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-------- UNITED STATES 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
(Print or Type Responses) 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
Rothstein Norman (Month/Day/Year) H Power Corp.("HPOW")
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(Last) (First) (Middle) 8/8/00 11. Relationship of Reporting Person(s) 12.If Amendment, Date
----------------------- to Issuer (Check all applicable) of Original
3. IRS Identification Director X 10% Owner (Month/Day/Year)
Number of Reporting ---- ----
311 Links Drive West Person, if an entity 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
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Oceanside, NY 11572
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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, $0.001 par value per share 153,125 D
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Common Stock, $0.001 par value per share 3,000,000 I By Spouse (1)
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Common Stock, $0.001 par value per share 75,000 I By Brother (2)
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Common Stock, $0.001 par value per share 3,625,000 I By Children (3)
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Common Stock, $0.001 par value per share 125,000 I By Self as trustee for
Jordan H. Rothstein 2000
Irrevocable Trust(4)
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Common Stock, $0.001 par value per share 125,000 I By Self as trustee for
Nicole S. Rothstein 2000
Irrevocable Trust(5)
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Common Stock, $0.001 par value per share 125,000 I By Dynamark Corp. (a company
controlled by Self)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 5(b)(v). SEC 1473 (3-99)
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 CONTROL NUMBER.
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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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Options to Purchase Common Currently 5/31/01 Common Stock, 250,000 $2.50 D
Stock,$0.001 par value per $0.001 par value
share per share
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Options to Purchase Common Currently 5/31/04 Common Stock, 500,000 $3.00 D
Stock,$0.001 par value per $0.001 par value
share per share
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Options to Purchase Common Currently 3/8/05 Common Stock, 300,000 (6) D
Stock,$0.001 par value per $0.001 par value
share per share
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Options to Purchase Common Common Stock, 250,000 I By NBG
Stock,$0.001 par value per $0.001 par value Technologies,Inc.
share per share (a company
conrolled by Self)
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Explanation of Responses: (1) The 3,000,000 shares of Common Stock are held by Cynthia Rothstein, the spouse of the Reporting
Person. Mr. Rothstein disclaims beneficial ownership of the shares of Common Stock held by his
spouse for purposes of Section 16 of the Securities Exchange Act of 1934 and for all other
purposes.
(2) The 75,000 shares of Common Stock are held by Carl Rothstein, the brother of the Reporting Person.
Mr. Rothstein disclaims beneficial ownership of the shares of Common Stock held by his brother for
purposes of Section 16 of the Securities Exchange Act of 1934 and for all other purposes.
(3) The 3,625,000 shares of Common Stock are held by Allan Rothstein, (1,625,000 shares),Steven
Rothstein (1,000,000 shares) and Tammy Rothstein (1,000,000 shares), the children of the Reporting
Person. Mr. Rothstein disclaims beneficial ownership of the shares of Common Stock held by his
children for purposes of Section 16 of the Securities Exchange Act of 1934 and for all other
purposes.
(4) Consists of shares of Common Stock owned of record by the Jordan H. Rothstein 2000 Irrevocable
Trust, of which the reporting person is the Trustee. Mr. Rothstein disclaims beneficial ownership
of the shares of Common Stock held by the Trust for purposes of Section 16 of the Securities
Exchange Act of 1934 and for all other purposes.
(5) Consists of shares of Common Stock owned of record by the Nicole S. Rothstein 2000 Irrevocable
Trust, of which the reporting person is the Trustee. Mr. Rothstein disclaims beneficial ownership
of the shares of Common Stock held by the Trust for purposes of Section 16 of the Securities
Exchange Act of 1934 and for all other purposes.
(6) The option to purchase 300,000 shares of common stock held by Norman Rothstein are excercisable at a
price per share equal to the initial public offering price of H Power Corp.'s common stock, assumed
for purposes of this table to be $12.00 per share.
/s/ Norman Rothstein 8/2/00
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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).
Note: File three copies of this Form, one of which must be manually signed. If space 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. Page 2
SEC 1473 (3-99)
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