UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

Pursuant to Sections 13 or 15(d) of the Securities and Exchange Act of 1934

 -------------------------------------------------------------------------------
         Date of Report (Date of earliest event reported): April 6, 2001
 -------------------------------------------------------------------------------


                          WAVERIDER COMMUNICATIONS INC.
--------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)


                                     NEVADA

--------------------------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)



                               0-25680 33-0264030
--------------------------------------------------------------------------------
        (Commission File Number) (I.R.S. Employer Identification Number)



         255 Consumers Road, Suite 500, Toronto, Ontario, Canada M2J 1R4
--------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)



                                 (416) 502-3200

--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)



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




<PAGE>


Item 9.    Regulation FD Disclosure

This  document  contains  forward-looking  statements  that  involve  risks  and
uncertainties,  including  the risks  associated  with the  effect  of  changing
economic  conditions,  trends in the development of the Internet as a commercial
medium, market acceptance risks,  technological  development risks,  seasonality
and other risk factors detailed in the Company's filings with the Securities and
Exchange Commission

Can you provide more details on your recently announced LMS2100 and LMS3100?

WaveRider  recently  announced  extensions to its Last Mile Solution(R) family -
the LMS2100 and the LMS3100.  Both products are an  economical  entry point into
WaveRider's  Last Mile Solution (LMS) family.  They allow an ISP to start with a
low cost  solution  that  can  later  be  upgraded  to the  larger  LMS  network
solutions.

Features of the LMS2100 include:

o         Capacity for up to 90 commercial LANs per system
o         Provides transmission rates of up to 11 MBPS o Range -
          up to 10 miles (16 km)
o         Uses the  License  exempt 2.4 GHz  frequency  band
o         Connects to a standard IP router
o         Fully upgradeable to a network-managed WaveRider LMS2000 system

Features of the LMS3100 include:

o        Capacity for up to 300 subscribers per system
o        Provides both line of sight and non-line of sight capability
o        1 Mbps maximum data rate
o        Range - up to 1 mile (1.5 km) non-line of sight
o        Range - up to 4 miles (7 km) line-of-sight
o        Uses the license exempt 902 - 928 MHz frequency band
o        High performance user installable indoor subscriber antenna
o        Fully upgradeable to a network-managed WaveRider LMS3000 system


We expect that the ability to upgrade to the full  WaveRider LMS systems will be
particularly  attractive  to  service  providers  in  developing  markets.  This
important feature allows for a much lower initial investment while providing the
ability to fully  enhance the system when the business  grows to the point where
the full  management and capacity  capabilities of a full function LMS system is
required.

The upgrade involves adding a WaveRider Network Access Point, which includes the
ability  to  increase  total  system  capacity  and  adds the  functionality  of
WaveRider's  Network  Management  System,  providing a central  access point for
Internet  Access,  full system  based  management  of IP  addressing  and offers
optional  Advanced  Bandwidth  Manager.  There is only a software change made to
existing products, through remote access, to integrate all features.

We are currently conducting several Network Feasibility Assessments which is the
first step in the sales process.
<PAGE>

How is WaveRider's LMS3000 installation going at Platinum Communications?

After  several  months of testing the LMS3000  system at  Platinum's  High River
installation,  Platinum is now actively  marketing  wireless  Internet access to
both business and residential customers.  With about 100 subscribers at present,
the  network is  working  smoothly  and  efficiently  with  speeds in some cases
exceeding  1 Mbps.  Platinum  has  expressed  that its  customers  are more than
pleased with the performance of the wireless Internet access.

From  WaveRider's  perspective,   the  Platinum  experience  has  validated  our
non-line-of-sight  technology,  and,  of equal  importance,  has proven the WISP
business  case.  Platinum  plans to  accelerate  the build-out of its system and
plans to expand into several new communities in the coming months.

Platinum's  High  River  wireless  Internet  network  has  been  an  ideal  beta
installation  for WaveRider  given the proximity to our R & D center.  WaveRider
has learned much from the pilot  experience and this  knowledge will  facilitate
smoother  installations  in the future.  Platinum  has proven to be a valued and
supportive  customer  and has  been  most  cooperative  in  demonstrating  their
wireless  installation to prospective  customers and financial  analysts.  Their
support and cooperation is much appreciated.

In your most recent conference call you stated that WaveRider expects revenue to
exceed  $20  million  in  2001  and  projects   continued   revenue   growth  to
approximately  $80 million in 2002.  In addition,  you also stated that with the
progress on margins and ongoing  expense  control,  the company expects to break
even for the  month of  December  and to be  profitable  in 2002.  Are you still
comfortable with those projections at this time?

