SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


Date of Report (Date of earliest                       Commission File Number:
      event reported):                                           1-10210
      AUGUST 23, 1999


                                  eGLOBE, INC.
             (Exact name of registrant as specified in its charter)


             DELAWARE                                    13-3486421
  (State or other jurisdiction                         (IRS Employer
          of incorporation)                         Identification Number)


                        1250 24TH STREET, N.W., SUITE 725
                             WASHINGTON, D.C. 20037

              (Address of principal executive offices) (Zip Code)

               Registrant's telephone number, including area code:
                                 (202) 822-8981


          (Former name or former address, if changed since last report)

                                 NOT APPLICABLE



<PAGE>


                                  eGLOBE, INC.

ITEM 5                   OTHER EVENTS

GENERAL

                  This is the second in a series of public  filings with the SEC
that  eGlobe,   Inc.  ("the  Company")  is  making  in  compliance  with  Nasdaq
requirements regarding the listing of the Company on the Nasdaq National Market.
The first  filing was a Form 8-K filed  with the SEC on  September  3,  1999;  a
fuller explanation of the facts and circumstances  surrounding the Nasdaq filing
requirement   is  included  in  the   September   8-K,   along  with   pertinent
correspondence  between Nasdaq and the Company.  The 8-K filed by the Company on
September 3, 1999 is incorporated herein by reference.  Nasdaq does not obligate
the Company to amke additional 8-K filings.

LISTING ON THE NASDAQ NATIONAL MARKET

                  In  order to  maintain  its  listing  on the  Nasdaq  National
Market,  Nasdaq  requires  that the Company make a public filing with the SEC on
October  15,  1999  which  includes  an  August  31,  1999  unaudited  condensed
consolidated  balance sheet which evidences,  on a pro forma basis, a minimum of
$20 million of net tangible assets.

                  In the opinion of the Company and its advisors,  the unaudited
pro forma condensed  consolidated  balance sheet included in this Form 8-K meets
the $20 million net tangible  asset  requirement.  In  consequence,  the Company
assumes that with this filing it has met all of the higher standards  imposed on
it by Nasdaq.  There is no assurance,  however, that Nasdaq will not differ with
the Company  or impose  subsequent  or  additional requirements.  If the Company
is unable to meet any  requirement,  the Company's  Common Stock likely would be
transferred  to the Nasdaq Small Cap Market or the OTC Bulletin  Board.  Such an
event could  impair the  liquidity  of the Common Stock,  subject  it  to  price
fluctuations,  and  make  future  financings or acquisitions by the Company more
difficult.

RECENT TRANSACTIONS

         Acquisition  of  Transaction  Support  Services  and  Call  Center.  On
September 20, 1999 the Company acquired control of Oasis Reservations  Services,
Inc. ("ORS"), a Miami-based  transaction  support services and call center, from
its sole stockholder,  Outsourced  Automated  Services  ("Oasis").  ORS provides
customer care and transaction  support  services  employing both Internet access
and traditional  telephone access. ORS supplies outsource services to the travel
industry and to eCommerce providers.

         The Company and Oasis formed  eGlobe/Oasis  Reservations LLC, a limited
liability company (the "LLC"), which is responsible for conducting ORS' business
operations.  The Company  manages and  controls  the LLC and receives 90% of the
profits  and losses  from ORS'  business.  The LLC was  funded by  contributions
effected by the members under a  Contribution  Agreement,  dated as of September
15, 1999 (the "Contribution  Agreement").  The Company


<PAGE>


issued 1.5 million shares of its Common Stock,  valued at $3 million on the date
of  issuance,  as  its  contribution  to  the  LLC.  In  addition,  the  Company
contributed certain contingent warrants to purchase additional shares of Company
Common Stock to the LLC. Oasis  contributed its shares of stock in ORS valued at
$2.3 million to the LLC. The  acquisition  was  accounted for using the purchase
accounting  method of accounting.  The  preliminary  purchase  price  allocation
reflects the preliminary  estimates of the fair value of the assets acquired and
liabilities assumed based on management's review and third-party appraisals. The
final purchase  price  allocation  will be determined as additional  information
becomes  available.  See Form 8-K filed on October 5, 1999 for greater detail on
this acquisition.

