UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended September 30, 2000
OR
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
For the transition period from ________ to ________
Commission file number 001-13999
HITCOM CORPORATION
(Exact Name of Small Business Issuer as Specified in Its Charter)
Delaware 87-0389677
(State or Other Jurisdiction (IRS Employer
of Incorporation or Organization) Identification No.)
2700 Dufferin Street, Unit 68
Toronto, Ontario, Canada M6B 3J3
(Address of Principal Executive Offices) (Zip Code)
Issuer's Telephone Number, Including Area Code (416) 785-4323
Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the
past 90 days.
YES [ ] NO [ X ]
State the number of shares outstanding of each of the issuer's common
equity, as of the latest practicable date: As of October 31, 2000 -
Class Shares Outstanding
Common Stock 6,617,544
Transitional Small Business Disclosure Format (check one):
YES [ ] NO [ X ]
85 Scarsdale Road, Suite 202, Toronto, Ontario, Canada M3B 2R2
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1 - Financial Statements
HITCOM CORPORATION
Condensed Consolidated Balance Sheet
September 30, 2000
(Unaudited, all amounts in US Dollars)
ASSETS
Current Assets:
Short-term deposits 7,714
Accounts receivable 44,708
--------------------------------------------------------------------------------
Total assets 52,422
--------------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued liabilities 689,684
Due to officers and directors 48,000
--------------------------------------------------------------------------------
Total current liabilities 737,684
--------------------------------------------------------------------------------
Convertible debenture 513,000
--------------------------------------------------------------------------------
Total liabilities 1,250,684
Commitments and contingencies
Shareholders' equity
Convertible preferred stock $.001 par value, liquidation preference
of $0.80 per share ($818,398 aggregate liquidation preference),
convertible into 0.25 shares of common stock; 5,000,000 authorized;
1,022,998 issued and outstanding 1,022
Common stock $.004 par value, 25,000,000 authorized;
12,462,297 issued; and 6,617,544 outstanding 49,849
Additional paid in capital 5,021,047
Deficit (4,499,133)
Treasury stock - at cost; 5,844,753 shares of common stock (1,771,047)
--------------------------------------------------------------------------------
(1,198,262)
--------------------------------------------------------------------------------
$ 52,422
--------------------------------------------------------------------------------
See accompanying notes to the condensed consolidated financial statements
--------------------------------------------------------------------------------
<PAGE>
HITCOM CORPORATION
Condensed Consolidated Statements of Operations
(Unaudited)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
Three-Month Period Nine-Month Period
Ended September 30, Ended September 30,
2000 1999 2000 1999
(All amounts in US Dollars) (All amounts in US Dollars)
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Net service revenues $ 78,531 $ - $ 128,139 $ -
Cost of services 55,486 - 91,169 -
--------------------------------------------------------------------------------------------------------------
Gross margin 23,045 - 36,970 -
--------------------------------------------------------------------------------------------------------------
Operating expenses:
Selling, general and administrative 82,959 27,877 151,074 91,568
--------------------------------------------------------------------------------------------------------------
Operating loss (59,914) (27,877) (114,104) (91,568)
Net interest expense (10,250) (10,121) (31,450) (27,242)
--------------------------------------------------------------------------------------------------------------
Loss from continuing operations (70,164) (37,998) (145,554) (118,810)
Loss from discontinued operations,
net of tax payable (2,317,602) (275,002) (2,801,210) (699,132)
--------------------------------------------------------------------------------------------------------------
Net loss $(2,387,766) $ (313,000) $(2,946,764) $ (817,942)
--------------------------------------------------------------------------------------------------------------
Basic loss per share
Loss from continuing operations $ (0.01) $ (0.01) $ (0.02) $ (0.01)
Income from discontinued operations (0.35) (0.02) (0.43) (0.06)
--------------------------------------------------------------------------------------------------------------
Net loss $ (0.36) $ (0.03) $ (0.45) $ (0.07)
--------------------------------------------------------------------------------------------------------------
Weighted average shares - basic 6,607,756 12,358,206 6,588,343 12,325,106
Weighted average shares - diluted 6,607,756 12,358,206 6,588,343 12,325,106
