Enrico Mills Files SC 13D for Socket Mobile, Inc.

TL;DR

**SOCKET MOBILE (SCKT) - Enrico Mills just filed a 13D. Big changes coming?**

AI Summary

On August 27, 2024, Enrico Mills filed a Schedule 13D with the SEC regarding Socket Mobile, Inc. The filing indicates a change in beneficial ownership of the company's common stock. Mills' address is listed as c/o Socket Mobile, Inc. in Fremont, CA.

Why It Matters

This filing signals a potential shift in control or significant stake acquisition in Socket Mobile, Inc., which could impact the company's stock price and strategic direction.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, introducing uncertainty and potential volatility.

Key Players & Entities

• Enrico Mills (person) — Filer of the Schedule 13D
• Socket Mobile, Inc. (company) — Subject company of the filing
• 0000944075-24-000068 (filing_id) — Accession number for the SEC filing
• 83368E200 (cusip) — CUSIP number for Socket Mobile, Inc. common stock

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securitie
• $250,000 — m the Issuer in the principal amount of $250,000 (the “2024 Note”). The 2024
• $0.9515 — the option of the holder at a price of $0.9515 per share at any time on or prior to th

Filing Documents

• sc13d-em.htm (SC 13D) — 29KB
• 0000944075-24-000068.txt ( ) — 31KB

Security and Issuer

Item 1. Security and Issuer. This Statement on Schedule 13D (the “Schedule 13D”) relates to shares of Common Stock, par value $0.001 per share (the “Common Stock”), of Socket Mobile, Inc., a Delaware corporation (the “Issuer”). The principal executive offices of the Issuer are located at 40675 Encyclopedia Cir., Fremont, CA 94538.

Identity and Background

Item 2. Identity and Background. (a) This Schedule 13D is being filed by Enrico Mills (the “Reporting Person”). (b) The 2 (c) The Reporting Person is employed by the Issuer as General Manager Applications. The Issuer’s business address is 40675 Encyclopedia Cir., Fremont, CA 94538. (d) During the last five years, the Reporting Person has not been convicted in a criminal proceeding. (e) During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and is not as a result of such proceeding subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) The Reporting Person is a citizen of Switzerland, Ireland and the United Kingdom.

Source and Amount of Funds or other Consideration

Item 3. Source and Amount of Funds or other Consideration. The shares of Common Stock and securities convertible into shares of Common Stock beneficially owned by the Reporting Person were received as employment compensation, gifting or acquired from the Company in private placement transactions. See Item 5(c) for information relating to the Reporting Person’s transactions in the Common Stock during the past 60 days. The source of funds for the shares of Common Stock purchased by the Reporting Person was his personal funds. 2024 Convertible Note Financing On August 21, 2024, the Reporting Person purchased a convertible subordinated secured promissory note from the Issuer in the principal amount of $250,000 (the “2024 Note”). The 2024 Note carries a 10% annual interest rate and has a maturity date of August 21, 2027. The principal amount of the 2024 Note is convertible, at the option of the holder, into a maximum of 262,742 shares of Common Stock at any time on or prior to the maturity date. The Reporting Person used personal funds for the purchase and is the beneficial owner of the 2024 Note, holding sole power to dispose of or direct its disposition.

Purpose of Transaction

Item 4. Purpose of Transaction. The acquisition of the 2024 Note by the Reporting Person was for investment purposes only. As of the date of this statement, the Reporting Person has no present plans or proposals that relate to or would result in any of the matters described in subparagraphs (a) through (j) of Item 4 of the instructions to Schedule 13D.

Interest in Securities

Item 5. Interest in Securities of the Issuer. (a) The Reporting Person is the beneficial held in custodial accounts for his minor children, and (iii) up to 262,742 shares of Common Stock issuable to the Reporting Person upon conversion of the 2024 Note. Such shares of Common Stock, collectively, represent approximately 7.47% of the 7,861,591 shares of Common Stock deemed to be outstanding for the purpose of computing the percentage of outstanding shares of Common Stock owned by the Reporting Person pursuant to SEC Rule 13d-3(d)(1), and which consists of (i) 7,598,849 shares of Common Stock outstanding as of August 21, 2024 and (ii) 262,742 shares of Common Stock issuable upon conversion of the 2024 Note. 3 (b) The Reporting Person has sole power to vote and dispose of all shares of Common Stock beneficially owned by him. (c) On August 21, 2024, the Reporting Person purchased the 2024 Note for $250,000. The principal amount of the 2024 Note is convertible at the option of the holder at a price of $0.9515 per share at any time on or prior to the maturity date. (d) No person other than the Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of the Issuer's Common Stock beneficially owned by the Reporting Person. (e) Not applicable.

Contracts, Arrangements, Undertakings

Item 6. Contracts, Arrangements, Undertakings or Relationships with Respect to Securities of the Issuer. None

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. Exhibit No. A Form of Secured Subordinated Convertible Note, issued August 21, 2024 (incorporated by reference to Exhibit 10.1 of the Issuer’s Current Report on Form 8-K filed on August 22, 2024) 4 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. August 27, 2024 Date /s/ Enrico Mills Signature Enrico Mills Name 5

View Full Filing

View this SC 13D filing on SEC EDGAR