X0101 3 2003-05-27 0 0000801558 CANNON EXPRESS INC AMEX:AB 0001237458 ARIZONA DIVERSIFIED EQUITY LLC 0 0 1 0 Common Stock 1934486 D Arizona Diversified Equity, LLC, a Nevada limited liability company ("Arizona Diversified Equity"), the Reporting Person, directly holds 1,934,486 shares of common stock, par value $0.01 per share (the "Common Stock") of Cannon Express, Inc., a Delaware corporation (the "Issuer"). Nevada Diversified Equity, LLC, a Nevada limited liability company ("Nevada Diversified Equity") is the sole managing member of Arizona Diversified Equity. American Building Management Corporation, a Nevada corporation ("American Building Management") is the sole managing member of Nevada Diversified Equity. John W. Pacheco ("Pacheco") is the sole shareholder, officer and director of American Building Management. The members of Arizona Diversified Equity are Nevada Diversified Equity, American Building Management, Arizona-Pacheco Family, LLC, a Nevada limited liability company ("Arizona-Pacheco"), Woodridge Villas Apartments/Las Vegas, LLC, a Nevada limited liability company ("Woodridge Villas Apartments"), Cheyenne Apartments/North Las Vegas, LLC, a Nevada limited liability company ("Cheyenne Apartments"), and Financial American Corporation ("Financial American"), a Nevada corporation (collectively, the "Arizona Diversified Members"). American Building Management is the sole managing member of each of Woodridge Villas Apartments and Cheyenne Apartments. Mr. Pacheco and Richard Kranicke are the members of Woodridge Villas Apartments and Cheyenne Apartments. Mr. Pacheco is the sole managing member of Arizona-Pacheco. The Bianca Montagnino Irrevocable Trust (the "Montagnino Trust") is the sole member of Arizona-Pacheco. Ms. Montagnino is the mother of Mr. Pacheco. Phillip C. Gans, Esq. is the trustee of the Montagnino Trust and has sole and exclusive investment control with respect to transactions involving assets of the Montagnino Trust. Chem-Tech Industries, Inc., a Washington corporation ("Chem-Tech") is the sole shareholder of Financial American. Mr. Pacheco is the sole officer and director of each of Chem-Tech and Financial American. The Montagnino Trust is the sole shareholder of Chem-Tech. Mr. Pacheco is also a director and the Chief Executive Officer of the Issuer. Pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Arizona Diversified Members and Mr. Pacheco may be deemed to beneficially own all of the securities disclosed on this Form 3. Pursuant to Rule 16a-1(a)(2)(ii) of the Exchange Act, each of Mr. Pacheco, the Montagnino Trust, Mr. Kranicke and Chem-Tech may be deemed to be the beneficial owner of the reported shares beneficially owned by the Arizona Diversified Members, but only to the extent of their respective pecuniary interests therein. Pursuant to Rule 16a-1(a)(4) of the Exchange Act, this filing shall not be deemed an admission that any of Mr. Pacheco, the Montagnino Trust, Mr. Kranicke and Chem-Tech is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any reported securities beneficially owned by the Arizona Diversified Members, except to the extent of their respective pecuniary interests therein. John W. Pacheco 2003-06-06