Venezuelan Investor Tomasello Raises Stake in WorldGate (WGAT) to 7%

In an amended 13D filing on WorldGate Communications (Nasdaq: WGAT) today, Venezuelan investor Antonio Tomasello disclosed a 7.02% (2.8 million share) stake in the company. This is up from the 6% stake Tomasello disclosed in a past 8/15 filing and the 5% stake he disclosed in the original 13D filing on 08/07.

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.

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