UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Sumichrast, Martin A.
6000 Fairview Road
Suite 1410
Charlotte, NC 28210
USA
2. Issuer Name and Ticker or Trading Symbol
Global Capital Partners, Inc.
GCAP
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
March 2000
5. If Amendment, Date of Original (Month/Year)
07/03/2000
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chairman, Chief Executive Officer and President
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value $0.|3/31/0|C | |600,000 |A |(1) | |I |(4) |
05 per share |0 | | | | | | | | |
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Common Stock, par value $0.|3/31/0|C | |210,000 |A |(2) | |I |(4) |
05 per share |0 | | | | | | | | |
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Common Stock, par value $0.|3/31/0|J | |70,000 |D |(3) |740,000 |I |(4) |
05 per share |0 | | | | | | | | |
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Common Stock, par value $0.|-- |-- | |-- |-- |-- |240,000 |D | |
05 per share | | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Call Option (Right to |(5) |3/31/|C | |900,000 |D |Immed|1/1/0|10% Converti|900,000|(5) |0 |I |(4) |
Buy) | |00 | | | | |. |5 |ble Preferre| | | | | |
| | | | | | | | |d Stock, Ser| | | | | |
| | | | | | | | |ies A | | | | | |
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10% Convertible Prefer|1:1 |3/31/|C | |900,000 |A |Immed|1/1/0|Common Stock|900,000|$2.063 |-- |I |(4) |
red Stock, Series A | |00 | | | | |. |5 |, $0.05 par | | | | | |
| | | | | | | | |value per sh| | | | | |
| | | | | | | | |are | | | | | |
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10% Convertible Prefer|1:1 |3/31/|C | |1,400,000 |D |Immed|1/1/0|Common Stock|1,400,0|(1) |-- |I |(4) |
red Stock, Series A | |00 | | | | |. |5 |, $0.05 par |00 | | | | |
| | | | | | | | |value per sh| | | | | |
| | | | | | | | |are | | | | | |
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10% Convertible Prefer|1:1 |3/31/|C | |600,000 |D |Immed|1/1/0|Common Stock|600,000|$2.063 |0 (1) |I |(4) |
red Stock, Series A | |00 | | | | |. |5 |, $0.05 par | | | | | |
| | | | | | | | |value per sh| | | | | |
| | | | | | | | |are | | | | | |
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Common Stock Purchase |$2.85 |3/31/|C | |210,000 |D |Immed|11/09|Common Stock|210,000|$2.85 |0 (2) |I |(4) |
Warrants (Right to Buy| |00 | | | | |. |/04 |, $0.05 par | | | | | |
) | | | | | | | | |value per sh| | | | | |
| | | | | | | | |are | | | | | |
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Convertible Note, due |.35:1 |3/31/|C | |$1,800,000 |D |Immed|12/31|10% Converti|630,000|(6) |0 (6) |I |(4) |
12/31/2004 | |00 | | | | |. |/04 |ble Preferre| | | | | |
| | | | | | | | |d Stock, Ser| | | | | |
| | | | | | | | |ies A | | | | | |
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Stock Options (Right t|$4.50 |-- |-- | | | |Immed|(7) |Common Stock|75,000 |(7) |75,000 |D | |
o Buy) | | | | | | |. | |, $0.05 par | | | | | |
| | | | | | | | |value per sh| | | | | |
| | | | | | | | |are | | | | | |
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Class C Common Stock P|$7.00 |-- |-- | | | |Immed|2/19/|Common Stock|150,000|$0.25 |150,000 |D | |
urchase Warrants (Righ| | | | | | |. |03 |, $0.05 par | | | | | |
t to Buy) | | | | | | | | |value per sh| | | | | |
| | | | | | | | |are | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Belle Holdings, Inc. ("Belle") acquired 900,000 shares of 10% Convertible
Preferred Stock, Series A ("Preferred Stock") on the exercise of an
option to purchase such shares from the issuer, acquired 600,000 shares of
common stock, par value $0.05 per share ("Common Stock"), of the
issuer upon conversion of 600,000 shares of Preferred Stock, convertible on a
1:1 basis, and transferred 1,400,000 shares of Preferred Stock to the
holder of notes, in aggregate principal amount of $4 million, upon their
conversion by the payee into shares of Preferred Stock on a .35:1 basis.
(2) Belle acquired 210,000 shares of Common Stock upon the exercise of 210,000
warrants to purchase Common Stock.
(3) The shares of Common Stock were transferred to the holders of the notes
(see note (1) above) in consideration of acceleration of conversion of
such notes and the exercise of certain warrants.
(4) The securities are owned by Belle, a corporation of which Mr. Sumichrast
is sole stockholder, director and officer.
(5) Belle converted the remaining unexercised portion of an option, received
in connection with Belle's purchase of 1 million shares of Preferred
Stock and other securities from the issuer, to purchase up to an additional 1
million shares of Preferred Stock.
(6) Belle sold the $1,800,000 convertible note, due December 31, 2004, upon
the exercise by the payee of the remaining portion of an option to
purchase up to an additional $2 million in convertible notes, due December 31,
2004.
(7) The options were granted on December 23, 1998 pursuant to an employee
stock option plan, vested on December 31, 1999 and expire ten years
from the date of
grant.
SIGNATURE OF REPORTING PERSON
/s/ Martin A. Sumichrast
DATE
July 31, 2000