--------------------------------------------------------------------------------------------------------------
See accompanying notes to the condensed consolidated financial statements
--------------------------------------------------------------------------------------------------------------
</TABLE>
HITCOM CORPORATION
Condensed Consolidated Statements of Cash Flows
(Unaudited)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Three-Month Period Nine-Month Period
Ended September 30, Ended September 30,
2000 1999 2000 1999
(All amounts in US Dollars) (All amounts in US Dollars)
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Net loss $(2,387,766) $ (313,000) $(2,946,764) $ (817,942)
Adjustments to reconcile net loss to net cash used in
operating activities:
Amortization of goodwill - discontinued operations 3,164,845 99,942 3,364,731 299,827
Depreciation of property and equipment discontinued operations 28,079 30,256 75,074 97,454
Loss on disposal of property and equipment
- discontinued operations 209,472 - 209,472 -
Issuance of common shares for interest on convertible debenture - - 31,200 -
Issuance of common shares for services - - 20,000 15,322
Changes in assets and liabilities, excluding acquisition and disposal:
Accounts receivable, net 618,593 (72,443) 718,494 (174,105)
Inventory 21,465 12,435 28,961 (11,548)
Other current assets 52,518 (22,242) 47,843 (32,679)
Accounts payable and accrued liabilities (1,215,768) (13,668) (802,793) 382,108
Deferred revenue (381,162) 200,557 (748,285) 230,040
-----------------------------------------------------------------------------------------------------------------------------
Net cash provided by (used in) operating activities 110,277 (78,163) (2,067) (11,523)
-----------------------------------------------------------------------------------------------------------------------------
Investing activities:
Purchases of property and equipment - (20,340) (130,654) (136,836)
-----------------------------------------------------------------------------------------------------------------------------
Financing activities:
Repayment of capital leases (72,000) - (15,845) -
Redemption of short-term deposit 50,000 - 50,000 -
Increase (decrease) in revolving line of credit (106,796) - - 15,000
Increase in due to officers and directors 26,233 41,354 26,233 12,938
Repayment of bank term loan - (18,357) - (40,972)
-----------------------------------------------------------------------------------------------------------------------------
Net cash provided by financing activities (102,563) 22,997 60,388 (13,034)
-----------------------------------------------------------------------------------------------------------------------------
Net decrease in cash and cash equivalents 7,714 (75,506) (72,333) (161,393)
Cash and cash equivalents at beginning of period - 254,597 80,047 340,484
-----------------------------------------------------------------------------------------------------------------------------
Cash and cash equivalents at end of period $ 7,714 $ 179,091 $ 7,714 $ 179,091
-----------------------------------------------------------------------------------------------------------------------------
Supplemental disclosure of cash flow information
Cash paid for interest during the period $ - $ 4,371 $ 1,480 $ 20,116
Cash paid for income taxes during the period - - 10,000 -
Non Cash investing and financing activities:
Property and equipment acquired through proceeds from
capital lease - - 19,760 -
Conversion of preferred shares into common shares - - - 119
-----------------------------------------------------------------------------------------------------------------------------
See accompanying notes to the condensed consolidated financial statements
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
HITCOM CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
1. Basis of Presentation
The accompanying unaudited condensed consolidated financial statements of HitCom
Corporation and subsidiaries (collectively "the Company" or "HitCom") have been
prepared in accordance with generally accepted accounting principles for interim
financial reporting and Securities and Exchange Commission ("SEC") regulations.
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted pursuant to such rules and regulations. In the
opinion of management, the financial statements reflect all adjustments (of a
normal and recurring nature) which are necessary to present fairly the financial
position, results of operations, stockholders' equity and cash flows for the
interim periods.
The Company has sustained significant losses from operations since its
inception. Hitcom can no longer meet its obligations in the ordinary course of
business and is dependent upon its ability to raise additional financing through
public or private equity financings, enter into collaborative or other
arrangements with corporate sources, or secure other sources of financing to
fund its obligations.
