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
October 31, 2000
(Date of report)
GLOBUS WIRELESS LTD.
(Exact Name of Registrant as Specified in its Charter)
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NEVADA 0-25614 88-0228274
(State of Incorporation) (Commission File Number) (IRS Employer ID)
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1955 Moss Court, Kelowna, British Columbia, Canada V1Y 9L3
(Address of principle executive offices)
250-860-3130
(Registrant's telephone number, including area code)
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ITEM 2. Acquisition or Disposition of Assets.
On October 31, 2000, Globus Wireless Ltd., a Nevada corporation ("Globus"),
and Victor Abuharoon and Randolph Ryan Aquino (together, the "Vendors"),
executed a Share Purchase Agreement that is effective September 1, 2000.
Pursuant to the Share Purchase Agreement and subject to the terms and conditions
set forth therein, Globus acquired 100% of all of the issued and outstanding
shares in the capital of Edge Continental Inc., a corporation incorporated under
the laws of Ontario, for Cdn.$1,000,000 and 300,000 shares of restricted common
stock of Globus. In addition, the shares issued have an eleven-month bleed-out
provision. The Cdn.$1,000,000 purchase price will be paid in 4 equal
installments, the first Cdn.$250,000 payment was made on October 31, 2000 and
will be followed by similar payments on January 1, 2000, March 31, 2001, and
June 30, 2001.
The foregoing description of the terms of the transaction is qualified in
its entirety by reference to the Share Purchase Agreement. A copy of the Share
Purchase Agreement is filed as Exhibit 2.1 and is incorporated herein by
reference.
ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Pro Forma To be filed.
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Exhibit 2.1 Share Purchase Agreement dated as of October 31, 2000, effective as of September 1, 2000, among Globus Wireless
Ltd., and Victor Abuharoon and Randolph Ryan Aquino.
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SIGNATURES
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.
GLOBUS WIRELESS INC.
/s/ Nicholas G. Wizinsky
By: Nicholas G. Wizinsky
Chief Operations Officer
Dated: November 13, 2000
