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OMB APPROVAL
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- -------- OMB Number: 3235-0104
FORM 3 Expires: December 31, 2001
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hours per response.... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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<S> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
Statement Trading Symbol of Original
(Month/Day/Year) Valuestar Corporation (Month/Day/Year)
Holland Jeffrey J. ------------------------------------ April 3, 2000
- ---------------------------------------- April 5, 2000 5. Relationship of Reporting -----------------------
(Last) (First) (Middle) ---------------------------- Person(s) to Issuer 7. Individual or Joint/
One Sansome Street 3. I.R.S. Identification (Check all applicable) Group Filing (Check
Suite 2100 Number of Reporting Director X 10% Owner Applicable Line)
- ---------------------------------------- Person, if an entity ----- ----- X Form filed by
(Street) (voluntary) Officer Other (specify --- One Reporting
----- ----- below) Person
San Francisco CA 94104 ---------------------------- (give title below) Form filed by
- -------------------------------------- --- More than One
(City) (State) (Zip) ------------------------------ Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
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Common Stock 1,370,868 I See Annex A(1)
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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 5(b)(v). SEC 1473 (3-99)
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTIONS 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 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deri- ative
vative Security:
Security Direct
------------------------------------------------- (D) or
Date Expira- Amount or Indirect (I)
Exercis- tion Title Number (Instr. 5)
able Date of Shares
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Warrants April 4, April 4,
2000 2003 Common Stock 11,284 $5.85 I See Annex A(1)
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Series A July 22,
Convertible Preferred 1999 None Common Stock 500,000 $2.00 I See Annex A(1)
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Series B Dec. 8,
Convertible 1999 None Common Stock 501,290 $1.75 I See Annex A(1)
Preferred
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Explanation of Responses:
See Annex A
/s/ Jeffrey J. Holland/ April 17, 2000
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**Signature of Reporting Person Date
* If the form is filed by more than one reporting person, see
Instruction 5(b)(v).
**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. Page 2
If space is insufficient, See Instruction 6 for procedure. SEC 1473 (3-99)
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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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ANNEX A
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<S> <C> <C>
1. Name and Address of 2. Date of Event 3. Issuer Name and
Reporting Person Requiring Statement Tickler or Trading
Month/Day/Year Symbol
Holland, Jeffrey J. April 5, 2000 Valuestar Corporation
One Sansome Street,
Suite 2100
San Francisco, CA 94104
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(1) Mr. Holland is a managing member of Seacoast I Advisors, LLC which is the
general partner of Seacoast Capital Partners Limited Partnership which directly
owns the indicated securities. As a result, Mr. Holland may be deemed to have
indirect beneficial ownership of such securities.
