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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
Dylan, LLC (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)
curity Number of ---- ----
750 Lexington Avenue Reporting Person Officer (give Other (specify ---------------------
- ------------------------------------------------- (Voluntary) title below) below) 7. Individual or
(Street) ---- ---- Joint/Group Filing
(Check Applicable
Line)
--------------------------- Form filed by One
X Reporting Person
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Form filed by
More than One
Reporting Person
New York New York 10022 ---
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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 7,037,183(1) D(1)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
Explanation: SEC 1473 (7-97)
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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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Explanation of Responses:
(1) The 7,037,183 shares of Common Stock of the issuer were acquired pursuant to the exercise of a stock purchase warrant dated
September 23, 1999, as amended 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, pursuant
to which Cakewalk LLC, a Delaware limited liability company, exchanged all of its assets and liabilities to 32 Records, LLC a
wholly-owned subsidiary of the issuer and a Delaware limited liability company, in exchange for 8,307,785 shares of the issuer's
Common Stock, and the issuance of a stock purchase warrant exercisable for 1,466,080 shares of the issuer to Eminent Financial
International, LLC, a Delaware limited liability company and the holder of a $5,500,000 10.09% royalty backed note issued by
Cakewalk, LLC.
DYLAN, LLC
By /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, Managing Member,
on behalf of Dylan, LLC
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
SEE Instruction 6 for procedure.
Page 2 SEC 1473 (7-97)
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