[DESCRIPTION]STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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FORM 4
/X/ Check this box if no longer OMB APPROVAL
subject to Section 16, OMB NUMBER: 3235-0287
Form 4 or Form 5 EXPIRES: SEPTEMBER 30, 1998
obligations may continue. ESTIMATED AVERAGE BURDEN
See Instruction 1(b) HOURS PER RESPONSE 0.5
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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
(Print or Type Responses)
1. Name and Address of Reporting Person*
Tsai Aaron
(Last) (First) (Middle)
1710 E. Division St.
(Street)
Evansville IN 47711
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Airtrax, Inc. (AITX)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
11/99
5. If Amendment, Date of Original (Month/Year)
n/a
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner
( ) Officer (give title below) ( V ) Other (specify below)
Former Officer and Director.
7. Individual or Joint/Group Filing (Check Applicable Line)
( V ) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security 2. Transaction Date
(Instr. 3) (Month/Day/Year)
- -------------------------------------- ------------------------
<S> <C>
a. Common Stock, par value $.001 11/19/1999
- -------------------------------------- ------------------------
b.
- -------------------------------------- ------------------------
c.
- -------------------------------------- ------------------------
d.
- -------------------------------------- ------------------------
e.
- -------------------------------------- ------------------------
f.
- -------------------------------------- ------------------------
3. Transaction 4. Securities Acquired (A) or
Code Disposed of (D)
(Instr. 8) (Instr. 3, 4 and 5)
- ------------------- -------------------------------------------
Code V Amount (A) or (D) Price
- --------- ------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
a. J 8,138,771 D $0.00
- --------- ------- ------------- ------------- -------------
b.
- --------- ------- ------------- ------------- -------------
c.
- --------- ------- ------------- ------------- -------------
d.
- --------- ------- ------------- ------------- -------------
e.
- --------- ------- ------------- ------------- -------------
f.
- --------- ------- ------------- ------------- -------------
<CAPTION>
5. Amount of Securities 6. Ownership Form: 7. Nature of Indirect
Benificially Owned Direct (D) or Beneficial Ownership
at End of Month Indirect (I)
(Instr. 4) (Instr. 4)
(Instr. 3 and 4)
- ------------------------------ ------------------ -----------------------
<S> <C> <C>
a. 111,229 I See note 2
- ------------------------------ ------------------ -----------------------
b.
- ------------------------------ ------------------ -----------------------
c.
- ------------------------------ ------------------ -----------------------
d.
- ------------------------------ ------------------ -----------------------
e.
- ------------------------------ ------------------ -----------------------
f.
- ------------------------------ ------------------ -----------------------
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
If the form is file by more than one reporting person, see Instruction 4(b)(v).
</TABLE>
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<TABLE>
<CAPTION>
FORM 4 (continued) Table II - Derivative Securities Acquired, Disposed of,
or Beneficially Owned
(e.g, puts, calls, warrants, options, convertible securities)
1. Title of 2. Conver- 3. Transac- 4. Transac- 5. Number of
Derivative sion or tion tion Derivative
Security Exercise Date Code Securities
(Instr. 3) Price (Month/ Acquired (A) or
of Day/ (Instr. 8) Disposed of (D)
Derivative Year) (Instr. 3, 4 and 5)
Security ------------- --------------------
Code V (A) (D)
- -------------- -------------- ---------- ---- ------ --------- ----------
<S> <C> <C> <C> <C> <C> <C>
a.
- -------------- -------------- ---------- ---- ------ --------- ----------
b.
- -------------- -------------- ---------- ---- ------ --------- ----------
c.
- -------------- -------------- ---------- ---- ------ --------- ----------
d.
- -------------- -------------- ---------- ---- ------ --------- ----------
e.
- -------------- -------------- ---------- ---- ------ --------- ----------
f.
- -------------- -------------- ---------- ---- ------ --------- ----------
<CAPTION>
6. Date Exercisable 7. Title and Amount of Underlying 8. Price of
and Expiration Securities Derivative
Date (Instr. 3 and 4) Security
(Month/Day/Year) (Instr. 5)
- ---------------------------- ---------------------------------
Date Expiration Title Amount or
Exercisable Date Number of
Shares
- ----------------- ----------- ----------------- -------------- -------------
<S> <C> <C> <C> <C>
a.
- ----------------- ----------- ----------------- -------------- -------------
b.
- ----------------- ----------- ----------------- -------------- -------------
c.
- ----------------- ----------- ----------------- -------------- -------------
d.
- ----------------- ----------- ----------------- -------------- -------------
e.
- ----------------- ----------- ----------------- -------------- -------------
f.
- ----------------- ----------- ----------------- -------------- -------------
9. Number of 10. Ownership Form 11. Nature of
Derivative of Deriva- Indirect
Securities tive Beneficial
Beneficially Security: Ownership
Owned at Direct (D) (Instr. 4)
End of Month or Indirect
(Instr. 4) (I) (Instr. 4)
- ------------------- -------------------- -----------------
<S> <C> <C>
a.
- ------------------- -------------------- -----------------
b.
- ------------------- -------------------- -----------------
c.
- ------------------- -------------------- -----------------
d.
- ------------------- -------------------- -----------------
e.
- ------------------- -------------------- -----------------
f.
- ------------------- -------------------- -----------------
</TABLE>
Explanation of Responses:
(1) The shares were reduced as a result of a merger transaction.
(2) The shares are owned by MAS Capital Inc. Aaron Tsai is the control
person of MAS Capital Inc.
/s/ Aaron Tsai January 31, 2000
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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 procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to resond unless the form displays
a currently valid OMB Number.
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