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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000944075-09-000035.txt : 20090604
<SEC-HEADER>0000944075-09-000035.hdr.sgml : 20090604
<ACCEPTANCE-DATETIME>20090604160755
ACCESSION NUMBER:		0000944075-09-000035
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090529
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20090604
DATE AS OF CHANGE:		20090604

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOCKET MOBILE, INC.
		CENTRAL INDEX KEY:			0000944075
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPUTERS [3571]
		IRS NUMBER:				943155066
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25904
		FILM NUMBER:		09874307

	BUSINESS ADDRESS:	
		STREET 1:		39700 EUREKA DRIVE
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-4808
		BUSINESS PHONE:		5109333000

	MAIL ADDRESS:	
		STREET 1:		39700 EUREKA DRIVE
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-4808

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOCKET COMMUNICATIONS INC
		DATE OF NAME CHANGE:	19950418
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form-8k0604.htm
<DESCRIPTION>8-K
<TEXT>
<html>
<head>

</head>

<body bgcolor="#FFFFFF">
<div align=left>
  <hr width="100%">
  <div align=center>
    <hr width="100%">
    <p><font face="Times New Roman, Times, serif" size="3"><b><font size="5">UNITED
      STATES<br>
      </font></b><font size="5"><strong>SECURITIES AND EXCHANGE COMMISSION</strong></font></font></p>
  </div>
</div>
<p align=center><font face="Times New Roman, Times, serif" size="3">Washington,
  DC 20549</font></p>
<p align=center><font face="Times New Roman, Times, serif" size="3">__________________________</font></p>
<p align=center><font face="Times New Roman, Times, serif" size="3"> <b><font size="5">FORM
  8-K</font></b><br>
  <br>
  <b>CURRENT REPORT</b><br>
  <br>
  Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934<br>
  <b><br>
  </b></font></p>
<p align=center><font face="Times New Roman, Times, serif" size="3"><b>May 29</b></font><font face="Times New Roman, Times, serif"><b><font size=3>,
  2009</font></b><font size=3><br>
  Date of Report<br>
  <font size="2">(Date of earliest event reported)</font></font></font></p>
<p align=center><font face="Times New Roman, Times, serif" size="3"><br>
  </font></p>
<p align=center><font face="Times New Roman, Times, serif" size="5"><strong><font size="6">SOCKET
  MOBILE, INC.</font></strong></font><font face="Times New Roman, Times, serif"><br>
  <font size=2>(Exact name of registrant as specified in its charter) </font></font></p>
<p>&nbsp;
<table cols=3 width="100%">
  <tr>
    <td height=28 width="34%">
      <center>
        <font face="Times New Roman, Times, serif" size=3><b>Delaware<br>
        </b></font><font face="Times New Roman, Times, serif" size=2>(State or
        other jurisdiction of incorporation)</font><font face="Times New Roman, Times, serif" size=3><b>
        </b> </font>
      </center>
    </td>
    <td height=28 width="32%">
      <center>
        <font face="Times New Roman, Times, serif" size=3><b>001-13810<br>
        </b></font><font face="Times New Roman, Times, serif" size=2>(Commission
        File Number)</font><font face="Times New Roman, Times, serif" size=3><b>
        </b></font>
      </center>
    </td>
    <td height=28 width="34%">
      <center>
        <font face="Times New Roman, Times, serif" size=3><b>94-3155066</b><br>
        </font><font face="Times New Roman, Times, serif" size=2>(IRS Employer
        Identification No.)</font><font face="Times New Roman, Times, serif" size=3>
        </font>
      </center>
    </td>
  </tr>
</table>
<font face="Times New Roman, Times, serif"><br>
</font>
<p align=center><font face="Times New Roman, Times, serif" size="3"><b>39700 Eureka
  Drive <br>
  Newark, CA 94560</b></font><font face="Times New Roman, Times, serif"><br>
  <font size=2>(Address of principal executive offices, including zip code) </font></font></p>
<p align=center><font face="Times New Roman, Times, serif" size="3"><b>(510) 933-3000<br>
  </b></font> <font face="Times New Roman, Times, serif"><font size="2">(Registrant's
  telephone number, including area code)</font></font>
<div align="center">
  <p>&nbsp;</p>
  <p align="left"><font face="Times New Roman, Times, serif">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):</font></p>
  <p align="left"><font face="Times New Roman, Times, serif"><font size="3">[
    ] Written communications pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)</font></font></p>
  <p align="left"><font face="Times New Roman, Times, serif"><font size="3">[
    ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)</font></font></p>
  <p align="left"><font face="Times New Roman, Times, serif"><font size="3">[
    ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))</font></font></p>
  <p align="left"><font face="Times New Roman, Times, serif"><font size="3">[
    ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))<br>
    <br>
    </font></font></p>
</div>
<p style="PAGE-BREAK-BEFORE: always"> </p>
<div align=left></div>
<div align=left>
  <hr width="100%">
</div>
<p>&nbsp;</p>
<p><font face="Times New Roman, Times, serif"><b>Item 8.01 Other Events</b><br>
  </font></p>
<p><font face="Times New Roman, Times, serif">On May 29, 2009, Socket Mobile,
  Inc. (the "Company") informed Silicon Valley Bank (the "Lender"), in the process
  of completing the closing of its financial records for the month of April 2009,
