Mobiquity Technologies, Inc.
(the “Corporation”) previously obtained $2,300,000 in loan financing from Gene and Katherine Salkind and the Marital
Trust GST Subject U/W/O Leopold Salkind (collectively, the “Salkind Lenders”) and issued to them 15% Senior Secured
Promissory Notes dated September 13, 2019, which were amended and restated in Amended and Restated 15% Senior Secured Promissory
Notes dated December 31, 2019 (the “First Amended and Restated Notes”). Dr. Salkind is currently a director of the
Corporation. The Corporation believed it to be in the best interest of the Corporation and its shareholders to raise additional
capital by borrowing a further $150,000 from the Salkind Lenders. The Salkind Lenders provided the Corporation such addi
tional
capital funding in consideration of amending the Conversion Price under the First Amended and Restated Notes from $0.08 (pre-stock
split) to $4.00 (post-stock split).
Item 9.01. Financial Statements and Exhibits.
Exhibit
Description
10.1
Second Amended and Restated
15% Senior Secured Convertible Promissory Notes due September 30, 2029 – Principal Payment: $1,990,000
10.2
Second Amended and Restated
15% Senior Secured Convertible Promissory Notes due September 30, 2029 – Principal Payment: $460,000
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.
MOBIQUITY TECHNOLOGIES, INC.
By:
/s/ Dean L. Julia
Name:
Dean L. Julia
Title:
Chief Executive Officer
Date:
April 1, 2021
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