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---------------- U.S. SECURITIES AND EXCHANGE COMMISSION ----------------------------
|F O R M 3| Washington, D.C. 20549 | OMB APPROVAL |
---------------- |--------------------------|
INITIAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0104|
|Expires: September 30,1998|
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, |Estimated ave. burden |
Section 17(a) of the Public Utility Holding Company Act of 1935 or |hours per response.....0.5|
(Print or Type Respones) Section 30(f) of the Investment Company Act 1940 ---------------------------|
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|1.Name and Address of Reporting Person* |2.Date of Event |4.Issuer Name and Ticker or Trading Symbol |
| | Requiring Statement | |
| Pacific Financial Group, Inc. (1) | (Month/Day/Year) | AutoCorp Equities, Inc. (ACOR) |
|----------------------------------------| |-----------------------------------------------------------------|
| (Last) (First) (MI)| |5.Relationship of Reporting Person to |6.If Amendment, Date of |
| | 11/14/2000 | Issuer (Check all Applicable) | Original (Mon/Day/Year)|
| | | | |
| |-----------------------| Director X 10% Owner | / / |
| 2740 North Dallas Parkway, Suite 200 |3.IRS or Soc. Sec. No. |--- --- |-------------------------|
|----------------------------------------| of Reporting Person | |7.Individual or Joint/ |
| (Street) | (Voluntary) | Officer Other | Group Filing |
| | |---(give title below)---(Specify below)| (Check Applicable Line)|
| | | | Form filed by One |
| | | |--- Reporting Person |
| | | | X Form filed by More |
| Plano Texas 75093 | | |--- than Reporting Person|
|----------------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) | TABLE I - Non-Derivative Securities Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security (Instr. 4) |2.Amount of Securities |3.Ownership |4.Nature of Indirect Beneficial |
| | Beneficially Owned | Form: | Ownership (Instr. 5) |
| | (Instr. 4) | Direct (D) | |
| | | or Indirect | |
| | | (I)(Instr.5)| |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
|<S> |<C> |<C> |<C> |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|----------------------------------------------------------------------------------------------------------------------------------|
Reminder: Report on a separate line for each class securities owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 5(b)(v).
(Over)
Potential persons who are to respond to the collection of information contained in this form are not required SEC 1473 (7-97)
to respond unless the form displays a currently valid OMB control number.
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FORM 3 (continued) TABLE II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible security)
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|1.Title of Derivative |2.Date Exercisable |3.Title and Amount of Underlying |4.Conversion |5.Ownership|6.Nature of |
| Security (Instr. 4) | and Expiration | Derivative Security (Instr. 4) | or | Form of | Indirect |
| | Date | | Exercise | Deriv- | Beneficial |
| | (Month/Day/Year) | | Price of | ative | Ownership |
| |----------------------|--------------------------------------| Derivative | Security:| (Instr. 5) |
| |Date |Expiration| |Amount or| Security | Direct | |
| |Exercisable|Date | Title |Number | | (D) or | |
| | | | |of Shares| | Indirect | |
| | | | | | | (I) | |
| | | | | | | (Instr.5)| |
|--------------------------|-----------|----------|----------------------------|---------|-------------|-----------|---------------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|--------------------------|-----------|----------|----------------------------|---------|-------------|-----------|---------------|
|Series B Convertible | Immed. | | Common Stock |1,612,083| (2) | D(3) | |
|Preferred Stock | | | | | | | |
|----------------------------------------------------------------------------------------------------------------------------------|
Explanation of Responses:
(1) Designated Filer. See Supplement A for group beneficial owners.
(2) See attached Supplement B.
(3) Pacific Financial Group, Inc. is a wholly-owned subsidiary of Pacific USA Holdings Corp., which is a wholly-owned subsidiary
of Pacific Electric Wire & Cable Co. Ltd.
Pacific Financial Group, Inc.
**Intentional misstatements or omissions of facts constitute Federal By: /s/ Michael K. McCraw, President 11/17/2000
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). -------------------------------------------- ----------
**Signature of Reporting Person Date
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 Number. PAGE: 2
SEC 1473 (7-97)
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SUPPLEMENT A TO FORM 3
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JOINT FILER INFORMATION
Designated Filer: Pacific Financial Group, Inc.
Issuer & Ticker Symbol: AutoCorp Equities, Inc. (ACOR)
Joint Filers(1): Pacific USA Holdings Corp.
2740 North Dallas Parkway, Suite 200
Plano, Texas 75093
Tax ID No.: 75-2255876
By: /s/ Michael K. McCraw
-------------------------------------------
Michael K. McCraw
Chief Financial Officer
Pacific Electric Wire & Cable Co. Ltd.
4th Fl. 285 Chung Hsiao East Road, Section 4
Taipei, Taiwan
Republic of China
Tax ID No.: N/A (Foreign Entity)
By: /s/ Tung Ching-yun
-------------------------------------------
Tung Ching-yun
President
(1) The filing of this Form 3 by a joint filer shall not be construed
as an admission that such filer, or any executive officers or
directors of such filer is, for the purposes of Section 13(d) or
13(g) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), the beneficial owner of any securities covered by
this Form 3 of that this Form 3 is required to be filed by such
persons.
Page 3 of 4
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SUPPLEMENT B TO FORM 3
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SUPPLEMENTAL INFORMATION
Designated Filer: Pacific Financial Group, Inc.
Issuer & Ticker Symbol: AutoCorp Equities, Inc. (ACOR)
This Form 3 is being jointly filed by Pacific Electric Wire & Cable Co.
Ltd., a company limited by shares formed under the laws of The Republic of China
("PEWC"), Pacific USA Holdings Corp., a Texas corporation ("PUSA") and Pacific
Financial Group, Inc., a Delaware corporation ("PFG"). PFC is a wholly owned
subsidiary of PUSA, which is a wholly owned subsidiary of PEWC.
Pursuant to a Master Agreement dated as of October 1, 2000 (the "Master
Agreement") by and between PFG, AutoPrime, Inc., a Delaware corporation ("AP")
and AutoCorp Equities, Inc., a Nevada corporation ("ACE"), PFG and AP agreed to
convert approximately $23 million of indebtedness owed by ACE to AP (the "Debt")
into 1,612,083 shares of Series B Convertible Preferred Stock of ACE (the
"Series B Preferred Stock"). Each share of Series B Preferred Stock is
convertible at any time at the option of the holder into one share of common
stock, par value $0.01 per share, of ACE (the "Common Stock"). On a
fully-converted basis, the Series B Preferred Stock would represent
approximately 27.2% of the issued and outstanding Common Stock. The
consideration received by ACE for the issuance of the Series B Preferred Stock
consists of (i) the forgiveness by AP and PFG of the Debt, and (ii) the
contribution by PFG and AP to the Company of repossessed vehicles and performing
and non-performing retail installment sales contracts valued at approximately
$600,000. No additional consideration is required in order for PFG to effect a
conversion of the Series B Preferred Stock into Common Stock.
Page 4 of 4
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