INTELISPAN INC /WA/
3, 2000-09-13
COMPUTER PROGRAMMING SERVICES
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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC 20549

                                     FORM 3

            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

--------------------------------------------------------------------------------
1. Name and Address of Reporting Person*

Commonwealth Associates L.P.
--------------------------------------------------------------------------------
   (Last)               (First)                 (Middle)

830 Third Avenue
--------------------------------------------------------------------------------
                                    (Street)

New York, New York                             10022
--------------------------------------------------------------------------------
   (City)               (State)                 (Zip)

December, 1999
--------------------------------------------------------------------------------
2. Date of Event Requiring Statement (Month/Day/Year)

13-3467952
--------------------------------------------------------------------------------
3. IRS Identification Number of Reporting Person, if an entity (Voluntary)

Intelispan, Inc. (NASDAQOTC: IPVNE)
--------------------------------------------------------------------------------
4. Issuer Name and Ticker or Trading Symbol


--------------------------------------------------------------------------------
5. Relationship of Reporting Person to Issuer
   (Check all applicable)

|X|   Director                             |X|   10% Owner
|_|   Officer (give title below)           |_|   Other (specify below)

                         Michael S. Falk is a director
--------------------------------------------------------------------------------
6. If Amendment, Date of Original (Month/Day/Year)

--------------------------------------------------------------------------------
7. Individual or Joint/Group Filing (Check applicable line)

   |_| Form filed by One Reporting Person

   |X| Form filed by More than One Reporting Person

================================================================================

--------------------------------------------------------------------------------
             Table I -- Non-Derivative Securities Beneficially Owned
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                 3. Ownership Form:
                                      2. Amount of Securities       Direct (D) or
1. Title of Security                     Beneficially Owned         Indirect (I)       4. Nature of Indirect Beneficial Ownership
   (Instr. 4)                            (Instr. 4)                 (Instr. 5)            (Instr. 4)
------------------------------------------------------------------------------------------------------------------------------------
   <S>                                   <C>                         <C>                  <C>
Common Stock(1)                              60,000                  D
-----------------------------------------------------------------------------------------------------------------------------------
Common Stock                              9,383,333                  I                    (2)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock                                566,666                  I                    (3)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock                              1,426,664                  I                    (4)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).

Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.


                                  Page 1 of 2
<PAGE>

FORM 3 (continued)

              Table II -- Derivative Securities Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                        5. Owner-
                                                    3. Title and Amount of Securities                      ship
                                                       Underlying Derivative Security                      Form of
                           2. Date Exercisable         (Instr. 4)                                          Derivative
                              and Expiration Date   ---------------------------------    4. Conver-        Security:
                              (Month/Day/Year)                             Amount           sion or        Direct      6. Nature of
                           ----------------------                          or               Exercise       (D) or         Indirect
                             Date       Expira-                            Number           Price of       Indirect       Beneficial
1. Title of Derivative       Exer-      tion                               of               Derivative     (I)            Ownership
   Security (Instr. 4)       cisable    Date        Title                  Shares           Security       (Instr. 5)     (Instr. 5)
------------------------------------------------------------------------------------------------------------------------------------
<S>                          <C>        <C>         <C>                    <C>           <C>            <C>            <C>
Warrants to purchase
Common Stock (1)            immed        12/23/06   Common Stock           9,300,667     $0.75          D
------------------------------------------------------------------------------------------------------------------------------------
Warrants to purchase
Common Stock (1)            immed        1/14/07    Common Stock           1,007,261     $0.75          D
------------------------------------------------------------------------------------------------------------------------------------
Warrants to purchase
Common Stock (1)            immed         2/3/07    Common Stock             650,000     $0.75          D
------------------------------------------------------------------------------------------------------------------------------------
Warrants to purchase
Common Stock                immed       12/21/04    Common Stock              66,667     $0.75          I              (2)
------------------------------------------------------------------------------------------------------------------------------------
Warrants to purchase
Common Stock                immed       12/21/04    Common Stock             283,334     $0.75          I              (3)
------------------------------------------------------------------------------------------------------------------------------------
Warrants to purchase
Common Stock                immed        1/14/07    Common Stock           3,751,258     $0.75          I              (3)
------------------------------------------------------------------------------------------------------------------------------------
Warrants to purchase
Common Stock                immed       12/21/04    Common Stock             713,336     $0.75          I              (4)
------------------------------------------------------------------------------------------------------------------------------------
Warrants to purchase
Common Stock                immed        1/14/07    Common Stock           1,368,954     $0.75          I              (5)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Explanation of Responses:

See attached footnotes.

