FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
NORTHGATE INNOVATIONS INC [ NGTE ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 12/09/2003 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 12/09/2003 | P | 11,600,000 | A | $0.25 | 11,600,000 | I | See Footnotes(1)(5)(6) |
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 Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Common Stock Warrants | $0.5 | 12/09/2003 | A | 2,500,000 | (2) | 12/09/2008 | Common Stock | 2,500,000 | (3) | 2,500,000 | D | See Footnotes(4)(5)(6) |
Explanation of Responses: |
1. These shares of the Issuer's common stock, $.03 par value per share ("Shares"), are held for the account of Glenbrook Group, LLC, a Delaware limited liability company ("Glenbrook Group"). The Reporting Person is a controlling member of Glenbrook Group and has investment power over the portfolio shares held for the account of Glenbrook Group. The managing members of the Reporting Person are Samuel J. Furrow, Jr. and Marc Barry Crossman. |
2. These warrants to acquire Shares are immediately exercisable upon receipt. These warrants will be issued to the Reporting Person in three monthly installments: (i) warrants to acquire 833,333 Shares were issued to the Reporting Person on December 9, 2003; (ii) warrants to acquire 833,333 Shares will be issued to the Reporting Person on January 9, 2004; and (iii) warrants to acquire 833,334 Shares will be issued to the Reporting Person on February 9, 2004. |
3. These warrants to acquire Shares were issued to the Reporting Person pursuant to a consulting agreement between the Issuer and the Reporting Person. |
4. These securities are held for the account of the Reporting Person. The managing members of the Reporting Person are Samuel J. Furrow, Jr., and Marc Barry Crossman. |
5. The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owners of any securities not held directly for their accounts for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Act"), or otherwise. |
6. The Reporting Person may be deemed to be a member of a "group" pursuant to Section 13(d) of the Act that, combined, has beneficial ownership of more than 10% of the Issuer's outstanding Shares. The filing of this statement shall not be deemed an admission that the Reporting Person is a member of any such "group" or that the Reporting Person is the beneficial owner of any Shares or other securities owned by any other person. |
Remarks: |
Samuel J. Furrow, Jr., as Managing Member of J & M Interests, LLC | 12/12/2003 | |
Marc Barry Crossman, as Managing Member of J & M Interests, LLC | 12/12/2003 | |
** Signature of Reporting Person | Date | |
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 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |