------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0362
Expires: January 31, 2005
Estimated average burden
hours per response.........1.0
------------------------------
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 5
ANNUAL 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(h) 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).
|X| Form 3 Holdings Reported
|X| Form 4 Transactions Reported
________________________________________________________________________________
1. Name and Address of Reporting Person*
Epstein Richard
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
- --------------------------------------------------------------------------------
(Street)
- --------------------------------------------------------------------------------
(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
eConnect (ECNT)
________________________________________________________________________________
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
12/31/02
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|_| Director |X| 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 Direct Nature of
Trans- Execution Code ------------------------------- at the End (D) or Indirect
1. action Date, if (Instr. 8) (A) of Issuer's Indirect Beneficial
Title of Security Date any ------------ or Fiscal Year (I) Ownership
(Instr. 3) (mm/dd/yy) (mm/dd/yy) Amount (D) Price (Instr. 3 & 4) (Instr.4) (Instr.4)
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/2/02 S 651,000 D .0357 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/4/02 S 966,000 D .0400 D
- -----------------------------------------------------------------------------------------------------------------------------------
COMMON 1/7/02 S 2,010,000 D .0451 D
- -----------------------------------------------------------------------------------------------------------------------------------
COMMON 1/8/02 S 240,000 D .0417 D
- -----------------------------------------------------------------------------------------------------------------------------------
COMMON 1/9/02 S 400,000 D .0407 D
- -----------------------------------------------------------------------------------------------------------------------------------
COMMON 1/10/02 S 680,000 D .0400 D
- -----------------------------------------------------------------------------------------------------------------------------------
COMMON 1/14/02 S 655,000 D .0369 D
- -----------------------------------------------------------------------------------------------------------------------------------
Page 1 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/15/02 S 1,105,000 D .0348 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/16/02 S 1,160,000 D .0295 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/17/02 S 895,000 D .0289 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/18/02 S 925,000 D .0316 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/22/02 S 670,000 D .0308 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/23/02 S 585,000 D .0299 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/24/02 S 940,000 D .0305 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/25/02 S 955,000 D .0318 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/28/02 S 351,200 D .0310 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/29/02 S 990,000 D .0298 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/30/02 S 530,000 D .0294 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 1/31/02 S 545,000 D .0287 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/1/02 S 775,000 D .0289 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/4/02 S 250,000 D .0297 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/5/02 S 555,000 D .0257 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/6/02 S 950,000 D .0268 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/7/02 S 515,000 D .0263 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/8/02 S 525,000 D .0262 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/12/02 S 300,000 D .0280 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/12/02 S 150,000 D .0263 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/14/02 S 225,000 D .0246 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/15/02 S 295,000 D .0225 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/15/02 S 625,000 D .0207 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/19/02 S 525,000 D .0200 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/19/02 P 20,000,000 A .01 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/19/02 P 30,000,000 A .01 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/20/02 S 250,000 D .0207 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/21/02 S 515,000 D .0200 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/22/02 S 675,749 D .0200 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/29/02 S 310,000 D .0201 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/26/02 S 1,000,000 D .0196 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/27/02 P 20,519,521 A .009 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/27/02 S 1,184,000 D .0228 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 2/28/02 S 250,000 D .0230 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/1/02 S 825,000 D .0202 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/4/02 S 625,000 D .0208 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/5/02 S 150,000 D .0203 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/6/02 S 100,000 D .0215 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/7/02 S 1,160,000 D .0203 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/8/02 S 1,350,000 D .0206 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/11/02 S 1,370,000 D .0210 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/13/03 S 625,000 D .0192 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/14/03 S 1,630,000 D .0220 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/15/03 S 2,005,000 D .0241 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/18/03 S 900,000 D .0267 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/19/03 S 815,000 D .0258 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/20/03 S 550,000 D .0240 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/21/02 S 1,250,000 D .0223 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/22/02 S 500,000 D .0209 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/25/02 S 505,000 D .0207 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/26/02 S 734,000 D .0201 