0000950147-01-501760.txt : 20011026
0000950147-01-501760.hdr.sgml : 20011026
ACCESSION NUMBER: 0000950147-01-501760
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011011
ITEM INFORMATION: Other events
ITEM INFORMATION: Financial statements and exhibits
FILED AS OF DATE: 20011022
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BESTNET COMMUNICATIONS CORP
CENTRAL INDEX KEY: 0000799694
STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
IRS NUMBER: 860916826
STATE OF INCORPORATION: NV
FISCAL YEAR END: 0831
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-15482
FILM NUMBER: 1763628
BUSINESS ADDRESS:
STREET 1: 5210 E WILLIAMS CIRCLE
STREET 2: STE 200
CITY: TUCSON
STATE: AR
ZIP: 85711
BUSINESS PHONE: 5207509093
MAIL ADDRESS:
STREET 1: 5210 E WILLIAMS CIRCLE
CITY: TUCSON
STATE: AZ
ZIP: 85711
FORMER COMPANY:
FORMER CONFORMED NAME: WAVETECH INC
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: WAVETECH INTERNATIONAL INC
DATE OF NAME CHANGE: 19980225
8-K
1
e-7621.txt
CURRENT REPORT DATED 10/11/2001
SECURITIES AND EXHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OF 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) October 11, 2001.
BestNet Communications Corp.
(Exact Name of Registrant as Specified in its Charter)
Nevada 001-15482 86-1006416
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
5210 E. Williams Circle, Suite 200 Tucson, Arizona 85711
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (520) 750-9093
ITEM 5. OTHER EVENTS.
On October 11, 2001, BestNet Communications Corp., (the "Company") redeemed all
of the outstanding shares of its Series B convertible preferred stock (the
"preferred stock") through the issuance of shares of restricted common stock.
A press release announcing the redemption is attached hereto as exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits:
Exhibits Title
-------- -----
99 Press release, issued by BestNet Communications Corp.
Dated October 11, 2001
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.
BestNet Communications Corp.
By: /s/ Robert A. Blanchard
----------------------------
Robert A. Blanchard
Chief Executive Officer
Date: October 22, 2001
EXHIBIT INDEX
Exhibits Title
-------- -----
99 Press release, issued by BestNet Communications Corp.
Dated October 11, 2001
EX-99
3
ex99.txt
PRESS RELEASED DATED 10/11/2001
Exhibit 99
PRESS RELEASE DATED OCTOBER 11, 2001.
BESTNET ANNOUNCES REDEMPTION OF OUTSTANDING PREFERRED SHARES WITH RESTRICTED
COMMON STOCK October 11, 2001 09:15:00 AM ET
TUCSON, Ariz., Oct 11 /PRNewswire/ -- BestNet Communications Corp. (OTC Bulletin
Board: BESC), a provider of patented Internet-based telecommunication solutions,
announced today it has redeemed all of the outstanding shares of its Series B
convertible preferred stock (the "preferred stock") through the issuance of
shares of restricted common stock.
The preferred stock was originally issued in connection with the Company's $5
million dollar private placement completed in May 2000. The financing was placed
by Toronto based securities firm Thomson Kernaghan and Company Ltd., through
Cedar Avenue LLC, a Cayman Island limited liability investment company. Mark
Valentine, Chairman of Thomson Kernaghan said: "Cedar Avenue has been following
BestNet closely over the last year. Unlike many other companies in the telecom
sector, the BestNet stock has performed very well. Cedar Avenue believes that
the patented Internet telecommunication technology exclusively licensed to
BestNet offers significant efficiencies and cost-savings at a time when business
and consumers are trying to reduce expenses. BestNet is uniquely positioned to
rapidly grow, based on its innovative products and new management team. As a
result, Cedar Avenue has decided to take a long term position in the Company's
stock."