Hitcom is also in default of its Convertible Subordinated Debentures as it does
not have the financial resources to pay the interest of $20,520 due on September
30, 2000. The debentures were issued on October 1, 1998 and are due on October
1, 2003, bearing interest at 8% per annum, payable semi-annually. They are
unsecured general obligations of the Company which are subordinated in right of
payment. The debenture may be converted at the option of the holder into
fully-paid and non-assessable shares of Common Stock of the Company at a
conversion price of $0.50 per share (equivalent to a conversion rate of 2000
shares per $1,000 principal amount of debenture).
The Company's primary operating subsidiary Channel Telecom Inc. ("Channel")
seized operations in November 2000. Channel sustained significant losses and was
no longer able to meet its obligations. Channel's banker canceled the Company's
operating credit facility. Therefore, Channel's operations are reflected as
discontinued operations in the accompanying condensed consolidated financial
statements. Channel's liabilities significantly exceeded its assets and are not
reflected in the accompanying condensed consolidated financial statements.
Management intends to raise working capital through additional equity and/or
debt financings in the upcoming year. However, there can be no assurance that
such financings can be successfully completed on terms acceptable to the Company
or at all. All efforts at raising additional equity and/or debt financings have
so far been unsuccessful.
These unaudited condensed consolidated financial statements should be read in
conjunction with the audited financial statements and notes thereto for the year
ended December 31, 1999, as set forth in HitCom's Annual Report on Form 10-KSB.
The results for the nine-months ended September 30, 2000, are not necessarily
indicative of the results that may be expected for the year ending December 31,
2000. All amounts presented are in US dollars.
2. NATURE OF BUSINESS
HitCom Corporation and its subsidiary (collectively referred to as "Hitcom" or
the "Company") is a telecommunication Company providing long distance
telecommunication services primarily in Canada.
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation
The consolidated financial statements include the accounts of the Company and
its wholly-owned subsidiary. All intercompany accounts and transactions have
been eliminated on consolidation.
Use of Estimates in Preparation of Financial Statements
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States, requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements, and reported amounts of revenues and expenses during the reported
period with consideration given to materiality. Actual results could differ from
those estimates.
Revenue Recognition
The Company's revenue originates from customer usage of long distance services
which is billed to the customer on a monthly basis. Revenue is recognized as
invoice is issued.
4. EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings
(loss) per share:
<TABLE>
<CAPTION>
Three-Month Period Six-Month Period
Ended September 30, Ended September 30,
2000 1999 2000 1999
<S> <C> <C> <C> <C>
Numerator:
Net loss available to common shareholders $(2,387,766) $ (313,000) $(2,946,764) $ (817,942)
Denominator:
Denominator for basic earnings (loss) per share -
weighted-average shares 6,607,756 12,358,206 6,588,343 12,325,613
Dilutive potential common shares - Adjusted
weighted-average shares and assumed conversions 6,607,756 12,358,206 6,588,343 12,325,613
-----------------------------------------------------------------------------------------------------------
Basic and diluted earnings (loss) per share: $ (0.36) $(0.03) $(0.45) $(0.07)
-----------------------------------------------------------------------------------------------------------
</TABLE>
Employee stock options, convertible preferred stock, convertible debentures and
warrants, are not presented for the years ended December 31, 2000 and 1999,
because they are anti-dilutive due to the net loss available to common
shareholders.
5. SEGMENTED INFORMATION
At September30, 2000, Hitcom is operating in only one business segment, long
distance services.
<PAGE>
ITEM 2 - Management's Discussion and Analysis of Financial
Condition and Results of Operation
Overview
The Company principally derives its revenues from long distance
telecommunication services primarily in Canada. The services are provided
through its subsidiary Hitcom Inc. which was just launched in January 2000.
