SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): DECEMBER 20, 2001
WORLD WIRELESS COMMUNICATIONS, INC.
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(Exact name of registrant as specified in its charter)
NEVADA
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(State or other jurisdiction of incorporation)
011-15837 87-0549700
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(Commission File Number) (I.R.S. Employer Identification No.)
5670 Greenwood Plaza Boulevard, Suite 340, Greenwood Village, Colorado 80111
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(Address of principal executive office)
303-221-1944
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(Registrant's telephone number, including area code)
ITEM 1. CHANGE IN CONTROL OF REGISTRANT
None.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
None.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
None.
ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
None.
ITEM 5. OTHER EVENTS
The Registrant previously reported on its Form 8-K filed on February 26, 2001
that The Pinnacle Fund, L.P., Barry M. Kitt, and Tom and Denise Hunse filed a
lawsuit against the Registrant in the Third Judicial District Court of Salt Lake
County, Utah (which was subsequently removed to the United States District Court
for the District of Utah) with respect to the purchase of a total of 230,000
shares of common stock of the Registrant at $3.00 per share in a private
placement transaction in February, 2000. The plaintiffs sought rescission of the
transaction and/or damages, including treble damages, which they allege arose
out of the Registrant's failure to file a Registration Statement on or before
December 31, 2000.
In mid December, 2001, the United States District Court in Utah approved the
plaintiffs' motion for leave to amend their pleadings to commence a lawsuit
against five individual defendants (David D. Singer, an officer-director, Donald
I. Wallace, a former officer-director, Malcolm Thomas, a director, Charles
Taylor, a director and a former officer, Kevin Childress) and to assert an
additional cause of action against them for the underlying state law securities
claim against the Company, and new causes of action against the Company for
breach of the implied covenant of good faith and fair dealing and promissory
estoppel, and a new cause of action for fraud against Mr. Singer. The plaintiffs
continue to seek the same relief originally sought by them.
The Company believes that it has meritorious defenses to such action and intends
to prosecute its defense of the action vigorously, but there can be no assurance
as to the outcome thereof. The Company will also vigorously contest these new
additional claims and believes it has meritorious defenses to these new claims,
and it is anticipated that the individual defendants named in the lawsuit will
do the same after they are served, although the Company cannot assure you of the
result in such lawsuit.
ITEM 6. REGISTRATION OF REGISTRANT'S DIRECTORS
None.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
None.
ITEM 8. CHANGES IN FISCAL YEAR
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Reporting Person has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized:
WORLD WIRELESS COMMUNICATIONS, INC.
December 20, 2001 By: /s/ David D. Singer
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David D. Singer, President