U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3/A
Amendment No. 1
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*
McCullough James R.
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(Last) (First) (Middle)
c/o Coyote Network Systems, Inc.
1640 S. Sepulveda Boulevard, Suite 320
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(Street)
Los Angeles, CA 90025
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
January 26, 2000
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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
Coyote Network Systems, Inc. (CYOE)
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5. 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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6. If Amendment, Date of Original (Month/Day/Year)
January 26, 2000
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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 500 (1) D
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</TABLE>
* 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 3-07/99) Page 1 of 2
<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>
Employee Stock Option
(right to buy) (2) 01/14/06 Common Stock 750,000 $5.00 D
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</TABLE>
Explanation of Responses:
(1) This Amendment No. 1 is being filed to correct the original Form 3 filed on
February 7, 2000, which reported that Mr. McCullough benefically owned
2,000,000 shares, because of his one-third membership interest in KRJ, LLC
which directly owns the reported securities. Because Mr. McCullough did and
does not have a controlling interest in KRJ, LLC and did and does not have
investment power over these shares, pursuant to Rule 16a-1(a)(2)(iii), Mr.
McCullough did and does not benefically own these shares.
(2) Pursuant to an employment agreement dated January 26, 2000, the reporting
person received options to purchase 750,000 shares of the Company's common
stock (the "Options") at $5.00 per share. Of such Options, 300,000 are
currently vested with the remaining Options vesting over three years,
beginning on January 14, 2001, subject to acceleration if certain common
stock price targets are met and sustained.
/s/ James R. McCullough July 18, 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.
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