Consumers can use the Hitcom long distance service to place long distance calls
from their home or office at rates that are generally lower than the standard
plan rates currently charged by the major telecommunication carriers such as
Bell Canada, Sprint and Primus. The long distance plans are based on a per
minute basis which vary according to the country dialed. Consumers access the
Hitcom long distance service by dialing a local number and then dialing their
destination number. There is no need to enter a PIN number. Customers are then
billed on a monthly basis.
Results of Operation
THREE MONTHS ENDED SEPTEMBER 30, 2000 COMPARED TO THREE MONTHS ENDED
SEPTEMBER 30, 1999
Revenue
Total revenue was $78,531 in the third quarter of 2000. There was no revenue for
the same period in 1999 as the service was launched in 2000. Revenues in the
second quarter of 2000 were approximately $35,000.
Cost of Services:
Cost of services primarily includes payments to other carriers for origination,
transport and termination of international and domestic long distance traffic.
Cost of services was 71% of revenue ($55,486) in the third quarter of 2000.
There was no cost of services expense for the same period in 1999 as the service
was launched in 2000.
Selling General & Administrative (SG&A):
SG&A expenses increased to $82,959 in the third quarter of 2000 from $27,877 for
the same period in 1999.
Net Interest Expense (income):
Net interest expense was $10,250 in the third quarter of 2000 as compared to net
interest expense of $10,121 for the same period in 1999. Interest expense was
primarily due to the convertible debenture bearing interest at 8% per annum.
Discontinued Operations
In November 2000, the Company's primary subsidiary Channel Telecom
Inc.("Channel") seized operations. Channel sustained significant losses and was
no longer able to meet its obligations. Channel's banker canceled the Company's
operating credit facility. Therefore, Channel's operations are reflected as
discontinued operations in the accompanying condensed consolidated financial
statements.
Channel's liabilities significantly exceeded its assets and are not reflected in
the accompanying condensed consolidated financial statements.
In December 1999, the Company completed the sale of certain assets and
liabilities that were primarily related to One Plus Marketing, Inc. (One Plus)
to a former officer, director and major shareholder of the Company. The Company
also received 5,837,503 shares of Hitcom's common stock from the purchaser which
has been returned to treasury and has therefore reduced the outstanding number
of common stock in Hitcom. The transaction was recorded at carrying value and
the resulting gain has been recorded directly to additional paid in capital. The
disposal of the One Plus segment is reflected as discontinued operations in the
accompanying condensed consolidated financial statements.
Expenses and associated overhead net of revenue earned from these operations,
was a loss of $2,317,602 for the quarter ended September30, 1999 as compared to
a loss of 275,002 for the same period in 1999. The loss in 2000 includes
$3,164,845 in write-off of Goodwill for Channel's acquisition in 1998.
Net loss
Net loss for the third quarter of 2000, increased to $2,387,766 as compared to
$313,000 for the same period in 1999. The increased net loss was primarily due
to write-off of Goodwill relating to Channel.
LIQUIDITY AND CAPITAL RESOURCES
Need for Additional Capital to Meet Obligations
The Company has sustained significant losses from operations since its
inception. Hitcom can no longer meet its obligations in the ordinary course of
business and is dependent upon its ability to raise additional financing through
public or private equity financings, enter into collaborative or other
arrangements with corporate sources, or secure other sources of financing to
fund its obligations.
Hitcom is also in default of its Convertible Subordinated Debentures as it does
not have the financial resources to pay the interest of $20,520 due on September
30, 2000. The debentures were issued on October 1, 1998 and are due on October
1, 2003, bearing interest at 8% per annum, payable semi-annually. They are
unsecured general obligations of the Company which are subordinated in right of
payment. The debenture may be converted at the option of the holder into
fully-paid and non-assessable shares of Common Stock of the Company at a
conversion price of $0.50 per share (equivalent to a conversion rate of 2000
shares per $1,000 principal amount of debenture).
The Company's main operating subsidiary Channel Telecom Inc. ("Channel") seized
operations in November 2000. Channel sustained significant losses and was no
longer able to meet its obligations. Channel's banker canceled the Company's
operating credit facility in October 2000.
