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): June 27, 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.)
34 Delaware, SUITE 412 14202
BUFFALO, NEW YORK (Zip Code)
(Principal executive offices)
(716) 332-7150
(Registrant's telephone number, including area code)
5050 De Sorel, Suite 110
Montreal, Quebec, Canada H4P 1G5
(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 1.02. TERMINATION OF A MATERIAL AGREEMENT.
The Registrant announced on June 27, 2006 that it has terminated the
Exclusive License Agreement with Wataire Industries, Inc., a Nevada corporation,
executed on October 12, 2005, and reported on a Current Report on October 21,
2005. The license granted an exclusive license for the entire United States of
America covering certain processes and products relating to technology-based
water generation and purification. The license granted in October was
subsequently expanded by agreement of the parties to be worldwide. The license
agreement was perpetual, non-revocable, and assignable by the Registrant.
In connection with the termination of the license agreement, the Registrant
decided to terminate its relationship with Waitire Industries, Inc. and cancel
the issuance of 15,000,000 shares of the Registrant's Series C preferred stock,
par value $0.001 per share, and the 25,000 shares of Registrant's Series A
preferred stock, par value $0.001 per share, issued to Phil Fraser and William
Robertson. Each share of the Series C preferred stock was convertible into one
share of the Registrant's common stock and had voting rights equal to one share
of the Registrant's common stock. Each share of the Series A preferred stock
was convertible into 200 shares of the Registrant's common stock.
ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
On May 24, 2006, Max Weissengruber resigned as secretary and as a director
of the Registrant, effective immediately. There was no disagreement between Mr.
Weissengruber and the Registrant. Likewise, on June 27, 2006 the board of
directors of the Registrant, pursuant to the Bylaws of the Registrant, elected
Robert Glassen to serve as a director and elected Edmund Gorman to serve as a
director and Corporate Secretary of the Registrant.
ITEM 8.01. OTHER MATTERS.
The Registrant has relocated its principal executive offices back to 534
Delaware Avenue, Suite 412, Buffalo, New York 14202.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
None.
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: July 6, 2006 GLOBAL WATAIRE, INC.
By /s/ Sydney Harland
--------------------------------------
Sydney Harland,
President and Chief Executive Officer
-1-