X0201 3 2003-04-04 0 0000799097 SAN HOLDINGS INC SANZ 0001251669 PHELAN MICHAEL J C/O SAN HOLDINGS, INC. 900 W. CASTLETON RD. CASTLE ROCK CO 80109 0 1 0 0 PRESIDENT AND COO COMMON STOCK 500000 D SERIES B CONVERTIBLE PREFERRED STOCK 0 COMMON STOCK 935091 D Owned jointly with spouse. Each share of Series B Convertible Preferred Stock will be automatically converted into fully-paid and nonassessable shares of Common Stock immediately upon the effectiveness of an amendment to the Issuer's Articles of Incorporation increasing the authorized number of shares of Common Stock to a number sufficient to provide for the conversion of all of the then issued and outstanding shares of Series B Convertible Preferred Stock. MICHAEL J. PHELAN 2004-02-06