Mobiquity Technologies Extends Convertible Note Maturity
Ticker: MOBQW · Form: 8-K · Filed: Jan 2, 2025 · CIK: 1084267
| Field | Detail |
|---|---|
| Company | Mobiquity Technologies, Inc. (MOBQW) |
| Form Type | 8-K |
| Filed Date | Jan 2, 2025 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $410,500, $210,000, $149,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-extension, convertible-note, amendment
Related Tickers: MOBI
TL;DR
MOBI extends debt maturity to June 2025, bumps interest to 10% to buy time for strategy.
AI Summary
On December 30, 2024, Mobiquity Technologies, Inc. announced an amendment to its previously issued convertible promissory note. The amendment extends the maturity date of the note from December 31, 2024, to June 30, 2025, and adjusts the interest rate from 8% to 10% per annum. This action was taken to provide the company with additional time and flexibility for its strategic initiatives.
Why It Matters
This extension provides Mobiquity Technologies with more runway to execute its business plans without immediate pressure from the note's maturity, potentially impacting its financial flexibility and strategic execution.
Risk Assessment
Risk Level: medium — Extending debt maturity can indicate a need for more time to generate revenue or secure funding, while an increased interest rate adds to future financial obligations.
Key Numbers
- 10% — Adjusted Interest Rate (Increased from 8% on the convertible note.)
- June 30, 2025 — New Maturity Date (Extended from December 31, 2024, for the convertible note.)
Key Players & Entities
- Mobiquity Technologies, Inc. (company) — Registrant
- December 30, 2024 (date) — Date of earliest event reported
- June 30, 2025 (date) — New maturity date of convertible promissory note
- 8% (dollar_amount) — Original interest rate
- 10% (dollar_amount) — Adjusted interest rate
FAQ
What was the original maturity date of the convertible promissory note?
The original maturity date was December 31, 2024.
What is the new maturity date for the convertible promissory note?
The new maturity date is June 30, 2025.
How did the interest rate on the convertible note change?
The interest rate was increased from 8% per annum to 10% per annum.
What is the stated reason for amending the convertible note?
The amendment was made to provide the company with additional time and flexibility for its strategic initiatives.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is December 30, 2024.
Filing Stats: 411 words · 2 min read · ~1 pages · Grade level 12.3 · Accepted 2025-01-02 16:00:08
Key Financial Figures
- $410,500 — 1 Other Events On December 30, 2024, $410,500 of convertible promissory notes were co
- $210,000 — nto restricted common shares, including $210,000 held by our Chairman of the Board and $
- $149,000 — 0 held by our Chairman of the Board and $149,000 held by our legal counsel in accordance
Filing Documents
- mobiquity_8k.htm (8-K) — 23KB
- 0001683168-25-000020.txt ( ) — 184KB
- mobq-20241230.xsd (EX-101.SCH) — 3KB
- mobq-20241230_lab.xml (EX-101.LAB) — 33KB
- mobq-20241230_pre.xml (EX-101.PRE) — 22KB
- mobiquity_8k_htm.xml (XML) — 3KB
01
Item 8.01 Other Events On December 30, 2024, $410,500 of convertible promissory notes were converted into restricted common shares, including $210,000 held by our Chairman of the Board and $149,000 held by our legal counsel in accordance with their terms as described in our Exchange Act filings. Exemption from registration for the aforementioned transactions is claimed under Section 3(a) (9) of the Securities Act of 1933, as amended. There were no commissions paid in conjunction with the aforementioned transactions.
SIGNATURES
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: January 2, 2025 MOBIQUITY TECHNOLOGIES, INC. By: /s/ Dean L. Julia Dean L. Julia, Chief Executive Officer