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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*
Umile Michael D.
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(Last) (First) (Middle)
210 Oregon Lane
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(Street)
Boca Raton Florida 33487
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
6/25/99
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
###-##-####
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4. Issuer Name and Ticker or Trading Symbol
Equity Growth Systems, inc. ETSY
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [X] 10% Owner
[_] Officer (give title below) [X] Other (specify below)
Director and Officer of Subsidiary
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6. If Amendment, Date of Original (Month/Day/Year)
Not applicable
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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) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 4)
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<S> <C> <C> <C>
Common Stock 1,105,325 D
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* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
(Form 3-07/98)
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<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Contingent 1999 1999 Common 500,000 (1) I
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Deferred shares 2000 2000 Common 800,000 (1) I
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of common stock 2001 2001 Common 800,000 (1) I
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2002 2002 Common 800,000 (1) I
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2003 2003 Common 800,000 (1) I
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2004 2004 Common 800,000 (1) I
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(1) Provisions of reorganization agreement dated June 25, 1999. authorizes contingent deferred shares of common stock to be issued
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to myself and Mr. Bruce Gleason if certain net pretax profits are received. I will be entitled to approxiamately 49% of shares
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indicated above.
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</TABLE>
Explanation of Responses:
/s/ Michael D. Umile /s/ 7-12-99
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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.
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