SeriousMoney,
John:
Thanks for your note.
Our $15 million debt with Cornell is and has been public
record. I am mystified as to why some shareholders believe
that being able to pay the note only in cash is superior to
being able to pay for it in either cash or stock at the
Company's option.
I am also mystified as to why a note due in September is
riskier than one due in August.
I am also mystified as to why a note that was not callable
is deemed superior to one that is callable.
Bottom line, whether you and other shareholders understand
it, this restructuring is good for the financial health of
the company. Given your reaction, I expect it will have a
short term negative on the stock price. With us not
issuing any shares right now, that is something we will
just have to bear.
If we keep executing, the price will rebound. Of that I
have every confidence.
Sincerely,
Jay Wright
Chairman and CEO
Mobilepro Corp.
On Sun, 9 Jul 2006 11:22:43 -0700 (PDT)
> Jay,
> I guess I should have formatted my question to you in a
> different manner, as you elusively replied that you can't
> draw on the SEDA, past May 19th, as it expired. It
> doesn't mean your relationship w/Cornell expired. I guess
> CEO's sometimes know how to put the comforters on the
> bed, w/o the sheets underneath them. Very elusive answer,
> and quite disappointing to see this company continually
> be diluted. I'm sure you won't reply, as there is no
> possible way to sugar-coat what is transpiring w/this
> company. It's no wonder you are not able to entice new
> investors, seeing is believing, and they haven't seen
> anything but negatives concerning MobilePro. I've started
> putting my sell orders in at the .15 range, as many other
> long-term shareholders are doing as well. The ship
> appears to be sinking, and the CC did nothing to upright
> it.
> Good luck, your going to need it.
> Sincerely,
>
> PS- been a shareholder since .069
>
>
> ----- Original Message ----
> From: Jay Wright <jwright22@closecall.com>
> To: John
> Sent: Thursday, March 16, 2006 9:47:06 PM
> Subject: Re: SEDA
>
>
> The SEDA expires in May - we can't draw on in past then
> even if we wanted to (which we don't).
>
>
>
>
> On Wed, 8 Mar 2006 06:36:30 -0800 (PST)
>
> > Jay,
> > Is it true that MobilePro is going to continue to
> draw
> > off the SEDA for an extended period of time past the
> May
> > deadline for the SEDA agreement? You have stated that
> > the SEDA contract will be terminated in May, is that
> > definately the case here?
> > Your response is greatly appreciated, and
> > congratulations on what looks to be another awarded
> > wireless contract (Gilbert)! Phoenix looks to be in the
> > big picture soon (?)
> > Your response is greatly appreciated.
> > Sincerely,
> >
