<PAGE>
THIS DOCUMENT IS A COPY OF THE FORM 8-K/A FILED ON SEPTEMBER 19, 2000 PURSUANT
TO A RULE 201 TEMPORARY HARDSHIP EXEMPTION.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 18, 2000 (Amending
Form 8-K filed on July 12, 2000
SUNGLOBE FIBER SYSTEMS CORPORATION.
----------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Nevada 2-70345-NY 88-0182534
------------------------------- ------------------------ -------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1550 Sawgrass Corporate Parkway, Suite 370 Sunrise, Florida 33323
-----------------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
</TABLE>
Registrant's telephone number, including area code (954) 838-0527
----------------
<PAGE>
This Form 8-K/A amends the Form 8-K filed on July 12, 2000 by SunGlobe Fiber
Systems Corporation, a Nevada corporation formerly known as TimeOne, Inc (the
"Company"). The Form 8-K related to the acquisition by the Company of a Delaware
corporation, formerly known as SunGlobe Fiber Systems Corporation, which is
currently a subsidiary of the Company under the name SG Fiber Co. ("Old SunGlobe
Fiber"). The purpose of this amendment to Form 8-K is to provide financial
statements and the pro forma financial information for Old SunGlobe Fiber as
required by Item 7 of Form 8-K.
Item 5. Other Events.
Our subsidiary, Old SunGlobe Fiber, acquired pursuant to the Merger
Agreement, dated June 29, 2000 among TimeOne, Inc., SunGlobe Acquisition, Inc.
and Old SunGlobe Fiber, was formerly known as SunGlobe Fiber Systems Corporation
and changed its name to SGFS, Inc. on July 6, 2000 and subsequently changed its
name to SG Fiber Co. on July 11, 2000.
We are a party to a Construction and Maintenance Agreement (the "C&M
Agreement") for the Maya-1 Cable System under which we will purchase a 0.67%
ownership interest in Maya-1 and contribute to its development costs. Maya-1 is
a fiber optic submarine cable system designed to provide terrestrial
telecommunications capacity to the Caribbean region. On October 5, 2000, we are
scheduled to make a capital payment to Maya-1 of approximately $1,161,000 as our
contribution to the development costs of the system pursuant to a capital call
under the C&M Agreement. We are in the process of seeking to secure a term loan
and/or other financing to enable us to meet this obligation. The Maya-1 system
is scheduled to become operational in the third quarter of 2000.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial statements of Businesses Acquired.
Audited consolidated balance sheets of Old SunGlobe Fiber (a
development stage company known for purposes of this section as SunGlobe Fiber
Systems Corporation) as of June 30, 2000 and the related consolidated statements
of operations, stockholder's equity (deficit) and cash flows for the period from
March 3, 2000 (date of inception) through June 30, 2000.
<PAGE>
CONSOLIDATED FINANCIAL STATEMENTS
AND REPORT OF INDEPENDENT
CERTIFIED PUBLIC ACCOUNTANTS
SUNGLOBE FIBER SYSTEMS CORPORATION
AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
JUNE 30, 2000
CONTENTS
<TABLE>
<CAPTION>
Page
<S> <C>
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS F-1
FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEET F-2
CONSOLIDATED STATEMENT OF OPERATIONS F-3
CONSOLIDATED STATEMENT OF SHAREHOLDER'S EQUITY F-4
CONSOLIDATED STATEMENT OF CASH FLOWS F-5
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS F-6 - 9
PRO FORMA FINANCIAL INFORMATION (UNAUDITED)
UNAUDITED PRO FORMA FINANCIAL INFORMATION F-10
PRO FORMA BALANCE SHEET (UNAUDITED) F-11
PRO FORMA STATEMENT OF OPERATIONS (UNAUDITED) F-12
PRO FORMA ADJUSTMENTS (UNAUDITED) F-13
</TABLE>
2
<PAGE>
REPORT OF INDEPENDENT
CERTIFIED PUBLIC ACCOUNTANTS
Board of Directors and Shareholders
SunGlobe Fiber Systems Corporation
We have audited the accompanying consolidated balance sheet of SunGlobe Fiber
Systems Corporation and Subsidiary (A Development Stage Company) as of June 30,
2000 and the related consolidated statements of operations, shareholder's
deficit and cash flows for the period from March 3, 2000 (date of inception)
through June 30, 2000. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the consolidated financial position of SunGlobe Fiber
Systems Corporation and Subsidiary (A Development Stage Company) as of June 30,
2000, and the consolidated results of their operations and their consolidated
cash flows for the period from March 3, 2000 (date of inception) through June
30, 2000, in conformity with accounting principles generally accepted in the
United States.
