UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3 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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(Print or Type Responses)
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<S> <C> <C>
1.Name and Address of 2. Date of Event Re- 4.Issuer Name AND Ticker or Trading Symbol
Reporting Person* quiring Statement
(Month/Day/Year) Bidhit.com, Inc. (BIDH)
Systemax Inc. --------------------------------------------------------------------------
- ------------------------- 5/12/00 5. Relationship of Reporting Person(s) 6. If Amendment, Date of
(Last) (First) (Middle) to Issuer (Check all applicable) Original (Month/Day/Year)
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22 Harbor Park Drive 3. IRS Identification __ Director X 10% Owner 7. Individual or Joint/Group Filing
- ------------------------ Number of __ Officer __ Other (Check Applicable Line)
(Street) Reporting Person, (give title (specify
if an enity below title below) _X_ Form filed by One
(Voluntary) Reporting Person
Chief Executive Officer ___ Form filed by More
Port Washington, NY 11050 than One Reporting Person
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(City) (State) (Zip)
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: Direct (D) 4. Nature(of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned or Indirect (I) (Instr. 5)
(Instr. 4) (Instr. 5)
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Common Stock 5,391,523 D
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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 5(b)(v).
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 CONTROL NUMBER.
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FORM 3 (CONTINUED) TABLE II-- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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<S> <C> <C> <C> <C> <C>
1. Title of Derivative 2. Date Exer- 3. Title and Amount of 4. Conver- 5.Owner- 6. Nature of Indirect Beneficial
Security (Instr. 4) cisable and Securities Underlying sion or ship Ownership (Instr. 5)
Expiration Derivative Security Exercise Form
Date (Instr. 4) Price of of
(Month/Day/Year) Deri- Deriv-
----------------------------------------- vative ative
Date Expira- Title Amount or Security Security:
Exer- tion Number of Direct
cisable Date Shares (D) or
Indirect (I)
(Instr. 5)
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$200,000 Convertible Note* 5/12/00 5/12/01 Common Stock 172,413 $1.16 D
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Explanation of Responses:
* On May 12, 2000 Systemax purchased at face value a one year $200,000 note issued by Bidhit, bearing interest
at 9% per annum non-compounded payable at maturity. The note is convertible at any time by Systemax into
common shares of Bidhit and such note must be converted into common shares upon the closing by Bidhit of a
financing in an amount of at least $2.8 million within six months of the closing. The conversion price is
$1.16 per share, subject to standard adjustments. Accordingly, as of the date of issuance, such note was
convertible into 172,413 shares, which amount will increase by approximately 42 1/2 shares per day with
respect to accrued interest. The note may be prepaid.
SYSTEMAX INC.
** Intentional misstatements or omissions of facts constitute Federal Criminal By: /s/ Curt Rush 5/22/00
Violations. --------------------------------- ----------
Name and Title: Curt Rush Date
Secretary
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ** Signature of Reporting Person
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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