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: August 31, 2004
WORLD TRANSPORT AUTHORITY, INC.
(Exact name of registrant as specified in its charter)
Alberta, BC 93-1202663
(State of Incorporation) (I.R.S. Employer Identification No.)
140 West Park Avenue
El Cajon, California 92020
(Address of Principal Executive Offices)
(619) 593-2440 Fax: (619) 593-2444
(Registrant's telephone and fax number, including area code)
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Item 5. Other Events.
On July 9, 2004, Autotech International Corporation, a wholly owned
subsidiary of World Transport Authority, Inc., an Alberta corporation,
entered into an Conditional Sales of Assets Agreement with WorldStar
Pacific, Inc. a Philippine corporation, for the purchase of all WorldStar
Pacific, Inc.'s assets, both hard assets and intellectual assets, including,
but not limited to all its rights to a Master License Agreement with World
Transport Authority, Inc., a Nevada corporation. The purchase price is
$400,000.00 USD plus two million shares at $.04 per share of World Transport
Authority, Inc., an Alberta corporation, 144 restricted stock. Per the
contract, a first payment of $100,000.00 USD has been made. Autotech
International Corporation also assumed approximately $45,000.00 of
outstanding liabilities of WorldStar Pacific, Inc.
In anticipation of the purchase of assets from WorldStar Pacific, Inc.,
Autotech International Corporation formed a wholly owned Philippine
subsidiary corporation, Millenium Autotech International Corporation.
Millenium Autotech International Corporation was capitalized with the assets
purchased from WorldStar Pacific, Inc., including, but not limited to molds,
jigs, plugs, and other parts necessary to produce factories to build the
WorldStar utility vehicles, a number of partially completed WorldStar
vehicles, engines and other parts necessary to complete the vehicles, all
existing contracts, and all intellectual property rights know and unknown
that WorldStar Pacific, Inc. owns, including the World Transport Authority,
Inc. Master License Agreement for Asia. Millenium Autotech International
Corporation was also capitalized with $210,000.00 USD. Gary Cannon, World
Transport Authority, Inc.'s General Counsel was appointed President of
Millenium Autotech International Corporation. Bryan Hammer, an American who
is a resident of the Philippines, and has operated businesses in the
Philippines for 18 years, was appointed Vice-President and General Manager.
Millenium Autotech International Corporation will be the production company
to produce the factories which build the WorldStar vehicles. Millenium
Autotech International Corporation has shipped three vehicles and the first
production factory under the Cameron International LLC contract entered into
in December of 2003.
On August 11, 2004, after considerable discussion between the parties,
World Transport Authority, Inc., a Nevada corporation, and wholly owned
subsidiary of World Transport Authority, Inc., an Alberta corporation,
terminated its Master License Agreement with WorldStar Andino Corp., a
Panamanian corporation, and WorldStar Paez S.A., a Colombian corporation,
for breach of their obligations under these contracts.
World Transport Authority, Inc. Board of Directors reluctantly accepted
the resignation of John F. Tidy from the Board of Directors of World
Transport Authority, Inc., on August 15, 2004, due to consuming
responsibilities as Manager of Product Development for Autotech
International Corporation, a wholly owned subsidiary or World Transport
Authority, Inc., an Alberta corporation. As of August 30, 2004 Mr. Tidy's
seat on the World Transport Authority, Inc.'s, Board of Directors has not
been filled. The Board of Directors has expressed its hart felt thanks for
Mr. Tidy's service with the Board.
On August 27, 2004, Roger S. Brown voluntarily resigned his position as
Secretary of World Transport Authority, Inc. for logistical reasons. He
remains a member of the World Transport Authority, Inc. Board of Directors,
and Vice-President for Investor Relations.
On August 31, 2004, George I. Bates, corporate Treasurer and a current Board
Member of World Transport Authority, Inc., was appointed to the office of
Secretary of the corporation. Mr. Fowler remains a Board Member of the
corporation.
SIGNATURE
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.
World Transport Authority, Inc.
Date: August 31, 2004 By: /s/ William C. Kennedy
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William C. Kennedy
Chief Executive Officer
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