/s/ GRANT THORNTON LLP
Miami, Florida
September 11, 2000
F-1
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED BALANCE SHEET
JUNE 30, 2000
<TABLE>
<S> <C>
ASSETS
Current assets
Cash $ 23,668
Fixed assets
Equipment, net 19,273
----------
Total assets $ 42,941
==========
LIABILITIES AND SHAREHOLDERS' DEFICT
Current liabilities
Accounts payable and accrued liabilities $ 203,501
Note payable and accrued interest 205,310
Related party payable 86,213
----------
Total current liabilities 495,024
Shareholders' deficit
Common stock, par value $0.01; 1,000 shares
authorized, 100 issued and outstanding 1
Additional paid-in capital 99
Accumulated deficit during the development stage (452,183)
----------
(452,083)
----------
$ 42,941
==========
</TABLE>
The accompanying notes are an integral part of this statement.
F-2
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE PERIOD FROM MARCH 3, 2000 (DATE OF INCEPTION)
THROUGH JUNE 30, 2000
<TABLE>
<S> <C>
Revenues $ -
---------
Expenses
General and administrative 265,547
Legal fees 180,079
Depreciation expense 1,247
---------
Loss from operations (446,873)
Interest expense 5,310
---------
Loss before income tax benefit (452,183)
Income tax benefit -
---------
Net loss $(452,183)
=========
</TABLE>
The accompanying notes are an integral part of this statement.
F-3
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF SHAREHOLDER'S DEFICIT
FOR THE PERIOD FROM MARCH 3, 2000 (DATE OF INCEPTION)
THROUGH JUNE 30, 2000
<TABLE>
<CAPTION>
Common Stock Additional
------------------------- Paid-In Accumulated
Shares Amount Capital Deficit Total
------ ------ ------- ------- -----
<S> <C> <C> <C> <C> <C>
Balance at March 3, 2000
(date of inception) 100 $ 1 $ 99 $ - $ 100
Net loss - - - (452,183) (452,183)
--------- --------- --------- ---------- ----------
Balance at June 30, 2000 100 $ 1 $ 99 $ (452,183) $ (452,083)
========= ========= ========= ========== ==========
</TABLE>
The accompanying notes are an integral part of this statement.
F-4
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD FROM MARCH 3, 2000 (DATE OF INCEPTION)
THROUGH JUNE 30, 2000
<TABLE>
<S> <C>
Cash flows from operating activities:
Net loss $(452,183)
Adjustments to reconcile net loss to net cash
used in operating activities:
Depreciation expense 1,247
Changes in assets and liabilities:
Increase in accounts payable 203,501
Increase in related party payable 86,213
----------
Net cash used in operating activities (161,222)
----------
Cash flows from investing activities:
Purchase of equipment (20,520)
----------
Net cash used in investing activities (20,520)
----------
Cash flows from financing activities:
Proceeds from stock issuance 100
Proceeds from notes payable 205,310
----------
Net cash provided by financing activities 205,410
----------
Net increase in cash and cash equivalents 23,668
Cash and cash equivalents - beginning of period -
----------
Cash and cash equivalents - end of period $ 23,668
==========
Supplemental disclosure of cash flow information:
Cash paid during the year for:
Interest $ -
============
Taxes $ -
============
</TABLE>
The accompanying notes are an integral part of this statement.
F-5
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD FROM MARCH 3, 2000 (DATE OF INCEPTION)
THROUGH JUNE 30, 2000
NOTE A - NATURE OF COMPANY'S DEVELOPMENT STAGE ACTIVITIES
SunGlobe Fiber Systems Corporation and Subsidiary (the "Company") was
originally incorporated as a Delaware corporation on March 3, 2000. The
Company is in the fiber optics telecommunications industry and has recently
entered into an agreement with Maya-1 Cable System Project ("Maya-1"). The
Maya-1 agreement calls for the Company to purchase a 0.67% ownership
interest and make a pro rata contribution to the development costs of
the system based on its ownership percentage. Maya-1 will provide fiber
optics telecommunications capacity between the United States, Mexico,
Honduras, Costa Rica, Panama, Colombia and the Cayman Islands. The system
is currently scheduled to become operational in the third quarter of 2000.
