UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB Number: 3235-0287
1. Name and Address of Reporting Person*
2. Issuer Name and Ticker or Trading Symbol
6. Relationship of Reporting Person(s)
(Last) (First) (Middle)
870-B Central Ave
3. I.R.S. Identification Number
4. Statement for
Hammonton, NJ 08037
5. If Amendment,
7. Individual or Joint/Group Filing (Check Applicable Line)
(City) (State) (Zip)
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
4. Securities Acquired (A) or Disposed of (D)
5. Amount of
7. Nature of Indirect
$0.33 per share*
Held by Peter Amico, an affiliate
Held by third party
Voting Preferred Stock
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
FORM 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Derivative Security
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
6. Date Exercisable
7. Title and Amount of Underlying Securities
8. Price of Derivative Security
9. Number of
11. Nature of Indirect Beneficial Ownership
Amount or Number of
Preferred Stock Dividend
Explanation of Responses:
1/ Arcon Corp. is the holder of 275,000 shares of voting preferred stock of the Issuer. The preferred stock has a stated value per share of $5.00 and an annual dividend per share equal to 5% of the stated value. Dividends are cumulative and the holder has a right with respect to any fiscal quarter to waive any cash dividend for such quarter and receive the dividend in the form of common stock at a price per share equal to 30% of the lowest private offering or trading price of the common stock during such quarter. As of December 31, 2002, accrued dividends under the features of the preferred stock which have not been paid as of such date could result in the issuance of 247,945 shares of common stock to Arcon Corp.
By: /s/ Peter Amico-President
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
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