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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
FORM 4 Washington, DC. 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 OMB APPROVAL
subject to Section 16. Form 4 or OMB Number 3235-0287
Form 5 obligations may continue. Expires: December 31, 2001
See Instruction 1(b). Estimated average burden
hours per response..........0.5
(Print or Type Responses)
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1. Name and Address of Reporting 2. Issuer Name and Ticker or Trading Symbol
Person*
Latin American Casinos, Inc. (LACI)
Augustine Fune, LP (Nasdaq National Market)
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(Last) (First) (Middle) 3. IRS or Social 4. Statement for
Security Month/Year
Number of Reporting
141 W. Jackson, Suite 2182 Person (Voluntary) December 2000
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(Street)
Chicago, IL 60604
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(City) (State) (Zip)
5. If Amendment,
Date of Original
(Month/Year)
6. Relationship of 7. Individual or Joint/Group
Reporting Person to Issuer Filing (Check Applicable Line)
(Check all applicable)
___ Form filed by One
Reporting Person
___ Director _X_ 10% Owner _X_ Form filed by More than
___ Officer (give ___ Other (specify One Reporting Person
title below)
below)
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<TABLE>
<CAPTION>
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 5. Amount of 6. Ownership 7. Nature of
Instr. 3) action action (A) or Disposed of Securities Form: Indirect
Date Code (D) (Instr. 3, 4 Beneficially Direct (D) Beneficial
(Month/ (Instr. 8) and 5) Owned at End or Indirect Ownership
Day/ ------------------------------------ of Month (I) (Instr. 4)
Year) (A) or (Instr. 3 and (Instr. 4)
Code V Amount (D) Price 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 12/07/00 X 325,000 A $1.25 325,000 D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
(Over)
SEC 1474 (3-99)
</TABLE>
<PAGE>
<TABLE>
Form 4 (continued) Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<CAPTION>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exercisable 7. Title and Amount
Security sion or action action Derivative and Expiration of Underlying
(Instr. 3) Exercise Date Code Securities Date (Month/Day/ Securities
Price of (Month/ (Instr. Acquired (A) Year) (Instr. 3 and 4)
Deri- Day/ 8) or Disposed ------------------------------------------
vative Year) of (D) Date Expira- Title Amount or
Security (Instr. 3, 4 Exer- tion Number of
and 5) cisable Date Shares
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option to Buy Common Stock $1.75 12/7/00 X 325,000 Immed. Common Stock 325,000
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6% Convertible Debentures $1.75 12/14/00 P $800,000 Immed. 6/13/01 Common Stock 457,143
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6% Convertible Debentures $1.75 12/14/00 P $500,000 Immed. 6/13/01 Common Stock 285,174
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6% Convertible Debentures $1.75 12/14/00 P $50,000 Immed. 6/13/01 Common Stock 28,517
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Warrant to Buy Common Stock $1.75 12/14/00 P 1,500,000 Immed. Common Stock 1,500,000
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Warrant to Buy Common Stock $1.75 12/12/00 P 45,000 Immed. Common Stock 45,000
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<CAPTION>
8. Price 9. Number 10. Ownership 11. Nature
of of Deriv- Form of of
Deriv- ative Derivative Indirect
ative Secu- Security; Bene-
Secu- rities Direct (D) ficial
rity Bene- or Indirect Own-
(Instr. ficially (I) ership
5) Owned (Instr. 4) (Instr. 4)
at End
of Month
(Instr. 4)
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<C> <C> <C> <C>
0 D
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$800,000 457,143 D
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$500,000 285,174 D(1)
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$50,000 28,517 D(2)
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(5) 1,500,000 D(3)
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(6) 45,000 D(4)
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Explanation of Responses:
(1) Beneficially owned solely by Brian Porter.
(2) Beneficially owned solely by David M. Matteson.
(3) Beneficially owned by all joint filers, through certain trusts controlled
by them.
(4) Beneficially owned solely by David M. Matteson.
(5) Received by a related party to the joint filers from the Issuer in exchange
for services rendered.
(6) Received by David M. Matteson from the Issuer in exchange for services
rendered.
</TABLE>
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Augustine Fund, LP
by Augustine Capital Management, LLC, general partner
by John T. Porter, President
/s/ John Porter January 12, 2001
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** 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
<PAGE>
FORM 4 (CONTINUED) Additional Reporting Persons
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Additional Reporting Person and Address:
Each of the following additional filers is a general partner, officer or
director of Augustine Fund, L.P., and may be deemed to have a pecuniary interest
in the shares of Common Stock and the Debentures and Warrants beneficially owned
by Augustine Fund, L.P.
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Augustine Capital Management, LLC
141 W. Jackson, Suite 2182
Chicago, IL 60604
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John T. Porter
141 W. Jackson, Suite 2182
Chicago, IL 60604
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Brian D. Porter
141 W. Jackson, Suite 2182
Chicago, IL 60604
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Thomas Duszynski
141 W. Jackson, Suite 2182
Chicago, IL 60604
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David R. Asplund
141 W. Jackson, Suite 2182
Chicago, IL 60604
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David M. Matteson
141 W. Jackson, Suite 2182
Chicago, IL 60604
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Signatures of Additional Reporting Persons:
Dated January 12, 2001
AUGUSTINE CAPITAL MANAGEMENT, LLC
/s/ John T. Porter
John T. Porter, President of general partner
/s/ John T. Porter
John T. Porter
/s/ Brian D. Porter
Brian D. Porter
/s/ Thomas Duszynski
Thomas Duszynski
/s/ David R. Asplund
David R. Asplund
/s/ David M. Matteson
David M. Matteson
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.
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