[DESCRIPTION]INITIAL STATEMENT OF BENEFICIAL OWNERSHIP
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FORM 3
OMB APPROVAL
OMB NUMBER: 3235-0104
EXPIRES: SEPTEMBER 30, 1998
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE 0.5
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
1. Name and Address of Reporting Person
MAS Capital Management Inc.
(Last) (First) (Middle)
9 Sandpiper Court
(Street)
Fairview Queensland, Australia 4870
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
09/30/99
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
MAS Acquisition XII Corp.
(Common Stock: Not Traded)
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( V ) Director ( V ) 10% Owner
( V ) Officer (give title below) ( V ) Other (specify below)
Aaron Tsai is the Chairman of the Board of Directors, President, Chief
Executive Officer and Treasurer
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check applicable line)
( ) Form filed by One Reporting Person
( V ) Form filed by More than One Reporting Person
Page 1
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Table I - Non-Derivative Securities Beneficially Owned
<TABLE>
<CAPTION>
1. Title of Security 2. Amount of Securities
(Instr. 4) Beneficially Owned
(Instr. 4)
<S> <C>
a. Common Stock, par value $.001 8,250,000
b. Common Stock, par value $.001 350
c.
d.
e.
f.
3. Ownership Form: Direct 4. Nature of Indirect
(D) or Indirect (I) Beneficial Ownership
(Instr. 5) (Instr. 4)
<C> <C>
a. D
b. I John Tsai, brother of Aaron Tsai
c.
d.
e.
f.
</TABLE>
Table II - Derivative Securities Beneficially Owned
(e.g, puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
1. Title of Derivative 2. Date Exercisable and 3. Title and Amount
Securities Expiration Date of Securities
(Instr. 4) (Month/Day/Year) Underlying
Derivative
Security
(Instr. 4)
Date Expiration Amount or
Exercisable Date Title Number of
Shares
<S> <C> <C> <C> <C>
a.
b.
c.
d.
e.
f.
</TABLE>
<TABLE>
<CAPTION>
4. Conversion or 5. Ownership Form of 6. Nature of Indirect
Exercise Price Direct (D) or Indirect (I) Beneficial
of Derivative (Instr. 5) Ownership
Security (Instr. 5)
<S> <C> <C>
a.
b.
c.
d.
e.
f.
</TABLE>
Explanation of Responses:
MAS Capital Management Inc.
/s/ Aaron Tsai, Chairman of the Board of Directors October 8, 1999
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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.
Page 2
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Name of Person Filing:
MAS Capital Management Inc., Aaron Tsai and Shane Subloo.
MAS Capital Management Inc. and
Shane Subloo
9 Sandpiper Court
Fairview, Queensland
Australia 4870
Aaron Tsai
c/o MAS Financial Corp.
1710 E. Division St.
Evansville, IN 47711
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* Pursuant to the Joint Filing Agreement with respect to Form 3 attached
hereto as Exhibit I, among MAS Capital Management Inc., Aaron Tsai and
Shane Subloo. This Form 3 statement is filed on behalf of each of them.
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EXHIBIT I
JOINT FILING AGREEMENT
Each of the undersigned hereby agrees that the Form 3 filed herewith
is filed jointly, pursuant to Rule 13d-1(f)(1) of the Securities Exchange
Act of 1934, as amended on behalf of each of them.
Dated: October 8, 1999
MAS Capital Management Inc.
By: /s/ Shane Subloo
----------------
Shane Subloo
President
By: /s/ Aaron Tsai
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Aaron Tsai
By: /s/ Shane Subloo
----------------
Shane Subloo