UNITED STATES
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): April 11, 2006
GLOBAL WATAIRE, INC.
(Exact name of registrant as specified in its charter)
NEVADA
(State or other jurisdiction of incorporation or organization)
000-31343 36-4567500
(Commission File Number) (IRS Employer Identification No.)
5050 DE SOREL, SUITE 110 H4P 1G5
MONTREAL, QUEBEC, CANADA (Zip Code)
(Principal executive offices)
(514) 395-8780
(Registrant's telephone number, including area code)
International Development Corp.
534 Delaware Avenue, Suite 412, Buffalo, New York 14202
(Former name or former address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act
ITEM 5.03. AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN
FISCAL YEAR.
On April 13, 2006, the stockholders of the Registrant approved:
- The grant of discretionary authority to the board of directors of the
Registrant to implement a reverse split of the Registrant's issued and
outstanding common stock on the basis of one post-consolidation share
for each 1,000 pre-consolidation shares;
- An amendment to the Registrant's Articles of Incorporation to provide
for the change in the Registrant's corporate name from International
Development Corp. to Global Wataire, Inc.; and
- An amendment to the Registrant's Articles of Incorporation to provide
for the creation of a second series of common stock to be known as
"Series B Common Stock."
On April 13, 2006, the board of directors of the Registrant approved
resolutions to:
- Immediately implement a reverse split of the Registrant's issued and
outstanding common stock on the basis of one post-consolidation share
for each 1,000 pre-consolidation shares; and
- File Articles of Amendment to the Registrant's Articles of
Incorporation changing the corporate name of the Registrant from
International Development Corp. to Global Wataire, Inc. and providing
for classes of the Registrant's common stock as set out in an exhibit
attached hereto; and
- Designate a portion of the Registrant's common stock as "Class B
Common Stock," which Class B Common Stock will consist of 50,000,000
shares, and in connection therewith, file the Certificate of
Designation for the Class B Common Stock attached hereto as an
exhibit.
ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
On April 11, 2006, Brian Robertson resigned as chief financial officer of
the Registrant, and Douglas Robertson resigned as a director of the Registrant,
with both of such resignations being effective as of January 31, 2006. There was
no disagreement between Messrs. Robertson and Robertson and the Registrant.
On April 13, 2006, Max Weissengruber resigned as president and chief
operating officer of the Registrant, effective immediately. There was no
disagreement between Mr. Weissengruber and the Registrant. Mr. Weissengruber
remains a director and was elected secretary of the Registrant, as discussed
below. Likewise, on April 13, 2006, the board of directors of the Registrant,
pursuant to the Bylaws of the Registrant, enlarged the board from five to six
members. In order to fill the vacancies created by the resignation effective
January 31, 2006 of Douglas Robertson as a director of the Registrant, and the
enlargement of the board of directors from five to six members, the board,
pursuant to the Bylaws of the Registrant, elected Sydney Harland and Edmund
Gorman to serve as directors of the Registrant.
Also on April 13, 2006, the board of directors of the Registrant elected
Betty-Ann Harland as chairman, Sydney Harland as president and chief executive
officer, Edmund Gorman as chief financial officer, and Max Weissengruber as
secretary.
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ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
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The following exhibits are filed herewith:
EXHIBIT NO. IDENTIFICATION OF EXHIBIT
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3.1 Articles of Amendment to the Registrant's Articles of
Incorporation changing the corporate name of the Registrant
from International Development Corp. to Global Wataire, Inc.
and providing for classes of the Registrant's common stock,
effective April 14, 2006.
4.1 Certificate of Designation for the Class B Common Stock
covering 50,000,000 shares of the common stock of the
Registrant, effective April 14, 2006.
SIGNATURES
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: April 13, 2006 GLOBAL WATAIRE, INC.
By /s/Sydney Harland
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Sydney Harland, President and
Chief Executive Officer
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