U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
BALDWIN, III L. THOMAS
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(Last) (First) (Middle)
141 WEST JACKSON BOULEVARD, SUITE #2850
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(Street)
CHICAGO IL 60606
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(City) (State) (Zip)
NHANCEMENT TECHNOLOGIES, INC. (NHAN)
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2. Issuer Name and Ticker or Trading Symbol
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
DECEMBER, 2000
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4. Statement for Month/Year
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director * [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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* As of December 5, 2000.
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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COMMON STOCK, $.01 par value 12/26/00 S 1,000 D $4.1875
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COMMON STOCK, $.01 par value 12/26/00 S 700 D $4.125
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COMMON STOCK, $.01 par value 12/26/00 S 1,000 D $3.75
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COMMON STOCK, $.01 par value 12/26/00 S 6,500 D $3.6875 3,733,424 (1) D
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586,490 I
By: Rosenthal Collins Group, L.L.C.
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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(1) On December 26, 2000, 9,200 shares were sold by the brokerage
firm holding them "in street name" for the account of the
undersigned to cover a margin call before this reporting person
had the opportunity to meet such margin call. By reason of an
inadvertent typographical error, the total number of shares held
by this brokerage firm reported in all prior filings of the
undersigned was "9,400" instead of the actual "9,200" shares held
and sold as aforesaid.
(Print or Type Responses)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Series B Common
Preferred Stock (1) 10/31/00 P 35,000 (2) Stock 259,259(4) $100 35,000 D
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Common Stock Common
Warrants (3) $6 9/8/00 J 300,000 9/8/00 7/31/01 Stock 300,000 Services 300,000 D
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Explanation of Responses:
(1) Conversion price is the lesser of (i) $13.50 per share or (ii)
90% of the average closing bid prices for the 10 trading days
immediately preceding the date of conversion; provided, that such
converstion price shall not be less than $10.00.
(2) Immediately convertible at the election of the holder.
(3) Previously reported on Form 4 for September 2000 and
inadvertently omitted from Form 4 for October, 2000.
(4) Number of shares of common stock issuable at transaction date. At
December 31, 2000, had this reporting person elected conversion,
350,000 shares of common stock would have been issued. See Note
(1) above.
/s/ L. Thomas Baldwin III 1/10/01
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**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.