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
WREXHAM, AVIATION CORP.
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)
52-1703231
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)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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>
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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 | |2,323,877 |A |$.4125 |4,918,127 |I |BY CORPORATION (1) |
|99 | | | | | | | | |
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COMMON STOCK | | | | | | |192,780 |I |(2) |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CLASS D 10% CUMULATIVE|$.4125 |10/29|C | |95,860 (3) |D |IMMED| |COMMON STOCK|2,323,8| |0 | | |
CONVERTIBLE PREFERRED| |/99 | | | | |. | | |77 | | | | |
STOCK | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) SHARES HELD BY 90% OWNED SUBSIDIARY OF REPORTING
PERSON.
(2) SHARES HELD BY INDIRECT PARTIALLY-OWNED SUBSIDIARY OF REPORTING
PERSON.
(3) INCLUDES 5,860 SHARES ISSUED AS DIVIDENDS ON OUTSTANDING SHARES OF CLASS D
10% CUMULATIVE
PREFERRED
STOCK.
SIGNATURE OF REPORTING PERSON
/S/ WREXHAM AVIATION CORP. - BY: RICHARD A. SWIRNOW
DATE
NOVEMBER 10, 1999
