-----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, AuNBck9zpgaWJQ3tphX8QAwpcjQeypcAkWnRiR6NIwZjLraUmXTcAiuHJv2IYsh6 GGVtaa7HtOK6DY0FEqLBzg== 0001108890-05-000405.txt : 20050613 0001108890-05-000405.hdr.sgml : 20050611 20050613092317 ACCESSION NUMBER: 0001108890-05-000405 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050610 ITEM INFORMATION: Other Events FILED AS OF DATE: 20050613 DATE AS OF CHANGE: 20050613 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: 05891327 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 bestnet8k061005.txt DATED 06-10-05 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) June 10, 2005 --------------- 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 8.01. OTHER EVENTS BestNet Communications Announces Temporary Reduction of Exercise Price on its Warrants Exhibits Title - -------- ----- 99 Press release, issued by BestNet Communications Corporation Dated June 10, 2005 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/ Stanley L. Schloz -------------------------- Stanley L. Schloz President By: /s/ Michael A. Kramarz -------------------------- Michael A. Kramarz Chief Financial Officer Date: January 13, 2005 EX-99 2 bestnetexhib99-061005.txt PRESS RELEASE DATED 06-10-05 EXHIBIT - 99 BestNet Communications Announces Temporary Reduction of Exercise Price on its Warrants GRAND RAPIDS, Mich.--(PR Newswire)--June 10, 2005--BestNet Communications Corp. (OTCBB: BESC - News), a provider of patented and proprietary global communication solutions, today announces approval by its Executive Committee to temporarily reduce the exercise price on its warrants. The warrants are currently traded under the symbol BESCW. Each warrant entitles the holder to one share of the Company's common stock in exchange for $.30. The exercise price of these warrant will be reduced to $.15 (the "Temporary Exercise Price") for a period beginning on June 13, 2005 and ending at noon (EDT) on June 24, 2005. The exercise price of any warrants not exercised during this periods will revert back to $.30. An aggregate of 3,589,581 shares of common stock are issuable upon exercise of these warrants. The Company will receive net proceeds of approximately $538,000 assuming all of the warrants are exercised. All warrants that have not been exercised by such date will continue to trade as warrants on the Pink Sheets. In order to exercise the warrants, at the reduced exercise price, each warrant holder must comply with the following steps to receive the one (1) share of common stock for $.15: 1) Investors should contact their broker to indicate their intent to exercise their warrants at the Temporary Exercise Price. 2) The Brokers will transmit the instructions to the Depository Trust Company. 3) At this time, the Depository Trust Company will collect the funds, $.15 per each warrant exercised for the American Stock Transfer and Trust Co. 4) The Depository Trust Company conveys the funds and transaction information to American Stock Transfer and Trust Co. 5) The one (1) share of common stock will be transmitted to the broker. 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. Contact BestNet at: investors@bestnetcom.com 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-----