Acquisition of  telecommunications  infrastructure  supplying Latin America.  On
October 14, 1999, the Company acquired iGlobe, Inc.  ("iGlobe"),  a wholly owned
subsidiary  of  Highpoint  Telecommunications,   Inc.  Recently  established  by
Highpoint,  iGlobe has created an  infrastructure  supplying  telecommunications
services,  including Internet Protocol ("IP") Services,  particularly Voice over
IP ("VoIP"),  throughout Latin America. With this purchase, the Company acquires
critical  operating  capabilities:  licenses  to operate in four Latin  American
countries,  twelve reciprocal operating agreements with Latin American carriers,
a teleport in Mountain View,  California,  a transponder  lease with coverage of
Latin  America,  and long term  leases  for  international  fiber  optic  cable;
international  gateway  switches  located in New York, Los Angeles and Denver, a
carrier billing system and IP operating systems  compatible with those currently
utilized by the  Company.  iGlobe's  network in Latin  America  complements  the
network the  Company is building in Asia and the rest of the world.  The Company
purchased  iGlobe with  convertible  preferred  stock that is  convertible  into
approximately  3.77 million  shares of Company  Common Stock after one (1) year.
Additionally, the Company assumed approximately  $2.8  million  of  liabilities.
This  transaction  will be reflected in a separate 8-K filing within  15 days of
the closing date.  The acquisition was accounted for using the  purchase  method
of  accounting.  The  preliminary  purchase    price  allocation  reflects  the
preliminary  estimates of the fair value of the assets acquired and  liabilities
assumed based on management's  review and  preliminary  third-party  appraisals.
The final purchase price allocation will be determined as additional information
becomes available.

Addition of New Capital.  The Company is raising  additional  equity through the
sale of convertible preferred stock to accredited  investors,  as defined by the
Securities  Exchange  Act of 1934.  $2 million  has been  received  in the first
closing in this series of convertible preferred stock. The Securities will pay a
dividend, annually in arrears, at a fixed rate per annum of 8%. Dividends may be
paid in cash or stock at the option of the Investor or, if the investor makes no
choice, at the option of the Company.  For the purposes of determining the value
of any common  stock issued for the payment of  dividends,  the market price per
share of the  common  stock of eGlobe at the time of  dividend  payment  will be
used.

The Holders of the  preferred  stock shall have the right at any time to convert
the preferred stock into shares of Common Stock of eGlobe. The stock converts at
a percentage  of  market  price  at the date of conversion but within in a range
between 101% and 150% of market price at the time the preferred is purchased.

The Securities shall automatically convert into shares of Common Stock of eGlobe
upon any one of the  following  events:  the Common Stock of eGlobe trades at or
above a price per share of $6


<PAGE>


for 15 consecutive  trading days;  eGlobe  completes a public offering of equity
securities with proceeds in excess of $25 million.

Goodwill Adjustments based on asset appraisals of acquisitions.  The Company has
obtained   appraisals  from   independent   appraisers  of  the  assets  of  IDX
International, Inc. ("IDX") and UCI Tele Networks, Ltd. ("UCI"). These companies
were acquired in December 1999 and the  preliminary  purchase price  allocations
were  subject  to  final  appraisals  as  well  as  the  resolution  of  certain
contingencies.   These  appraisals   resulted  in  a  net   reclassification  of
approximately  $4.9  million of IDX goodwill and $0.6 million of UCI goodwill to
other identifiable  intangibles.  These  reclassifications  are reflected on the
August 1999 unaudited condensed  consolidated  balance sheet. The final purchase
price allocations are still subject to the resolution of certain contingencies.


UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

<PAGE>



                                  eGLOBE, INC.
            UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
                              AS OF AUGUST 31, 1999


<TABLE>
<CAPTION>
                                                            eGlobe
                                                          As of 8/31/99      Adjustments             Pro Forma
                                                         --------------     -------------            ----------
<S>                                                       <C>              <C>                     <C>
ASSETS
CURRENT
 Cash and cash equivalents                                $  1,671,000     $  2,003,000 (1),(3)     $  3,674,000
 Accounts receivable, net                                    8,284,000          483,000 (1)            8,767,000
 Other current assets                                        1,310,000        1,092,000 (1),(2)        2,402,000
                                                          -------------    ------------              ------------
TOTAL CURRENT ASSETS                                        11,265,000        3,878,000               14,843,000
                                                          -------------    ------------              ------------
PROPERTY AND EQUIPMENT, NET                                 17,853,000        6,248,000 (1),(2)       24,101,000
GOODWILL, NET                                                8,284,000        1,496,000 (2)            9,780,000
OTHER INTANGIBLES, NET                                      16,633,000        4,400,000 (1),(2)       21,033,000
OTHER ASSETS                                                 1,450,000        1,950,000 (2)            3,400,000
                                                          -------------    ------------              ------------
TOTAL ASSETS                                             $  55,485,000    $  17,972,000             $ 73,157,000
                                                          -------------    ------------              ------------

