F O R M 4
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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*
Astoria Capital Partners, L.P.
6600 SW 92nd Avenue, Ste. 370
Portland, Oregon 97223
2. Issuer Name and Ticker or Trading Symbol
DBS Industries, Inc.
3. IRS Identification Number of Reporting Person, if an Entity
(Voluntary)
94-3160631
4. Statement for Month/Year
March, 1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[] Director [X] 10% Owner
[] Officer (give title below) [] Other (specify below)
7. Individual or Joint/Group Filing
(Check applicable line)
[X] Form filed by one Reporting Person
[] Form filed by more than one Reporting Person
*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.
Table 1 -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
1. Title of Security (Instr. 3)
Common Stock, $.0004 par value
2. Transaction Date (Month/Day/Year)
3/22/99
3. Transaction Code (Instr. 8)
Code S
Code P
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
Amount 1,000,000 shares
(A) or (D)D
Price $4.00/share
Amount 1,000,000 shares
(A) or (D)A
Price $3.00/share
5. Amount of Securities Beneficially Owned at End of Month
(Instr. 3 and 4)
1,000,000
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
D
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Table II -- Derivative Securities Acquired,
Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)
Warrant to Purchase Shares oF Common Stock
2. Conversion or Exercise Price of Derivative Security
$3.00 per share
3. Transaction Date (Month/Day/Year)
3/24/99
4. Transaction Code (Instr. 8)
Code S
V
5. Number of Derivative Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5)
(A) D
(D) 1,000,000
6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable immed.
Expiration Date August 28, 2001
7. Title and Amount of Underlying Securities (Instr. 3 and 4)
Title Common Stock,
$0.0004 par value
Amount or Number of Shares 1,000,000 shares
of Common Stock
8. Price of Derivative Security (Instr. 5)
Sold at $3.00 per share
9. Number of Derivative Securities Beneficially Owned at
End of Month (Instr. 4)
-0-
10. Ownership Form of Derivative Security: Direct (D) or
Indirect (I) (Instr. 4)
D
11. Nature of Indirect Beneficial Ownership (Instr. 4)
Explanation of Responses:
ASTORIA CAPITAL PARTNERS, L.P.
/s/ Richard W. Koe 4/12/99
Richard W. Koe Date
General Partner of
Astoria Capital Partners, L.P.
**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.
(..continued)
