ITEM 8.01 OTHER EVENTS
On November 15, 2004, we filed form 8K to report and file a press release
regarding "Lantax Prepared To Fund SkyWay Communications Holding Corp. With $24
Million." We are filing this amended 8K to clarify and update certain statements
On December 16, 2004, the Company signed a Collateralized Loan Agreement
with Lantex, LTD. which provides up to $24 million in loans that will be
collateralized with shares of our common stock at a rate of 85% loan to value.
The loan matures with all principle due on December 8, 2009, interest payable
quarterly commencing on March 9, 2005 at a rate of Prime plus 1%. Origination
fees of 3% of principle and 2% of collateral value will be charged and deducted
Lantex has discussed with us that they will fund loans based on certain
operating milestones which are not yet finalized and are subject to change at
any time. There are no obligations for Lantex to fund the loan amounts. As a
result of the foregoing, there are no assurances that we will agree to or meet
any milestones or that any or all of the loan amounts will be provided.