SC 13G/A 1 ibizcel2.txt IBZT CELESTE ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* iBIZ Technology Corp. -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $.001 PAR VALUE -------------------------------------------------------------------------------- (Title of Class of Securities) 45103B205 -------------------------------------------------------------------------------- (CUSIP Number) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on following page(s)) ================================================================================ Page 1 of 4 Pages ----------------------------- ------------------------------ CUSIP No. 45103B205 13G/A Page 2 of 4 Pages ----------------------------- ------------------------------ -------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Celeste Trust Reg. -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_| (b) |_| -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Liechtenstein -------------------------------------------------------------------------------- 5. SOLE VOTING POWER NUMBER OF 21,225,879 shares of Common Stock SHARES -------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY None EACH -------------------------------------------------------- REPORTING 7. SOLE DISPOSITIVE POWER PERSON WITH 21,225,879 shares of Common Stock -------------------------------------------------------- 8. SHARED DISPOSITIVE POWER None -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,225,879 shares of Common Stock -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |X| The aggregate amount in Row 9 represents the maximum amount of shares that Celeste Trust Reg. can beneficially control under a contractually stipulated 9.9% ownership restriction. The full conversion of Celeste Trust's 8% Convertible Note would exceed this restriction. -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 9.9% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON CO ------------------------------------------------------------------------------- CUSIP NO. 45103B205 PAGE 3 OF 4 PAGES --- --- ITEM 1 (a) NAME OF ISSUER: iBIZ Technology Corp. ITEM 1 (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 1919 West Lone Cactus Drive, Phoenix, AZ 85201 ITEM 2 (a) NAME OF PERSON FILING: Celeste Trust Reg. ITEM 2 (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: Trevisa-Treuhand-Anstalt, Landstrasse 8, 9496 Furstentums, Balzers, Liechtenstein ITEM 2 (c) CITIZENSHIP: Liechtenstein ITEM 2 (d) TITLE OF CLASS OF SECURITIES: Common Stock, $.001 par value ITEM 2 (e) CUSIP NUMBER: 45103B205 ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B) OR 13D-2(B): Not applicable ITEM 4 OWNERSHIP (a) AMOUNT BENEFICIALLY OWNED: 21,225,879 Shares of Common Stock (b) PERCENT OF CLASS: 9.9% (c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS: (i) SOLE POWER TO VOTE OR DIRECT THE VOTE 21,225,879 Shares (ii) SHARED POWER TO VOTE OR DIRECT THE VOTE 0 Shares (iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF 21,225,879 Shares (iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF 0 Shares CUSIP NO. 45103B205 PAGE 4 OF 4 PAGES --- --- ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not applicable ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON Not applicable ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP Not applicable ITEM 9 NOTICE OF DISSOLUTION OF GROUP Not applicable SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. January 31, 2003 ---------------------------------------- (Date) /s/ Thomas Hackl ---------------------------------------- (Signature) Thomas Hackl, Representative ---------------------------------------- (Name/Title)