Filed Pursuant to Rule 424(b)(3)
Registration No. 333-41690
DBS Industries, Inc.
Prospectus Supplement
(To Prospectus Dated September 11, 2000)
You should read this prospectus supplement and the related prospectus
carefully before you invest. Both documents contain information you should
consider when making your investment decision.
On September 7, 2000, we issued a drawdown notice to Torneaux Ltd. in
connection with the common stock purchase agreement dated June 2, 2000 between
us and Torneaux Ltd. The Draw Down notice offered to sell up to $250,000 of our
common stock to Torneaux Ltd. based on the formula in the stock purchase
agreement, during the 18 day trading day period beginning on September 8, 2000
and ending on October 3, 2000. During the first 9 trading days, Torneaux Limited
purchased a total of 84,490 shares of our common stock at an average purchase
price of $0.9863 per share. The Volume Weighted Average Price of our common
stock, as quoted on the OTC Bulletin Board, during the Draw Down period was
approximately $1.0841. These purchases resulted in aggregate proceeds of $83,333
being paid to us by Torneaux. Additionally, as part of the purchase, Torneaux
Ltd. received warrants to purchase up to 42,245 shares of our common stock at an
exercise price of $1.1342 per share.
The attached prospectus relates to the resale of shares acquired by
Torneaux Ltd. pursuant to the stock purchase agreement. Because Torneaux Ltd.
may sell some or all of these shares, and because there are currently no
agreements, arrangements or understandings with respect to the sale of any of
these shares, we cannot estimate the actual amount of shares that they will hold
after the completion of the offering.
We expect to use the proceeds of this sale of common stock and upon the
exercise of warrants for for working capital and other general corporate
purposes.
The date of this prospectus supplement is September 25, 2000.
