<PAGE> 1
- ------ -----------------------------
FORM 4 OMB APPROVAL
- ------ -----------------------------
/X/ Check box if no OMB Number: 3235-0287
longer subject to Expires: September 30, 1998
Section 16. Form 4 Estimated average burden
or Form 5 obligations hours per response 0.5
may continue. See -----------------------------
Instruction 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION
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
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
Entec Associates 7th Level, Inc. - SEVL Issuer (Check all applicable)
- --------------------------------------------- ---------------------------------------------- Director X 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
844 Moraga Drive Number of Reporting Month/Year Officer (give Other (Specify
- --------------------------------------------- Person (Voluntary) August 1997 ---- title --- below)
(Street) ------------------ below)
Los Angeles California 90049 5. If Amendment,
- --------------------------------------------- Date of Original --------------------------------
(City) (State) (Zip) (Month/Year)
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 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/13/96 G 105,300 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/13/96 G 50,000 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5/28/97 G V 100,000 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 8/27/97 G V 150,000 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 8/28/97 G V 350,000 D 1,316,658 D
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1474 (7/96)
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
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>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv-
Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative
Deriv- Day/ Disposed of (D) (Month/Day/ Secur-
ative Year) (Instr. 3, 4, Year) ity
Security and 5) (Instr. 5)
-----------------------------------
Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security Derivative Form of Indirect
(Instr. 3) Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. /s/ MICHAEL R. MILKEN 8/28/97
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------
Michael R. Milken Date
General Partner
**Signature of Reporting Person
Note. File three copies of this Form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure. SEC 1474 (7/96)
</TABLE>
