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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-KSB
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 16, 1998
ELECTRONIC TRANSMISSION CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
22135 75-2578619
(Commission File Number) (I.R.S. Employer Identification Number)
5025 Arapaho Road, Suite 515, Dallas, Texas 75248
(Address of Principal Executive Offices) (Zip Code)
(972) 980-0900
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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INFORMATION INCLUDED IN REPORT ON FORM 8-KSB
ITEM 5. OTHER EVENTS.
TERMINATION OF L. CADE HAVARD
On February 16, 1998, the Board of Directors of Electronic Transmission
Corporation (the "Company") terminated L. Cade Havard as Chief Executive
Officer, President and Chairman of the Board of the Company citing
differences of opinion over the management and operational philosophy of the
Company. Mr. Havard submitted his resignation from the Board of Directors,
which resignation was effective on February 16, 1998. Also on February 16,
1998, the Board of Directors appointed W. Mack Goforth, the Company's Chief
Financial Officer, as Chief Executive Officer of the Company. On even date
therewith, Mr. Goforth was elected to the Board of Directors and appointed
Chairman thereof.
RESULTS OF SPECIAL MEETING OF STOCKHOLDERS HELD ON FEBRUARY 25, 1998
At the Special Meeting of Stockholders of the Company held on February
25, 1998, the following proposals were approved by the stockholders of the
Company.
PROPOSAL #1: To authorize an increase in the authorized shares of the
Company's common stock, par value $.001 per share, from
15,000,000 shares to 20,000,000 shares.
VOTES
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FOR: 10,919,559
AGAINST: 152,174
ABSTAINED: 154,043
PROPOSAL #2: To authorize a reverse stock split of the common stock such
that every four shares of outstanding common stock will be
exchanged for one share of common stock upon the effective
date of such reverse split.
VOTES
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FOR: 10,906,076
AGAINST: 198,657
ABSTAINED: 122,043
SIGNATURES
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.
ELECTRONIC TRANSMISSION CORPORATION
(Registrant)
By: /s/ W. Mack Goforth
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W. Mack Goforth, Chairman of the Board, Chief
Executive Officer and Chief Financial Officer
Dated: March 13, 1998
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