OMB APPROVAL
OMB NUMBER 3235-0287
EXPIRES: JANUARY 31, 2005
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE 0.5
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
--------------------------------------------------------------------------------
1. Name and Address of Reporting Person
Tanen David M.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
95 Horatio Street, Apt. 410
--------------------------------------------------------------------------------
(Street)
New York NY 10014
--------------------------------------------------------------------------------
(City) (State) (Zip)
--------------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol
Manhattan Pharmaceuticals, Inc. (f/k/a Atlantic Technology Ventures) ATLC.OB
--------------------------------------------------------------------------------
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
--------------------------------------------------------------------------------
4. Statement for Month/Day/Year
February 2003
--------------------------------------------------------------------------------
5. If Amendment, Date of Original (Month/Day/Year)
February 2003
--------------------------------------------------------------------------------
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [ ] 10% Owner
[ ] Officer (give title below) [_] Other (specify below)
--------------------------------------------------------------------------------
7. Individual or Joint/Group Filing (Check applicable line)
[ ] Form filed by one Reporting Person
[X] Form filed by more than one Reporting Person
--------------------------------------------------------------------------------
================================================================================
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
================================================================================
5. 6.
4. Amount of Owner-
Securities Acquired (A) or Securities ship
2A. 3. Disposed of (D) Beneficially Form: 7.
2. Deemed Transaction (Instr. 3, 4 and 5) Owned Follow- Direct Nature of
Trans- Execution Code ------------------------------- ing Reported (D) or Indirect
1. action Date, (Instr. 8) (A) Transaction(s) Indirect Beneficial
Title of Security Date if any ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V (D) and 4) (Instr.4)(Instr. 4)
-----------------------------------------------------------------------------------------------------------------------------------
Common Stock 02/21/03 J/1/ 1,842,903 A - 1,842,903 D
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
===================================================================================================================================
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
9. 10.
Number Owner-
of ship
Deriv- Form
2. ative of
Conver- 5. 7. Secur- Deriv- 11.
sion Number of Title and Amount ities ative Nature
or 3A. Derivative 6. of Underlying 8. Bene- Secur- of
Exer- Deemed 4. Securities Date Securities Price ficially ity: In-
cise 3. Exe- Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Owned Direct direct
Price Trans- cution action or Disposed Expiration Date ---------------- Deriv- Following (D) or Bene-
1. of action Date, Code of(D) (Month/Day/Year) Amount ative Reported In- ficial
Title of Deriv- Date if any (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner-
Derivative ative (Month/ Month/ 8) 4 and 5) Date Expira- Number ity action (I) ship
Security Secur- Day/ Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr.(Instr.
(Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
-----------------------------------------------------------------------------------------------------------------------------------
Option $0.25 1/28/03 A 60,000 (2) 1/28/12 Common 21,666 N/A 60,000 D
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
===================================================================================================================================
Explanation of Responses:
1 On February 21, 2003, Atlantic Technology Ventures, Inc. completed a merger
with a private company, Manhattan Pharmaceuticals, Inc. pursuant to which,
Atlantic issued 12.70967 shares of its Common Stock for each one (1) share
of Manhattan Common Stock outstanding.
2 21,667 have vested. 21,667 vest if at all, on 1/28/04 and 1/28/05,
respectively and 2,500 will vest, if at all, on 1/28/06.
/S/ David M. Tanen April 7, 2003
---------------------------------------------- ----------------------
**Signature of Reporting Person Date
David M. Tanen
** 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.
2