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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
X Director X 10% Owner
Kircher Stephen C. Morrow Snowboards, Inc. (MRRWE) ---- ----
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) ----------------- ------------------
2424 Professional Drive 680308736 December 1999
- -------------------------------------------- ------------------ --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original _X_Form filed by One Reporting Person
(Month/Year) ___Form filed by More than One
Roseville, California 95661 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock No Par Value 12/01/1999 J(01) V 2,000,000(01) A $.07(01) 01 01
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Common Stock No Par Value 12/01/1999 J(02) V 1,000,000(02) 02 02 02
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Common Stock No Par Value J(03) V 212,900(03) 03 03 03
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). SEC 1474 (7-97)
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 CONTROL NUMBER.
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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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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
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Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
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Option $.07 11/12/1999 A V 50,000 11/12/1999 Upon
termin-
ation or
resigna-
tion as a
director
of Morrow
Snowboards,
Inc.
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7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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Common Stock 50,000 $.07 50,000 D
No Par Value
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* This statement is being filed by Stephen C. Kircher ("Mr. Kircher") (the "Reporting
Person"). The principal business address of the Reporting Person is 2424 Professional
Drive, Roseville, CA 95661.
Explanation of Responses:
01: On December 1, 1999 Capitol Bay Management ("CBM") transferred 2,000,000 shares of
Morrow Snowboards, Inc. ("MSI") common stock, no par value ("Shares") (such Shares
were transferred with a valuation of $.07 per Share) to Mr. Kircher as compensation.
02: On December 1, 1999, CBM agreed to purchase all of Steven Kay ("Mr. Kay") and Larry
D. Kelley's ("Mr. Kelley") equity interest in Capitol Bay Group ("CBG") (the "Stock
Agreement") and, as partial consideration for such purchase, CBM agreed to sell, assign
and transfer 500,000 Shares (such Shares were transferred with a valuation of $.07 per
Share) to each of Mr. Kay and Mr. Kelley. Mr. Kay and Mr. Kelley each have executed a
one (1) year irrevocable proxy in favor of Mr. Kircher, allowing him to vote the Shares
on any matter submitted to shareholders of MSI, with the exception of any vote concerning
any merger of MSI, any sale of all or substantially all of the assets of MSI or any
reorganization to which MSI is a party. Mr. Kircher disclaims any beneficial ownership
in the Shares held by each of Mr. Kay and Mr. Kelley.
03: As of the date hereof, Capitol Bay Securities ("CBS") beneficially owns 212,900 Shares,
all of which were purchased in open market transactions for its own account and are
currently held in inventory.
CBS is a wholly-owned subsidiary of CBG and CBG is, subsequent to the foregoing
transactions with Mr. Kay and Mr. Kelley, wholly-owned by Mr. Kircher. Therefor, Mr. Kircher
may be deemed to control CBG which may be deemed to control CBS. Mr. Kircher disclaims
any beneficial ownership in the Shares held by CBS.
/s/ Stephen C. Kircher 1/10/2000
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**Intentional misstatements or omissions of facts constitute Signature of Reporting Person Date
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 is insufficient, SEE Instruction 6 for procedure.
Alternatively, this form is permitted to be submitted to the Commission in
electronic format at the option of the reporting person pursuant to Rule 101(b)(4)
of Regulation T.
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 1474 (7-97)
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