Management intends to raise working capital through additional equity and/or
debt financings in the upcoming year. However, there can be no assurance that
such financings can be successfully completed on terms acceptable to the Company
or at all. All efforts at raising additional equity and/or debt financings have
so far been unsuccessful.
Cash and cash equivalents at September 30, 2000 increased to $7,714 from $nil at
June 30, 2000. Cash provided by operating activities in the third quarter of
2000 was $110,860 as compared to cash utilized $78,163 for the same period in
1999.
Cash used for capital expenditures in the third quarter of 2000 was $nil as
compared to $20,340 for the same period in 1999.
Cash repayments from financing activities in the third quarter of 2000 were
$102,563 as compared to proceeds of $22,997 for the same period in 1999.
<PAGE>
NINE MONTHS ENDED SEPTEMBER 30, 2000 COMPARED TO NINE MONTHS ENDED
SEPTEMBER 30, 1999
Revenue
Total revenue was $128,139 in the nine-month period ended September 30, 2000.
There was no revenue for the same period in 1999 as the service was launched in
2000.
Cost of Services:
Cost of services primarily includes payments to other carriers for origination,
transport and termination of international and domestic long distance traffic.
Cost of services was 71% of revenue ($91,169) in the nine-month period ended
September 30, 2000. There was no cost of services expense for the same period in
1999 as the service was launched in 2000.
Selling General & Administrative (SG&A):
SG&A expenses increased to $151,074 in the third quarter of 2000 from $91,568
for the same period in 1999.
Net Interest Expense (income):
Net interest expense was $31,450 in the nine-month period ended September 30,
2000 as compared to net interest expense of $27,242 for the same period in 1999.
Interest expense was primarily due to the convertible debenture bearing interest
at 8% per annum.
Discontinued Operations
In November 2000, the Company's primary subsidiary Channel Telecom
Inc.("Channel") seized operations. Channel sustained significant losses and was
no longer able to meet its obligations. Channel's banker canceled the Company's
operating credit facility. Therefore, Channel's operations are reflected as
discontinued operations in the accompanying condensed consolidated financial
statements.
Channel's liabilities significantly exceeded its assets and are not reflected in
the accompanying condensed consolidated financial statements.
In December 1999, the Company completed the sale of certain assets and
liabilities that were primarily related to One Plus Marketing, Inc. (One Plus)
to a former officer, director and major shareholder of the Company. The Company
also received 5,837,503 shares of Hitcom's common stock from the purchaser which
has been returned to treasury and has therefore reduced the outstanding number
of common stock in Hitcom. The transaction was recorded at carrying value and
the resulting gain has been recorded directly to additional paid in capital. The
disposal of the One Plus segment is reflected as discontinued operations in the
accompanying condensed consolidated financial statements.
Expenses and associated overhead net of revenue earned from these operations,
was a loss of $2,801,210 for the nine-months period ended September30, 1999 as
compared to a loss of 699,132 for the same period in 1999. The loss in 2000
includes $3,364,731 in write-off of Goodwill for Channel's acquisition in 1998.
Net loss
Net loss for the nine-months period ended September 30, 2000 increased to
$2,946,764 from $817,942 for the same period in 1999.
LIQUIDITY AND CAPITAL RESOURCES
Need for Additional Capital to Meet Obligations
The Company has sustained significant losses from operations since its
inception. Hitcom can no longer meet its obligations in the ordinary course of
business and is dependent upon its ability to raise additional financing through
public or private equity financings, enter into collaborative or other
arrangements with corporate sources, or secure other sources of financing to
fund its obligations.
Hitcom is also in default of its Convertible Subordinated Debentures as it does
not have the financial resources to pay the interest of $20,520 due on September
30, 2000. The debentures were issued on October 1, 1998 and are due on October
1, 2003, bearing interest at 8% per annum, payable semi-annually. They are
unsecured general obligations of the Company which are subordinated in right of
payment. The debenture may be converted at the option of the holder into
fully-paid and non-assessable shares of Common Stock of the Company at a
conversion price of $0.50 per share (equivalent to a conversion rate of 2000
shares per $1,000 principal amount of debenture).
