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
GENERAL ACCEPTANCE CORP /IN/ [ GACC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/09/2009 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) 04/03/2009 |
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 | ||||||
Preferred(1) | 04/03/2009 | 04/03/2009 | P | 1,000,000 | A | $0 | 1,000,000 | D | ||
Common(1)(2) | 04/03/2009 | 04/03/2009 | P | 5,000,000 | A | $0 | 5,000,000 | D |
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 |
Explanation of Responses: |
1. Establishment of the General Acceptance Corporation discriminatory share price, the reporting owner has determined to issue as previously filed, 1,000,000 shares preferred stock upon the completion of General Acceptance Corporation (GACC) corporate restructuring notwithstanding all like industry comparable share structures and share prices. |
2. Establishment of the General Acceptance Corporation discriminatory share price, the reporting owner has determined to issue as previously filed, 5,000,000 shares common stock upon the completion of General Acceptance Corporation (GACC) corporate restructuring notwithstanding all like industry comparable share structures and share prices. |
Remarks: |
All Common shares and Preferred shares if applicable currently outstanding listed as 6,022,000 common on OTC market Tier Pink Sheets under Ticker Symbol GACC As of September 30, 1999 notwithstanding Form 3 filed March 9, 2009 and subsequently Form 3A filed April 3, 2009, and Form 4 filed April 3, 2009 shall be transferred to majority holder and ownership listed with all Market Makers and Transfer Agents including proper book entry as permitted in the most current filing. As used herein, the term own includes legal ownership, but in all cases includes beneficial ownership more than 50% of whose equity interests are beneficially owned. According to Corporate Filings for file number 197902-408 and SEC filings, Control is deemed to exist as permitted under 13d-4 of SEC 34 I expressly declare that the current filing shall be construed as an admission that such person is for the purposes of Sections 13(d) or 13(g) the beneficial owner of any securities covered by the filings defined for these purposes. |
JayCee James | 04/03/2009 | |
** 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. |