LIABILITIES, REDEEMABLE PREFERRED STOCK, MINORITY INTEREST IN LLC AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts payable                                        $  7,734,000      $   415,000 (1),(2)     $  8,149,000
  Accrued expenses                                           8,009,000                -                8,009,000
  Notes payable principally related to acquisitions          1,125,000                -                1,125,000
  Note payable and current maturities of long-term debt      7,286,000        1,251,000 (2),(4)        8,537,000
  Other current liabilities                                  2,637,000          546,000 (1),(2)        3,183,000
                                                          -------------    ------------              ------------
TOTAL CURRENT LIABILITIES                                   26,791,000        2,212,000               29,003,000
                                                          -------------    ------------              ------------
LONG-TERM DEBT, NET OF CURRENT  MATURITIES                   8,586,000         (331,000)(2),(4)        8,255,000
                                                          -------------    ------------              ------------
TOTAL LIABILITIES                                           35,377,000        1,881,000               37,258,000
                                                          -------------    ------------              ------------
REDEEMABLE PREFERRED STOCK                                   3,036,000       (3,036,000)(5)                   -
                                                          -------------    ------------              ------------
MINORITY INTEREST IN LLC                                           ___        2,268,000 (1)            2,268,000
                                                          -------------    ------------              ------------
STOCKHOLDERS' EQUITY
   Preferred stock                                               2,000                -                    2,000
   Common stock                                                 21,000                -                   21,000
   Additional paid-in capital                               67,513,000       18,679,000 (6)           86,192,000
   Stock to be issued                                        4,269,000                -                4,269,000
   Accumulated deficit                                     (54,922,000)      (2,120,000)(6)          (57,042,000)
   Accumulated other comprehensive loss                        189,000              ___                  189,000
                                                          -------------    ------------              ------------
TOTAL STOCKHOLDERS' EQUITY                                  17,072,000       16,859,000               33,631,000
                                                          -------------    ------------              ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY               $  55,485,000    $  17,972,000            $  73,157,000
                                                          -------------    ------------              ------------
</TABLE>

See notes to the unaudited pro forma condensed consolidated balance sheet.


<PAGE>
                                  eGLOBE, INC.
             NOTES TO PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)

The transactions described in Item 5, "Other Transactions," are discussed below:

(a)  On September 20, 1999 the Company  acquired  control of Oasis  Reservations
     Services, Inc. ("ORS"), a Miami-based transaction support services and call
     center, from its sole stockholder, Outsourced Automated Services ("Oasis").
     The  Company  and Oasis  formed  eGlobe/Oasis  Reservations  LLC, a limited
     liability  company (the "LLC"),  which is responsible  for conducting  ORS'
     business operations.  The Company manages and controls the LLC and received
     90% of the  profits and losses  from ORS'  business.  The LLC was funded by
     contributions  effected by the members under a Contribution Agreement dated
     as of September 15, 1999 (the "Contribution Agreement"). The Company issued
     1.5 million shares of its Common Stock, valued at $3 million on the date of
     issuance,  as its  contribution  to  the  LLC.  In  addition,  the  Company
     contributed  certain contingent  warrants to purchase  additional shares of
     the Company  Common Stock to the LLC. Oasis  contributed  its shares in ORS
     valued at $2.3  million  to the LLC.  See Form 8-K filed on October 5, 1999
     for greater detail  regarding this  acquisition.  The preliminary  purchase
     price  allocation  reflects the preliminary  estimates of the fair value of
     the assets  acquired and liabilities  assumed based on management's  review
     and preliminary third party appraisals. The final purchase price allocation
     will be determined as additional information becomes available.

(b)  On October 14, 1999,  the Company  acquired  iGlobe,  Inc. for an aggregate
     purchase  price  of  $9,943,000  consisting  of (i)  Series  M  Convertible
     Preferred  Stock valued at  $9,643,000,  (ii) direct  acquisition  costs of
     approximately  $300,000,  and  (iii) a note  payable  November  1, 1999 for
     approximately  $1.3  million to the seller for  iGlobe's  cash flow deficit
     from August 1, 1999 to the closing date. The  acquisition was accounted for
     using the purchase  method of accounting.  The  preliminary  purchase price
     allocation  reflects  the  preliminary  estimates  of the fair value of the
     assets  acquired and liabilities  assumed based on management's  review and
     preliminary third  party appraisals.  The  inal purchase  price  allocation
     will be determined as additional information becomes available.

(c)  Issuance of  Preferred  Stock to Prepay $4 million of $20  million  note to
     EXTL  Investors.  The Company and EXTL Investors  agreed on August 18, 1999
     that the  Company  will  issue to EXTL  Investors  40 shares of 5% Series J
     Cumulative  Convertible  Preferred Stock as prepayment of $4 million of the
     outstanding $20 million secured note to EXTL Investors.  The carrying value
     of the $4 million portion of the note, net of unamortized  discount of $2.1
     million,  was approximately  $1.9 million.  The excess of the fair value of
     the Series J Preferred  over the carrying value of the note of $2.1 million
     will be recorded as a loss on debt extinguishment in October 1999. The $4.0
     million  prepayment was allocated to reflect a reduction of $649,000 in the
     current  portion  of the  note  with  the  remainder  to  reduce  long-term
     maturities.  See the  Company's  8-K filed on September 3, 1999 for greater
     detail regarding this transaction.

