-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JVZPtLTFX0Z+IVH0TD76rOgrz4KAqAvboMJVb0wJKajCvSa9F5+ib3jKO6X+Hogc 1daukPKlff0OFiV/RwZGXg== 0001065516-06-000004.txt : 20060324 0001065516-06-000004.hdr.sgml : 20060324 20060324143615 ACCESSION NUMBER: 0001065516-06-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060323 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Other Events FILED AS OF DATE: 20060324 DATE AS OF CHANGE: 20060324 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOBILE NATION INC CENTRAL INDEX KEY: 0001083922 STANDARD INDUSTRIAL CLASSIFICATION: OIL AND GAS FIELD EXPLORATION SERVICES [1382] IRS NUMBER: 680427395 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28585 FILM NUMBER: 06708823 BUSINESS ADDRESS: STREET 1: 2647 DOUGLAS CIRCLE CITY: HENDERSON STATE: NV ZIP: 89074 BUSINESS PHONE: 7029149824 MAIL ADDRESS: STREET 1: 2647 DOUGLAS CIRCLE CITY: HENDERSON STATE: NV ZIP: 89074 FORMER COMPANY: FORMER CONFORMED NAME: WOLFSTONE CORP DATE OF NAME CHANGE: 19991210 8-K 1 form8k.txt CURRENT REPORT ON FORM 8-K

                         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): February 23, 2006
                                                 -------------------
                           MOBILE NATION, INC.
            (Exact name of registrant as specified in its charter)

         Nevada                   000-28585                    68-04727395
- ----------------------------     -----------             -------------------
(State or other jurisdiction     (Commission                (IRS Employer
of incorporation)                File Number)            Identification No.)


        2638 Pershing Circle,  Henderson, NV                    89074
- -----------------------------------------------------------------------------
      (Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code  (702) 914-9824
                                                  ---------------------------

      2638 Pershing Circle,  Henderson, NV                    89074
- ------------------------------------------------------------------------------
    (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 (see General Instruction A.2. below):

    Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)

    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

    Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

    Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

1

ITEM 5.02 DEPARTURE OF DIRECTOR AND EXECUTIVE OFFICER

Michael McGhee has resigned as an officer and director of registrant effective
immediately. The Board of Directors has replaced Mr. McGhee with Chancey
White, who will serve as a Director until the next Annual Meeting of the
Shareholders.

Ms. White began her professional career in 1994 heading up public relations and
overseeing the daily operations in the corporate offices for a publicly traded
biotech company. Ms. White also handled public relations, marketing strategies,
and business development for The Effects Network, a privately held Nevada
corporation providing specialty design and fabrications for the gaming,
tourism, and entertainment industries. Ms. White was the director of business
development for The Keith Companies, Inc. a NASDAQ listed engineering and
consulting services firm based on the west coast. Additionally, Ms. White was
Vice President of Plise Development and Construction, LLC, a Nevada based
company that specializes in the development and construction of
professional/medical office, warehouse and retail space. Ms. White currently
owns her own consulting firm, which provides consulting services to several
commercial developers in the Las Vegas area. Ms. White graduated from the
University of Nevada, Las Vegas majoring in Communications Studies and Public
Relations.

ITEM 8.01. OTHER EVENTS.

Letter of Intent with Dental Spas LLC

On February 23, 2006, Mobile Nation, Inc. (the "Company") and Dental Spas LLC
entered into a non-binding letter of intent ("Letter of Intent") for a business
combination between the Company and Dental Spas LLC (the "Transaction").

As outlined in the Letter of Intent, the Transaction will be structured as a
tax-free reverse merger or acquisition pursuant to which members holding 100
percent of the membership interests of Dental Spas LLC expect to receive
securities of the Company that will be equal to approximately 96 percent of the
issued and outstanding common stock of the Company at the closing of the
Transaction on a fully diluted basis. The Transaction contemplates the prior
consummation of (1) the acquisition by Dental Spas LLC of the entire membership
interest of BriteSmile Spas, LLC (pursuant to the Purchase Agreement dated
January 13, 2006 whereby certain assets of BriteSmile, Inc., consisting of 17
dental spas and certain US and international product distribution rights shall
be conveyed to BriteSmile Spas, LLC immediately prior to the transfer of
ownership of BriteSmile Spas, LLC to Dental Spas, LLC), and (2) funding of the
company in the amount of $27 million in debt and equity proceeds from a private
offering of the Company's stock and notes.

