UNITED STATES
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 Earliest Event Reported: September 30, 1999
HYPERDYNAMICS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 000-25496 87-0400335
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation Identification No.)
or organization)
5444 Westheimer, Suite 2080
Houston, Texas 77056
(Address of principal executive offices, including zip code)
(713) 622-1893
(Registrant's telephone number, including area code)
RAM-Z ENTERPRISES, INC.
(Registrant's former name)
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ITEM 5. OTHER EVENTS.
a. Mr. Ted W. Tarver, Director of the Company resigned as of September 30,
1999 to pursue other business opportunities. The existing board of
directors has not yet filled the vacancy on the board created by Mr.
Tarver's resignation.
b. The Board of Directors determined that the Wired and Wireless Corporation
(a wholly owned subsidiary) no longer fits into the business plan
of the Company. On September 30, 1999, 100% of the ownership of the total
outstanding common stock of Wired and Wireless was sold to Ted W. Tarver
in consideration of a Revenue Sharing Agreement. The Revenue Sharing
Agreement specifies that the Company will receive 7% of the gross
revenues for the first $714,286 in revenue from the effective date; 5%
for the next $1,000,000 in revenue; and 3% thereafter. The revenue
sharing agreement also specifies that the Company will receive 10% of any
sales proceeds in the case that Wired and Wireless is sold. The Wired and
Wireless subsidiary represented 17.9% of the consolidated assets of the
Company at September 30, 1999. Hyperdynamics had a loss of $184,546 for
fiscal year end June 30, 1999. Fifteen percent (15%) or $27,625 of this
loss was attributed to Wired and Wireless Corporation. The terms of the
sale of Wired and Wireless Corporation were the result of negotiation
between the parties, however no appraisal was done. 100% of the
disinterested directors voted in favor of the sale.
SIGNATURE
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.
HyperDynamics Corporation
By: /s/ Kent Watts
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Kent Watts, Chairman of the Board,
Chief Executive Officer, and Chief Accounting Officer
Dated: October 14, 1999
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