- -------------------------
FORM 4
__ Check this box if no
longer subject to
Section 16. Form 4
or Form 5 obligations
may continue. See
Instruction 1(b).
- -------------------------
UNITED STATES 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.
- -------------------------------------
OMB Approval
- -------------------------------------
OMB Number: 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response....0.5
- -------------------------------------
<TABLE>
<CAPTION>
- --------------------------------------------------- ------------------------------------------------------ -------------------------
1. Name and Address of 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s) to Issuer
or Perporting Person* (Check all applicable)
__ Director X 10% Owner
__ Officer (give title below) __ Other (specify below)
Chief Executive Officer & President
General Atlantic Corporation Solo Serve Corporation
- ------------------------------------------------------------------------------------------------------------------------------------
(Last) (First) (Middle) 3. IRS or Social 4. Statement for 7. Individual or Joint/Group Reporting
Security Number of Month/Year (check applicable line)
Reporting Person X Form Filed by One Reporting Person
(Voluntary) October 1997 __ Form Filed by More than One Reporting
Person
950 Third Avenue
- ------------------------------------------- ------------------
(Street) 5. If Amendment,
Date of Original
(Month/Year)
New Yorik NY 10022
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip) Table 1 -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------ ------------- ----------------- ---------------------------------------------------------
1. Title of Security 2. Trans- 3. Transaction 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action Code (Instr. or Disposed of (D) Securities Form: Indirect
Date 8) (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
(Month/ Owned at End or Indirect Ownership
Day/ of Month (I) (Instr. 4)
Year) (Instr. 3 and (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
Code V Amount (A) or (D) Price
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 10/2/97 S 1,255,000 C $.10(1) 1,388,889(2) D
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
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).
</TABLE>
<PAGE>
<TABLE>
FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date 7. Title 8. Price 9. Number 10. Owner- 11. Nature of
of sion or action action Derivative Exer- and of of ship Indirect
Deri- Exercise Date Code Securities cisable Amount Deri- deri- Form Beneficial
vative Price of (Instr. Acquired (A) and Expi- of vative vative of Deri- Ownership
Secu- Deri- (Month/ 8) or Disposed ration Under- Secu- Secu- vative (Instr. 4)
rity vative Day/ of (D) Date Lying rity rities Security
(Instr. Security Year) (Instr. 3, (Month/ Securi- (Instr. Benefi- Direct
3) 4, and 5) Day/ ties 5) cially (D) or
Year) (Instr. Owned Indirect
3 and4) at End (I)
of (Instr.
Month 4)
(Instr.
4)
----------------------------------------------------------
Code V (A) (D) Date Expir- Title Amount
Exerci- ation or of
sable Date Number
of
Shares
----------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:
(1) The purchase price was paid by a promissory note from purchaser to General Atlantic Corporation payable in five equal annual
installments with interest at the fixed rate of 7%
(2) Consists of shares of Preferred Stock convertible into shares of Common Stock.
** Intentional misstatements or omissions of /s/ General Atlantic Corporation November 6, 1997
facts constitute Federal Criminal -------------------------------------------- ------------------------------
Violations ** Signature of Reporting Person Date
See 18 U.S.C. and 15 U.S.C. 78ff(a). By: Name: Julie Lefkowitz
Title: Vice President and Secretary
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 form
displays a currently valid OMB number.
</TABLE>