(See Note G).
The Company has no revenues to date from Maya-1 and expects to continue to
incur significant development, construction, sales, marketing, and
administrative expenses before any significant revenues are achieved. The
Company will be subject to federal, state and local regulation in the
United States and abroad to obtain rights to utilize underground conduit
and aerial pole space and other rights-of-way, as well as, fiber and
satellite capacity from other entities.
The fiber optic and satellite systems being utilized by the Company are
designed to provide continued service for periods in excess of 15 years
with no major technological changes. It is understood that the technology
used within the fiber and satellite system will significantly change over
that period, but equipment purchased in 2000 will be able to support
service into the future.
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
General and Principles of Consolidation
The consolidated financial statements include the accounts of the Company
and its wholly-owned subsidiary Island Sun Communications Corporation. All
significant intercompany balances and transactions are eliminated in
consolidation.
At June 30, 2000, the Company was wholly-owned by SunGlobe Telecom, Inc.
F-6
<PAGE>
(continued)
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
Income Taxes
The Company records deferred income taxes using the liability method. Under
the liability method, deferred tax assets and liabilities are recognized
for the expected future tax consequences of temporary differences between
the financial statement and income tax bases of the Company's assets and
liabilities. An allowance is recorded, based on currently available
information, when it is more likely than not that any or all of a deferred
tax asset will not be realized.
Cash and Cash Equivalents
For financial statement purposes, the Company considers all highly liquid
investments with an original maturity of three months or less when
purchased to be cash equivalents.
Property and Equipment
Property and equipment are stated at cost net of accumulated depreciation
and amortization. Depreciation is calculated using the straight-line basis
method over the useful life of the assets are as follows:
<TABLE>
<CAPTION>
Years
-----
<S> <C>
Computer Equipment 5
Telecommunications equipment 15
Office Furniture 7
</TABLE>
Estimates
In preparing financial statements in conformity with generally accepted
accounting principles, management makes estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of
contingent assets and liabilities at the date of the financial statements,
as well as the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
NOTE C - NOTE PAYABLE
At March 16, 2000, the Company obtained a $200,000 unsecured loan from
TimeOne, Inc. bearing interest at the prime rate. The maturity date of the
note was May 31, 2000. The note and accrued interest were cancelled
subsequent to June 30, 2000 as part of the transaction on July 3, 2000
described in Note H.
F-7
<PAGE>
NOTE D - PROPERTY AND EQUIPMENT
Property and equipment are summarized as follows:
<TABLE>
<S> <C>
Computer Equipment $ 13,558
Telecommunication equipment 4,990
Office Furniture 1,972
---------------
20,520
Accumulated depreciated and amortization (1,247)
---------------
$ 19,273
===============
</TABLE>
NOTE E - RELATED PARTY TRANSACTIONS
On March 14, 2000, the Company signed a management agreement with SunGlobe
Telecom, Inc., the Company's parent, for $25,000 a month to pay for office
space, equipment and personnel. The agreement was for 90 days renewed on a
month-to-month basis. In August 2000, this agreement was modified to
include bookkeeping and Web hosting coordination and increased to $45,000 a
month. The term of the new agreement is 90 days and automatically renewed
unless cancellation is received in writing by the 20th day of the prior
month. Total expenses to SunGlobe Telecom for the period ended June 30,
2000 were $95,000. The amount owed by the Company to SunGlobe Telecom was
$82,514 as of June 30, 2000. The balance includes $32,514 of legal expenses
paid by SunGlobe Telecom on behalf of the Company.
An executive of the Company made a loan for $3,700 during the period ended
June 30, 2000 to Island Sun Communication Corporation, a wholly-owned
subsidiary of the Company. There was no written agreement supporting the
loan, terms or repayment.
NOTE F - INCOME TAX
The Company has no current income tax expense or benefit as a result of a
net tax operating loss for the period ending June 30, 2000. The Company has
not recorded a deferred tax expense or benefit because of a valuation
allowance which completely provides for the deferred tax asset.
Deferred income taxes and benefits are provided for significant income and
expense items recognized in different years for tax and financial reporting
purposes. Temporary differences that give rise to significant deferred tax
assets or (liabilities) are shown as follows:
<TABLE>
<S> <C>
Start-up cost $ 24,200
Net operating loss 76,300
---------------
Total deferred taxes 100,500
Less valuation allowance (100,500)
---------------
Net deferred income tax $ -
===============
</TABLE>
F-8
<PAGE>
The Company has net operating loss carryforwards for tax purposes of
approximately $200,000, which will expire beginning in the year 2020.
