Item 1.01. Expiration of Merger Agreement with Lightyear Network Solutions.
As described in 8K filing on August 14 , 2008 Wherify Wireless, Inc. announced that it had entered into a Merger Agreement with Lightyear Network Solutions , which was conditioned on the merged companies being able to raise fifteen million dollars in financing. The Agreement automatically expired on November 30, 2008 when the companies were unable to complete the financing required by the agreement due to the economic conditions plaguing the financial markets. Wherify and Lightyear Network Solutions are considering a possible technology license agreement while the efforts to complete the contemplated merger continue. Wherify is also investigating alternative business combinations in the marketplace.
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