U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
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
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1. Name and Address of Reporting Person
Aronowitz Michael
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(Last) (First) (Middle)
26 Sutherland Drive
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Highland Mills NY 10930
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
8/31/99
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name or Ticker or Trading Symbol
Saleoutlet.Com, Inc. (SLET)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
President
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6. If Amendment, Date of Original (Month/Year)
N/A
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7. Individual or Joint/Group Filing
(Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form
2. Amount of Securities direct (D) or
1. Title of Security Beneficially Owned Indirect (I)
(Instr. 4) (Instr. 4) (Instr. 5)
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<S> <C> <C>
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Common Stock 1,560,000 D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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Table II -- Derivative Securities Beneficially
Owned (e.g., puts, calls, warrants, options,
convertible securities)
<TABLE>
<CAPTION>
3. Title and Amount of Securities
Underlying Derivative Security
2. Date Exercisable (Instr. 4)
and Expiration Date ------------------------------
(Month/Day/Year) Amount
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Date Expira- Number
1. Title of Derivative Exer- tion of
Security (Instr. 4) cisable Date Title Shares
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<S> <C> <C> <C> <C>
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Stock Option 8/11/99 8/11/09 Common Stock 200,000
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</TABLE>
Explanation of Responses: The option, granted pursuant to an employment
agreement, is exercisable at $1.25 per share during the term of employment with
the Issuer but in no event later than ten years from the date of grant.
By: /s/ Michael Aronowitz December 6, 1999
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**Michael Aronowitz Date
**Signature of Reporting Person
Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 19 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 respond unless the form displays a currently
valid OMB Number.
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