Development.

Pursuant to an Agreement and Plan of Merger effective May 11, 2000, World-Am Communications, Inc., a Florida corporation, organized in 1994, acquired 100% of all the outstanding shares of common stock Allmon Corporation, a Delaware corporation.

This acquisition was approved by the board of directors and a majority of the stockholders of Allmon and World Am on May 11, 2000. The Acquisition is intended to qualify as a reorganization within the meaning of Section 368(a)(1)(A) of the Internal Revenue Code of 1986, as amended. Upon effectiveness of the Acquisition, pursuant to Rule 12g-3(a) under the Securities Exchange Act of 1934, the Company...