MOBILESMITH, INC. (OTCMKTS:MOST) Files An 8-K Entry into a Material Definitive Agreement

MOBILESMITH, INC. (OTCMKTS:MOST) Files An 8-K Entry into a Material Definitive Agreement
Item 2.03 Entry into a Material Definitive Agreement.

On June 5, 2018, Mobilesmith, Inc. (the “Company”), entered into the Tenth Amendment (the “Tenth Amendment”) to Convertible Secured Subordinated Note Purchase Agreement dated November 14, 2007 (the "2007 Note Purchase Agreement”), the Eighth Amendment to the Convertible Secured Subordinated Promissory Notes (the “2007 Notes”) issued by the Company under the 2007 Note Purchase Agreement and Seventh Amendment to Registration Rights Agreement, with the holders of a majority of the aggregate outstanding principal amount of the 2007 Notes. The Tenth Amendment extends the maturity date of the outstanding 2007 Notes from November 14, 2018 to November 14, 2020, and amends the 2007 Note Purchase Agreement and the Registration Rights Agreement, dated November 14, 2007, to reflect this extension.

In addition, on June 5, 2018 the Company entered into the Second Amendment (the “Second Amendment”) to Convertible Subordinated Note Purchase Agreement dated December 11, 2014, (the “2014 Note Purchase Agreement”) and the Second Amendment to the Convertible Secured Subordinated Promissory Notes (the “2014 Notes”) issued by the Company under the 2014 Note Purchase Agreement with the holders of a majority of the aggregate outstanding principal amount of the 2014 Notes. The Second Amendment extends the maturity date of the outstanding 2014 Notes from November 14, 2018 to November 14, 2020, and amends the 2014 Note Purchase Agreement to reflect this extension.

Except as so amended, all of the terms relating to the outstanding 2007 Notes and the 2014 Notes continue in full force and effect. The Company is entitled to utilize the amounts available for future borrowing under each of the 2007 Note Purchase Agreement and the 2014 Note Purchase Agreement through November 14, 2020.

On June 8, 2018, the Company entered into Second Amendment (the “Second Amendment”) to Loan and Security Agreement with Comerica Bank dated June 9, 2014, (the “2014 Comerica LSA"”). The Second Amendment extends the maturity date of the outstanding loan under the 2014 Comerica LSA from June 6, 2018 to June 9, 2020.

Except as so amended, all of the terms relating to the outstanding 2014 Comerica LSA remain unchanged.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 2.03 hereof is incorporated herein by reference.

Item 2.03Financial Statements and Exhibits.

(d) Exhibits

10.1 Tenth Amendment to Convertible Secured Subordinated Note Purchase Agreement, Eighth Amendment to Convertible Secured Subordinated Promissory Notes and Seventh Amendment to Registration Rights Agreement, dated June 5,2018 , by and among MobileSmith, Inc., Grasford Investments LTD. and Union Bancaire Privee ("UBP").

10.2 Second Amendment to Convertible Subordinated Note Purchase Agreement and Second Amendment to Convertible Subordinated Promissory Notes, dated June 5, 2018, by and among MobileSmith, Inc., and UBP.

10.3 Second Amendment to Loan and Security Agreement by and among MobileSmith, Inc., and Comerica Bank dated June 8, 2018


MobileSmith, Inc. Exhibit
EX-10.1 2 amendment10to2007npa21may.htm AMENDMENT 10 TO 2007 NPA Blueprint     TENTH AMENDMENT TO CONVERTIBLE SECURED SUBORDINATED NOTE PURCHASE AGREEMENT,…
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About MOBILESMITH, INC. (OTCMKTS:MOST)

MobileSmith, Inc. develops and markets a software-as-a-service (SaaS) platform that allows non-programmers to design and build native mobile applications for smartphones and tablets. The Company’s product is the MobileSmith Platform (the Platform). The Company’s Platform is an application development platform that enables organizations to create, deploy and manage custom, native smartphone and tablet applications deliverable across iPhone operating system (iOS) and Android mobile platforms. The Company’s principal products and services include subscription to its SaaS cloud-based mobile application development platform to customers who design and build their own applications; internal and secure mobile development platform for the United States Department of Defense and related contractors; custom mobile application design and development services; mobile application marketing services, and mobile strategy implementation consulting.

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