UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
Amendment No. 1
(Amending Part II, Item 5)
(Mark One)
[X] Quarterly Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the Three Months Ended June 30, 1996.
OR
[ ] Transition Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the transition period from ________ to
________.
Commission file number 0-19998
WORLD ACCESS, INC.
(Exact name of Registrant as specified in its Charter)
DELAWARE 65-0044209
(State of Incorporation) (I.R.S. Employer Identification No.)
4501 Vineland Road, Orlando, Florida 32811
(Address of principal executive offices) (Zip Code)
(407) 843-7031
(Registrant's telephone number)
RESTOR INDUSTRIES, INC.
(Former name of Registrant)
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
NONE
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
Common Stock, Par Value $.01 Per Share
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such report(s), and (2) has been subject to such
filing requirements for the past 90 days.
YES [X] NO
The number of shares outstanding of the Registrant's common stock, par
value $.01 per share, at August 23, 1996 was 12,620,594.
<PAGE>
Item 5. Other Information
On June 19, 1996, the Company changed its corporate name to World Access, Inc.
On June 25, 1996, the Company's common stock began trading in the Nasdaq
National Market under the symbol "WAXS".
On or about July 25, 1996, the Company received a letter from Rates Technology,
Inc. ("RTI") in which RTI alleged the breach of certain agreements (the "RTI
Agreements") relating to the Company's smart pay telephone operations, which
operations were discontinued in December 1992. Subsequently, the Company has
received several additional letters from RTI demanding the payment of certain
amounts allegedly due RTI under the RTI Agreements and threatening legal action
if such amounts are not paid. The Company does not believe that it has breached
the RTI Agreements or that it owes any amounts to RTI thereunder. If RTI
commences legal action against the Company, the Company believes that it has
meritorious defenses to any such action and intends to vigorously defend itself.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
WORLD ACCESS, INC.
By: /s/ Mark A. Gergel
------------------------
Mark A. Gergel
Vice President and
Chief Financial Officer
Dated: August 26, 1996
