ITEM 8.01 - OTHER ITEMS
Calypso Wireless, Inc ("the Company") received Notice by Mr. Drago Daic on July
8, 2009 that the deadline stated in his demand letter dated June 24, 2009 is
extended from July 9, 2009 until August 3, 2009. No other terms or revisions to
this letter were requested or made. The June 24, 2009 demand letter was attached
as Exhibit III to the Company's 8K filing on June 29, 2009.
The Company's Audit Committee has not yet made a determination as to the
validity of the underlying agreement (Exhibit I of the Company's 8K filed
6/29/09) upon which the demand letter is based. Investigation, and review with
Counsel, of this issue by the Committee continues.
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