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OMB APPROVAL
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OMB Number: 3235-0287
Expires: December 31, 2001
Estimated average burden
hours per response . . . 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
(Print or Type responses)
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1. Name and Address of Reporting Person*
Ryan Matthew
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(Last) (First) (Middle)
20 Dayton Avenue
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(Street)
Greenwich CT 06830
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Change Technology Partners, Inc./ "CTPI" (1)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
September 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Chief Executive Officer
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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 Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value 08/21/00 (A) 176,920 (I) (2)
$0.01 per share
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
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.
(Over)
SEC 1474 (3/99)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Non Qualified Stock Common Stock,
Options $1.59 09/12/00 (A) 3,000,000 (3) 08/21/10 par value 3,000,000 3,000,000 (D)
$0.01 per
share
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Series B Convertible Common Stock,
Preferred Stock, par (4) 03/28/00 (A) 577 Immed. par value 23,080 577 (I) (2)
value $0.10 per share $0.01 per
share
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Common Stock,
Common Stock Warrants (5) 03/28/00 (A) 1,000,000 Immed. 03/28/05 par value 1,000,000 1,000,000 (I) (2)
$0.01 per
share
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</TABLE>
Explanation of Responses:
(1) On September 12, 2000, Change Technology Partners, Inc., a Delaware
corporation, became the successor of Arinco Computer Systems, Inc., a New Mexico
corporation, pursuant to a merger. The merger had the effect of changing the
name and domicile of Change Technology Partners, Inc. (f/k/a Arinco Computer
Systems), but did not alter the proportionate interests of security holders.
(2) Such securities are owed by Turtle Holdings LLC. The reporting person is a
member of Turtle Holdings LLC.
(3) One-third of such options vests on 08/21/2001 and the remaining options vest
monthly from 09/21/2001until 08/21/2003.
(4) Each share of Series B Convertible Preferred Stock is convertible into 40
shares of Common Stock.
(5) 375,000 of the warrants have an exercise price of $.50 per share, 375,000 of
the warrants have an exercise price of $.75 per share and 250,000 of the
warrants have an exercise price of $1.00 per share.
/s/ Matthew Ryan Sept. 21, 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 respond unless the form displays a currently
valid OMB control number.
