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OMB APPROVAL
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OMB Number 3235-0287
Expires: 12-31-2001
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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*
Visconti Gerald J., Jr.
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(Last) (First) (Middle)
222 Clematis Street, Suite 202
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(Street)
West Palm Beach, FL 33401
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Sforza Enterprises, Inc. (SFZAU)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
May 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
__________President_____________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by 1 Reporting Person
[_] Form filed by more than 1 Reporting Person
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<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock $0.875 5/10/99 A 20,000 11/01/99 5/10/09 Common 20,000 20,000 D
Options Stock
(right to buy)(1)
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Common Stock $4.4375 10/27/98 D 20,000 11/01/99 11/01/08 Common 20,000 -0- D
Options Stock
(right to buy)(2)
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Common Stock $0.875 5/10/99 A 30,000 (4) 5/10/09 Common 30,000 30,000 D
Options Stock
(right to buy)(3)
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Common Stock $2.50 10/27/98 D 30,000 (6) 11/01/08 Common 30,000 (1) -0- D
Options Stock
(right to buy)(5)
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</TABLE>
Explanation of Responses:
(1) The reported securities were granted to the Reporting Person in accordance
with the First Amendment to Employment Agreement executed on May 10, 1999, and
pursuant to the Company's Equity Incentive Plan (the "Plan").
(2) The reported securities were granted to the Reporting Person in accordance
with the Employment Agreement executed on October 27, 1998 (the "Employment
Agreement"), and pursuant to the Plan. On May 10, 1999, the Reporting Person
executed a First Amendment to Employment Agreement which cancelled the subject
incentive stock options ("ISOs") granted by the Employment Agreement.
(3) The reported securities were granted as non-qualified stock options
("NQSOs") to the Reporting Person in accordance with the First Amendment to
Employment Agreement executed on May 10, 1999, and pursuant to the Option to
Purchase Common Stock of Sforza Enterprises, Inc.
(4) The Reporting Person, according to the terms of the Employment Agreement
executed on October 27, 1998 and the First Amendment to Employment Agreement
executed on May 10, 1999, may exercise one-half (15,000) of the options
commencing November 1, 1999, and may exercise the remaining (15,000) options
commencing November 1, 2000.
(5) The reported securities were granted to the Reporting Person pursuant to the
First Amendment to Employment Agreement executed on October 27, 1998. On May 10,
1999, the Reporting Person executed a First Amendment to Employment Agreement
which cancelled the NQSOs granted by the Employment Agreement.
(6) The Reporting Person, according to the terms of the Employment Agreement
executed on October 27, 1998, may exercise one-half (15,000) of the options
commencing October 27, 1999, and may exercise the remaining (15,000) options
commencing October 27, 2000.
Gerald J. Visconti, Jr. 12/17/99
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**Signature of Reporting Person Date
** 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.