We have no  reason to change  our  expectation  at this  time.  WaveRider's  NCL
product  line and the LMS2000  have now been proven in the market  place with an
expanding list of satisfied customers. With the commercial launch of the LMS3000
and the  introduction  of the LMS2100 and the  LMS3100,  market  interest in the
company's  complete  product line is  accelerating.  We believe that our revenue
expectations remain realistic.

At the same time, recognizing the current market conditions, WaveRider is taking
actions to curtail all  discretionary  spending to control costs growth  without
impeding  the  projected  revenue  growth.  This is,  also,  in keeping with the
guidance provided.

How is the question of revenue recognition regulations impacting WaveRider.

When reporting  revenue,  public  companies are required to follow  specific SEC
rules and regulations. Failure to comply with these rules can result in negative
repercussions  as shown by some recent high profile  instances.  WaveRider takes
these  rules  extremely  seriously  and,  with  the  support  of  our  auditors,
PricewaterhouseCoopers, makes every effort to ensure compliance.

Standard  Accounting Bulletin (SAB) 101 set out very specific guidelines for the
recognition of revenue.  The rules not only require  shipment of product but the
conclusive evidence the ownership has passed to the customer,  that the customer
has the  ability to pay for the goods and that all  contract  requirements  have
been  fulfilled.  Issues such as warranty  and  returns  experience,  acceptance
clauses,  customer credit history, and anticipated product updates are all taken
into account.  For a relatively new company with new technology and new products
these issues become even more important. In practise, in this early stage of our
development,  each sales  contract must be  interpreted on its own which further
complicates revenue recognition and the audit process.
<PAGE>

Was the recent Las Vegas IWCE show successful for WaveRider?

The International  Wireless  Communications  Expo 2001 (IWCE) in Las Vegas was a
successful  show for WaveRider.  The event  featured more than 1,000  exhibitors
from the wireless and radio communications  industry, and attracted thousands of
representatives from companies all over North America and International  regions
looking for the latest in wireless communications.

WaveRider attracted more than 250 visitors to our booth with a specific interest
in delivering wireless Internet access in their regions.

IWCE2001  was the  venue  for the  official  commercial  launch  of  WaveRider's
LMS3000.  The result of 3 years of research and development,  the LMS3000 is now
the world's first fixed wireless non-line-of-sight wireless network.

Visitors were provided a demonstration of our new technology,  wireless end-user
modem  and  antenna  and were  able to  experience  the  speed  and  performance
first-hand via the LMS3000 link in the booth.

The new LMS3100 and LMS2100 entry-level  wireless networks were also featured at
our booth at IWCE.  We believe the LMS3100 was  extremely  well received and was
viewed as an ideal solution for wireless networking  companies to break into the
wireless  Internet  access  market  and serve  residential  and  small  business
customers.  We had to do several re-prints of the LMS3100 product sheets to keep
up with the demand for information on this product.

Since  one of the most  compelling  features  of  WaveRider's  non-line-of-sight
networks  is its  ability  to  enable  ISPs and  carriers  to serve  residential
customers, we attempted to feature this capability in our booth. A 10 by 10 foot
`house/home  office' was  constructed  in the booth,  complete with angled roof,
houseplants,  windows,  front  door - and even a  mailbox.  The  LMS3000  indoor
directional antenna was mounted in the window of the house and the LMS3000 modem
placed  next  to the PC on the  office  desk in the  house.  This  `home  office
computer'  was connected to the Internet via a wireless link to the LMS3000 CAP,
which was set up outside of the house.

Visitors to the booth watched television news stations via the Internet,  surfed
the web, viewed the webcam and downloaded movie trailers via the LMS3000.

If any  stakeholders  have  questions  on the  above  or any  other  issues,  we
encourage you to contact us.

                     WaveRider is a registered trademark of
                        WaveRider Communications Inc (C)
                            Copyright 2001 WaveRider
                               Communications Inc.


<PAGE>



Signatures:

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
Registrant  has duly caused this current  report on Form 8-K to be signed on its
behalf by the undersigned thereunto duly authorized.

Dated:  April 6, 2001

                                             WaveRider Communications Inc.

