-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Seo8/a3dvqaVkoEstx/VbuoDjq9YT1tPxxzmP4zNvwA7TscxkosAVZnRyBYRz4uw Xo1GD4wWs6Y1y2/2qj0/5Q== 0001108890-04-000471.txt : 20040816 0001108890-04-000471.hdr.sgml : 20040816 20040816094249 ACCESSION NUMBER: 0001108890-04-000471 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040812 ITEM INFORMATION: Other events FILED AS OF DATE: 20040816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BESTNET COMMUNICATIONS CORP CENTRAL INDEX KEY: 0000799694 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 861006416 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: 04976397 BUSINESS ADDRESS: STREET 1: 5075 CASCADE ROAD SE STREET 2: SUITE A CITY: GRAND RAPIDS STATE: MI ZIP: 49546 BUSINESS PHONE: 616-977-9933 MAIL ADDRESS: STREET 1: 5075 CASCADE ROAD SE STREET 2: SUITE A CITY: GRAND RAPIDS STATE: MI ZIP: 49546 FORMER COMPANY: FORMER CONFORMED NAME: WAVETECH INTERNATIONAL INC DATE OF NAME CHANGE: 19980225 FORMER COMPANY: FORMER CONFORMED NAME: WAVETECH INC DATE OF NAME CHANGE: 19920703 8-K 1 bestnet8k081204.txt PERIOD ENDED 08-12-04 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) August 12, 2004 --------------- BestNet Communications Corporation ---------------------------------------------------- (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) 5075 Cascade Rd. SE, Suite A. Grand Rapids, MI 49546 ------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (616) 977-9933 -------------- ITEM 5. OTHER EVENTS. BestNet Announces Board Appointment and Unit Conversion Proceeds Exhibits Title - -------- ----- 99 Press release, issued by BestNet Communications Corporation Dated August 12, 2004 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 Corporation By: /s/ Richard Bourke -------------------------- Richard Bourke Interim Chief Executive Officer By: /s/ Michael A. Kramarz -------------------------- Michael A. Kramarz Chief Financial Officer Date: August 16, 2004 2 EX-99 2 bestnetexhib99-081204.txt PRESS RELEASE EX-99 BestNet Announces Board Appointment and Unit Conversion Proceeds GRAND RAPIDS, Michigan - August 12, 2004 - BestNet Communications Corp. (OTCBB: BESC) announced that the board of directors has appointed Anthony Silverman to fill the vacant board seat. The Board also reported that they closed the contingent approval to split the outstanding units into the securities comprising such units, effective the announced termination date, August 10, 2004. This effort was successful in converting shares of Series A Convertible Preferred Stock into shares of common stock, resulting in net proceeds to the company of approximately $448,000. Anthony Silverman is a General Partner of Katsinam Partners, LP, an investment fund focused on micro and small-cap public companies located in Scottsdale, AZ. He also manages his personal investments. He has been a shareholder of BestNet since April 2002. Silverman was Founder, Chairman and CEO of Paradise Valley Securities from 1987 to 1999. For most of his 30-year career in the securities business, Mr. Silverman concentrated in transactions for the financing of Microcap and Smallcap companies. He has led financings aggregating over $500 million for close to 100 companies, including diverse industries such as airlines, food products, telecommunications, retail, media and life sciences. Richard Bourke, Chairman and interim CEO, said, "We are very pleased to announce the appointment of Anthony Silverman to our board. He has been a very strong supporter of BestNet over the years, and his expertise and relationships in the financial community will continue to benefit BestNet. Additionally, our shareholders have again evidenced their support of BestNet through the conversion of shares of Series A Convertible Preferred Stock. These funds will permit BestNet to continue to expand its product offerings, and extend its reach through a newly focused marketing and sales effort." About BestNet Communications Corp. BestNet Communications is a global solutions provider of long distance; conference calling, ClicktoPhone and custom application-based communication services. BestNet's services are accessed worldwide via the Internet, standard phones and wireless devices and are delivered using standard phone lines and equipment. This results in a cost effective high quality service for both businesses and consumers. Under the brand name Bestnetcall(TM) (WWW.BESTNETCALL.COM) the patented services offer subscribers premium quality calls and conference calling, at significantly lower rates. Calls and conference calls can also be launched via a desktop application or handheld devices including Palm(TM), Pocket PC(R) and Blackberry(TM) and used with any standard or wireless phone. In addition the company's new ClicktoPhone(TM) service (www.ClicktoPhone.com) enables clients to add secure and anonymous voice communication connectivity anywhere in the world to web sites, web banners, pictures, electronic documents, and customized e-mail calling buttons. This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives. The forward-looking statements herein are based on current expectations that involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond control of the company. Although the company believes that the assumptions underlying the forward-looking statements are reasonable, any one of the assumptions could be inaccurate and, therefore, can be no assurance that the forward-looking statements included in this release will prove to be accurate. -----END PRIVACY-ENHANCED MESSAGE-----