U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
FORM 10-QSB/A-1
(Mark One)
[X] AMENDED QUARTERLY REPORT UNDER SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the quarterly period ended May 31, 1997.
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the transition period from ________________ to _______________.
Commission File Number 0-15482
WAVETECH, INC.
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(Exact name of small business issuer as specified in its charter)
NEW JERSEY 22-2726569
- ------------------------------ -------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
5210 E. WILLIAMS CIRCLE, SUITE 200
TUCSON, ARIZONA 85711
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(Address of principal executive offices)
(520) 750-9093
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(Issuer's telephone number)
Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act during the past 12 months (or
for such shorter period that the registrant was required to file such reports,
and (2) has been subject to such filing requirements for the past 90 days.
[X] Yes [ ] No
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: July 10, 1997
Class No. Of Shares Outstanding
----- -------------------------
Common Stock. Par Value $.001 14,954,813
Transitional Small Business Disclosure Format (Check One): [ ] Yes [X] No
<PAGE>
INDEX
WAVETECH, INC. AND SUBSIDIARIES
PART II. OTHER INFORMATION Page
----
ITEM 6. Exhibits and Reports on Form 8-K 3
SIGNATURES 4
2
<PAGE>
PART II OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
No. 27 - Financial Data Schedule
(b) Reports on Form 8-K
The Company filed a report on Form 8-K on April 1, 1997,
disclosing the issuance on March 17, 1997 of a promissory note
and warrants to purchase 30,000 shares of its Common Stock in
a transaction pursuant to Regulation S of the Securities Act
of 1933, as amended.
3
<PAGE>
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of 1934, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Dated: July 15, 1997 WAVETECH, INC.
By: /s/ Gerald I. Quinn
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Gerald I. Quinn
President and Chief Executive Officer
By: /s/ Lydia M. Montoya
-------------------------------------
Lydia M. Montoya
Chief Financial Officer
4
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Consolidated Balance Sheet and Consolidated Statements of Operations, ended
May 31, 1997 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1997
<PERIOD-END> MAY-31-1997
<CASH> 20,909
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 107,798
<PP&E> 788,110
<DEPRECIATION> (313,983)
<TOTAL-ASSETS> 3,285,138
<CURRENT-LIABILITIES> 525,511
<BONDS> 0
0
0
<COMMON> 14,715
<OTHER-SE> 2,363,209
<TOTAL-LIABILITY-AND-EQUITY> 3,285,138
<SALES> 797,626
<TOTAL-REVENUES> 797,626
<CGS> 599,474
<TOTAL-COSTS> 599,474
<OTHER-EXPENSES> 1,398,985
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 16,947
<INCOME-PRETAX> (1,209,283)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (1,209,283)
<EPS-PRIMARY> (0.08)
<EPS-DILUTED> 0
</TABLE>