  the Company had determined that as of the end of April 2009 it was out of compliance
  with the adjusted quick ratio covenant under the Second Amended and Restated
  Loan and Security Agreement, dated as of December 24, 2008, between the Company
  and the Lender, as amended, and the Second Amended and Restated Export-Import
  Bank Loan and Security Agreement, dated as of December 24, 2008, between the
  Company and the Lender, as amended (together the "Loan Agreements"). The entering
  into of the Loan Agreements was disclosed in the Company's Form 8-K filed on
  January 7, 2009, and the subsequent amendments to the Loan Agreements were disclosed
  in the Company's Form 8-K filed on February 25, 2009. On June 4, 2009, the Company
  received notice that the Lender has agreed to waive the Company's non-compliance
  with the adjusted quick ratio covenant for the month of April. </font></p>
<p><font face="Times New Roman, Times, serif">Under the Loan Agreements, the Company
  must maintain minimum liquidity based upon an "adjusted quick ratio" calculated
  monthly. The minimum adjusted quick ratio required at April 30, 2009 was 0.90,
  which the Company failed to meet. The minimum adjusted quick ratio increased
  under the terms of the Loan Agreements to 0.90 from 0.75 at the end of March.
  The Company was in compliance at the end of March. To improve its financial
  liquidity, the Company has subsequently completed a private placement financing,
  as disclosed on the Company's Form 8-K filed on May 20, 2009. </font></p>
<p><font face="Times New Roman, Times, serif">The Company's failure to be in compliance
  with this covenant constitutes an event of default under each of the Loan Agreements.
  As a result of an event of default, the Lender may, among its remedies, declare
  all obligations under the Loan Agreements immediately due and payable. </font></p>
<p><font face="Times New Roman, Times, serif">The Company is currently in discussions
  with the Lender to amend the financial covenants under the Loan Agreements;
  however, there can be no assurance that any such amendment will be reached or
  that the Lender will grant any additional waivers in the case that the Company
  fails in the future to comply with the covenants in the Loan Agreement.</font></p>
<p>&nbsp;</p>
<p><font face="Times New Roman, Times, serif"><br>
  <br>
  </font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<hr>
<p style="PAGE-BREAK-BEFORE: always">
<p style="PAGE-BREAK-BEFORE: always">
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif"><b>SIGNATURES</b></font></p>
<p align="left"><font face="Times New Roman, Times, serif"><br>
  <br>
  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant
  has duly caused this report to be signed on its behalf by the undersigned hereunto
  duly authorized. <br>
  </font></p>
<dir>
  <dir>
    <dir>
      <dir>
        <dir>
          <blockquote>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <tr>
              <td>&nbsp;</td>
              <td>&nbsp;</td>
            </tr>
            <p align=left> </p>
            <tr valign="bottom"
align="left"></tr>
          </blockquote>
        </dir>
      </dir>
    </dir>
  </dir>
</dir>
<div align=left>
  <table height=135 cellspacing=0 cellpadding=0 width=96% align=left border=0>
    <tr>
      <td width=300><font face="Times New Roman, Times, serif"></font></td>
      <td width=21><font face="Times New Roman, Times, serif"></font></td>
      <td colspan="2"><font face="Times New Roman, Times, serif"><b>SOCKET MOBILE,
        INC.</b></font></td>
    </tr>
    <tr>
      <td width=300><font face="Times New Roman, Times, serif"></font></td>
      <td width=21><font face="Times New Roman, Times, serif"></font></td>
      <td colspan="2"><font face="Times New Roman, Times, serif"></font></td>
    </tr>
    <tr>
      <td width=300>
        <div align=left><font face="Times New Roman, Times, serif"></font></div>
      </td>
      <td width=21><font face="Times New Roman, Times, serif"></font></td>
      <td colspan="2"><font face="Times New Roman, Times, serif"></font></td>
    </tr>
    <tr>
      <td width=300 height=19>
        <div align=left><font face="Times New Roman, Times, serif">Date: June
          4, 2009</font></div>
      </td>
      <td width=21 height=19><font face="Times New Roman, Times, serif"></font></td>
      <td width=30 height=19><font face="Times New Roman, Times, serif">By: <u>/s/
        </u></font></td>
      <td width=379 height=19><font face="Times New Roman, Times, serif"><u>David
        W. Dunlap</u></font></td>
    </tr>
    <tr>
      <td width=300 height=40>
        <div align=left><font face="Times New Roman, Times, serif"></font></div>
      </td>
      <td width=21 height=40><font face="Times New Roman, Times, serif"></font></td>
      <td width=30 height=40>
        <blockquote>
          <div align="left"><font face="Times New Roman, Times, serif"></font></div>
        </blockquote>
      </td>
      <td width=379 height=40><font face="Times New Roman, Times, serif">Name:
        David W. Dunlap<br>
        Vice President, Finance and Administration <br>
        and Chief Financial Officer</font></td>
    </tr>
  </table>
</div>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p><font face="Times New Roman, Times, serif"><br>
  <br>
  </font></p>
<p>&nbsp;</p>
<p><font face="Times New Roman, Times, serif"><br>
  </font></p>
<hr>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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