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FORM 4
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
WISCHER, ADRIAN DAVID
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(Last) (First) (Middle)
90 Hanna Street
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(Street)
Noble Park, Victoria, Australia 3174
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
NETLIVE COMMUNICATIONS, INC. (NETL)
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
March 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
President and CEO
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
TABLE I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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5. Amount of 6. Owner-
Securities ship
2. Trans- 3. Trans- 4. Securities Acquired (A) Beneficially Form:
action action or Disposed of (D) Owned at Direct 7. Nature of
Date Code (Instr. 3, 4 and 5) End of (D) or Indirect
1. Title of Security (Month/ (Instr. 8) -------------------------- Month Indirect Beneficial
(Instr. 3) Day/ ---------- Amount (A) or Price (Instr. (I) Ownership
Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock 3/18/99 P 1,020,000 A -- 1,020,000 I (1)
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(1) By Wischer Corporation Pty Ltd. ("WCPL"). WCPL contracted to purchase these shares from Playbyrne Investments Pty Ltd for
an aggregate purchase price of Australian $1.00. The purchase will not occur unless the Issuer raises new equity capital
of not less than Austrialian $5,000,000 on or before December 31, 1999.
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
</TABLE>
Page 1 of 2
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FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g. puts, calls, warrants, options, convertible securities)
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
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Title and Ownership
Number of Date Exer- Amount of Form of
Derivative cisable and Underlying Number of Deriv-
Securities Expiration Securities Price Derivative ative
Conver- Trans- Acquired (A) Date (Month/ (Instr. 3 of Securities Security:
sion or Trans- action or Disposed Day/Year) and 4) Deriv- Benefi- Direct
Exercise action Code of (D) -------------- -------------- ative cially (D) or Nature of
Title of Price of Date (Instr. (Instr. 3, Date Amount Secur- Owned at Indirect Indirect
Derivative Deriv- (Month/ 8) 4 and 5) Exer- Expir- or Num- ity End of (I) Beneficial
Security ative Day/ -------- ------------ cis- ation ber of (Instr. Month (Instr. Ownership
(Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) (Instr. 4) 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Series A (2) 3/18/99 P 1,700,000 (2) -- Common 1,700,000 -- 1,700,000 I (3)
Convertible Stock
Preferred
Stock
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Employee $0.368 3/18/99 J 1,700,000 3/18/02 3/18/09 Common 1,700,000 1,700,000 I (4)
Stock Stock
Option
(Right to
Buy)
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</TABLE>
Explanation of Responses: (2) The shares of Series A Convertible Preferred Stock
are convertible into shares of Common Stock at a conversion rate initially equal
to one share of Common Stock for each one share of Preferred Stock. The shares
are convertible only if the Issuer's audited consolidated net after tax income
("Net Income") exceeds the equivalent in U.S. Dollars of Australian $3,571,429
("Target Income") for any of the fiscal years ending June 30, 1999, 2000 and
2001. If Net Income exceeds Target Income in any of such years, for each U.S.
$200,000 increment that Net Income exceeds Target Income, 200,000 shares of
Preferred Stock will be convertible into shares of Common Stock.
(3) By Wischer Corporation Pty Ltd. WCPL contracted to purchase these shares
from Playbyrne Investments Pty Ltd for an aggregate purchase price of
Australian $1.00.
(4) By Wischer Corporation Pty Ltd. The options will vest sooner upon the
occurrence of the following events: on the effectiveness of a 3.4 to 1
reverse stock split by the Issuer, as to 850,000 shares; and at the
discretion of the Board of Directors of the Issuer, following a review of
the performance of the Issuer and its subsidiaries, as to the balance of
850,000 shares.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
/s/ Adrian D. Wischer 4/12/99
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** Signature of Reporting Person Date
ADRIAN D. WISCHER
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