Definitive Agreements for the Transaction are expected to be signed in the
second calendar quarter of 2006. When the definitive agreements are signed, it
is anticipated that Philip L. Hirschhorn, a Manager of Dental Spas LLC, will be
appointed as the CEO of the Company. The Letter of Intent is non-binding
(except as to certain short-term exclusive dealing provisions) and there are no
assurances that a closing will occur.

2

Item 9.01.  Financial Statements and Exhibits.

    (a) Financial Statements of Businesses Acquired.
        --------------------------------------------
        Not applicable.

    (b) Pro Forma Financial Information.
        --------------------------------
        Not applicable.

    (c) Exhibits.
        ---------
        Number  Description
        ------  -----------
        10.1    Letter of Intent

3


                                     SIGNATURES

 Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,
 the Registrant  has duly caused this Current  Report on Form 8-K to be signed
 on its behalf by the undersigned hereunto duly authorized.

Dated: March 24, 2006                    MOBILE NATION, INC.
                                         BY:  /S/ REX A. MORDEN
                                         ------------------------
                                         Rex A. Morden
                                         President, Chief Executive Officer,
                                         and Director (principal and
                                         executive officer)
4

                      EXHIBITS FILED WITH THIS REPORT

        Number  Description
        ------  -----------
        10.1    Letter of Intent



EX-10.1
2
exh101.txt
LETTER OF  INTENT


EXHIBIT 10.1 - Letter of Intent


Dental Spas, LLC
108 East Monroe
Fairfield, Iowa 52556

February 23, 2006

Private and Confidential

Mr. Rex A. Morden
President and Chief Executive Officer
Mobile Nation, Inc.
2638 Pershing Circle
Henderson, NV  89074


Re: "Letter of Intent" ("LOI"), for the Share Exchange Agreement involving
Dental Spas, LLC ("DSL") and Mobile Nation, Inc. (the "Company") a publicly
traded company.

Dear Mr. Morden:

In furtherance to our recent conversations, Dental Spas, LLC is pleased to
submit this proposal for purposes of consummating the proposed transaction with
Mobile Nation, Inc. ("Mobile Nation" or the "Company"), which will result in a
business combination involving the Company and DSL.

This LOI sets forth the principal terms of a proposed transaction regarding the
issuance of approximately 13,764,000 shares of a combination of the Company's
common and preferred stock, in exchange for the transfer of 100% of the shares
or membership interests of DSL to the Company (the "Exchange").  Whichever form
the Exchange takes, the objective will be to place all the assets of BriteSmile
Spas, LLC (pursuant to the Purchase Agreement dated January 13, 2006 consisting
of 17 dental spas formerly owned by BriteSmile, Inc. and certain US and
international product distribution rights) into the control and the direct or
indirect ownership of the Company and to fund the transaction and working
capital for the business with $27 million of debt and equity proceeds from a
private offering of the Company's stock.  This LOI is a non-binding expression
of the general terms and conditions of the Exchange transaction, subject to
specific terms and conditions that will be set forth in a mutually acceptable
definitive Share Exchange Agreement hereinafter (the "Exchange Agreement")
providing for the Exchange, which is to be approved by both parties' Board of
Directors and signed by their appointed representatives; however, the following
agreement set forth in the balance of this paragraph shall be binding on the
parties:  For a period of 60 days following execution of this LOI by the second
party to sign, (1) unless this LOI is terminated by DSL due to adverse due
diligence findings regarding the business, financial condition or liabilities
of the Company, (2) unless the DSL-BriteSmile Purchase Agreement is terminated,
DSL shall not engage in negotiations with, or accept any offer from, another
party to effect a reverse merger of DSL or any affiliate into an SEC registered
company, and neither the Company nor Rex Morden shall engage in negotiations
with, or accept any offer from, another party to effect a business combination
between the Company and another company. This LOI will contain appropriate
representations and warranties, as well as customary covenants, indemnification
and conditions in form and substance satisfactory to both DSL and the Company
and their respective counsels, and an opportunity for DSL to perform
appropriate due diligence inquiries and review of the Company's SEC filings and
other related documents to determine the business, financial condition and
liabilities of the Company.

