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OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 4
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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 TO 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*
Atlantis Equities, Inc.
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(Last) (First) (Middle)
750 Lexington Avenue
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(Street)
New York NY 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
CDbeat.com, Inc. (CDBT)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
11/99
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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)
[X] Form filed by One Reporting Person
[_] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
2. 3. Disposed of (D) Securities Form: 7.
Transaction Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
Date Code ------------------------------- Owned at End (D) or Indirect
1. (Month/ (Instru. 8) (A) of Month Indirect Beneficial
Title of Security Day/ ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, $.001 par value per 11/16/99 (P)(1) 781,909(1) (A)(1) $.0647(1) 781,909(1) D
share
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</TABLE>
Remainder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
(Print or type Responses)
(Over)
SEC 1473 (7-96)
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FORM 4 (continued)
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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> <C> <C>
Warrant $100,000 11/16/99 (X) (1) (i)Common (i) D
(1) (1) Stock, 781,909
$.001 par Shares
value per and
share, (ii)
and (ii) 762,064
Options Options
to pur- (1)
chase
Common
Stock,
$.001 par
value per
share
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Options (right to $2.50 11/16/99 (P) 762,064 11/16/99 12/31/00 (i)Common 762,064 $.0647 762,064(1) D
buy) (1) (1) (1) Stock, (1) (1)
$.001 par
value per
share
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Explanation of Responses:
(1) Pursuant to the Warrant Amendment Agreement dated November 16, 1999, and in
connection with the closing of the transactions contemplated by that certain
contribution agreement dated October 29, 1999, as amended November 16, 1999 (the
"Closing"), Atlantis Equities, Inc. ("Atlantis") and CDbeat.com, Inc. amended
the stock purchase warrant owned by Atlantis and dated September 23, 1999 (the
"Atlantis Warrant"), dividing the Atlantis Warrant into two (2) separate
warrants, one issued in the name of Atlantis and one issued in the name of an
affiliate, Dylan, LLC ("Dylan"). Simultaneously with the Closing, Atlantis
exercised its warrant for $100,000, receiving 762,064 options and 781,909
shares, and Dylan exercised its warrant for $900,000, receiving 7,037,183
shares.
ATLANTIS EQUITIES, INC.
/s/ Nancy Ellin 12/10/99
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**Signature of Reporting Person Date
Nancy Ellin on behalf of Atlantis
Equities, Inc.
**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
SEC 1474(7-96)
