UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
HETTLEMAN, STUART
c/o TARGET LOGISTICS, INC.
112 EAST 25TH STREET
BALTIMORE, MD 21218
USA
2. Issuer Name and Ticker or Trading Symbol
TARGET LOGISTICS, INC.
TARG, TARGW
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
OCTOBER 1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
PRESIDENT
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
COMMON STOCK |10/29/|C | |418,298 |A |$.4125 |885,263 |I |BY CORPORATION (1)(4) |
|99 | | | | | | | | |
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COMMON STOCK | | | | | | |34,700.4 |I |(2)(4) |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLASS D 10% CUMULATIVE|$.4125 |10/29|C | |17,255 (3) |D |IMMED| |COMMON STOCK|418,298| |0 | | |
CONVERTIBLE PREFERRED| |/99 | | | | |. | | | | | | | |
STOCK | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) REPORTING PERSON IS AN INDIRECT 16.2% OWNER OF THE ENTITY WHICH OWNS THESE
SHARES.
(2) REPORTING PERSON IS AN INDIRECT PARTIAL OWNER OF THE ENTITY WHICH OWNS
THESE SHARES.
(3) INCLUDES 1,055 SHARES ISSUED AS DIVIDENDS ON OUTSTANDING SHARES OF CLASS D
10% CUMULATIVE
PREFERRED
STOCK.
(4) THE REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP OF THESE SECURITIES
AND THIS REPORT
SHALL NOT BE DEEMED AN ADMISSION THAT THE REPORTING PERSON IS
THE
BENEFICIAL OWNER OF SUCH SECURITIES FOR PURPOSES OF SECTION 16 OR FOR ANY OTHER
PURPOSE
SIGNATURE OF REPORTING PERSON
/S/ STUART HETTLEMAN
DATE
NOVEMBER 10, 1999