The Company's main operating subsidiary Channel Telecom Inc. ("Channel") seized
operations in November 2000. Channel sustained significant losses and was no
longer able to meet its obligations. Channel's banker canceled the Company's
operating credit facility in October 2000.
Management intends to raise working capital through additional equity and/or
debt financings in the upcoming year. However, there can be no assurance that
such financings can be successfully completed on terms acceptable to the Company
or at all. All efforts at raising additional equity and/or debt financings have
so far been unsuccessful.
Cash and cash equivalents at September 30, 2000 decreased to $7,714 from $80,047
at December 31, 1999. Cash used by operating activities in the nine-months
period ended September 30, 2000 was $2,067 as compared to $11,523 for the same
period in 1999.
Cash used for capital expenditures in the nine-months period ended September30,
2000 was $130,654 as compared to $136,83 for the same period in 1999. Capital
expenditures were for the continued expansion of the carrier class switch due to
the growth in revenues and building of VoIP gateways to reduce cost of services.
Cash proceeds from financing activities in the nine-months period ended
September30, 2000 were $60,388 as compared to repayments of $13,034 for the same
period in 1999.
<PAGE>
PART II
OTHER INFORMATION
Item 1 - Legal Proceedings
None.
Item 2 - Changes in Securities and Use of Proceeds
None.
Item 3 - Defaults Upon Senior Securities
Hitcom is in default of its Convertible Subordinated Debentures as it does not
have the financial resources to pay the interest of $20,520 due on September 30,
2000. The debentures were issued on October 1, 1998 and are due on October 1,
2003, bearing interest at 8% per annum, payable semi-annually. They are
unsecured general obligations of the Company which are subordinated in right of
payment. The debenture may be converted at the option of the holder into
fully-paid and non-assessable shares of Common Stock of the Company at a
conversion price of $0.50 per share (equivalent to a conversion rate of 2000
shares per $1,000 principal amount of debenture).
Item 4 - Submission of Matters to a Vote of Security Holders
None.
Item 5 - Other Information
None.
Item 6 - Exhibits and Reports on Form 8-K
A. Exhibits
3.1* Certificate of Incorporation, as amended
3.2* Bylaws
4.1* Certificate of Designation for 8% Convertible Preferred Stock
10.1* Share Exchange Agreement Between HitCom Corporation and Scott Beil
dated April 14, 1997
10.2* Stock Purchase Agreement Between HitCom Corporation and Rajan
Arora/Jeffrey Shier and The Jeffrey Samuel Shier Family Trust For
Purchase of All Outstanding Stock of Channel Telecom Inc. dated
February 18, 1999
10.4** Letter agreement between the registrant, Rajan Arora and Jeffrey
Shier dated June 30, 1999 regarding forgiveness of indebtedness.
10.5** Stock Purchase Agreement between Scott A. Beil and registrant dated
August 10, 1999 regarding 20% minority interest in One Plus Marketing,
Inc.
10.6** Letter agreement between registrant and Scott A. Beil dated August
11, 1999 regarding voting of stock in registrant.
10.7*** Assets purchase agreement by and between Hitcom Corporation and Scott
A. Beil
10.8*** Assets purchase agreement by and between One Plus Marketing, Inc.
and Scott A. Beil
21.1* List of Subsidiaries of Registrant
27.0 Financial Data Schedule
* Filed as exhibit to the Company's Registration Statement on Form 10-SB
** Filed as Exhibit to the Company's Quarterly Report on Form 10-QSB
for the quarter ended September 30, 1999
*** Filed as Exhibit to the Company's AnnualReport on Form 10-KSB for the
year ended December 31, 2000
B. Form 8-K filings
There were no 8-K filings in the quarter.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
HITCOM CORPORATION
(Registrant)
By: /s/ Rajan Arora
Rajan Arora
President and CEO
Date: December 23, 2000
