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OMB APPROVAL
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OMB Number 3235-0287
Expires: December 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
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
[ ] CHECK THIS BOX IF NO LONGER
SUBJECT OF SECTION 16. FORM 4
OR FORM 5 OBLIGATIONS MAY
CONTINUE. SEE INSTRUCTION 1(B).
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1. Name and Address of Reporting Person
VantagePoint Communications Partners, L.P.
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(Last) (First) (Middle)
1001 Bayhill Drive, Suite 100
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(Street)
San Bruno California 94066
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
ASD Systems, Inc. (ASDS)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
November/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)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ ] Form filed by One Reporting Person
[ X ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7. Nature
Transaction (Instr. 3, 4 and 5) Beneficially Direct of Indirect
2. Code ------------------------------- Owned at End (D) or Beneficial
1. Transaction (Instr. 8) (A) of Month Indirect Ownership
Title of Security Date ------------ Amount or Price (Instr. 3 (I) (Instr.
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common stock, par value $.0001 11/11/1999 J(1) 750,000 A (1)
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Common stock, par value $.0001 11/29/1999 C 865,800 A $2.94 1,615,800 D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
</TABLE>
<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9. 10.
Number Owner-
of ship
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> <C> <C>
Common Stock $2.94 11/11/ J(3) 975,000 11/11/ 11/11/ Common 975,000 $0.00(3)
Purchase 1999 1999 2002 Stock
Warrants
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Common Stock $2.94 11/29/ C 975,000 11/11 11/11/ Common 975,000 $0.00(3) -0-
Purchase 1999 (4) 1999 2002 Stock (4)
Warrants
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Explanation of Responses:
(1) Represents shares of the Issuer's common stock acquired by the Reporting Person as a result of the Issuer's
Initial Public Offering ("IPO"). The Reporting Person previously held 370,370 shares of the Issuer's Series
A Preferred Stock which were converted into 750,000 shares of the Issuer's common stock upon the pricing
of the IPO. The number of shares of common stock into which the shares of Series A Preferred Stock would
convert was contingent upon the pricing of the Issuer's common stock in connection with the IPO.
(2) Represents the date on which the Exercise Price of the Warrant was set. The Exercise Price was, pursuant
to the terms of the Warrant, contingent upon the pricing of the Issuer's common stock in connection with
the IPO. The Warrant was originally issued to the Reporting Person on August 23, 1999.
(3) The Warrant was issued by the Issuer to the Reporting Person in connection with the purchase by the
Reporting Person of shares of the Issuer's Series A Preferred Stock and Series B Preferred Stock.
(4) On November 29, 1999, the Reporting Person exercised its Warrant in full in accordance with the cashless
exercise feature of the Warrant and, as a result, acquired a net of 865,800 shares of the Issuer's common
stock.
</TABLE>
See Attachment A
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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 procedures.
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ATTACHMENT A
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1. Reporting Persons
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VantagePoint Communications Partners, L.P. (Designated Filer)
1001 Bayhill Drive, Suite 100
San Bruno, California 94066
VantagePoint Communications Associates, L.L.C.
1001 Bayhill Drive, Suite 100
San Bruno, California 94066
2. Signatures of Reporting Persons
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VantagePoint Communications Partners, L.P.
By: VantagePoint Communications Associates, L.L.C.,
its general partner
By: /s/ ALAN E. SALZMAN Date: 12/09/99
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Alan E. Salzman, Managing Member
VantagePoint Communications Associates, L.L.C.
By: /s/ ALAN E. SALZMAN Date: 12/09/99
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Alan E. Salzman, Managing Member
