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To: Taki who wrote (45)	9/24/2001 12:15:54 PM
From: RockyBalboa	of 47

Moribund WAVC did loan shark financing: biz.yahoo.com TORONTO--(BUSINESS WIRE)--Sept. 24, 2001-- WaveRider Communications Inc. (NASDAQ:WAVC - news), a leading global provider of fixed wireless Internet access products, today announced it has established a restructuring and refinancing plan to ensure the Company's ongoing viability and future growth. [ya] ...and implemented an immediate staff reduction. The Company has commitments to date for the purchase in excess of $500,000 of promissory notes by certain large shareholders, officers and directors of the Company of a planned $1,000,000 total offering. The promissory notes are repayable in one year, bear interest at 8% plus a premium of 15% upon repayment and are secured through a general security interest in the assets of the Company. Each purchaser also receives one common share purchase warrant per dollar of notes invested.

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