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/27/02 S 500,000 D .0203 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 3/28/02 S 2,620,000 D .0217 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/1/02 S 565,000 D .0211 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/2/02 P 40,519,521 A .009 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/2/02 S 1,400,000 D .0217 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/8/02 S 630,000 D .0196 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/3/02 S 510,000 D .0200 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/4/02 S 1,300,000 D .0192 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/5/02 S 700,000 D .0198 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/8/02 S 630,000 D .0196 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/10/02 S 390,000 D .0200 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/11/02 S 1,150,000 D .0196 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/12/02 S 550,000 D .0190 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/15/02 S 955,000 D .0193 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/16/02 S 750,000 D .0185 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/17/02 S 150,000 D .0194 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/18/02 S 400,000 D .0188 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 4 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/23/02 S 225,000 D .0160 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/24/02 S 530,000 D .0173 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/25/02 S 250,000 D .0171 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/26/02 S 1,493,000 D .0141 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/29/02 S 750,000 D .0137 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 4/30/02 S 516,000 D .0136 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/1/02 S 620,000 D .0135 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/3/02 S 1,000,000 D .0131 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/3/02 S 2,000,000 D .0131 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/6/02 S 1,060,000 D .0145 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/7/02 S 650,000 D .0134 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/8/02 S 2,020,000 D .0122 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/9/02 S 1,100,000 D .0120 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/10/02 S 482,000 D .0103 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/14/02 S 550,000 D .0108 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/15/02 S 650,000 D .0107 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/15/02 S 650,000 D .0107 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/16/02 S 1,400,000 D .0114 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/20/02 S 2,000,000 D .0097 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/20/02 S 200,000 D .0100 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/21/02 S 1,250,000 D .0097 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/22/02 S 995,000 D .0097 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/24/02 S 870,000 D .0100 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 5 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/28/02 S 1,492,000 D .0108 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/28/02 S 1,298,000 D .0108 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/29/02 S 565,000 D .0114 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/30/02 S 750,000 D .0115 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 5/31/02 S 910,000 D .0097 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/3/02 S 1,700,000 D .0092 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/4/02 S 1,100,000 D .0082 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/4/02 S 725,000 D .0089 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/5/02 S 1,000,000 D .0084 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/5/02 S 750,000 D .0084 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/7/02 S 1,110,000 D .0079 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/7/02 S 650,000 D .0083 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/7/02 P 10,500,000 A .0059 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/10/02 S 917,000 D .0086 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/11/02 S 1,750,000 D .0086 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/12/02 S 750,000 D .0084 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/13/02 S 3,378,000 D .0066 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/14/02 S 495,000 D .0063 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/14/02 S 1,105,000 D .0063 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/17/02 S 1,335,000 D .0067 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/18/02 S 1,800,000 D .0065 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/19/02 P 29,964,242 A .00956 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/19/02 S 1,770,000 D .0068 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 6 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/21/02 S 1,650,000 D .0066 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/25/02 S 410,000 D .0066 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/20/02 P 29,946,363 A .00956 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/26/02 S 800,000 D .0040 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/26/02 S 2,200,000 D .0027 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/27/02 S 3,710,000 D .0026 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 6/28/02 S 2,110,000 D .0037 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/1/02 S 867,000 D .0040 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/2/02 S 2,710,000 D .0042 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/3/02 S 1,000,000 D .0037 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/5/02 S 1,840,000 D .0037 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/8/02 S 1,405,000 D .0041 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/9/02 S 2,638,000 D .0045 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/10/02 S 7,515,000 D .0075 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/11/02 S 2,450,111 D .0093 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/11/02 S 2,749,889 D .0093 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/12/02 S 9,030,000 D .0160 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/15/02 S 5,000,000 D .0270 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/16/02 