Up-Date:
Directors
The Company has already announced the appointment of Sonny Rath as Chief Operating Officer and his election to the Board of Directors. He has come to WLGS from Qwest Communications in Denver and had previously worked with Verizon (GTE Mobilnet) for some thirteen years. Born in India, Sonny came to the United States as a teenager and has worked in telecommunications since his graduation from college.
Also elected to the Board of Directors was Jack Cutter. Jack is a long time shareholder of the Company. Jack was a director of Cutter Laboratories and chaired the first audit committee of that firm. He founded and was president of Pacific Waters, The California Cystic Fibrosis Research Foundation, Seabright Laboratories, and Cutter Lumber Products. He holds numerous patents, the latest being a Laser guided woodworking prduct. His substantial experience with startup and public companies will be a welcomed addition to the Board.
On the other hand, Wayne Caldwell, the company's Vice President and Counsel has resigned from the Board. He will remain as in-house counsel, Vice President, and Secretary of the corporation. Wayne has provided admirable service for the Company as a director and counsel but the substantially increased workload resulting from the reporting requirements the company now must meet has resulted in his decision to leave the Board and concentrate on his duties as counsel. (Surely, the recent rapid change in WLGS's BOD is a strengthening and reality approach to what Worldwide Wireless needs to do in order to best secure the future for shareholders. IMHO, I think that Mr. Caldwell will still remain a vital player to our future.)
Shareholder Meeting
As was noted in the filings with the Securities and Exchange Commission, the Company will be holding its annual shareholders meeting on or before March 1, 2001. It is expected that the specific time, date, and place of the meeting will be announced very soon.(Here is the only statement that I am concerned about. What better time to announce the official date? Here's a GUT FEELING...Watch for a PR before the end of MONDAY announcing the Shareholder Meeting Date!)
Funding
The Company is exploring several potential funding sources and programs and expects to make an announcement regarding funding in the near future.
(This, of course, is what we all await. One can only caution oneselves from 'overanalyzing' the word 'EXPECT'! And we can only hope to EXPECT the best of funding offers!)
