8-K, 2000-11-06
Previous: SELECT MEDIA COMMUNICATIONS INC, 8-K, EX-16, 2000-11-06


                                  UNITED STATES
                              Washington, DC 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)  October 31, 2000

             (Exact name of registrant as specified in its charter)

DELAWARE                                 000-24408                33-611753
(State or jurisdiction of         (Commission File Number)     (IRS Employer
Incorporation)                                               Identification No.)

                           2030 Main Street, Suite 550
                            Irvine, California 92614
                    (Address of principal executive offices)

Registrant's telephone number, including area code:  (949) 260-8100

                                 IJNT.NET, INC.
          (Former name or former address if changed since last report)


ITEM 3.  Bankruptcy or Receivership.

              On October 31, 2000, Universal Broadband Networks, Inc., and four
of its wholly-owned subsidiaries (collectively the Company") filed a voluntary
petition of protection and reorganization under Chapter 11 of the Federal
Bankruptcy Code in the United States Bankruptcy Court for the Central District
of California, Santa Ana Division, Case Nos. SA 00-18281 JB, SA 00-18282 JB, SA
00-18283 JB, SA 00-18284 JB and SA 00-18286 JB (collectively, the "Filing").
From that time, the Company has been operating under the protection of the
United States Bankruptcy Code as a debtor-in-possession. In connection with the
Filing, the Company issued a Press Release dated October 31, 2000, which is
attached hereto as Exhibit 99.1.

ITEM 4. Change in Registrant's Certifying Accountant.

             Effective as of October 31, 2000, the Company accepted the
resignation of BDO Seidman, LLP as the Company's independent certified public
account, which was tendered on that same date. No disagreements exist between
the Company and BDO Seidman, LLP with respect to any financial statement of the
Company or the presentation of any financial statement for which BDO Seidman,
LLP, issued a report.

             The Company requested that BDO Seidman, LLP furnish it with a
letter addressed to the Securities and Exchange Commission (the "Commission")
stating whether or not it agrees with the above statements. The Company will
file a copy of such letter as an amendment to this Current Report on Form 8-K
within two days of its receipt by the Company.

             The Company has not yet engaged another accountant to replace BDO
Seidman, LLP. Any new accountant that the Company engages probably will not have
sufficient opportunity to review the Company's next Quarterly Report on form
10-Q for the period ended September 30, 2000 (the "Next Quarterly Report"),
before the required filing date. As the Company may be unable to prepare the
Next Quarterly Report under the Company's normal review standards, the Company
subsequently may be required to amend the Next Quarterly Report following its
review by the Company's accountants.

ITEM 5.  Other Events.

         Since the Company no longer satisfies the requirements for continued
listing on the Nasdaq National Market, by letter dated November 3, 2000, the
Company requested that its securities be delisted from the Nasdaq National

ITEM 7.  Financial Statements and Exhibits

         c.       EXHIBITS

                  99.1 Press release, dated October 31, 2000.



         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.

                                            UNIVERSAL BROADBAND NETWORKS, INC.

Date: November 6, 2000                        By /s/ MICHAEL A. STERNBERG
                                               Michael A. Sternberg
                                               Chief Executive Officer

© 2019 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission