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- -------- U. S. SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 3 WASHINGTON, D.C. 20549 OMB APPROVAL
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES OMB Number: 3235-0104
Expires: December 31, 2001
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Estimated average burden
Section 17(a) of the Public Utility Holding Company Act of 1935 or hours per response .... 0.5
Section 30(f) of the Investment Company Act of 1940 -----------------------------
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1. Name and Address of Reporting Person 2. Date of Event Re- 4. Issuer Name and Ticker or Trading Symbol
quiring Statement
Ellin Nancy J (Month/Day/Year) CDbeat.com, Inc. ("CDBT")
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(Last) (First) (Middle) 11/16/99(1) 5. Relationship of Reporting Person 6. If Amendment, Date
----------------- to Issuer (Check all applicable) of Original
3. IRS or Social Se- Director X 10% Owner (Month/Day/Year)
750 Lexington Avenue curity Number of ---- ----
Reporting Person Officer (give Other (specify ---------------------
- --------------------------------------------- (Voluntary) ----title below) ----below) 7. Individual or
(Street) Joint/Group Filing
(Check Applicable
Line)
--------------------------- X Form filed by One
--- Reporting Person
Form filed by
--- More than One
New York New York 10022 Reporting Person
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(City) (State) (Zip) TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial
(Instr. 4) Beneficially Owned Form: Direct Ownership (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
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Common Stock, par value $.001 per share 781,909 (1) I(1) By Atlantis Equities, Inc.
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Common Stock, par value $.001 per share 7,037,183 (2) I(2) By Dylan, LLC
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
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FORM 3 (CONTINUED) TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE
SECURITIES)
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1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) cisable and Underlying Derivative Security sion or ship Beneficial
Expiration (Instr. 4) Exercise Form of Ownership
Date Price of Deriv- (Instr. 5)
(Month/Day/ Deri- ative
Year) vative Security:
-------------------------------------------------- Security Direct
Amount (D) or
Date Expir- or Indirect
Exer- ation Title Number (I)
cisable Date of
Shares (Instr. 5)
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Option 11/16/99 12/31/00 Common Stock,
par value $.001 By Atlantis
per share 762,064(1) $2.50 I (1) Equities, Inc.
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Explanation of Responses:
(1) The 781,909 shares of Common Stock and the options to purchase 762,064 shares of Common Stock of the Issuer were acquired by
Altantis Equities, Inc., a New York corporation, of which the reporting person is the sole stockholder, director and officer,
pursuant to the exercise of a stock purchase warrant dated September 23, 1999, as amended November 16, 1999, at an exercise
price of $100,000, in connection with the closing of the transactions contemplated by that certain contribution agreement
dated October 29, 1999, as amended November 16, 1999.
(2) The 7,037,183 shares of Common Stock of the issuer were acquired by Dylan LLC, a Delaware limited liability company of which
the reporting person is the sole managing member, pursuant to the exercise of a stock purchase warrant dated November 16,
1999, at an exercise price of $900,000, and in connection with the closing of the transactions contemplated by that certain
contribution agreement dated October 29, 1999, as amended November 16, 1999.
/s/ Nancy Ellin 11/24/99
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**Intentional misstatements or omissions of facts constitute Federal **Signature of Reporting Person Date
Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Nancy Ellin
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
SEE Instruction 6 for procedure.
SEC 1473 (7-97)
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