SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
____________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 2000
WORLD WIRELESS COMMUNICATIONS, INC.
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(Exact name of registrant as specified in its charter)
Nevada
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(State or other jurisdiction of incorporation)
333-38567 87-0549700
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(Commission File Number) (I.R.S. Employer Identification No.)
5670 Greenwood Plaza Boulevard, Suite 340, Englewood, Colorado 80111
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(Address of principal executive office)
303-221-1944
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(Registrant's telephone number, including area code)
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Item 1. Change in Control of Registrant
None.
Item 2. Acquisition or Disposition of Assets
None.
Item 3. Bankruptcy or Receivership
None.
Item 4. Change in Registrant's Certifying Accountant
None.
Item 5. Other Events
World Wireless Communications, Inc., a Nevada
corporation (the "Reporting Person"), is filing pursuant
to this Form 8-K the unaudited condensed consolidated balance
sheet of the Reporting Person as of March 31, 2000 in connection
with the Reporting Person's application to list its shares
of common stock for trading on the American Stock Exchange.
During the first quarter of 2000, the Reporting
Person raised gross proceeds of $13,646,000 from the sale
of 4,518,667 shares of its common stock to 45 accredited
investors in a private placement transaction exempt from
registration under the Securities Act of 1933, as amended.
Item 6. Registration of Registrant's Directors
None.
Item 7. Financial Statements and Exhibits
The unaudited condensed consolidated balance sheets of the
Reporting Person as of March 31, 2000 are included as an
exhibit hereinafter. Such balance sheets should be read in
conjunction with the audited financial statements and notes
thereto included in the annual report on Form 10-K filed for
the period ended December 31, 1999 which is hereby
incorporated herein by reference.
Item 8. Changes in Fiscal Year
None.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Reporting Person has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized:
WORLD WIRELESS COMMUNICATIONS, INC.
By: /S/ David D. Singer
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David D. Singer, President
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EXHIBIT INDEX
SEQUENTIAL
EXHIBIT NO. DESCRIPTION OF EXHIBIT PAGE NO.
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99.1 Unaudited condensed consolidated 4
balance sheet of the Reporting
person as of March 31, 2000.
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EXHIBIT N0. 99.1
WORLD WIRELESS COMMUNICATIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
<TABLE>
<CAPTION>
March 31, December 31,
2000 1999
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<S> <C> <C>
ASSETS
Current Assets
Cash and cash equivalents $ 8,886,709 $ 893,849
Investment in securities available-for-sale 195,605 130,403
Trade receivables, net of allowance for doubtful
accounts 440,726 723,355
Other receivables 58,052 584
Inventory 53,196 201,815
Prepaid expenses 65,180 10,924
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Total Current Assets 9,699,468 1,960,930
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Equipment, net of accumulated depreciation and
impairments 121,024 192,252
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Goodwill, net of accumulated amortization 342,860 385,718
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Other Assets, net of accumulated amortization 51,051 39,314
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Total Assets $10,214,403 $ 2,578,214
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(Continued)
</TABLE>
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WORLD WIRELESS COMMUNICATIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(UNAUDITED)
<TABLE>
<CAPTION>
March 31, December 31,
2000 1999
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<S> <C> <C>
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Trade accounts payable $ 312,466 $ 547,978
Accrued liabilities 378,423 338,112
Accrued lease obligation on abandoned office and
manufacturing facility 1,674,364 1,756,924
Notes payable 43,333 3,324,827
Obligation under capital leases - current portion 86,775 119,226
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Total Current Liabilities 2,495,361 6,087,067
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Long-Term Obligation Under Capital Leases 17,394 84,968
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Mandatorily Redeemable 10% Preferred Stock,
$0.001 par value; 1,000,000 shares authorized;
950 shares designated mandatorily redeemable;
0 and 950 shares issued and outstanding;
liquidation preference of $1,000,658 - 950,000
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Stockholders' Equity (Deficit)
Common stock - $0.001 par value; 50,000,000
shares authorized; issued and outstanding:
30,517,049 shares at March 31, 2000 and
21,250,015 shares at December 31, 1999 30,516 21,250
Additional paid-in capital 48,672,406 35,242,864
Unrealized gain on marketable equity securities 120,605 55,403
Unearned compensation (48,294) (48,294)
Receivable from shareholder (66,828) (66,828)
Accumulated deficit (41,006,757) (39,684,707)
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Total Stockholders' Equity (Deficit) 7,701,648 (4,480,312)
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Total Liabilities and Stockholders' Equity $ 10,214,403 $ 2,578,214
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</TABLE>
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WORLD WIRELESS COMMUNICATIONS, INC.
NOTE TO CONDENSED CONSOLIDATED BALANCE SHEETS
The accompanying condensed consolidated balance sheets are prepared
by the Company without review or audit by the Company's independent
certified public accountants. Certain information and note disclosure
normally included in financial statements prepared in accordance with
generally accepted accounting principles have been condensed or omitted.
These condensed consolidated balance sheets should be read in conjunction
with the audited financial statements and notes thereto included in the
annual report on Form 10-K filed for the period ended December 31, 1999.
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