(d)  On  September  3,  1999,  the  Company  issued  30  shares  of 5%  Series K
     Cumulative  Convertible  Preferred Stock ("Series K Preferred") in exchange
     for the share of Series G Cumulative Convertible Redeemable Preferred Stock
     ("Series G  Preferred").  See the  Company's 8-K filed on September 3, 1999
     for greater detail regarding this transaction.

(e)  On  October  15,  1999,  investors  purchased  2,000  shares  of  Series  N
     Cumulative  Convertible  Preferred Stock for an aggregate purchase price of
     $2,000,000.

The  following  pro forma  adjustments  to the  unaudited  pro  forma  condensed
consolidated  balance  sheet are as if the  above  transactions  occurred  as of
August  31,  1999:

(1)  To reflect the  consolidation of the LLC and the related  underlying assets
     and liabilities of ORS.

     ALLOCATION OF ASSETS AND LIABILITIES OF THE LLC:

          Cash                                 3,000
          Accounts receivable                483,000
          Other current assets               192,000
          Property and equipment             671,000
          Intangibles                      1,580,000
          Accounts payable                  (115,000)
          Current liabilities               (546,000)
          Minority Interest               (2,268,000)
                                          -----------
      TOTAL                              $       ___
                                          ===========
<PAGE>

                                  eGLOBE, INC.
             NOTES TO PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)

<TABLE>
<CAPTION>
<S>                                                                      <C>

(2)  To reflect the acquisition of iGlobe.  The components of the purchase price
     and its preliminary  allocation to the assets and liabilities  acquired are
     as follows:

 COMPONENTS OF PURCHASE PRICE:
    Company's Series M Convertible Preferred Stock                          $   9,643,000
    Direct acquisition costs                                                      300,000
    Note payable to seller of iGlobe                                            1,300,000
                                                                            --------------
 TOTAL PURCHASE PRICE                                                       $  11,243,000

 ALLOCATION OF PURCHASE PRICE:
    Property and equipment                                                      5,577,000
    Other current assets                                                          900,000
    Other assets                                                                1,950,000
    Intangibles                                                                 2,820,000
    Goodwill                                                                    1,496,000
    Current Maturities of Notes Payable                                          (600,000)
    Notes Payable - Long Term                                                    (900,000)
                                                                            --------------
                                                                                      ___
(3)  Adjustments to cash:                                                   ==============
  Proceeds from the sale of preferred stock                                 $   2,000,000
                                                                            ==============

(4)  Adjustments to debt:                                                   Notes payable/
                                                                            current  maturities      Long-term
                                                                            of long-term debt        debt, net

    Prepayment  of secured notes with Series J Preferred
    Stock, net of unamortized discount of $2,120,000 (See Note 6)           $  (649,000)             $(1,231,000)
                                                                            ============             ============

(5)  Adjustment to Redeemable Preferred Stock (See Note 6)

    Exchange of Series G Redeemable Preferred Stock for Series
        K Convertible Preferred Stock                                                                $(3,036,000)
                                                                                                     ============

(6)  Other adjustments to Stockholders' Equity:                           Additional                 Accumulated
                                                                        Paid-in Capital                Deficit
                                                                       -----------------             -------------
    Issuance  of  Series  J  Preferred  Stock                             $  4,000,000               $(2,120,000)
    Issuance of Series K Preferred  Stock (See Note 5)                       3,036,000                         -
    Issuance  of  Series M Preferred  Stock                                  9,643,000                         -
    Issuance  of  Series N Preferred Stock                                   2,000,000                         -
                                                                       -----------------             ------------
                                                                          $ 18,679,000              $(2,120,000)
                                                                       =================             ============
</TABLE>

<PAGE>

     (c) Exhibits.

     None.  The  Company's  8-K filed on  September 3, 1999 is  incorporated  by
     reference.


<PAGE>


                                    SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                              eGobe, Inc.

