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)
APPIANT TECHNOLOGIES, INC. (APPS)
[f/k/a 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, 2001
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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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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 NO CHANGE FOR December, 2001 2,873,990 D
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650,113 I
By: Rosenthal Collins Group
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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.
(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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Warrants to $2.70 5/31/01 A 1,481,481 Immediate 3/21/08 Common 1,481,481 (1) 1,481,481 D
Purchase Common Stock
Stock
Convertible
Promissory Note (2) 6/8/01 A (1) 6/8/03 Common (2) $150,000 (2) D
Stock
Warrant to $2.64 6/8/01 A 56,818 Immediate 6/08/06 Common 56,818 (1) 56,818 D
Purchase Common Stock
Stock
Convertible (3) 10/31/01 A (3) (3) Common (3) $100,000 (3) D
Promissory Note Stock
Convertible (4) 11/28/01 A (4) 5/30/02 Common (4) $200,000 (4) D
Promissory Note Stock
Warrant to $1.35 11/28/01 A 150,000 Immediate 11/28/06 Common 150,000 (1) 150,000 D
Purchase Common Stock
Stock
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Explanation of Responses:
(1) Additional consideration for convertible promissory note.
(2) This note was a refunding of an earlier note of like tenor previously
reported, extending the maturity to June 8, 2003.
(3) The number of shares into which this note is convertible is at a rate of
90% of the exercise or conversion price applicable to any subsequent
financing secured by the Issuer, or, if no such financing is completed, at
90% of the closing price of the Issuer's common stock on the trading day
immediately preceding maturity. Maturity is the earlier of five business
days from receipt by the Issuer of certain accounts receivable or January
15, 2002. This Reporting Person is also to receive as additional
consideration, immediately exercisable warrants to purchase 59,524 shares
at $1.68 per share.
(4) The number of shares into which this note is convertible is at the rate of
90% of the closing price of the Issuer's common stock on the trading day
immediately preceding maturity (5/30/02).
/s/ L. T. Baldwin, III 1/15/01
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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.