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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).
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1. Name and Address of Reporting Person*
Scimeca Charles J.
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(Last) (First) (Middle)
320 Island Way #210
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(Street)
Clearwater Florida 33767
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Equity Growth Systems, inc. ETSY
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
9/15/95 4/14/96 3/26/98
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5. If Amendment, Date of Original (Month/Year)
Not Applicable
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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)
President
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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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Page 1
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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 9/15/95 J 200.000 A $200 (1) 200,000 D
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Common Stock 6/14/96 J 100,000 A $1000(1) 300,000 D
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Common Stock 3/26/98 J 150,000 A (2) 450,000 D
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Common Stock 7/7/98 J 450,000 A $4500 450,000 I
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Common Stock 12/16/98 J 450,000 A (3) 0
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(1) .001 cent per share
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(2) Equity Board resolution states shares are valued at $.40 per share. The value attributed by the reporting person
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attributes value to be $.01 per share.
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(3) The reporting person attributes value to be $.01 per share.
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(4) On July 5, 1998 the reporting person entered into a stock purchase agreement with Palmair, Inc., a Bahamian corporation,
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wherein Palmair, Inc. agreed to purchase 450,000 shares for $4,500 and forgive a debtness owed Diederich Gentis (note dated
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11-10-95), on or before December 31, 1998. On or about 7-7-98, 450,000 shares of common stock was transferred to
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Palamir, Inc. The agreement provides that until the consimation of the sale the reporting person was to hold full voting
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rights because of changes that Equity Growth was experiencing. Attached are copies of stock transfer and purchase agreement
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dated on or about 12/16/98 as Exhibit A. The purchase price for the 450,000 shares was exercised.
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/98)
Page 2
<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>
Common Stock 0.2 12/9/98 J 0 12/9/98 12/31/2000 Common 200,000 0.02 0 D
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(5) Five months before receiving option to purchase 200,000 shares the reporting person transferred to Palmair, Inc, a Bahamian
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corporation, "all rights that Mr. Scimeca acquired from Equity Growth Systems, inc. for a period of six months", option to be
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exercised within 9 months.
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</TABLE>
Explanation of Responses:
/s/ Charles J. Scimeca /s/ 7/30/99
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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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<PAGE>
STOCK TRANSFER AND PURCHASE AGREEMENT
THIS AGREEMENT ENTERED INTO THIS 5TH DAY OF JULY 1998 BETWEEN
CHARLES J. SCIMECA HEREIN AFTER REFERRED TO AS TRANSFEROR/SELLER OR
TS) AND PALMAIR, INC. (TRANSFEREE/PURCHASER OR TP).
FOR VALUABLE CONSIDERATION (TS) WILL TRANSFER/SELL 450,000 SHARES OF EQUITY
GROWTH SYSTEMS, INC. COMMON STOCK, THAT HE OWNS TO (TP), STOCK CERTIFICATES
#027, #063, #130. (TP) UNDERSTANDS THIS STOCK IS RESTRICTED UNDER RULE 144. (TS)
WILL RETAIN VOTING RIGHTS FOR THE 450,000 SHARES UNTIL DECEMBER 31, 1998 BECAUSE
OF THE CHANGES EQUITY GROWTH SYSTEMS IS EXPERIENCING. THE ACTUAL SALE FOR THIS
TRANSACTION FOR TAX AND RULE 144 PURPOSES WILL BE ON OR BEFORE DECEMBER 31,
1998, AT WHICH TIME (TP) WILL PAY TO (TS) $4,500.00 USA CURRENCY OR FORGIVE ALL
DEBT OWED TO HER SON DIEDERICH GENTIS BY CHARLES SCIMECA (WHICH IS AGREEABLE TO
HIM).
(TS) GRANTS TO (TP) AN OPTION TO PURCHASE AT DOUBLE THE THEN CURRENT PAR VALUE
PER SHARE IN (USA FUNDS) ALL RIGHTS THAT (TS) ACQUIRES FROM EQUITY GROWTH
SYSTEMS, INC FOR PURCHASE OF EQUITY GROWTH SYSTEMS STOCK INCLUDING STOCK OPTIONS
WARRANTS OR OTHER TYPES OF STOCK OWNERSHIP RIGHTS FOR A PERIOD OF 6 MONTHS. (TP)
HAS 9 MONTHS FROM THE ISSUANCE DATE TO EXERCISE THEIR OPTION.
(TS) WILL KEEP (TP) OR HER FAMILY MEMBERS OR OTHER STOCK HOLDERS INFORMED OF
DATES THAT ARE IMPORTANT TO THE TERMS OF THIS CONTRACT.
FOR PRIVACY REASONS FOR THE BENEFIT OF PALMAIR STOCKHOLDERS THIS CONTRACT SHALL
NOT BE RECORDED OR MADE PUBLIC RECORD.
IF THIS AGREEMENT HAS TO BE ENFORCED BY ANY TYPE OF LEGAL PROCEDURE THE
PREVAILING PARTY SHALL BE AWARDED THEIR LEGAL FEES.
PROOF OF AUTHORITY TO EXECUTE THIS AGREEMENT IS ATTACHED AS EXHIBIT
A.
/s/ Charles J. Scimeca /s/ /s/ C. Gentis Vermeulen /s/
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TRANSFEROR/SELLER TRANSFEREE/PURCHASER
DATE July 5,1998 Date 7/8/98
WITNESS Signatures unreadable
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