Summary by Moomoo AI
On August 6, 2024, Dr. Gene Salkind, a practicing neurosurgeon and Chairman of the Board of Mobiquity Technologies, Inc., filed an amendment to the Schedule 13D, disclosing a significant ownership stake in the company. The filing, which is an update to a previous Schedule 13D filing, indicates that Dr. Salkind, along with his wife and a family trust, beneficially owns 8,805,239 common shares of Mobiquity Technologies, representing approximately 53.1% of the company's outstanding common shares. This ownership includes convertible notes, options, and warrants for additional shares. The filing also notes that Dr. Salkind has no current plans that would result in any major changes to the company's structure or operations as outlined in the Schedule 13D instructions. The acquisition of shares by Dr. Salkind and his associated parties was funded through personal funds over several years. Notably, the reporting person received 7,675,160 common shares upon the automatic conversion of Series H Preferred Stock after the company's stock traded above $2 per share between July 24, 2024, and August 6, 2024. This conversion also included additional shares for accrued and unpaid dividends.
