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F O R M 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB Approval
- -------------------- Washington, D.C. 20549
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OMB Number 3235-0104
Expires: February 1, 1994
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Estimated average burden
hours per response........05
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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(Print or Type Responses)
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1..Name and Address of Reporting Person* | 2. Date of Event 4. Issuer Name and Ticker or Trading Symbol
| Requiring Statement
| (Month/Day/Year) Shanecy, Inc. (OTCBB - "SECY")
11/11/99
Galanis Jason W.
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(Last) (First) (Middle)
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
9641 Sunset Boulevard
- ---------------------------------------------------- X Director X 10% Owner
(Street) ------- -------
Officer (give Other (specify
--------------------------- X title below) below)
3. I.R.S. Identification ------- -------
Beverly Hills CA 90210 Number of Reporting
- ---------------------------------------------------- Person, if an entity President
(City) (State) (Zip) (Voluntary) Chief Operating Officer
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6. If Amendment, Date of Original
(Month/Day/Year)
N/A
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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 (D) or Indirect Ownership (Instr. 5)
(Instr. 4) (I) (Instr. 5)
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none
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F O R M 3 (continued) Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options,
convertible securities)
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1. Title of Derivative 2. Date Exercisable and 3. Title and Amount of 4. Conversion 5. Ownership 6. Nature of
Security (Instr. 4) Expiration Date Securities Underlying or Exercise Form of Indirect
(Month/Day/Year) Derivative Security Price of Derivative Beneficial
(Instr. 4) Derivative Security: Ownership
Security Direct (D) (Instr. 5)
or Indirect
(I) (Instr. 5)
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Date Expiration Amount or
Exercisable Date Title Number of Shares
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Option #1 See Note 1 See Note 1 Common Stock 1,000,000 $0.09/share D N/A
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Option #2 See Note 1 See Note 1 Preferred Stock 8,500,000 $0.787/share D N/A
(See Note 3)
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Note 1: Option #1 is exercisable immediately after Note 2: Option #2 grants Mr. Galanis, together with
Shanecy, Inc. amends its Articles of Kevin Washington, the right to buy from
Incorporation to increase the number of its Thesseus International Asset Fund N.V.
authorized shares. Option #1 will terminate the ("Thesseus"), and Thesseus the right to sell,
sooner of five (5) years after issuance or 8.5 million shares of Preferred Stock, and any
ninety (90) days after Mr. Galanis ceases to shares of Common Stock into which they have
be affiliated with Shanecy, Inc. been converted, at an aggregate price of
$6,690,000. Option #2 shall run for two years
Note 3: Each share of Preferred Stock is convertible at the stated fixed price from the date of
into one (1) share of Common Stock. issuance of the Preferred Stock, but the amount
of Preferred Stock Subject thereto shall
decrease by 5% each month following
commencement of Option #2.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violation See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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**Signature of Reporting Person Date
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