Skybridge Wireless Inc · 10SB12G/A · On 12/15/99 ·
10SB12G/A
ITEM 1. DESCRIPTION OF BUSINESS
BACKGROUND
The Entertainment Internet, Inc. (The "Company") is a Nevada corporation formed
on January 20, 1992 as West Tech Services, Inc. The name was changed by the
Board of Directors on August 3, 1998. The Company's principal place of business
is located at 5757 Wilshire Blvd., Los Angeles, California 90036. The Company
was organized to engage in any lawful corporate business purpose. The Company
was in the developmental stage until approximately April 1999, at which time new
management began implementing the business plan of the Company.
The Company formed a wholly-owned subsidiary in California as a California
corporation, The Entertainment Internet, Inc. (TEI-CAL) to be the operating
Company. On March 23, 1999, TEI-CAL was merged with Only Multimedia Network,
Inc., a California corporation (OMNI), with OMNI being the surviving
corporation. The Company currently operates as the parent company for OMNI,
which has done business under the Castnet.com(TM) fictitious name since February
9, 1999. Use of the Castnet.com(TM) fictitious name by others has been alleged
to have resulted in trademark infringement, which is being investigated by the
Company.
When incorporated, the Company had authority to issue 25,000 shares of no-par
value stock. On April 3, 1998, the Articles of Incorporation of the Company were
amended to establish 60 million shares of stock, 50 million common and 10
million preferred. (See Amendment to Articles of Incorporation).
The Board of Directors has elected to begin implementing the Company's principal
business purpose, described below under "Item 2, Plan of Operation". As such,
the Company has become fully operational, expanding its basic Internet business
and seeking combinations with other businesses which will enhance the Company's
competitive ability and expand its operations into broader areas in both the
Internet and entertainment casting industries.
The Company is filing this registration statement on a voluntary basis, pursuant
to section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act"), in
order to ensure that public information is readily accessible to all
shareholders and potential investors, and to increase the Company's access to
financial markets. In the event the Company's obligation to file periodic
reports is suspended pursuant to the Exchange Act, the Company anticipates that
it will continue to voluntarily file such reports.
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