UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): July 27, 2007
MOBILITY ELECTRONICS, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
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| 0-30907
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86-0843914 |
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(IRS Employer Identification No.) |
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| 17800 N. Perimeter Dr., Suite 200, Scottsdale, Arizona
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85255 |
| (Address of Principal Executive Offices)
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(Zip Code) |
(480) 596-0061
(Registrant’s telephone number, including area code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
TABLE OF CONTENTS
Item 1.02. Termination of a Material Definitive Agreement.
On July 27, 2007, Mobility Electronics, Inc. (“Mobility”) and Motorola, Inc. (“Motorola”)
mutually agreed to terminate the Sales Representative and Private Label Distribution Agreements
executed by and between the parties on March 31, 2005 (the “Motorola iTip Agreements”) that
governed the terms upon which the parties engaged in the sale of Mobility’s power products for low
power mobile electronic devices.
The Motorola iTip Agreements were executed in March 2005 in conjunction with the overall
restructuring of Mobility’s strategic relationship with Motorola and RadioShack Corporation
(“RadioShack”). As part of that transaction, Motorola purchased 689,656 shares of Mobility’s
common stock, received two warrants entitling it to purchase an additional 595,238 shares of
Mobility’s common stock at a price of $8.40 per share upon the achievement of certain performance
results by Mobility (the “Warrants”), and entered into a Sales Representative Agreement that
entitled it to receive a 24.5% share of the net profit generated by Mobility’s low-power products
operating division. Following the termination of the Sales Representative Agreement, Mobility now
retains 100% of the net profit generated by its low-power products operating
division. Notwithstanding the termination of the Motorola iTip Agreements, Motorola continues to
hold its Warrants.
The foregoing descriptions of the Warrants and the Motorola iTip Agreements are qualified in
their entirety by reference to the terms of such agreements which were previously filed as Exhibits
4.1, 4.2 and 10.1 to the Current Report on Form 8-K dated March 31, 2005.
Item 2.02. Results of Operations and Financial Condition
On August 1, 2007, Mobility announced via press release its preliminary results for its second
quarter ended June 30, 2007. A copy of the press release is furnished as Exhibit 99.1 to this
report.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report
on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liability of that section, and shall not be incorporated by reference into any registration
statement or other document filed under the Securities Act of 1933, as amended, or the Exchange
Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
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| Exhibit No. |
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Description |
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Exhibit 99.1
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Press Release issued August 1, 2007 |