Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 4 U.S. Technologies, Inc. / Usv Partners, LLC 2 20K
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FORM 4
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
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| 1. Name and Address of Reporting Person(1) | 2. Issuer Name and Ticker or Trading Symbol |6. Relationship of Reporting Person to|
| USV Partners, LLC | U.S. Technologies, Inc. (USXX) | Issuer (Check all applicable) |
|--------------------------------------------|----------------------------------------------| |
| (Last) (First) (Middle) | 3. IRS or Social | 4. Statement For | [X] Director [X] 10% Owner |
| | Security Number of | Month/Year | [X] Officer (give [ ] Other (Specify|
| | Reporting Person, if | | title below) |
| | an Entity (Voluntary)| May, 1999 | below) |
| 2001 Pennsylvania Avenue, N.W. | | | |
|--------------------------------------------| |--------------------|--------------------------------------|
| (Street) | | 5. If Amendment, |7. Individual or Joint/Group Filing |
| | | Date of Original| (Check applicable line) |
| | | (Month/Year) | [ ] Form Filed by One |
| Washington D.C. 20006 | | | Reporting Person |
|--------------------------------------------|----------------------------------------------| [X] Form Filed by More Than |
| (City) (State) (Zip) | | One Reporting Person |
| | | |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
|1. Title of Security |2. Transaction |3. Transac- |4. Securities Acquired (A) | 5. Amount of Se- |6. Owner- |7. Nature |
| (Instr. 3) | Date | tion Code | or Disposed of (D) | curities Benefi-| ship | of In- |
| | (Month/Day/ | (Instr. 8) | | cially Owned at | Form: | direct |
| | Year) | | | End of Month | Direct | Benefi-|
| | | | (Instr. 3, 4 and 5) | (Instr. 3 and 4)| (D) or | cial |
| | |--------------|---------------------------| | Indirect | Owner- |
| | | Code | V | Amount | (A) or| Price| | (I) | ship |
| | | | | | (D) | | | (Instr. 4)| (Instr.|
| | | | | | | | | | 4) |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
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|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
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|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
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|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
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|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
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|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
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|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
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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. 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 | Expiration | Securities | Deriv- |
| | Price of | (Month/| (Instr.| Acquired (A) | Date | (Instr. 3 and 4) | ative |
| | Deriv- | Day/ | 8) | or Disposed | (Month/Day/ | | Secur- |
| | ative | Year) | | or (D) | Year) | | ity |
| | Security | | | (Instr. 3, | | | (Instr. 5)|
| | | | | 4, and 5) |-----------------|--------------------| |
| | | | | | Date |Expira- | | Amount or| |
| | | |----------|----------------| Exer- |tion | Title | Number of| |
| | | | Code| V | (A) | (D) | cisable|Date | | Shares | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | Common | | |
|Series A Preferred Stock (1) | 5/11/99 | P | |500,000| | Immed. | 1/12/04| Stock | (1) | (2) |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | Common | | |
|Stock Purchase Warrants| $1.00 | 5/11/99 | P | |500,000| | Immed. | 1/12/04| Stock | 500,000 | (2) |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
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|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
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| 9. Number of | 10. Ownership | 11. Nature of |
| Derivative | Form of | Indirect |
| Securities | Derivative | Beneficial |
| Beneficially | Security: | Ownership |
| Owned at End | Direct (D) | (Instr. 4) |
| of Month | or Indirect (I) | |
| (Instr. 4) | (Instr. 4) | |
| | | |
|---------------------|-------------------------------|----------------------|
| 500,000 | (3) | (3) |
|---------------------|-------------------------------|----------------------|
| 500,000 | (3) | (3) |
|---------------------|-------------------------------|----------------------|
| | | |
|---------------------|-------------------------------|----------------------|
| | | |
|---------------------|-------------------------------|----------------------|
| | | |
|---------------------|-------------------------------|----------------------|
| | | |
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Explanation of Responses:
(1) Each share of Series A Preferred Stock is convertible, at the option of the holder, into the number of shares of the Company's
Common Stock equal to $10 divided by the Conversion Price, which is defined as the average last sale price, per share, of the
Company's Common Stock for the 20 trading days immediately prior to February 24, 1999, as such last sale price is reported in the
principal consolidated transaction reporting system of the OTC Bulletin Board.
(2) USV Partners, LLC paid an aggregate purchase price of $5,000,000 for the 500 Warrants and the 500,000 shares of the Series A
Preferred Stock.
(3) These securities are owned directly by USV Partners, LLC, a 10% owner of the Issuer, and indirectly by C. Gregory Earls as the
sole member of USV Management, LLC, the manager of USV Partners, LLC. Mr. Earls is a director and the President and Chief Executive
Officer of the Issuer.
** Intentional misstatements or omissions of facts constitute Federal Criminal /s/ C. Gregory Earls June 9, 1999
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). -------------------------------- ------------
**Signature of Reporting Person Date
by C. Gregory Earls, sole
Note. File three copies of this form, one of which must be manually signed. member of USV Management, LLC,
If space provided is insufficient, see Instruction 6 for procedure. Manager of USV Partners, LLC Page 2
(Print or Type Responses)
Joint Filer Information
Name: Gregory Earls
Address: 2001 Pennsylvania Avenue, N.W.
Washington, D.C. 20006
Designated Filer: USV Partners, LLC
Signature: /c/ C. Gregory Earls June 9, 1999
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C. Gregory Earls Date
Dates Referenced Herein
| Referenced-On Page |
|---|
| This ‘4’ Filing | | Date | | First | | Last | | | Other Filings |
|---|
| |  |
| Filed on: | | 6/10/99 | | | | | | | None on these Dates |
| | 6/9/99 | | 2 |
| For Period end: | | 5/31/99 |
| | 2/24/99 | | 2 |
| List all Filings |
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