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) June 29, 2000
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WORLDWIDEWEB INSTITUTE.COM, INC.
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(Exact name of registrant as specified in its charter)
Florida 33-40808-A 65-0260247
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(State or other jurisdiction (Commission File (IRS Employer
or incorporation) Number) Identification No.)
6245 N.W. 9th Avenue, Suite 201, Fort Lauderdale, Florida 33309
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (954) 776-8444
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER ITEMS
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The Company announced that it has elected Lt. Col. Alan Pavsner (Ret)
to the post of President and Chief Executive Officer and Mr. Shawn K. MacNamara
to the position of Executive Vice President and Chief Operating Officer. Col.
Pavsner was previously Executive Vice President and Chief Operating Officer of
the Company. Mr. MacNamara formerly served the Company as its General Manager.
Mr. Smiley Sansoni continues as Chairman of the Board.
ALAN PAVSNER has been Chief Operating Officer for WorldWideWeb since
March 2000. Previously, between March 1999 and March 2000, he was Vice President
for Field Operations for Integrated Homes, Inc., Boca Raton, Florida, which was
engaged in providing low voltage technology solutions to major builders and
developers under residential construction. Between January 1997 and March 1999,
Mr. Pavsner was Vice President of Marketing for Spectra Systems, Inc., which was
engaged in developing advanced technology equipment to major OEMs and Department
of Defense contractors. Between January 1995 and January 1997, Mr. Pavsner was
Vice President for P.N.C. Investments, Ltd. which was engaged in advising
clients relative to acquisitions, and mergers and public securities markets.
Between 1974 and 1995, Mr. Pavsner served with the United States Marine Corps
where he concluded his career as Commanding Officer of Marine Aviation Support
Group, Naval Air Warfare Center, Point Mugu, California and retired with the
rank of Lieutenant Colonel. Mr. Pavsner also serves as a Director and principal
on a limited basis of two companies engaged in locating suitable acquisition
candidates.
SHAWN McNAMARA was General Manager of WorldWideWeb from March, 2000
until promoted to Chief Operating Officer in June 2000. Between June, 1999 to
the January, 2000 Mr. McNamara had been General Manager of DBD Management, Fort
Lauderdale, Florida, which was an adult entertainment club while simultaneously
operating as an independent consultant to numerous Internet based companies and
adult entertainment clubs. Between November, 1998 and July 1999, he served as
President of Internet Video Network, Pompano, Florida, which was also an
Internet-based marketing company. Between September, 1998 to November, 1999 he
was the founder and president of Global Telnet, an Internet based marketing
company. Between August, 1997 and September 1998, Mr. McNamara was President of
Internet Video Group, Inc., Pompano, Florida an Internet-based marketing company
while simultaneously serving as an independent consultant to governmental
authorities in connection with Internet related crimes. Prior to that, from
July, 1995 and August, 1997, Mr.McNamara was Director of Operations for certain
adult entertainment clubs before, and subsequent to, receivership under the U.S.
Government in Southeast Florida.
On June 29, 2000, the Company issued a press release in which it
projected that it would experience a substantial operating loss for its fiscal
year which concluded March 31, 2000 and anticipated an increased loss for the
first quarter ending June 30, 2000. As described in the press release, the
Company attributed the projected loss to lower than anticipated quarter to
quarter sales in the second half, significant expenditures for marketing and
infrastructure and costs related to the development and introduction of its new
e-commerce website program. The Company said it believed that lower quarter to
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quarter sales in its last fiscal quarter were primarily due to the wider array
of choices available to consumers and small business for web site production,
and the need for the Company to offer a broader range of on-line marketing,
e-commerce, and promotional services and products to assist its customers.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) None
(b) Exhibits.
(1) Press Release dated June 29, 2000
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
WorldWideWeb Institute.com, Inc. has signed this report.
WORLDWIDEWEB INSTITUTE.COM, INC.
By: /s/ Ernest Chu
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Name: Ernest Chu
Title: Chief Financial Officer
Dated: June 29, 2000
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EXHIBIT (1)
FOR IMMEDIATE RELEASE
CONTACT:
Ernest D. Chu, CFO or
Sally Cupp
WorldWideWeb Institute.com, Inc.
(888)-932-9817
WORLDWIDEWEB INSTITUTE.COM, INC.
ANNOUNCES SENIOR MANAGEMENT CHANGES
Ft. Lauderdale, Fl.--- June 29, 2000 The WorldWideWeb Institute.com, Inc. (OTCBB
WWWA) announced today that it had promoted Lt. Col. Alan Pavsner (Ret.) to the
post of President and Chief Executive Officer and Shawn K. McNamara to the
position of Chief Operating Officer. President and founder, Smiley J. Sansoni,
moves on to become Chairman of the Board, signaling a new direction for the
company that began as the innovator of the free web site and Internet Student
programs.
"The promotions of Col. Pavsner and Shawn McNamara put into place a first rate
operating team," said Mr. Sansoni. "The company now has the management depth and
experience to ensure effective operations while allowing us to take advantage of
major opportunities to grow and meet our customer's needs."
Col. Pavsner, formerly the Company's Chief Operating Officer, is a decorated
veteran of the Desert Shield and Desert Storm campaigns. During his 21 year
distinguished Marine Corps career, he was well-known for his effective
management accomplishments. Col. Pavsner, who graduated with a B.S. from Florida
State University, and a M.A. in human resource management from Pepperdine
University, also recently served in senior management positions with the private
sector.
Shawn McNamara served as President of Global Telnet, a web site design and
management company which developed leading technologies in web hosting, design
and e-commerce, before coming to WWWI. An Internet entrepreneur, Mr. McNamara
has extensive experience in building, developing and managing growing Internet
companies.. He will focus on the day to day operations while also supporting the
logistics required to grow WWWI's subsidiaries.
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WorldWideWeb Institute.com, Inc. is a leader in web site design, hosting, online
marketing and educational services. For more complete information on the
Company, please visit the Company's web site at www.wwwi.net.
Statements in this release referring to expectations as to the future, results
of operations and financial conditions, may contain forward looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve risks, uncertainties, and other factor which
may cause the actual results or events to be materially different from such
forward-looking statements. Such factors include, but are not limited to levels
of sales, general domestic and international conditions including consumer
demand, reliance on key relationships, dependence on technology, actions taken
by competitors, changes in telecommunications and infrastructure costs and the
availability of capital. For more information, see the Company's filings with
the Securities and Exchange Commission.
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