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 this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See
Instruction 1(b).
1. Name and Address of Reporting Person
Epstein Edward N.
-------------------------------------------
(Last) (First) (Middle)
628 West Road
-------------------------------------------
(Street)
New Canaan CT 06840
-------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ACORN VENTURE CAPITAL CORPORATION AVCC
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year: December 1995
5. If Amendment, Date of Original (Month/Year): January 9, 1996
6. Relationship of Reporting Person to Issuer (Check all applicable)
x Director x 10% Owner
------- -------
x Officer (give title Other (specify below)
------- below) -------
President & Chief Operating Officer
------------------------------------
<PAGE>
TABLE I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
1. Title of 2. Transaction 3. Transaction 4. Securities Acquired
Security Date Code (Ins 8) (A) or Disposed of (D)
(Ins 3) (Month/Day/ (Ins 3, 4 and 5)
Year)
---------------------------------------------
Code V Amount (A) or (D) Price
- -----------------------------------------------------------------------------
Common Stock 12/12/95 P 121,951 A* $1.06
$.01 par value
Common Stock 12/14/95 P 28,049 A* $ .87
$.01 par value
Common Stock 12/19/95 J 750,000 D**
$.01 par value
5. Amount of Securities 6. Ownership 7. Nature of Indirect
Beneficially Owned at Form: Direct Beneficial Ownership
End of Month (Ins. 3 (D) or Indirect (Ins. 4)
and 4) (I) (Ins. 4)
- -----------------------------------------------------------------------------
750,000 D*
<PAGE>
TABLE II - Derivative Securities Acquired, Disposed of or
Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of 2. Conversion 3. Trans- 4. Trans- 5. Number of
Derivative or Exercise action action Derivative
Security Price of Date Code Securities
(Ins. 3) Derivative (Month/ (Ins. 8) Acquired (A)
Day/ or Disposed
Year) of (D) (Ins.
3, 4 and 5)
----------- -------------
Code V (A) (D)
- -------------- --------------- -------- ----- ----- ------ -------
Option-Right $.875 11/24/95 A V 150,000
to Buy
6. Date Exer- 7. Title and Amount of Under- 8. Price of
cisable and lying Securities Derivative
Expiration (Ins. 3 and 4) Security
Date (Month/ (Ins. 5)
Day/Year)
--------------- --------------------------
Date Expira- Title Amount or
Exer- tion No. of Shares
cisable Date
--------------- -------------- ------------- -----------------
50,000 11/23/05 Common Stock 150,000 Granted pursuant
immedi- to 1991 Stock
ately Option Plan
100,000
after
12/15/96
9. Number of Deriva- 10. Ownership Form of 11. Nature of
tive Securities Bene- Derivative Security: Indirect
ficially Owned at End Direct (D) or Beneficial
of Month (Ins. 4) Indirect (I) (Ins. 4) Ownership
(Ins. 4)
---------------------- ------------------------ --------------
150,000 D
Explanation of Responses:
* The Reporting Person purchased 150,000 shares of Common Stock as part of a
group, which purchased an aggregate of 615,000 shares. The Reporting Person
disclaims "beneficial ownership" in the shares of each of such persons (other
than himself). The members of the group are: Herbert Berman, Ronald J.
Manganiello, Bert Sager, Stephen A. Ollendorff and Paula Berliner.
100,000 shares of the purchase reported herein are held in Reporting
Person's Individual Retirement Account.
50,000 shares of the purchase reported herein are held in Reporting Person's
Profit Sharing Plan.
** The Reporting Person entered into an Irrevocable Proxy and Voting Agreement
with Respect to Election of Directors, dated December 19, 1995.
Edward N. Epstein January 10, 1996
---------------------------------- ----------------------
*** 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).
