APC Telecommunications info you requested:
LONG TERM DEBT-
$127,541, excl. $42,968 curr. portion.
STOCK- Auth. Shs. Outstg. Shs.
Pfd. $0.001 par 25,000,000 *5,000,000
Com. $0.001 par 100,000,000 6,000,000
*Convertible into three Com. shs. for each sh. held. Subject to certain conversion conditions.
CORPORATE BACKGROUND
APC Telecommunications, Inc. plans to use new technologies to offer long distance telephone subscribers in Canada an alternative long-distance service which is routed over the Internet instead of the customary telephone network.
APC Telecommunications, Inc. is a development stage concern who plans to provide long-distance telephone and other services in the growing Internet telephone industry, and to resell traditional long distance telephone service. APC believes that it can offer long distance service at substantial savings over the traditional long-distance carriers, such as AT&T, Sprint and Bell Canada. APC has entered into a master franchise agreement with Access Power, Inc. (API) for
exclusive rights to market its unique Internet Technology throughout Canada.
Expansion of the business will take place from the deployment of gateways in major cities across Canada facilitating phone to phone long-distance calling using the Internet. APC will also offer traditional long-distance telephone service at highly competitive prices by purchasing and reselling long-distance from major carriers and will sell dial tone to businesses, both activities in which the company has significant experience. APC Telecom Inc., wholly owned,
plans to establish a significant market share using both traditional long distance and the power of the Internet. APC Telecom has entered into a strategic alliance with Datex Communications Corp. who has developed a billing program that will enable them to market their long distance package by guaranteeing their customers less than the lowest rate of the three major long distance carriers in Canada.
SUBSIDIARY- wholly owned- APC Telecom Inc.
EMPLOYEES- Oct. 1, 1998, 6.
INCORPORATED in Nev. Dec. 18, 1995 as Enefel 1001, Inc.; name changed to ProPaint Systems, Inc. in May, 1996; and present title adopted June 18, 1998. June 26, 1998, acquired APC Telecom Inc. for 5,000,000 Com. & 5,000,000 Ser. A Pfd. shs.
OFFICERS- Larry Hunt; President & Secy, Ron Crowe; V-P & Asst Secy, Rick Quinney; Chief Fin Officer.
DIRECTORS- R. G. Clarke, Ron Crowe, Larry Hunt, Rick Quinney.
OFFICE- 241 Applewood Crescent, Suite 4, Vaughan, Ontario, Canada, L4K4E6,(TEL.: 905-761-6880).
FAX- 905-761-7738.
STOCK DATA
COMMON VOTING POWER-
One vote per share.
VOTING POWER OF OTHER SECURITIES-
Ser. A Conv. Pfd. has one vote per share.
STOCKHOLDERS-
Oct. 1, 1998 (of record): Ser. A Pfd., 40; Com., 89. Rick Quinney owned or controlled 9.6% of the voting power; Merico Personal, Inc. 13.8% (898,438 Com. & 898,438 Pfd. shs.), and 1276579 Ontario Ltd. 19.2% (1,250,000 Com. & 1,250,000 Pfd. shs.).
TRANSFER AGENT & REGISTRAR- Interwest Stock Transfer, Inc., Salt Lake City, Utah.
TRADED- OTC Bulletin Board (Symbol APCI).
DIVIDENDS- None.
AUDITORS-KPMG Peat Marwick, Toronto, Ont., Can.
Note: Effective June 26 '98, APC Telecommunications Inc. (APC) issued 5,000,000 com. shs. and 5,000,000 pfd. shs. (apx. 83% of the outstanding shs. of APC) for all of the outstanding shs. of APC Telecom, Inc. (Telecom). Transaction was acctd. for as a reverse acquis., with Telecom being deemed the acquiring company. Results reflect the opers. of Telecom from its date of incorporation.
Subsequent to this transaction APC changed its fiscal yr. end to June 30 from Dec. 31. |
