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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) April 8, 1996
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WAVETECH, INC.
(Exact name of registrant as specified in its charter)
New Jersey 0-15482 22-2726569
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5210 E. Williams Circle, Suite 200, Tucson, Arizona 85711
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (520)750-9093
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Not applicable
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER MATTERS.
On April 9, 1996, Wavetech, Inc. (the "Company") sold 2,000,000 shares of its
common stock in an offering pursuant to Regulation S of the Securities Act of
1933. The net proceeds of the offering to the Company were approximately
$1,500,000. A balance sheet of the Company dated April 11, 1996 that reflects
this investment is attached as Exhibit A.
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SIGNATURE
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.
Dated: April 11, 1996
WAVETECH, INC.
By: /s/Gerald I. Quinn
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Gerald I. Quinn
President and Chief Executive Officer
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EXHIBIT A
WAVETECH, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
APRIL 11, 1996 (UNAUDITED)
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ASSETS
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April 11,
1996
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Current assets:
Cash and Cash equivalents $1,617,402.81
Other Current Assets 4,397.69
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Total Current Assets 1,621,800.50
Property and equipment, net 535,049.06
Other Assets:
Deposits 64,717.93
Other Assets 12,100.00
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Total Other Assets 76,817.93
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Total Assets $2,233,667.49
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LIABILTIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued expenses $ 97,486.14
Capital Leases 14,979.92
Notes payable, current 53,638.86
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Total Current Liabilities 166,104.92
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Stockholders' equity:
Common stock, par value $.001 per share; 1,503,015.58
50,000,000 shares authorized, and
12,509,246 shares issued and outstanding
Additional paid in capital 2,739,791.87
Retained earnings (accumulated deficit) (2,175,244.88)
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Total stockholders' equity (deficit) 2,067,562.57
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Total liabilities and stockholders' equity $2,233,667.49
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