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): July 20, 2002
TELEMAX GLOBAL COMMUNICATIONS, INC.
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(Exact name of Registrant as specified in its charter)
Washington 0-26351 81-0440517
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(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation) Identification No.)
736 Dundas Street East, Toronto, Ontario, Canada M5A 2C3
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (416) 703-0334
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TABLE OF CONTENTS
Page No.
ITEM 5. OTHER EVENTS...................................................1
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS..............................1
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SIGNATURE...................................................................2
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ITEM 5. OTHER EVENTS
Telemax Global Communications, Inc. (the "Company") has finalized arrangements
to acquire and deploy a long distance telephone and data switching system in
Toronto, Canada. This is the first of three such switches which the Company
plans on acquiring and deploying in Canada over the next eighteen months. The
deployment of these telephone routing switches are intended to replace the long
distance service previously provided by Canquest Communications (Canada), Inc.,
which was the primary service provider in Canada for the Company's subsidiary,
Telemax Communications, Inc. Although the Company has signed a service agreement
with another service provider to handle several of the Company's telephone/data
programs in the Province of Ontario, Telemax Communications, Inc. expects to
temporarily suspend some of its programs until access to other telephone
services can be arranged. By owning its own switching facilities in Canada, the
Company hopes to realize significant cost savings in the routing of long
distance traffic and gain the ability to interface its equipment with other
value added services that it plans to introduce to the market. The Company
expects to have the Toronto switching system online during the final calendar
quarter of 2002.
The transition of the Company's long distance traffic to its own switch facility
is expected to affect only its Canadian operations and will not affect its
operations in the United States or operations in other countries.
As part of the decision to discontinue telephone services provided by Canquest,
Telemax Communications, Inc. has filed a $32,000,000 lawsuit against Canquest
for billing errors, over-charges and other damages. This action was filed on
July 24, 2002, in the Superior Court of Ontario, file number 233323CM2. At this
early stage of litigation, management cannot predict what amount of recovery, if
any, or when such recovery will be realized.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release dated August 15, 2002.
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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 its behalf by the
undersigned hereunto duly authorized.
Date: August 15, 2002 TELEMAX GLOBAL COMMUNICATIONS, INC.
/s/ Evan Karras
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Evan Karras, Chief Executive Officer and President
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