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FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
American Telecom, Inc.
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(Last) (First) (Middle)
P.O. Box 47, Roadtown
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(Street)
Tortola, BVI
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (month/day/year)
October 29, 1999
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3. IRS or Social Security Number of Reporting Person, if entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Shopnet.com, Inc.
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5. Relationship of Reporting Person to Issuer
(check all applicable)
[ ] Director [x] 10% owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (month/day/year)
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<PAGE>
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Table I - Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
<S> <C> <C> <C>
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
(Instr. 4) Securities Form: Direct Beneficial Ownership
Beneficially Owned (D) or Indirect (Instr. 5)
(Instr. 4) (I) (Instr. 5)
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Common Stock 581,364 D n/a
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</TABLE>
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly
(Over)
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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<S> <C> <C> <C> <C>
1. Title of Derivative 2. Date Exercisable 3.Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of Indirect
Security(Instr. 4) and Expiration Date Underlying Derivative Security sion or ship Beneficial
(month/day/year) (Instr. 4) Exercise Form of Ownership(Instr.5)
Date Expira- Amount or Price of Deriv-
Exer- tion Number of Deri- ative
cisable Date Title Shares vative Security:
Security Direct
(D) or
Indirect
(I)
(Instr. 5)
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</TABLE>
Explanation of Responses:
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/Ilan Arbel 11/1/99
Ilan Arbel, President Date
**Signature of Reporting Person
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
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SEC 1473 (8-92)
