Mobilepro Corp (fka MOBL)

[SeriousMoney]

More Toby 6/20/06...

MobilePro Corp. (OTC BB: MOBL) (Xtreme) said its WazTempe municipal wireless network continues to add paying subscribers with solid double-digit percentage growth for June's month-to-date gross revenue, versus May. Even before it has launched a formal ad campaign, WazTempe has grown to more than 750 access points throughout the city of Tempe, Ariz.

Bottom Line: This is nice news, especially following MOBL's recent decision to pull out of the Sacramento project after that city asked for significant changes to the original proposal -- a proposal that the company had submitted and had been approved. The changes included higher speeds, more upfront capital investment by MOBL, and more dependency on ad revenues for MOBL to recoup expenses. We are concerned about the Sacramento situation, but we don't believe what happened there is representative of MobilePro's target market of mid-sized cities.