Commonwealth Associates L.P.
By: Commonwealth Associates Management Corp., its general partner


/s/ Joseph Wynne                                          August 1, 2000
---------------------------------------------            -----------------------
    ** Signature of Reporting Person                            Date
    J. Wynne
    Chief Financial Officer

**   Intentional misstatements or omissions of facts constitute Federal Criminal
     Violations. 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.


                                  Page 2 of 2
<PAGE>

                                                                          Page 3


FOOTNOTES

(1) These shares and warrants are owned directly by Commonwealth Associates L.P
("Commonwealth"). Michael S. Falk ("Falk"), Robert Priddy ("Priddy"), Keith
Rosenbloom ("Rosenbloom") and Basil Ascuitto ("Ascuitto") are directors and
shareholders of Commonwealth Associates Management Corp., the general partner of
Commonwealth ("CAMC"). Falk is the Chairman, CEO and principal stockholder of
CAMC. Each of Falk, Priddy, Rosenbloom and Ascuitto disclaim beneficial
ownership of the shares and warrants held by Commonwealth other than that
portion which corresponds with each of their equity ownership in CAMC.

(2) These shares and warrants are owned directly by ComVest Capital Partners LLC
("ComVest"). Falk, Priddy and Rosenbloom are the Managers and principal members
of ComVest. Each of Falk, Priddy and Rosenbloom disclaim beneficial ownership of
the shares and warrants held by ComVest other than that portion which
corresponds with each of their membership interest in ComVest.

(3) These shares and warrants are owned directly by Falk.

(4) These shares and warrants are owned directly by one or more of the following
individuals: Priddy, Rosenbloom or Ascuitto.

(5) These warrants are owned directly by Rosenbloom or Ascuitto.

<PAGE>

                             JOINT FILER INFORMATION

Name:                   Commonwealth Associates L.P.
                        830 Third Avenue
                        New York, New York 10022

Designated Filer:       Commonwealth Associates L.P.

Issuer & Ticker Symbol: Intelispan, Inc. (IPVNE)

Statement Date:         December 1999

Signature:              By: Commonwealth Associates Management Corp.,
                        its General Partner


                        By: /s/ Joseph Wynne
                           --------------------------------------
                            Joseph Wynne, Chief Financial Officer

Name:                   Commonwealth Associates Management Corp.
                        830 Third Avenue
                        New York, New York 10022

Designated Filer:       Commonwealth Associates L.P.

Issuer & Ticker Symbol: Intelispan, Inc. (IPVNE)

Statement Date:         December 1999


Signature:              By: /s/ Joseph Wynne
                           --------------------------------------
                            Joseph Wynne, Chief Financial Officer

Name:                   ComVest Capital Partners, LLC
                        830 Third Avenue
                        New York, New York 10022

Designated Filer:       Commonwealth Associates L.P.

Issuer & Ticker Symbol: Intelispan, Inc. (IPVNE)

Statement Date:         December 1999


Signature:              By: /s/ Michael S. Falk
                           --------------------------------------
                            Michael S. Falk, Manager


                                  Page 4 of 5
<PAGE>

Name:                   Michael S. Falk
                        830 Third Avenue
                        New York, New York 10022

Designated Filer:       Commonwealth Associates L.P.

Issuer & Ticker Symbol: Intelispan, Inc. (IPVNE)

Statement Date:         December 1999


Signature:              /s/ Michael S. Falk
                        -----------------------------------------
                            Michael S. Falk

Name:                   Keith Rosenbloom
                        830 Third Avenue
                        New York, New York 10022

Designated Filer:       Commonwealth Associates L.P.

Issuer & Ticker Symbol: Intelispan, Inc. (IPVNE)

Statement Date:         December 1999


Signature:              /s/ Keith Rosenbloom
                        -----------------------------------------
                            Keith Rosenbloom

Name:                   Basil Asciutto
                        830 Third Avenue
                        New York, New York 10022

Designated Filer:       Commonwealth Associates L.P.

Issuer & Ticker Symbol: Intelispan, Inc. (IPVNE)

Statement Date:         December 1999


Signature:              /s/ Basil Asciutto
                        -----------------------------------------
                            Basil Asciutto

Name:                   Robert Priddy
                        RMC Capital
                        1640 Powers Ferry, Suite 125
                        Marietta, Georgia 30067

Designated Filer:       Commonwealth Associates L.P.

Issuer & Ticker Symbol: Intelispan, Inc. (IPVNE)

Statement Date:         December 1999


Signature:              /s/ Robert Priddy
                        -----------------------------------------
                            Robert Priddy




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