X0202 4 2006-06-16 0 0000803260 DEFAULT PROOF CREDIT CARD SYSTEM INC /FL/ DPRS 0001138821 CUERVO VINCENT 1545 MILLER ROAD CORAL CABLES FL 33146 1 1 1 0 CEO Common Stock 2006-06-16 4 P 0 225000 0.15 A 1055791 D Common Stock 2006-05-30 4 S 0 2800 0.35 D 830791 I SPOUSE Stock Option 0.15 2006-06-16 4 M 0 225000 0.15 D 1999-02-11 2009-02-11 Common Shares 225000 455000 D Stock Option 1.85 2003-06-18 4 A 0 150000 1.85 A 2003-06-18 2013-06-18 Common Stock 150000 600000 D Stock Option 1 1999-02-11 4 A 0 300000 1 A 1999-02-11 2009-02-11 Common Stock 300000 300000 D On, 02/11/1999, the Company Default Credit Card System granted stock options to reporter in the amount of 225000 shares @ 0.15 shares, exercisable upon the issue and receipt of US patent No. 6,105,009 and for 10 years thereafter. The US Patent No. 6,105,009 was issued by the US Patent Office on August 15, 2000. Reporter elected to convert options shares in to common stock for a total aggregate price of $33,700. On 06/16/2003, the Company, Default Credit Card Systems, granted a stock option to the reporter in the amount of 150,000 common shares @ $1.85, exercisable upon patent application No. 10/342,991 receipt of the related US Patent and Trademark Office. If this application No. 10/342,991 is rejected by the US Patent Office and the US Patent not issued, the application will be considered abandoned and this stock option will automatically expire and void. As of this date, reporter has yet to hear from the US PATENT OFFICE issuance of the related patent. On 02/11/1999, the Company Default Credit Card System grant stock option to the reporter in the amount of 300,000 shares @ 1.00, exercisable upon the receipt of related patent for application No.9/207,854 from the US Patent Office. This stock option will expire and void if the US Patent and Trademark Office rejects application No. 9/207.854 and doesn't issue the related patent. Refer to Footnote # 1. Reporter has direct control of 864,129 shares and indirect control of 191,573 share held in his wife's name. Thus, total direct/indirect control of 1,055,791 shares. Refer to indirect sale on Form 4 filed 05/30/2006. Please refer to all the footnotes for clarification on this Form 4 file. /s/Vincent Cuervo 2006-06-21