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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
PARADISE MUSIC & ENTERTAINMENT, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
699071 10 6
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(CUSIP Number)
September 28, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/ / Rule 13d-1(b)
/X/ Rule 13d-1(c)
/ / Rule 13d-1(d)
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CUSIP No. 699071 10 6 13G Page 2 of 5 Pages
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(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Jay Moloney
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(2) Check the Appropriate Box if a Member of a Group (a) / /
(See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
United States of America
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Number of (5) Sole Voting Power: 225,000 Shares
Shares --------------------------------------------------
Beneficially (6) Shared Voting Power: 0
Owned by --------------------------------------------------
Each (7) Sole Dispositive Power: 225,000 Shares
Reporting --------------------------------------------------
Person With: (8) Shared Dispositive Power: 0
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
225,000 Shares
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares / /
(See Instructions)
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(11) Percent of Class Represented by Amount in Row (9)
3.4%
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(12) Type of Reporting Person (See Instructions)
IN
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This Amendment No. 1 amends the 13G filed by Jay Moloney with respect
to shares of the Common Stock of Paradise Music & Entertainment, Inc.
Item 4 is amended as follows:
ITEM 4. OWNERSHIP
(a) Amount beneficially owned: 225,000 Shares. The 225,000 Shares
beneficially owned represent shares which the reporting person had the right
to acquire as of September 28, 1999 and within 60 days thereafter upon
exercise of an employee stock option.
(b) Percent of Class: 3.4%.
(c) Number of Shares as to which the reporting person has:
(i) Sole power to vote or to direct the vote: 225,000.
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of:
225,000.
(iv) Shared power to dispose or to direct the disposition of: 0.
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following [x]
ITEM 10. CERTIFICATIONS.
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
October 1, 1999
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(Date)
/s/ Jay Moloney
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(Signature)
Jay Moloney
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(Name and Title)
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