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OMB APPROVAL
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OMB Number 3235-0287
Expires: 12-31-2001
Estimated average burden
hours per response ....... 0.5
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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 this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b). (Print or Type Response)
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1. Name and Address of Reporting Person*
Lu James K.T.
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(Last) (First) (Middle)
16200 Carmenita Road
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(Street)
Cerritos CA 90703
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Diamond Entertainment Corporation (DMEC)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
August 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[x] Director [x] 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 1 Reporting Person
[_] Form filed by more than 1 Reporting Person
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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 8/4/99 S 165,000 (D) $0.0958 7,197,785 (D)
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Common Stock 8/5/99 S 50,000 (D) $0.0955 7,197,785 (D)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1474(3-99)
Page 1 of 2
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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 $.25 4/23/96 A A Immed. 4/22/01 Common 600,000 ** 600,000 D
Options Stock
(right to buy)
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Common Stock $.10 9/01/97 Immed. 3/31/02 Common 3,000,000 3,000,000 D
Options Stock
(right to buy)*
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Common Stock $.10 7/09/98 Immed. 3/31/03 Common 6,000,000 6,000,000 D
Options Stock
(right to buy)*
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Common Stock $.05 5/25/99 Immed. 5/24/04 Common 1,000,000 1,000,000 D
Options Stock
(right to buy)*
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Common Stock $.10 5/25/99 Immed. 5/24/04 Common 2,500,000 2,500,000 D
Options Stock
(right to buy)*
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Common Stock $.05 3/27/99 Immed. 3/22/02 Common 1,000,000 1,000,000 D
Options Stock
(right to buy)*
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</TABLE>
Explanation of Responses:
* The transaction was reported earlier on a previous Form 4.
** The reported securities were granted in consideration of the Reporting
Person's efforts evidenced by the financial results reported in 1996.
/S/ James Lu 9/09/99
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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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