3/A 1 0001.txt AMENDMENT NO. 1 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 3/A Amendment No. 1 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 ________________________________________________________________________________ 1. Name and Address of Reporting Person* McCullough James R. -------------------------------------------------------------------------------- (Last) (First) (Middle) c/o Coyote Network Systems, Inc. 1640 S. Sepulveda Boulevard, Suite 320 -------------------------------------------------------------------------------- (Street) Los Angeles, CA 90025 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Date of Event Requiring Statement (Month/Day/Year) January 26, 2000 ________________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ________________________________________________________________________________ 4. Issuer Name and Ticker or Trading Symbol Coyote Network Systems, Inc. (CYOE) ________________________________________________________________________________ 5. Relationship of Reporting Person to Issuer (Check all applicable) [X] Director [_] 10% Owner [X] Officer (give title below) [_] Other (specify below) Chief Executive Officer ________________________________________________________________________________ 6. If Amendment, Date of Original (Month/Day/Year) January 26, 2000 ________________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [X] Form Filed by One Reporting Person [_] Form Filed by More than One Reporting Person ================================================================================ Table I -- Non-Derivative Securities Beneficially Owned ================================================================================
3. Ownership Form: 2. Amount of Securities Direct (D) or 1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership (Instr. 4) (Instr. 4) (Instr. 5) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 500 (1) D ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
* If the Form is filed by more than one Reporting Person, see Instruction 5(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over) (Form 3-07/99) Page 1 of 2 FORM 3 (continued) Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
5. Owner- 3. Title and Amount of Securities ship Underlying Derivative Security Form of 2. Date Exercisable (Instr. 4) Derivative and Expiration Date --------------------------------- 4. Conver- Security: (Month/Day/Year) Amount sion or Direct 6. Nature of ---------------------- or Exercise (D) or Indirect Date Expira- Number Price of Indirect Beneficial 1. Title of Derivative Exer- tion of Derivative (I) Ownership Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5) ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option (right to buy) (2) 01/14/06 Common Stock 750,000 $5.00 D ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: (1) This Amendment No. 1 is being filed to correct the original Form 3 filed on February 7, 2000, which reported that Mr. McCullough benefically owned 2,000,000 shares, because of his one-third membership interest in KRJ, LLC which directly owns the reported securities. Because Mr. McCullough did and does not have a controlling interest in KRJ, LLC and did and does not have investment power over these shares, pursuant to Rule 16a-1(a)(2)(iii), Mr. McCullough did and does not benefically own these shares. (2) Pursuant to an employment agreement dated January 26, 2000, the reporting person received options to purchase 750,000 shares of the Company's common stock (the "Options") at $5.00 per share. Of such Options, 300,000 are currently vested with the remaining Options vesting over three years, beginning on January 14, 2001, subject to acceleration if certain common stock price targets are met and sustained. /s/ James R. McCullough July 18, 2000 --------------------------------------------- ----------------------- **Signature of Reporting Person Date ** 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 provided is insufficient, see Instruction 6 for procedure. Page 2 of 2