                                             Per: /s/ D. Bruce Sinclair
                                             ---------------------
                                             D. Bruce Sinclair, President & CEO
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{"company-data": {"conformed-name": "WAVERIDER COMMUNICATIONS INC", "cik": "0000844053", "assigned-sic": "4813", "irs-number": "330264030", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25680", "film-number": "1602415"}, "business-address": {"street1": "255 CONSUMERS ROAD SUITE 500", "street2": "TORONTO", "city": "ONTARIO CANADA", "state": "A6", "zip": "00000", "phone": "4165023200"}, "mail-address": {"street1": "255 CONSUMERS ROAD SUITE 500", "street2": "TORONTO", "city": "ONTARIO CANADA", "state": "A6"}, "former-company": [{"former-conformed-name": "CHANNEL I INC", "date-changed": "19950324"}, {"former-conformed-name": "CHANNEL I LTD", "date-changed": "19931119"}, {"former-conformed-name": "ATHENA VENTURES INC", "date-changed": "19920703"}]}
UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

Pursuant to Sections 13 or 15(d) of the Securities and Exchange Act of 1934

 -------------------------------------------------------------------------------
         Date of Report (Date of earliest event reported): April 6, 2001
 -------------------------------------------------------------------------------

                          WAVERIDER COMMUNICATIONS INC.
--------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)

                                     NEVADA

--------------------------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

                               0-25680 33-0264030
--------------------------------------------------------------------------------
        (Commission File Number) (I.R.S. Employer Identification Number)

         255 Consumers Road, Suite 500, Toronto, Ontario, Canada M2J 1R4
--------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                                 (416) 502-3200

--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)

--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)
Item 9.    Regulation FD Disclosure

This  document  contains  forward-looking  statements  that  involve  risks  and
uncertainties,  including  the risks  associated  with the  effect  of  changing
economic  conditions,  trends in the development of the Internet as a commercial
medium, market acceptance risks,  technological  development risks,  seasonality
and other risk factors detailed in the Company's filings with the Securities and
Exchange Commission

Can you provide more details on your recently announced LMS2100 and LMS3100?

WaveRider  recently  announced  extensions to its Last Mile Solution(R) family -
the LMS2100 and the LMS3100.  Both products are an  economical  entry point into
WaveRider's  Last Mile Solution (LMS) family.  They allow an ISP to start with a
low cost  solution  that  can  later  be  upgraded  to the  larger  LMS  network
solutions.

Features of the LMS2100 include:

o         Capacity for up to 90 commercial LANs per system
o         Provides transmission rates of up to 11 MBPS o Range -
          up to 10 miles (16 km)
o         Uses the  License  exempt 2.4 GHz  frequency  band
o         Connects to a standard IP router
o         Fully upgradeable to a network-managed WaveRider LMS2000 system

Features of the LMS3100 include:

o        Capacity for up to 300 subscribers per system
o        Provides both line of sight and non-line of sight capability
o        1 Mbps maximum data rate
o        Range - up to 1 mile (1.5 km) non-line of sight
o        Range - up to 4 miles (7 km) line-of-sight
o        Uses the license exempt 902 - 928 MHz frequency band
o        High performance user installable indoor subscriber antenna
o        Fully upgradeable to a network-managed WaveRider LMS3000 system

We expect that the ability to upgrade to the full  WaveRider LMS systems will be
particularly  attractive  to  service  providers  in  developing  markets.  This
important feature allows for a much lower initial investment while providing the
ability to fully  enhance the system when the business  grows to the point where
the full  management and capacity  capabilities of a full function LMS system is
required.

The upgrade involves adding a WaveRider Network Access Point, which includes the
ability  to  increase  total  system  capacity  and  adds the  functionality  of
WaveRider's  Network  Management  System,  providing a central  access point for
Internet  Access,  full system  based  management  of IP  addressing  and offers
optional  Advanced  Bandwidth  Manager.  There is only a software change made to
existing products, through remote access, to integrate all features.

We are currently conducting several Network Feasibility Assessments which is the
first step in the sales process.
How is WaveRider's LMS3000 installation going at Platinum Communications?

After  several  months of testing the LMS3000  system at  Platinum's  High River
installation,  Platinum is now actively  marketing  wireless  Internet access to
both business and residential customers.  With about 100 subscribers at present,
the  network is  working  smoothly  and  efficiently  with  speeds in some cases
exceeding  1 Mbps.  Platinum  has  expressed  that its  customers  are more than
pleased with the performance of the wireless Internet access.

From  WaveRider's  perspective,   the  Platinum  experience  has  validated  our
non-line-of-sight  technology,  and,  of equal  importance,  has proven the WISP
business  case.  Platinum  plans to  accelerate  the build-out of its system and
plans to expand into several new communities in the coming months.

Platinum's  High  River  wireless  Internet  network  has  been  an  ideal  beta
installation  for WaveRider  given the proximity to our R & D center.  WaveRider
has learned much from the pilot  experience and this  knowledge will  facilitate
smoother  installations  in the future.  Platinum  has proven to be a valued and
supportive  customer  and has  been  most  cooperative  in  demonstrating  their
wireless  installation to prospective  customers and financial  analysts.  Their
support and cooperation is much appreciated.

