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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): April 19, 2001
(April 17, 2001)
WORLD ACCESS, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-29782 58-2398004
(State of (Commission File No.) (I.R.S. Employer
Incorporation) Identification No.)
945 E. PACES FERRY ROAD, SUITE 2200
ATLANTA, GEORGIA 30326
(Address of principal executive offices, including zip code)
(404) 231-2025
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
As of April 17, 2001, World Access is delinquent in filing its Annual
Report on Form 10-K for the year ended December 31, 2000 (the "Form 10-K"). On
April 2, 2001, the Company filed a Notification of Late Filing on Form 12b-25
relating to the Form 10-K, but was unable to file the Form 10-K within 15 days
thereafter primarily because of the time and effort of members of the Company's
financial and legal management team and the Company's auditors that has been
required as a result of, and valuation issues resulting from, the involuntary
bankruptcy petition filed against the Company on April 4, 2001 by three holders
of the Company's 13.25% Senior Notes due 2008 (the "Notes"), the resulting
negotiations with the holders of the Notes and the negotiations between TelDafax
AG and Deutsche Telekom AG, each of which has recently been reported by the
Company through press releases and other Current Reports on Form 8-K. Because of
the failure to file, the Company does not meet the "adequate current public
information" requirement contained in Rule 144(c) promulgated under the
Securities Act of 1933, as amended, and the Company's stockholders may not rely
on Rules 144 or 145 for the resale of restricted securities. In addition,
selling security holders may no longer utilize the Company's registration
statements on Form S-3 (Registration Nos. 333-79097, 333-33638, and 333-52092)
for the resale of the restricted securities referenced therein.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
WORLD ACCESS, INC.
Date: April 19, 2001 By: /S/ Bryan D. Yokley
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Bryan D. Yokley
Executive Vice President and
Chief Financial Officer