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SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. __________)*
CYNET, INC.
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(Name of Issuer)
Class A Common Stock, no par value per share
--------------------------------------------
(Title of Class of Securities)
23257K 10 7
- -------------------------------------------------------------------------------
(CUSIP Number)
December 6, 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)
[ ] Rule 13d-1(c)
[x] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
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disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 23257K 10 7.................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Vincent W. Beale, Sr.
.....................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) /X/
(b) / /
.....................................................................
3. SEC Use Only
.....................................................................
4. Citizenship or Place or Organization
United States
.....................................................................
Number of 5. Sole Voting Power
Shares 17,500,820
Beneficially ..........................................................
Owned by 6. Shared Voting Power
Each -0-
Reporting ..........................................................
Person With 7. Sole Dispositive Power
1,810,000
..........................................................
8. Shared Dispositive Power
15,690,820
.....................................................................
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
17,500,820
.....................................................................
10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
Not Applicable
.....................................................................
11. Percent of Class Represented by Amount in Row (11)
47.1%
.....................................................................
12. Type of Reporting Person (See Instructions)
IN
.....................................................................
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ITEM 1.
(a) Name of Issuer CyNet, Inc.
(b) Address of Issuer's Principal Executive Offices
12777 Jones Road, Suite 400, Houston, Texas 77070
ITEM 2.
(a) Name of Person Filing Vincent W. Beale, Sr.
(b) Address of Principal Business Office or, if none, Residence
12777 Jones Road, Suite 400,
Houston, Texas 77070
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(c) Citizenship United States
(d) Title of Class of Securities Class A Common Stock, no par value
per share.
(e) CUSIP Number 23257K 10 7
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) ofthe Act (15 U.S.C.
78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the
Act (15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with
Section 240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of
an investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
Not Applicable
ITEM 4. OWNERSHIP.
Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 17,500,820
(b) Percent of class: 47.1%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 17,500,820
(ii) Shared power to vote or to direct the vote -0-
(iii) Sole power to dispose or to direct the disposition of
1,810,000
(iv) Shared power to dispose or to direct the disposition of
15,690,820
INSTRUCTION. For computations regarding securities which represent a right to
acquire an underlying security SEE Section 240.13d3(d)(1).
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
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ceased to be the beneficial owner of more than five percent of the class of
securities, check the following [ ]. Not Applicable
INSTRUCTION: Dissolution of a group requires a response to this item.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Vincent W. Beale, Sr. is the president and majority owner of Cynet
Holdings, LLC, which has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, such
securities.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable
ITEM 10. CERTIFICATION
Not Applicable
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
February 14, 2000
-----------------
Date
/s/ Vincent W. Beale, Sr.
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Vincent W. Beale, Sr., Individually
Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties for whom copies are to be sent.
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ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