  1.  Representations and Warranties.

Representations and warranties of the Company. (i)  The Company is a fully
reporting publicly-traded company that trades under the trading symbol MTNT.PK.
The Company has 20,000,000 shares of common stock, with a $.001 par value per
share (the "Common Shares") authorized, of which approximately 573,500 shares
of Common Stock are issued and outstanding, and 10,000 authorized shares of
preferred stock  with a $40.00 par value per share (the "Preferred Shares"), of
which 0 shares are outstanding.  The Company has made no commitments,
contingent or otherwise, to issue any securities of the Company or any
subsidiary thereof to any person.  The Company has now, and will have at the
closing of the transactions contemplated by the Exchange Agreement (the
"Closing"), all requisite legal and corporate power and authority to enter into
and perform its obligations under the  Exchange Agreement, upon the action of
its board of directors and without consent of or prior notification to
shareholders; however, to effect this end, the Company may need to accept
convertible debt from DSL's equity investor and convert such debt to preferred
stock after the Closing and after effecting an amendment to the Company's
governing documents permitting the Company to issue blank check preferred stock
upon the authorization of its board of directors. (ii)  All information
relating to or concerning the Company set forth in the LOI and Exchange
Agreement or provided to DSL in writing or orally by senior management or
counsel to DSL in connection with the transactions contemplated hereby is and
shall be true and correct in all material respects.  No event or circumstance
known to the Company has occurred or exists with respect to the Company or its
business, properties, prospects, operations or financial condition, which has
not been disclosed.

(iii) The minute books of the Company are maintained by the Company and contain
accurate summary records of all meetings and written consents to action of the
Company's stockholders, the Board of Directors and all committees, if any,
appointed by the Board.  The Company is SOX compliant and current with all SEC
filings and audit reports accurately and completely reflect all material
information purported to be shown therein in all material respects. (iv)
Pending the Closing, MTNT shall issue no Preferred or Common Shares or grant
any rights to be issued Preferred or Common Shares. Representations and
warranties of both parties. (v) Between the date of this LOI and the closing of
the Exchange transaction, each party will continue to conduct its business as
it is presently conducted subject to the terms and conditions of this
agreement. Pending the Closing, each party agrees that there will be no
material adverse change to their business or their capitalization.

  2.  Transaction.  The terms and conditions of the Exchange transaction shall
  include the following:

(a) Prior to the Closing, the Company will have 573,500 Common Shares issued,
outstanding and committed. This is to represent approximately four percent (4%)
fully diluted of the post-Closing issued and outstanding shares.

(b) DSL's members and one or more investors providing funds for the purchase of
the dental spas in connection with the transaction shall receive an aggregate
of approximately 13,764,000 shares of Company Common and Preferred Stock. This
shall represent approximately ninety-six percent (96%) fully diluted of the
post-Closing issued and outstanding shares. If the transaction is taxable to
the parties, each party's obligation to proceed to Closing shall be subject to
the reasonable satisfaction of such party that substantial taxable income shall
not be recognized by such party or its members or shareholders in connection
with the transactions contemplated by the Exchange transaction and Agreement.

(c) All filings required to be made under federal and state laws, and the rules
and regulations promulgated there under, will be made as soon as practicable,
and in accordance with the requirements of the SEC, following the approval of
the Exchange Agreement by the respective Boards of Directors and by the members
of DSL.

(d) The Company will use up to four hundred thousand dollars ($400,000) of
escrowed funds to be provided by DSL prior to or at Closing to pay existing
liabilities and fees connected with the proposed transaction, so that the
liabilities remaining on the balance sheet of the Company (other than any debt
issued at Closing) shall not exceed $1000 in aggregate.

(e) Prior to the Closing, Company shall have 0 outstanding shares of preferred
stock.

(f) The Company will satisfy all instruments convertible into shares of Common
Stock prior to or at Closing.

(g) Both parties agree to use "best efforts" to have the Exchange Agreement
executed within the time frame necessary to fulfill the obligations of the
Purchase Agreement, but no later than 60 days from the date this LOI  unless
the parties find it mutually beneficial to extend the time frame and agree to
do so in writing,

(h) On or prior to the execution of the Exchange Agreement, each company shall
obtain the necessary shareholder/member and/or board approvals to effect the
Close of the proposed  transaction; however, nothing in this LOI is intended to
negate the representations and warranties of the Company set forth in paragraph
1(i).

(i) Each party shall, to its satisfaction, complete its due diligence
investigation of the other party, and its obligation to proceed to Closing
shall be subject to its evaluation of the results of such investigation.