NOTE G - COMMITMENTS AND CONTINGENCIES
The Company has capital commitments of approximately $1,161,000 relating to
construction and development costs incurred on the Maya-1 project through
August 21, 2000. In addition, the Company is responsible for a share of the
operation and maintenance costs of the system.
NOTE H - SUBSEQUENT EVENT
On July 3, 2000, the Company completed a merger with TimeOne, Inc. The
merger was effected by the Company selling all of its outstanding capital
stock in exchange for 8,083,292 newly issued shares of TimeOne, Inc.'s
common stock. For accounting purposes, the acquisition will be treated as a
recapitalization of the Company with the Company as the acquirer. The name
of TimeOne, Inc. was changed to SunGlobe Fiber Systems Corporation
effective on July 6, 2000. The Company, a subsidiary of SunGlobe Fiber
Systems Corporation, changed its name to SGFS Inc., on July 6, 2000 and
subsequently changed its name to SG Fiber Co. effective July 11, 2000.
The Company did not recognize any gain or loss as a result of the merger.
In connection with the merger, SunGlobe Telecom, Inc., the sole shareholder
of the Company prior to the merger, has an agreement to give 404,165 shares
of the above mentioned newly issued shares to a third party as a finder's
fee. SunGlobe Fiber Systems Corporation paid $75,000 in cash to a third
party as a finder's fee in connection with the merger.
F-9
<PAGE>
(b) Pro Forma Financial Information.
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
UNAUDITED PRO FORMA FINANCIAL INFORMATION
The following Unaudited Pro Forma Financial Information gives effect to the
merger of Old SunGlobe Fiber (known for purposes of this section as SunGlobe
Fiber Systems Corporation) and TimeOne, Inc. as if it had been consummated: (i)
on June 30, 2000, in the case of the Unaudited Pro Forma Balance Sheet; and (ii)
on March 3, 2000, the date of incorporation of SunGlobe Fiber Systems
Corporation, in the case of the Unaudited Pro Forma Statements of Operations for
the period from March 3, 2000 (the date of incorporation) through June 30, 2000.
The following Unaudited Pro Forma Financial Information is presented for
illustrative purposes only and does not purport to be indicative of the
Company's actual financial position or results of operations as of the date
hereof, or as of or for any other future date, and is not necessarily indicative
of what the Company's actual financial position or results of operations would
have been had the transactions been consummated on the above-referenced dates,
nor does it give effect to (i) any transactions other than the transactions and
those described in the adjustments to the Unaudited Pro Form Financial
Information or (ii) SunGlobe Fiber Systems Corporation's results of operations
since June 30, 2000.
The following Unaudited Pro Forma Financial Information is based upon the
historical financial data of and should be read in conjunction with the
information appearing in "Merger Agreement."
The Unaudited Pro Forma Balance Sheet at June 30, 2000, is based upon SunGlobe
Fiber Systems Corporation's and TimeOne, Inc.'s financial positions at June 30,
2000. The Unaudited Pro Forma Statement of Operations for the period from March
3, 2000 (the date of incorporation) through June 30, 2000 is based upon SunGlobe
Fiber Systems Corporation's result of operations for the period from March 3,
2000 (the date of incorporation) through June 30, 2000 and TimeOne, Inc.'s
result of operations for the six months ended June 30, 2000. Any difference in
TimeOne, Inc.'s results of operations from March 3, 2000 through June 30, 2000
and the results of operations for the six months ended June 30, 2000 is
immaterial.