Date:  October 15, 1999                       By: /s/ Graeme S.R. Brown
                                                  ------------------------------
                                                  Graeme S.R. Brown
                                                  Associate General Counsel and
                                                  Assistant Secretary


<PAGE>


                                  EXHIBIT INDEX


 Exhibit            Description
--------            ------------

 None.              The Company's 8-K filed on September 3, 1999 is incorporated
                    by reference.
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 24962}]
{"company-data": {"conformed-name": "EGLOBE INC", "cik": "0000842807", "assigned-sic": "7389", "irs-number": "133486421", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10210", "film-number": "99729615"}, "business-address": {"street1": "1250 24TH STREET NW", "street2": "SUITE 725", "city": "WASHINGTON", "state": "DC", "zip": "20037", "phone": "3036912115"}, "mail-address": {"street1": "1250 24TH STREET NW", "street2": "SUITE 725", "city": "WASHINGTON", "state": "DC", "zip": "20037"}, "former-company": {"former-conformed-name": "EXECUTIVE TELECARD LTD", "date-changed": "19920703"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

Date of Report (Date of earliest                       Commission File Number:
      event reported):                                           1-10210
      AUGUST 23, 1999

                                  eGLOBE, INC.
             (Exact name of registrant as specified in its charter)

             DELAWARE                                    13-3486421
  (State or other jurisdiction                         (IRS Employer
          of incorporation)                         Identification Number)

                        1250 24TH STREET, N.W., SUITE 725
                             WASHINGTON, D.C. 20037

              (Address of principal executive offices) (Zip Code)

               Registrant's telephone number, including area code:
                                 (202) 822-8981

          (Former name or former address, if changed since last report)

                                 NOT APPLICABLE
eGLOBE, INC.

ITEM 5                   OTHER EVENTS

GENERAL

                  This is the second in a series of public  filings with the SEC
that  eGlobe,   Inc.  ("the  Company")  is  making  in  compliance  with  Nasdaq
requirements regarding the listing of the Company on the Nasdaq National Market.
The first  filing was a Form 8-K filed  with the SEC on  September  3,  1999;  a
fuller explanation of the facts and circumstances  surrounding the Nasdaq filing
requirement   is  included  in  the   September   8-K,   along  with   pertinent
correspondence  between Nasdaq and the Company.  The 8-K filed by the Company on
September 3, 1999 is incorporated herein by reference.  Nasdaq does not obligate
the Company to amke additional 8-K filings.

LISTING ON THE NASDAQ NATIONAL MARKET

                  In  order to  maintain  its  listing  on the  Nasdaq  National
Market,  Nasdaq  requires  that the Company make a public filing with the SEC on
October  15,  1999  which  includes  an  August  31,  1999  unaudited  condensed
consolidated  balance sheet which evidences,  on a pro forma basis, a minimum of
$20 million of net tangible assets.

                  In the opinion of the Company and its advisors,  the unaudited
pro forma condensed  consolidated  balance sheet included in this Form 8-K meets
the $20 million net tangible  asset  requirement.  In  consequence,  the Company
assumes that with this filing it has met all of the higher standards  imposed on
it by Nasdaq.  There is no assurance,  however, that Nasdaq will not differ with
the Company  or impose  subsequent  or  additional requirements.  If the Company
is unable to meet any  requirement,  the Company's  Common Stock likely would be
transferred  to the Nasdaq Small Cap Market or the OTC Bulletin  Board.  Such an
event could  impair the  liquidity  of the Common Stock,  subject  it  to  price
fluctuations,  and  make  future  financings or acquisitions by the Company more
difficult.

RECENT TRANSACTIONS

         Acquisition  of  Transaction  Support  Services  and  Call  Center.  On
September 20, 1999 the Company acquired control of Oasis Reservations  Services,
Inc. ("ORS"), a Miami-based  transaction  support services and call center, from
its sole stockholder,  Outsourced  Automated  Services  ("Oasis").  ORS provides
customer care and transaction  support  services  employing both Internet access
and traditional  telephone access. ORS supplies outsource services to the travel
industry and to eCommerce providers.

         The Company and Oasis formed  eGlobe/Oasis  Reservations LLC, a limited
liability company (the "LLC"), which is responsible for conducting ORS' business
operations.  The Company  manages and  controls  the LLC and receives 90% of the
profits  and losses  from ORS'  business.  The LLC was  funded by  contributions
effected by the members under a  Contribution  Agreement,  dated as of September
15, 1999 (the "Contribution  Agreement").  The Company
issued 1.5 million shares of its Common Stock,  valued at $3 million on the date
of  issuance,  as  its  contribution  to  the  LLC.  In  addition,  the  Company
contributed certain contingent warrants to purchase additional shares of Company
Common Stock to the LLC. Oasis  contributed its shares of stock in ORS valued at
$2.3 million to the LLC. The  acquisition  was  accounted for using the purchase
accounting  method of accounting.  The  preliminary  purchase  price  allocation
reflects the preliminary  estimates of the fair value of the assets acquired and
liabilities assumed based on management's review and third-party appraisals. The
final purchase  price  allocation  will be determined as additional  information
becomes  available.  See Form 8-K filed on October 5, 1999 for greater detail on
this acquisition.

