acquisition program and continue building shareholder value. In short, it is a very solid package." About MobilePro Corp. MobilePro Corp. is a wireless technology and broadband telecommunications company based in Bethesda, Md. The company is focused on creating shareholder value by developing and deploying wireless technologies, acquiring and growing profitable broadband telecommunications companies and forging strategic alliances with well-positioned companies in complementary product lines and industries. An investment profile about MobilePro Corp. may be found online at hawkassociates.com . For more information, contact MobilePro CEO Jay Wright at (301) 315-9040 or by e-mail at jwright22@closecall.com . For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383, e-mail: info@hawkassociates.com . Detailed information about MobilePro can be found on the website mobileprocorp.com . An online investor relations kit including copies of MobilePro press releases, current price quotes, stock charts and other valuable information for investors may be found on the website hawkassociates.com . Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements" that are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. See the company's Form 10-K for the fiscal year ended March 31, 2004 and its Form 10-Q for the quarters ended June 30, 2004, September 30, 2004 and December 31, 2004 for a discussion of such risks, uncertainties, and other factors. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future. Please note that the announced term sheet has not closed and is subject to the execution of definitive agreements between Cornell Capital and the Company. SOURCE MobilePro Corp. CONTACT: Jay Wright, CEO, MobilePro Corp., +1-301-315-9040, or jwright Investor Relations, Frank Hawkins or Julie Marshall, both of +1-305-852-2383, or info@hawkassociates.com, for MobilePro Co URL: prnewswire.com mobileprocorp.com hawkassociates.com hawkassociates.com www.prnewswire.com Copyright (C) 2005 PR Newswire. All rights reserved. -0- KEYWORD: Maryland INDUSTRY KEYWORD: CPR TLS OTC ITE FIN SUBJECT CODE: FNC * end of story *