F-10
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
PRO FORMA BALANCE SHEET
JUNE 30, 2000
(UNAUDITED)
<TABLE>
<CAPTION>
SunGlobe
TimeOne, Fiber Systems Pro-Forma Total
Inc. Corporation Adjustments Pro Forma
--------- ------------- ----------- ---------
<S> <C> <C> <C> <C>
ASSETS
Current assets
Cash $ 1,550,148 $ 23,668 $ - $ 1,573,816
Receivables 205,310 - (205,310)(1) -
-------------- -------------- ------------- ------------
Total current assets 1,755,458 23,668 (205,310) 1,573,816
Fixed assets - 19,273 - 19,273
-------------- -------------- ------------- ------------
$ 1,755,458 $ 42,941 $ (205,310) $ 1,593,089
============== ============== ============= ============
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current liabilities
Accounts payable $ - $ 203,501 $ 325,000 (5) $ 528,501
Other liabilities - 291,523 (205,310)(1) 86,213
-------------- -------------- ------------- -----------
Total current liabilities - 495,024 119,690 614,714
Stockholders' equity
Capital stock, common, $.0001
par value 826 1 808 (2)
(1)(3)
(50)(8) 1,584
Additional paid-in capital 1,229,336 99 (808)(2)
1 (3)
575,296 (4)
75,000 (7)
(49,950)(8) 1,828,974
Retained earnings (deficit) 575,296 (452,183) (575,296)(4)
(400,000)(6) (852,183)
-------------- -------------- ------------- -----------
Total stockholders' equity 1,805,458 (452,083) (375,000) 978,375
Treasury stock, at cost, 500,000 shares (50,000) - 50,000 (8) -
-------------- -------------- ------------- -----------
Total liabilities and
stockholders' equity $ 1,755,458 $ 42,941 $ (205,310) $ 1,593,089
============== ============== ============= ===========
</TABLE>
F-11
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
PRO FORMA STATEMENT OF OPERATIONS
FOR THE PERIOD FROM MARCH 3, 2000 (DATE OF INCEPTION) THROUGH JUNE 30, 2000
(UNAUDITED)
<TABLE>
<CAPTION>
SunGlobe
TimeOne, Fiber Systems Pro-Forma Total
Inc. Corporation Adjustments Pro Forma
---------- ------------- ----------- -----------
<S> <C> <C> <C> <C>
Revenues
Interest and dividends $ 59,087 $ - $ (5,310)(1) $ 53,777
Gain on property sale 21,948 - - 21,948
------------ ------------ ------------ -----------
Total revenue 81,035 - (5,310) 75,725
Costs and expenses
Interest - 5,310 (5,310)(1) -
General and administration 223,688 265,547 - 489,235
Depreciation - 1,247 - 1,247
Finder's fees - - 225,000 (5)
75,000 (7) 300,000
Legal and accounting 47,043 180,079 100,000 (5) 327,122
------------ ------------ ------------ -----------
Total cost and expenses 270,731 452,183 394,690 1,117,604
------------ ------------ ------------ -----------
Net income (loss) $ (189,696) $ (452,183) $ (400,000)(6) $(1,041,879)
============ ============ ============ ===========
Pro forma loss per share $ (0.07)
===========
Pro forma weighted average number
of shares outstanding 15,849,592
===========
</TABLE>
F-12
<PAGE>
SUNGLOBE FIBER SYSTEMS CORPORATION AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
PRO FORMA ADJUSTMENTS (UNAUDITED)
JUNE 30, 2000
1) Elimination of intercompany balance of $200,000 and accrued interest of
$5,310.
2) Issuance of 8,083,292 shares of $0.0001 TimeOne, Inc., common stock in
exchange for all the outstanding common shares of SunGlobe Fiber Systems
Corporation.
3) Eliminate SunGlobe Fiber Systems Corporation's common stock.
4) Eliminate TimeOne, Inc.'s retained earnings and eliminations of intercompany
interest expensed in SunGlobe Fiber Systems Corporation
5) Record costs associated with merger of $225,000 for finder's fees and
$100,000 in legal fees.
6) Pro forma statement of operations adjustments of $400,000.
7) Record issuance of common stock in payment of finder's fee valued at $75,000.
8) Eliminate TimeOne, Inc. treasury stock.
F-13
<PAGE>
(c) Exhibits.
99.1 Maya-1 Cable System Construction and Maintenance Agreement, dated as of
September 17, 1998.
99.2 Supplementary Agreement No. 3 to the Construction and Maintenance
Agreement, dated June 6, 2000.
This report on Form 8-K contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended. Actual results,
events and circumstances could differ materially from those set forth in such
statements due to various factors. Such factors include our development-stage
business, the need for additional operating capital, the effect of government
regulations, risks related to technology and network infrastructure and changing
economic and competitive conditions in the telecommunications industry, as well
as other risks and uncertainties.
[Remainder of this page intentionally left blank.]
3
<PAGE>
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.
SUNGLOBE FIBER SYSTEMS CORPORATION
By: /s/ Barry H. Pasternak
---------------------------
Name: Barry H. Pasternak
Title: President
Dated: September 18, 2000
