Form 8-K - Current report
November 13 2023 - 9:15AM
Edgar (US Regulatory)
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0001084267
0001084267
2023-11-07
2023-11-07
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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): November
7, 2023
MOBIQUITY
TECHNOLOGIES, INC.
(Exact Name of Registrant
as Specified in Its Charter)
New York |
|
001-41117 |
|
11-3427886 |
(State or Other Jurisdiction of
Incorporation or Organization) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
35 Torrington Lane
Shoreham, New York |
|
11786 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s Telephone Number, Including
Area Code: (516) 246-9422
(Former Name or Former
Address, if Changed Since Last Report)
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):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined 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 check mark 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. ☐
Securities registered pursuant to Section 12(b)
of the Act: Common Stock, $0.0001 par value per share; Common Stock Purchase Warrants.
Item 3.02 |
Unregistered sale of equity securities |
The Company’s Chairman
of the Board, Gene Salkind and parties associated with him(the “Preferred Shareholders”), invested $1,503,495 into our newly
created Series G Preferred Stock. In this respect, effective November 7, 2023, the Company closed on three Subscription Agreements for
the sale of a combined 300,789 shares of its Series G Preferred Stock for total cash proceeds of $1,200,000, plus conversion of principal
and accrued interest from an October 2023 Loan of $303,495, resulting in an increase in shareholders’ equity of $1,503,495. Each
share of the Series G Preferred Stock is convertible by the Preferred Shareholders at any time after issuance into ten (10) shares of
the Company’s Common Stock, or $0.50 per Common Share (Conversion Ratio). The Series G Preferred Stock will automatically convert
at the same Conversion Ratio upon the Company’s Common Stock reporting of a closing sales price over $5.00 per share for ten (10)
consecutive trading days. The Company did not pay any commissions or other compensation to any third party in connection with the transactions
reported in this Form 8-K. Exemption from registration is claimed under section 4(2) of the Securities Act of 1933, as amended.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: November 13, 2023 |
MOBIQUITY TECHNOLOGIES, INC. |
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|
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By: /s/ Dean L. Julia |
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Dean L. Julia, Chief Executive Officer |
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