Acquisition of  telecommunications  infrastructure  supplying Latin America.  On
October 14, 1999, the Company acquired iGlobe, Inc.  ("iGlobe"),  a wholly owned
subsidiary  of  Highpoint  Telecommunications,   Inc.  Recently  established  by
Highpoint,  iGlobe has created an  infrastructure  supplying  telecommunications
services,  including Internet Protocol ("IP") Services,  particularly Voice over
IP ("VoIP"),  throughout Latin America. With this purchase, the Company acquires
critical  operating  capabilities:  licenses  to operate in four Latin  American
countries,  twelve reciprocal operating agreements with Latin American carriers,
a teleport in Mountain View,  California,  a transponder  lease with coverage of
Latin  America,  and long term  leases  for  international  fiber  optic  cable;
international  gateway  switches  located in New York, Los Angeles and Denver, a
carrier billing system and IP operating systems  compatible with those currently
utilized by the  Company.  iGlobe's  network in Latin  America  complements  the
network the  Company is building in Asia and the rest of the world.  The Company
purchased  iGlobe with  convertible  preferred  stock that is  convertible  into
approximately  3.77 million  shares of Company  Common Stock after one (1) year.
Additionally, the Company assumed approximately  $2.8  million  of  liabilities.
This  transaction  will be reflected in a separate 8-K filing within  15 days of
the closing date.  The acquisition was accounted for using the  purchase  method
of  accounting.  The  preliminary  purchase    price  allocation  reflects  the
preliminary  estimates of the fair value of the assets acquired and  liabilities
assumed based on management's  review and  preliminary  third-party  appraisals.
The final purchase price allocation will be determined as additional information
becomes available.

Addition of New Capital.  The Company is raising  additional  equity through the
sale of convertible preferred stock to accredited  investors,  as defined by the
Securities  Exchange  Act of 1934.  $2 million  has been  received  in the first
closing in this series of convertible preferred stock. The Securities will pay a
dividend, annually in arrears, at a fixed rate per annum of 8%. Dividends may be
paid in cash or stock at the option of the Investor or, if the investor makes no
choice, at the option of the Company.  For the purposes of determining the value
of any common  stock issued for the payment of  dividends,  the market price per
share of the  common  stock of eGlobe at the time of  dividend  payment  will be
used.

The Holders of the  preferred  stock shall have the right at any time to convert
the preferred stock into shares of Common Stock of eGlobe. The stock converts at
a percentage  of  market  price  at the date of conversion but within in a range
between 101% and 150% of market price at the time the preferred is purchased.

The Securities shall automatically convert into shares of Common Stock of eGlobe
upon any one of the  following  events:  the Common Stock of eGlobe trades at or
above a price per share of $6
for 15 consecutive  trading days;  eGlobe  completes a public offering of equity
securities with proceeds in excess of $25 million.

Goodwill Adjustments based on asset appraisals of acquisitions.  The Company has
obtained   appraisals  from   independent   appraisers  of  the  assets  of  IDX
International, Inc. ("IDX") and UCI Tele Networks, Ltd. ("UCI"). These companies
were acquired in December 1999 and the  preliminary  purchase price  allocations
were  subject  to  final  appraisals  as  well  as  the  resolution  of  certain
contingencies.   These  appraisals   resulted  in  a  net   reclassification  of
approximately  $4.9  million of IDX goodwill and $0.6 million of UCI goodwill to
other identifiable  intangibles.  These  reclassifications  are reflected on the
August 1999 unaudited condensed  consolidated  balance sheet. The final purchase
price allocations are still subject to the resolution of certain contingencies.

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
eGLOBE, INC.
            UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
                              AS OF AUGUST 31, 1999
eGlobe
                                                          As of 8/31/99      Adjustments             Pro Forma
                                                         --------------     -------------            ----------
ASSETS
CURRENT
 Cash and cash equivalents                                $  1,671,000     $  2,003,000 (1),(3)     $  3,674,000
 Accounts receivable, net                                    8,284,000          483,000 (1)            8,767,000
 Other current assets                                        1,310,000        1,092,000 (1),(2)        2,402,000
                                                          -------------    ------------              ------------
TOTAL CURRENT ASSETS                                        11,265,000        3,878,000               14,843,000
                                                          -------------    ------------              ------------
PROPERTY AND EQUIPMENT, NET                                 17,853,000        6,248,000 (1),(2)       24,101,000
GOODWILL, NET                                                8,284,000        1,496,000 (2)            9,780,000
OTHER INTANGIBLES, NET                                      16,633,000        4,400,000 (1),(2)       21,033,000
OTHER ASSETS                                                 1,450,000        1,950,000 (2)            3,400,000
                                                          -------------    ------------              ------------
TOTAL ASSETS                                             $  55,485,000    $  17,972,000             $ 73,157,000
                                                          -------------    ------------              ------------

