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Prospectus Supplement No. 1
Dated August 23, 1999 (to Prospectus dated August 13, 1999)
SkyLynx Communications, Inc.
This Prospectus Supplement is part of the Prospectus dated August 13,
1999 relating to an offering of up to 9,996,954 shares of our common stock by
persons who were issued common stock in connection with our capital raising
activities or have been or will be issued common stock upon conversion of
shares of our series B, series D and series E convertible preferred stock or
upon exercise of warrants to purchase our common stock.
Settlement of Gordon Litigation.
We and Gary Brown, our former President and Chief Executive Officer, have
entered into a settlement agreement with James F. Gordon with respect to Mr.
Gordon's claims against us and Mr. Brown made in James Gordon v. Gary Brown
and SkyLynx Communications, Inc. (Circuit Court for the Twelfth Judiciary
Circuit in and for Sarasota County, Florida, Case No. 98-6394-CC). The
settlement agreement provides that, in consideration for shares of the common
stock of Teleservices International Group, Inc. Mr. Gordon previously
delivered to us, we will issue Mr. Gordon an aggregate of 115,000 shares of
our common stock, and Mr. Brown will transfer to Mr. Gordon an aggregate of
20,000 shares of our common stock Mr. Brown currently holds. The agreement
additionally provides that the shares we issue to Mr. Gordon under the
agreement will be deemed to have been paid for by Mr. Gordon as of September
7, 1998, the date he delivered the Teleservices shares to us. Under the
agreement, the parties agreed to mutually release each other from all previous
claims and causes of action, and to dismiss the claims and counterclaims
previously filed against each other.
The date of this Prospectus Supplement No. 1 is August 23, 1999.
SECOND QUARTER 1999 RESULTS
A copy of our Quarterly Report on Form 10-QSB for the fiscal quarter
ended June 30, 1999, is attached hereto.
