SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): July 27, 2000
Commission File Number: 0-17020
Sensar Corporation
(Exact Name of Registrant as Specified in its Charter)
Nevada 87-0429944
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
50 West Broadway, Suite 501
Salt Lake City, Utah 84101
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code:
(801) 350-0587
N/A
(Former name, former address, and formal fiscal year, if changed since last
report)
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ITEM 5. OTHER EVENTS
Sensar Corporation issued the following press release on July 27, 2000.
Salt Lake City, UT, July 27, 2000 - Sensar Corporation (Nasdaq: SCII)
announced today the signing of a memorandum of understanding between
Net2Wireless Corporation and Nextel Finance Company, a wholly-owned subsidiary
of Nextel Communications, Inc. (Nasdaq: NXTL), for the field testing and
potential future purchases of Net2Wireless' 3Gate Platform.
In a separate agreement, Nextel Finance Company and Net2Wireless also
agreed to the terms and conditions that would apply to an investment in 1
million shares of Net2Wireless capital stock at a per share price of $32.
Consummation of such investment transaction is contingent on a number of
matters, including the completion of due diligence exercises by Nextel Finance
Company and Nextel Finance Company's satisfaction with the outcome of such
exercises.
Net2Wireless' 3Gate platform is designed to function with both circuit and
packet switching technologies used in digital cellular infrastructures. The
platform is expected to enable digital cellular operators to provide varied
services such as Internet access, e-mail, unified dynamic storage and messaging,
streaming video/audio, instant messaging, data streaming entertainment and
corporate solutions.
Net2Wireless' unique 3Gate platform and related technology have been
developed to enable digital cellular operators to provide a wide range of
applications to a variety of mobile wireless devices, such as PDAs, smart mobile
phones and hand held computers, all over a single backbone network using the
operators' existing system infrastructure. Net2Wireless' technology is based on
using state of the art digital content compression, advanced pattern recognition
technology and innovative streaming communication technology to support scalable
communications from 9600 bps and higher using ultra-low bandwidth. The 3Gate
platform is designed to be scalable, modular and fully redundant.
This press release contains certain forward-looking statements concerning
the potential products of Net2Wireless, which are still in the development and
testing stage. The products are not commercially available and all are subject
to all the risks associated with a new market introduction including technical
feasibility, efficacy, market acceptance, acceptable pricing structures, and
broad based consumer demand. The above statements are not meant to be
predictions of the future and are subject to all of the uncertainties set forth
above and many others that may develop in the future. For a discussion of the
contingencies and uncertainties relating to the merger of Sensar and
Net2Wireless to which some of the information concerning future events is
subject, please refer to Sensar's report on Form 10-K for December 31, 1999 and
its initial filing on Form S-4, which is subject to further completion and
amendment.
For additional information visit Net2Wireless' website at
http://www.net2w.com.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange of 1934, as amended, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Dated: July 27, 2000 SENSAR CORPORATION
By /s/ Howard S. Landa
Howard S. Landa, Chairman of the Board
(Chief Executive Officer and
Principal Financial and Accounting Officer)
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