In your most recent conference call you stated that WaveRider expects revenue to
exceed  $20  million  in  2001  and  projects   continued   revenue   growth  to
approximately  $80 million in 2002.  In addition,  you also stated that with the
progress on margins and ongoing  expense  control,  the company expects to break
even for the  month of  December  and to be  profitable  in 2002.  Are you still
comfortable with those projections at this time?

We have no  reason to change  our  expectation  at this  time.  WaveRider's  NCL
product  line and the LMS2000  have now been proven in the market  place with an
expanding list of satisfied customers. With the commercial launch of the LMS3000
and the  introduction  of the LMS2100 and the  LMS3100,  market  interest in the
company's  complete  product line is  accelerating.  We believe that our revenue
expectations remain realistic.

At the same time, recognizing the current market conditions, WaveRider is taking
actions to curtail all  discretionary  spending to control costs growth  without
impeding  the  projected  revenue  growth.  This is,  also,  in keeping with the
guidance provided.

How is the question of revenue recognition regulations impacting WaveRider.

When reporting  revenue,  public  companies are required to follow  specific SEC
rules and regulations. Failure to comply with these rules can result in negative
repercussions  as shown by some recent high profile  instances.  WaveRider takes
these  rules  extremely  seriously  and,  with  the  support  of  our  auditors,
PricewaterhouseCoopers, makes every effort to ensure compliance.

Standard  Accounting Bulletin (SAB) 101 set out very specific guidelines for the
recognition of revenue.  The rules not only require  shipment of product but the
conclusive evidence the ownership has passed to the customer,  that the customer
has the  ability to pay for the goods and that all  contract  requirements  have
been  fulfilled.  Issues such as warranty  and  returns  experience,  acceptance
clauses,  customer credit history, and anticipated product updates are all taken
into account.  For a relatively new company with new technology and new products
these issues become even more important. In practise, in this early stage of our
development,  each sales  contract must be  interpreted on its own which further
complicates revenue recognition and the audit process.
Was the recent Las Vegas IWCE show successful for WaveRider?

The International  Wireless  Communications  Expo 2001 (IWCE) in Las Vegas was a
successful  show for WaveRider.  The event  featured more than 1,000  exhibitors
from the wireless and radio communications  industry, and attracted thousands of
representatives from companies all over North America and International  regions
looking for the latest in wireless communications.

WaveRider attracted more than 250 visitors to our booth with a specific interest
in delivering wireless Internet access in their regions.

IWCE2001  was the  venue  for the  official  commercial  launch  of  WaveRider's
LMS3000.  The result of 3 years of research and development,  the LMS3000 is now
the world's first fixed wireless non-line-of-sight wireless network.

Visitors were provided a demonstration of our new technology,  wireless end-user
modem  and  antenna  and were  able to  experience  the  speed  and  performance
first-hand via the LMS3000 link in the booth.

The new LMS3100 and LMS2100 entry-level  wireless networks were also featured at
our booth at IWCE.  We believe the LMS3100 was  extremely  well received and was
viewed as an ideal solution for wireless networking  companies to break into the
wireless  Internet  access  market  and serve  residential  and  small  business
customers.  We had to do several re-prints of the LMS3100 product sheets to keep
up with the demand for information on this product.

Since  one of the most  compelling  features  of  WaveRider's  non-line-of-sight
networks  is its  ability  to  enable  ISPs and  carriers  to serve  residential
customers, we attempted to feature this capability in our booth. A 10 by 10 foot
`house/home  office' was  constructed  in the booth,  complete with angled roof,
houseplants,  windows,  front  door - and even a  mailbox.  The  LMS3000  indoor
directional antenna was mounted in the window of the house and the LMS3000 modem
placed  next  to the PC on the  office  desk in the  house.  This  `home  office
computer'  was connected to the Internet via a wireless link to the LMS3000 CAP,
which was set up outside of the house.

Visitors to the booth watched television news stations via the Internet,  surfed
the web, viewed the webcam and downloaded movie trailers via the LMS3000.

If any  stakeholders  have  questions  on the  above  or any  other  issues,  we
encourage you to contact us.

                     WaveRider is a registered trademark of
                        WaveRider Communications Inc (C)
                            Copyright 2001 WaveRider
                               Communications Inc.
Signatures:

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
Registrant  has duly caused this current  report on Form 8-K to be signed on its
behalf by the undersigned thereunto duly authorized.

Dated:  April 6, 2001

                                             WaveRider Communications Inc.

                                             Per: /s/ D. Bruce Sinclair
                                             ---------------------
                                             D. Bruce Sinclair, President & CEO