(j) At the Closing, the officers and directors of the Company shall resign and
elect those individuals designated by DSL to serve on the Company's Board of
Directors until the next annual meeting of the shareholders of the Company.
Also, upon closing of the transaction, the officers of DSL shall be engaged on
terms (addressing titles, authority, duties etc.) acceptable to DSL and its
existing officers who shall comprise and have the right to designate the
officers of the Company for such terms as is so approved by the Board of
Directors.

(k) At the Closing DSL will be responsible for the Company name and symbol
change.

(l)  DSL acknowledges it has 4 business day after the Closing to file a valid
Form 8-K as required by the Securities and Exchange Commission upon the
consummation of the transaction contemplated hereby. Additionally, DSL will
take such steps as shall be reasonable to file an updated 15-c211.

(m) The Company shall have filed all reports required to be filed by Section 13
or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

  4.  Assets/Liabilities/Good Standing.

  The Company warrants that it is not aware of any pending litigation, has no
  unreported liabilities, and is in good standing with the State of its
  incorporation.


5.  Closing/Due Diligence.

This LOI is to be signed by the parties no later than close of business on
February 23, 2006.  The Exchange Agreement shall be executed as soon as
practicable thereafter.

The obligations of the parties to negotiate the Exchange Agreement and to
consummate the Closing are subject to conditions that will include, but will
not be limited to, those set forth above, and the following:

(a) No events shall have occurred that individually or in the aggregate have a
material adverse effect on the business or financial condition of the Company.

(b) There shall have been received all governmental and regulatory approvals
and any consents from third parties necessary to consummate the transactions;

(d) In conducting a review and examination of the management, business,
markets, assets, liabilities and financial condition of DSL and the Company,
neither party shall become aware of any liability, condition, fact or event
that, in such party's discretion, would make the proposed acquisition
inadvisable or not in the best interests of such party;

(e) The Exchange Agreement and any other final terms of the proposed
transactions shall have been approved by the Board of Directors of DSL and the
Board of Directors of the Company;

(f) An escrow shall have been created and funded with $400,000 on terms
acceptable to Company and not inconsistent with this LOI to be released to the
Company on or before the Closing date.

6.  Standstill/Confidentiality.

In consideration of a $25,000 non refundable deposit and the additional expense
to be incurred by DSL in conducting its due diligence investigation, and
preparations for the Exchange, upon the execution and return of this LOI,
accompanied by the non refundable deposit the Company  agrees to terminate all
on going merger negotiations and further agrees that for a period of 60 days
from the execution of the LOI and receipt of the non refundable deposit the
Company and/or its respective representatives will not (a) take action to
negotiate, solicit, promote, encourage or facilitate (including providing any
information to any third party) any transaction with any party other than as
provided in the  Exchange Agreement, or (b) disclose the transaction proposed
in this LOI or any of its terms to any person other than on a strictly need-to-
know basis or as required by the Securities and Exchange Commission's
regulations.

7.  Expenses.

All expenses connected with the transactions contemplated hereby shall be the
responsibility of the party incurring the expense, unless otherwise stipulated.

8.  Press Release/Miscellaneous.

The specific terms of this LOI shall not be disclosed by any party to any
person, except as may be required by the Securities and Exchange Commission's
regulations, or as may be necessary to receive requisite regulatory or
corporate approvals.  The parties agree that any press release or other
announcement announcing the transaction prior to the Closing will only be made
upon their joint approval.  This LOI and the Exchange Agreement shall be
governed by and construed in accordance with the laws of the State of Nevada
and the regulations of the Securities and Exchange Commission.

9.  Access to Information.

 Upon execution of this LOI, each party agrees to permit the other and its
 employees, attorneys, accountants, investment bankers and other agents to have
 full and free access, during normal business hours, to the books and records
 of the other and to the other's premises, employees, customers and suppliers
 (each party will work closely with the other's senior management to avoid
 disruption of these relationships) for the purpose of investigating the
 business and financial affairs and prospects of each other.


Please indicate your acceptance and approval of this LOI by signing and dating
below, and by returning a copy of this executed Letter to Dental Spas, LLC.


Dated:  February 23, 2006
        Dental Spas, LLC



     By: /s/ Philip L. Hirschhorn
        ---------------------------------
        Philip L. Hirschhorn, Manager


Accepted and Agreed to:

        Mobile Nation, Inc.



     By: /s/ Rex Morden, President/CEO
        -------------------------------
        Rex Morden, President/CEO

Date: Feberuary 23, 2006



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