U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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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): October 29, 1999
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COMMUNICATIONS WORLD INTERNATIONAL, INC.
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(Exact Name of Registrant as Specified in Charter)
Commission file number: 0-30220
Colorado 84-0917382
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(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
7315 South Revere Parkway, Unit 602, Englewood, Colorado 80112
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(Address of principal executive offices) (Zip Code)
(303) 721-8200
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Registrant's telephone number, including area code
Item 2. Acquisition or Disposition of Assets
Effective October 29, 1999, the Company through its wholly owned subsidiary, IAC
Acquisition Corporation, purchased certain assets and assumed certain
liabilities of West-Tech Communications Corp. (West-Tech). West-Tech provides
communications solutions to businesses in the Denver metropolitan area.
The Company acquired inventory of approximately $64,000, accounts receivable of
approximately $236,000 net of accounts payable of approximately $88,000, and
fixed assets with a net book value of approximately $29,000. The assets acquired
included the name, West-Tech, and the Company intends to continue to use the
assets acquired in providing communications solutions to businesses.
The Company issued 270,000 shares of its common stock, valued at the market
price of $.98 per share on the date of closing; made a cash payment of
approximately $559,000; and issued a note payable of $370,000 with interest at
7% per annum. Interest and principal on the note will be payable quarterly
beginning January 31, 2000. The Company used internal funds for the acquisition,
which were derived primarily from a recent private offering of notes and
warrants.
Prior to the acquisition, there was no material relationship between the Company
and West-Tech.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired
It is impractical to provide the required financial information at the time
of filing this report. The required financial information will be filed by
amendment to this Form 8-K not later than January 12, 2000.
(b) Pro Forma Financial Information
It is impractical to provide the required pro forma financial information
at the time of filing this report. The required financial information will
be filed by amendment to this Form 8-K not later than January 12, 2000.
(c) Exhibits
2.1 Merger Agreement by and among IAC Acquisition Corporation, West-Tech
Communications Corp., and Dave Clappisi filed as Exhibit 2 (g) to
Registration Statement on Form 10-SB/A (File No. 0-30220) is incorporated
herein by reference.
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SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Communications World International, Inc.
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(Registrant)
Date: November 8, 1999 /s/ James M. Ciccarelli
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James M. Ciccarelli, Chief Executive Officer
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