LIABILITIES, REDEEMABLE PREFERRED STOCK, MINORITY INTEREST IN LLC AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts payable                                        $  7,734,000      $   415,000 (1),(2)     $  8,149,000
  Accrued expenses                                           8,009,000                -                8,009,000
  Notes payable principally related to acquisitions          1,125,000                -                1,125,000
  Note payable and current maturities of long-term debt      7,286,000        1,251,000 (2),(4)        8,537,000
  Other current liabilities                                  2,637,000          546,000 (1),(2)        3,183,000
                                                          -------------    ------------              ------------
TOTAL CURRENT LIABILITIES                                   26,791,000        2,212,000               29,003,000
                                                          -------------    ------------              ------------
LONG-TERM DEBT, NET OF CURRENT  MATURITIES                   8,586,000         (331,000)(2),(4)        8,255,000
                                                          -------------    ------------              ------------
TOTAL LIABILITIES                                           35,377,000        1,881,000               37,258,000
                                                          -------------    ------------              ------------
REDEEMABLE PREFERRED STOCK                                   3,036,000       (3,036,000)(5)                   -
                                                          -------------    ------------              ------------
MINORITY INTEREST IN LLC                                           ___        2,268,000 (1)            2,268,000
                                                          -------------    ------------              ------------
STOCKHOLDERS' EQUITY
   Preferred stock                                               2,000                -                    2,000
   Common stock                                                 21,000                -                   21,000
   Additional paid-in capital                               67,513,000       18,679,000 (6)           86,192,000
   Stock to be issued                                        4,269,000                -                4,269,000
   Accumulated deficit                                     (54,922,000)      (2,120,000)(6)          (57,042,000)
   Accumulated other comprehensive loss                        189,000              ___                  189,000
                                                          -------------    ------------              ------------
TOTAL STOCKHOLDERS' EQUITY                                  17,072,000       16,859,000               33,631,000
                                                          -------------    ------------              ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY               $  55,485,000    $  17,972,000            $  73,157,000
                                                          -------------    ------------              ------------
See notes to the unaudited pro forma condensed consolidated balance sheet.
eGLOBE, INC.
             NOTES TO PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)

The transactions described in Item 5, "Other Transactions," are discussed below:

(a)  On September 20, 1999 the Company  acquired  control of Oasis  Reservations
     Services, Inc. ("ORS"), a Miami-based transaction support services and call
     center, from its sole stockholder, Outsourced Automated Services ("Oasis").
     The  Company  and Oasis  formed  eGlobe/Oasis  Reservations  LLC, a limited
     liability  company (the "LLC"),  which is responsible  for conducting  ORS'
     business operations.  The Company manages and controls the LLC and received
     90% of the  profits and losses  from ORS'  business.  The LLC was funded by
     contributions  effected by the members under a Contribution Agreement dated
     as of September 15, 1999 (the "Contribution Agreement"). The Company issued
     1.5 million shares of its Common Stock, valued at $3 million on the date of
     issuance,  as its  contribution  to  the  LLC.  In  addition,  the  Company
     contributed  certain contingent  warrants to purchase  additional shares of
     the Company  Common Stock to the LLC. Oasis  contributed  its shares in ORS
     valued at $2.3  million  to the LLC.  See Form 8-K filed on October 5, 1999
     for greater detail  regarding this  acquisition.  The preliminary  purchase
     price  allocation  reflects the preliminary  estimates of the fair value of
     the assets  acquired and liabilities  assumed based on management's  review
     and preliminary third party appraisals. The final purchase price allocation
     will be determined as additional information becomes available.

(b)  On October 14, 1999,  the Company  acquired  iGlobe,  Inc. for an aggregate
     purchase  price  of  $9,943,000  consisting  of (i)  Series  M  Convertible
     Preferred  Stock valued at  $9,643,000,  (ii) direct  acquisition  costs of
     approximately  $300,000,  and  (iii) a note  payable  November  1, 1999 for
     approximately  $1.3  million to the seller for  iGlobe's  cash flow deficit
     from August 1, 1999 to the closing date. The  acquisition was accounted for
     using the purchase  method of accounting.  The  preliminary  purchase price
     allocation  reflects  the  preliminary  estimates  of the fair value of the
     assets  acquired and liabilities  assumed based on management's  review and
     preliminary third  party appraisals.  The  inal purchase  price  allocation
     will be determined as additional information becomes available.

