Venezuelan Investor Tomasello Accumulates 5% Stake in WorldGate (WGAT)

In a 13D filing on WorldGate Communications (Nasdaq: WGAT), Venezuelan investor Antonio Tomasello disclosed a 5.05% (2 million share) stake in the company. Tomasello said the he has acquired the securities described herein for investment purposes only, he has no plans that relate to or that will result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D.In the filing, Tomasello reported aggressive buying activity in the stock from 06/09/06-07/27/06.On July 11th, WorldGate and Alta Vista Management entered into a resale and supply agreement for WorldGate's Ojo Shadow personal video phone and the Ojo video phone service in Latin America.
In the filing, Tomasello reported aggressive buying activity in the stock from 06/09/06-07/27/06.
On July 11th, WorldGate and Alta Vista Management entered into a resale and supply agreement for WorldGate's Ojo Shadow personal video phone and the Ojo video phone service in Latin America.