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------ -----------------------------
FORM 4 OMB APPROVAL
------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
[ ] CHECK THIS BOX IF NO LONGER WASHINGTON, D.C. 20549 OMB Number 3235-0287
SUBJECT TO SECTION 16. FORM Expires: September 30, 1998
4 OR FORM 5 OBLIGATIONS MAY STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Estimated average burden
CONTINUE. hours per response...... 0.5
-----------------------------
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
(Print or Type Responses)
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1. Name and Address of Reporting | 2. Issuer Name and Ticker or Trading Symbol | 6. Relationship of Reporting Person(s)
Person* | | to Issuer (Check all applicable)
| |
Miller, III Lloyd I | DualStar Technologies Corporation (DSTR) |
-------------------------------------------------------------------------------------------| _____ Director __X__ 10% Owner
(Last) (First) (Middle) | 3. IRS or Social | 4. Statement for | _____ Officer _____ Other
| Security Number | Month/Year | (give (specify
4550 Gordon Drive | of Reporting | | title below) below)
------------------------------------| Person (Voluntary) | December, 2000 | ________________________________
(Street) | |-------------------------|----------------------------------------
| | 5. If Amendment, |7. Individual or Joint/Group Filing
| ###-##-#### | Date of Original | (Check Applicable Line)
| | (Month/Year) |
| | |_X_ Form filed by One Reporting Person
| | |___ Form filed by More than One
Naples FL 34102 | | | Reporting Person
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(City) (State) (Zip) | TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF OR BENEFICIALLY OWNED
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1. Title of Security | 2. Transaction|3. Transaction |4. Securities Acquired |5. Amount of |6. Owner- |7. Nature
(Instr. 3) | Date | Code | (A) or Disposed of (D)| Securities | ship | of
| | (Instr. 8) | (Instr. 3, 4 and 5) | Beneficially| Form: | Indirect
| | | | Owned at End| Direct | Bene-
| |---------------|-------------------------| of Month | (D) or | ficial
| (Month/ | | | | | | (Instr. 3 | Indirect| Owner-
| Day/ | | | | (A) | | and 4) | (I) | ship
| Year) | | | | or | | | (Instr. | (Instr.
| | Code | V | Amount | (D) | Price | | 4) | 4)
------------------------------------|---------------|-------|-------|---------|------|--------|---------------|-----------|---------
Common Stock | 7/7/99 |C(1) | |1,791,000|A |$1.40 |1,791,000(2) | I |As a
| | | | | | | | |member
| | | | | | | | |of
| | | | | | | | |Tech-
| | | | | | | | |nology
| | | | | | | | |Investors
| | | | | | | | |Group,
| | | | | | | | |LLC
| | | | | | | | |("TIG")
------------------------------------|---------------|-------|-------|---------|------|--------|---------------|-----------|---------
| | | | | | | | |
------------------------------------|---------------|-------|-------|---------|------|--------|---------------|-----------|---------
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NYC:81435.1 Page 1 of 3
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FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative |2. Conversion |3. Transaction|4. Trans- |5. Number of |6. Date Exer- |7. Title and Amount
Security (Instr. 3) | or Exercise| Date | action | Derivative | cisable and | of Underlying
| Price of | | Code | Securities | Expiration Date| Securities
| Derivative | (Month/Day/| (Instr. 8)| Acquired | (Month/Day/ | (Instr. 3 and 4)
| Security | Year) | | (A) or | Year) |
| | | | Disposed of (D)|--------------------------------------
| | | | (Instr. 3, 4, | Date | Expir- | | Amount or
| | | | and 5) | Exer- | ation | Title | Number of
| | | | | cisable | Date | | Shares
| | |-------------|------------------| | | |
| | | Code| V | (A) | (D) | | | |
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$2,500,000 Principal Amount, |$1.40 | 7/7/99 | C(1)| | |$2,500,000| Immed. |5/25/01 | Common |1,791,000
7.5% Non-Negotiable, Non- | | | | | | | | | Stock |
Transferable, Subordinated, | | | | | | | | | |
Convertible Note | | | | | | | | | |
------------------------------|--------------|--------------|-----|-------|-------|----------|---------|--------|--------|----------
Warrants |$4.00 | 12/18/00 | J(3)| |175,000| | Immed. |12/31/07| Common | 175,000
(right to buy) | | | | |(4) | | | | Stock |
| | | | | | | | | |
------------------------------|--------------|--------------|-----|-------|-------|----------|---------|--------|--------|----------
-------------------------------------------------------------------|
8. Price of |9. Number of | 10. Ownership |11. Nature of |
Derivative | Derivative | Form of | Indirect |
Security | Securities | Derivative | Beneficial |
(Instr. 5) | Beneficially | Security; | Ownership |
| Owned at End | Direct (D) or | (Instr. 4) |
| of Month | Indirect (I) | |
| (Instr. 4) | (Instr. 4) | |
-------------------------------------------------------------------|
| -0- | I | As a |
| | | member of |
| | | TIG |
| | | |
--------------|----------------|-------------------|---------------|
| 175,000(2) | I | As a |
| | | member of |
| | | TIG |
--------------|----------------|-------------------|---------------|
Explanation of Responses:
(1)(2)(3)(4) see attached page 3 /s/ Lloyd I. Miller III 1/10/01
** Intentional misstatements or omissions of facts ------------------------------------ -----------------
constitute Federal Criminal Violations. **Signature of Reporting Person Date
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. If space 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.
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NYC:81435.1 Page 2 of 3
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ATTACHMENT TO FORM 4
Reporting Person: Lloyd I. Miller, III
Statement for Month/Year: December, 2000
Issuer: DualStar Technologies Corporation (DSTR)
(1) In accordance with the terms of Section 6 of the note, on July 7, 1999, the
Company exercised its right to require TIG to convert the note into 1,791,000
shares of the Company's common stock.
(2) The Reporting Person is a member of TIG and as such any may be deemed an
indirect beneficial owner of the reported securities. The Reporting Person
disclaims beneficial ownership of these securities, and this report shall not
be deemed an admission that the Reporting Person is the beneficial owner of
such securities for the purposes of Section 16 or for any other purpose, except
to the extent of his pecuniary interest therein.
(3) This reported transaction consists of the transfer by DSTR Warrant Co., LLC
("DSTRW") to TIG pursuant to a participation agreement entered into on December
18, 2000, of an undivided participating interest in 5.6% of the warrants to
purchase the 3,125,000 shares of the Common Stock of DualStar held by DSTRW.
Pursuant to such participation agreement, DSTRW retained all voting and
investment control with respect to the warrants and the shares of the Common
Stock underlying the warrants.
(4) The securities reported herein consist, in part, of warrants to purchase
shares of the Common Stock, par value $.01 per share (the "Common Stock"), of
DualStar Technologies Corporation ("DualStar"), which are held by DSTRW. The
Reporting Person has no voting or investment control of any of the securities
of DualStar held by DSTRW. The number of warrants reported herein is subject to
reduction in part, or termination in full, in certain events.
