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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 Report (Date of earliest event reported) November 25, 1996
METRO ONE TELECOMMUNICATIONS, INC.
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(Exact name of registrant as specified in its charter)
Oregon 0-27024 93-0995165
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(State of incorporation) (Commission file Number) (IRS Employer
Identification No.)
8405 S.W. Nimbus Avenue, Beaverton, Oregon 97008
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Registrant's telephone number, including area code (503) 643-9500
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ITEM 5. Other Events
Metro One Telecommunications ("Metro One") announced on November 25, 1996, that
provision of its enhanced directory assistance services to GTE Mobilnet
subscribers will be discontinued in the San Diego area. This phase-out,
beginning in November 1996, is expected to be completed effective January 1997.
Metro One initiated service to subscribers in the San Diego area under a
contract with US West NewVector in 1992. Metro One began providing service to
GTE Mobilnet in 1995 as a result of a swap by GTE and US West NewVector of their
Portland and San Diego license areas, respectively. GTE Mobilnet contributed
approximately 5 percent of Metro One's revenues in the first nine months of
1996. Directory assistance for GTE Mobilnet in San Diego is expected to be
provided remotely by GTE Corporation operators.
Metro One's president and chief executive officer, Timothy A. Timmins, said,
"Although personnel levels at the San Diego call center will be temporarily
reduced by an amount commensurate with the expected reduction in call volume,
the call center will continue to service an existing trial arrangement and is
expected to begin servicing Sprint PCS upon the initiation of its PCS services
in California and Nevada."
"The San Diego call center remains an important part of our plan to provide
local and nationwide EDA from our nationwide network of call centers," Timmins
continued. "We recently signed a multi-year national agreement to provide EDA to
Sprint PCS. This agreement is expected to generate EDA calls from, among other
areas, California and Nevada, and this potential call volume is expected to be
serviced initially from our San Diego call center. Of course, future call volume
will be dependent on a number of factors, including the timing of introduction
of our customers' wireless services in each area and their success in
penetrating inch respective geographic market."
This press release contains forward-looking statements which are made pursuant
to the safe harbor provisions of The Private Securities Litigation Reform Act of
1995. The forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking statements,
including, but not limited to, the factors detailed in the Company's Securities
and Exchange Commission filings. The forward-looking statements should be
considered in light of these risks and uncertainties.
Metro One Telecommunications, Inc. is an independent developer and provider of
Enhanced Directory Assistance(R) services for the wireless telecommunications
industry. The Company currently provides its services from eleven call centers
located throughout the country.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
METRO ONE TELECOMMUNICATIONS, INC.
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(Registrant)
Date: November 25, 1996 By: /s/ Timothy A. Timmins
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Timothy A. Timmins
President and Chief Executive Officer