December 12, 2000
ITEM 5. OTHER EVENTS
The Company has received an offer from a foreign company to buy a controlling interest of 510f the Company's issued and outstanding common stock. Further, the Company has been given written notice that if a friendly merger and/or buyout is not successful, this foreign entity will take any and all actions necessary to consummate a merger and/or buyout, including a hostile takeover. Since the receipt of the initial offer in October of 2000, the Company has been negotiating to keep this transaction on a friendly basis. However, there can be no assurances that the Company will be successful in its efforts. Read this entire filing at http://biz.yahoo.com/e/001212/tnav.ob.html More filings for TNAV.OB available from EDGAR Online