Item 8.01 Other Events.
On September 21, 2022, MobileSmith, Inc. (the "Company") determined that its
primary sources of historical funding were no longer available to the Company
based on various communications and, in some cases, meetings with such sources.
The Company believes this likely constitutes a material adverse effect as such
term is defined in both (i) the Loan and Security Agreement dated June 9, 2014
between the Company and Comerica Bank and (ii) the form of the Company's Series
A Exchange Agreement relating to the Company's Series A Convertible Preferred
Stock.
The Company is currently evaluating and pursuing all possible strategic
alternatives though it is possible that the Company may not be able to achieve
any acceptable strategic alternative.
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