(c)  Issuance of  Preferred  Stock to Prepay $4 million of $20  million  note to
     EXTL  Investors.  The Company and EXTL Investors  agreed on August 18, 1999
     that the  Company  will  issue to EXTL  Investors  40 shares of 5% Series J
     Cumulative  Convertible  Preferred Stock as prepayment of $4 million of the
     outstanding $20 million secured note to EXTL Investors.  The carrying value
     of the $4 million portion of the note, net of unamortized  discount of $2.1
     million,  was approximately  $1.9 million.  The excess of the fair value of
     the Series J Preferred  over the carrying value of the note of $2.1 million
     will be recorded as a loss on debt extinguishment in October 1999. The $4.0
     million  prepayment was allocated to reflect a reduction of $649,000 in the
     current  portion  of the  note  with  the  remainder  to  reduce  long-term
     maturities.  See the  Company's  8-K filed on September 3, 1999 for greater
     detail regarding this transaction.

(d)  On  September  3,  1999,  the  Company  issued  30  shares  of 5%  Series K
     Cumulative  Convertible  Preferred Stock ("Series K Preferred") in exchange
     for the share of Series G Cumulative Convertible Redeemable Preferred Stock
     ("Series G  Preferred").  See the  Company's 8-K filed on September 3, 1999
     for greater detail regarding this transaction.

(e)  On  October  15,  1999,  investors  purchased  2,000  shares  of  Series  N
     Cumulative  Convertible  Preferred Stock for an aggregate purchase price of
     $2,000,000.

The  following  pro forma  adjustments  to the  unaudited  pro  forma  condensed
consolidated  balance  sheet are as if the  above  transactions  occurred  as of
August  31,  1999:

(1)  To reflect the  consolidation of the LLC and the related  underlying assets
     and liabilities of ORS.

     ALLOCATION OF ASSETS AND LIABILITIES OF THE LLC:

          Cash                                 3,000
          Accounts receivable                483,000
          Other current assets               192,000
          Property and equipment             671,000
          Intangibles                      1,580,000
          Accounts payable                  (115,000)
          Current liabilities               (546,000)
          Minority Interest               (2,268,000)
                                          -----------
      TOTAL                              $       ___
                                          ===========
eGLOBE, INC.
             NOTES TO PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)
(2)  To reflect the acquisition of iGlobe.  The components of the purchase price
     and its preliminary  allocation to the assets and liabilities  acquired are
     as follows:

 COMPONENTS OF PURCHASE PRICE:
    Company's Series M Convertible Preferred Stock                          $   9,643,000
    Direct acquisition costs                                                      300,000
    Note payable to seller of iGlobe                                            1,300,000
                                                                            --------------
 TOTAL PURCHASE PRICE                                                       $  11,243,000

 ALLOCATION OF PURCHASE PRICE:
    Property and equipment                                                      5,577,000
    Other current assets                                                          900,000
    Other assets                                                                1,950,000
    Intangibles                                                                 2,820,000
    Goodwill                                                                    1,496,000
    Current Maturities of Notes Payable                                          (600,000)
    Notes Payable - Long Term                                                    (900,000)
                                                                            --------------
                                                                                      ___
(3)  Adjustments to cash:                                                   ==============
  Proceeds from the sale of preferred stock                                 $   2,000,000
                                                                            ==============

(4)  Adjustments to debt:                                                   Notes payable/
                                                                            current  maturities      Long-term
                                                                            of long-term debt        debt, net

    Prepayment  of secured notes with Series J Preferred
    Stock, net of unamortized discount of $2,120,000 (See Note 6)           $  (649,000)             $(1,231,000)
                                                                            ============             ============

(5)  Adjustment to Redeemable Preferred Stock (See Note 6)

    Exchange of Series G Redeemable Preferred Stock for Series
        K Convertible Preferred Stock                                                                $(3,036,000)
                                                                                                     ============

(6)  Other adjustments to Stockholders' Equity:                           Additional                 Accumulated
                                                                        Paid-in Capital                Deficit
                                                                       -----------------             -------------
    Issuance  of  Series  J  Preferred  Stock                             $  4,000,000               $(2,120,000)
    Issuance of Series K Preferred  Stock (See Note 5)                       3,036,000                         -
    Issuance  of  Series M Preferred  Stock                                  9,643,000                         -
    Issuance  of  Series N Preferred Stock                                   2,000,000                         -
                                                                       -----------------             ------------
                                                                          $ 18,679,000              $(2,120,000)
                                                                       =================             ============
(c) Exhibits.

     None.  The  Company's  8-K filed on  September 3, 1999 is  incorporated  by
     reference.
SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                              eGobe, Inc.

Date:  October 15, 1999                       By: /s/ Graeme S.R. Brown
                                                  ------------------------------
                                                  Graeme S.R. Brown
                                                  Associate General Counsel and
                                                  Assistant Secretary
EXHIBIT INDEX

 Exhibit            Description
--------            ------------

 None.              The Company's 8-K filed on September 3, 1999 is incorporated
                    by reference.