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Microcap & Penny Stocks : WaveRider WAVC NASDAQ ISP Wide Area Wireless Internet -- Ignore unavailable to you. Want to Upgrade?

To: zinger who wrote (1076)	7/1/1999 2:58:00 AM
From: Shumway	Read Replies (1) \| Respond to of 1848

WAVERIDER COMMUNICATIONS INC rpts change in assets, important event, financial statements & exhibits. Excerpted from 8-K filed on 06/30 by WAVERIDER COMMUNICATIONS INC: WAVERIDER COMMUNICATIONS INC rpts change in assets, important event, financial statements & exhibits. Item 2. Acquisition of Transformation Techniques Inc. On June 15, 1999, WaveRider Communications Inc. ("WaveRider" or the "Company"), finalized a merger agreement between Transformation Techniques, Inc. ("TTI") and a newly incorporated subsidiary, TTI Merger Inc. The new subsidiary subsequently changed its name to WaveRider Communications (USA) Inc. Under the terms of the merger agreement, WaveRider issued 256,232 shares of common stock, having a market value of $442,000 and paid $253,985 in cash on closing and will pay an additional $99,000, in monthly installments over the subsequent 11 months to Mr. Peter Bonk, the sole shareholder of TTI, and TTI was merged into TTI Merger Inc. Prior to the merger agreement Mr. Bonk had no shareholding in or affiliation with WaveRider. The cash portion of the purchase has been and will be paid from working capital. Of the cash proceeds, $94,985 was immediately paid by the former shareholder to the new subsidiary to retire an existing shareholder loan. TTI is a leader in the design and manufacture of wireless radio frequency communications systems, offering wireless data, bridging and LAN connectivity systems in both licensed and unlicensed frequencies. TTI has product design, manufacturing and head office facilities in Cleveland, Ohio as well as sales and support operations in San Diego, California and Baton Rouge, Louisiana. WaveRider intends to further develop TTI's existing sales and support infrastructure to increase its expansion into the US, in a new subsidiary, WaveRider Communications (USA) Inc. (End of item excerpt.) Item 5. Other Events The Company moved it's principal executive offices to 255 Consumers Road, Suite 500, Toronto, Ontario, Canada M2J 1R4. The Company's phone number has remained the same. (End of item excerpt.) Item 7. Financial Statements Financial Statements are not being presented as the merger does not meet the requirements necessary as outlined in Rule 3-05 of Regulation S-X Exhibits 10.1 Merger Agreement between WaveRider Communications Inc. and TTI Merger Inc. and Transformation Techniques, Inc. and Peter Bonk dated June 15, 1999. 10.2 Employment agreement between Mr. Peter Bonk and WaveRider Communications (USA) Inc, dated June 11, 1999. ------------------------------------------------------------------------ DISCLAIMER: The information provided through this news feed is excerpted from documents filed with the Securities and Exchange Commission (SEC) and should not be relied upon without review of the full documents filed with the SEC. In no event will Internet Financial Network, Inc., its officers, directors, employees, stockholders or agents, be liable to you or to any third party for any damages, costs or expenses arising or incurred in connection with any action taken or failure to act that is based upond the information contained in or omitted from this news feed or the documents filed with the SEC. ifn.com