Here's the latest from UDTA filings (change in Directors):
RULE 14F-1
REPORT OF CHANGE IN MAJORITY OF DIRECTORS
INFORMATION PURSUANT TO SECTION 14(f) OF THE
SECURITIES EXCHANGE ACT OF 1934
ULTRADATA SYSTEMS, INCORPORATED
1240 Dielman Industrial Court
St. Louis, MO 63132
This report is furnished by the Board of Directors of Ultradata Systems,
Incorporated, a Delaware corporation ("Ultradata"), to the holders of its
common stock, $.01 par value. Information in this report regarding Warner
Technology & Investment Corp. ("Warner Technology") and John C. Leo has been
provided to Ultradata by Warner Technology.
On June 1, 2006 Ultradata entered into a Stock Purchase Agreement with Warner
Technology, pursuant to which Warner Technology purchased 210,000 shares of
Ultradata's Series B Preferred Stock for $210,000 in cash paid on that date.
The holder of the Series B shares will be entitled to cast 51% of the votes at
any shareholders meeting. Warner will be entitled to convert the Series B
stock into 10% of the outstanding Ultradata shares, but only if Ultradata has
acquired an operating company during 2006. Otherwise the Series B Preferred
Stock will be cancelled.
Pursuant to the terms of the Stock Purchase Agreement, the present directors
of Ultradata have elected to the Board a designee of Warner, John C. Leo, and
have submitted their resignations from the Board. The election and the
resignations will be effective ten days after Ultradata mails this information
statement to its record shareholders. After that change of control, the new
Board of Directors - i.e. Mr. Leo - will bear responsibility for negotiating
the acquisition by Ultradata of an operating company.
This report is provided for information purposes only. We are not soliciting
proxies in connection with the matters described in this report. You are not
requested to respond to this report in any way.
This report will first be mailed to the shareholders of Ultradata on or about
June 27, 2006.
VOTING SECURITIES AND PRINCIPAL HOLDERS THEREOF
There are two classes of Ultradata voting stock outstanding:
* There are 17,548,665 shares of Ultradata common stock outstanding.
Each share is entitled to one vote.
* There are 210,000 shares of Series B Preferred Stock outstanding.
The holder of the Series B Preferred Stock is entitled to cast votes
equal to 51% of all votes cast by all classes of voting stock.
The following table sets forth the number of Ultradata shares of each class
of voting stock owned by (a) each person who, as of the date of this
Report, owns of record, or is known by Ultradata to own beneficially, more
than 5% of either class of Ultradata common stock, (b) each current director
of Ultradata and all current officers and directors as a group, and (c) John
C. Leo, who will become the sole director of Ultradata ten days after this
Report is mailed.