S 4,850,000 D .0212 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/17/02 S 3,935,000 D .0124 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/18/02 S 9,375,000 D .0092 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 7/19/02 S 6,150,000 D .0114 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/2/02 X 30,000,000 A 0.2 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 7 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/14/02 S 332,000 D .0550 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/15/02 S 260,000 D .0496 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/08/02 S 408,700 D .100 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/16/02 S 79,700 D .0446 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/19/02 S 130,000 D .0487 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/20/02 S 58,000 D .0384 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/21/02 S 17,500 D .0332 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/22/02 S 144,500 D .0187 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/23/02 S 50,000 D .0224 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/26/02 S 185,000 D .0248 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/27/02 S 275,000 D .0238 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/28/02 S 150,000 D .0208 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/29/02 S 220,000 D .0298 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 8/30/02 S 212,000 D .0222 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/3/02 S 515,000 D .0195 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/4/02 S 275,000 D .0195 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/9/02 S 700,000 D .0107 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/10/02 S 285,000 D .0108 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/11/02 S 350,000 D .0107 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/2/02 S 725,000 D .0109 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/13/02 S 100,000 D .0107 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/19/02 S 100,000 D .015 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/20/02 S 307,000 D .0099 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 8 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/23/02 S 300,000 D .0099 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/24/02 S 400,000 D .0099 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/25/02 S 402,000 D .0102 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/26/02 S 300,000 D .01 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/27/02 S 1,137,500 D .0096 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 9/30/02 S 107,900 D .0097 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/03/02 S 395,000 D .0077 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/08/02 S 95,000 D .0076 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/09/02 S 100,000 D .01 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/16/02 S 200,000 D .0064 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/17/02 S 500,000 D .0068 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/17/02 S 300,000 D .0068 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/18/02 S 124,000 D .0064 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/21/02 S 525,000 D .0071 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/24/02 S 1,000,000 D .0059 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/25/02 S 780,000 D .006 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/28/02 S 600,000 D .0057 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/29/02 S 250,000 D .0063 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 10/30/02 S 400,000 D .0058 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/1/02 S 1,300,000 D .006 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/6/02 S 400,000 D .0067 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/8/02 S 150,000 D .0067 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/12/02 S 350,000 D .0068 D
- ------------------------------------------------------------------------------------------------------------------------------------
Page 9 of 12
FORM 5 (CONTINUED) Table 1-- Non-derivative Securities Acquired, Disposed Of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/13/02 S 400,000 D .0068 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/14/02 S 1,200,000 D .0086 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/14/02 S 100,000 D .009 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/15/02 P 5,000 A .0085 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/22/02 S 627,000 D .0062 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/25/02 S 50,000 D .0075 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 11/26/02 S 850,000 D .0066 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 12/02/02 S 1,000,000 D .0066 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 12/09/02 S 700,000 D .0063 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 12/12/02 S 250,000 D .0068 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 12/13/02 S 600,000 D .0063 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 12/24/02 S 500,000 D .0059 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 12/26/02 S 500,000 D .0058 D
- ------------------------------------------------------------------------------------------------------------------------------------
COMMON 12/27/02 S 500,000 D .0059 D
- ------------------------------------------------------------------------------------------------------------------------------------
17,688,437
====================================================================================================================================
* If the form is filed by more than one reporting person, see instruction
4(b)(v).
Page 10 of 12
FORM 5 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
10.
9. Owner-
Number ship
2. of of
Conver- 5. 7. Deriv- Deriv- 11.
sion Number of Title and Amount ative ative Nature
or Derivative 6. of Underlying 8. Secur- Secur- of
Exer- 3A. 4. Securities Date Securities Price ities ity: In-
cise Deemed Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Bene- Direct direct
Price 3. Execut- action or Disposed Expiration Date ---------------- Deriv- ficially (D) or Bene-
1. of Trans- ion Code of(D) (Month/Day/Year) Amount ative Owned In- ficial
Title of Deriv- action Date if (Instr. (Instr. 3, ---------------- or Secur- at End direct Owner-
Derivative ative Date any 8) 4 and 5) Date Expira- Number ity of Year (I) ship
Security Secur- (mm/dd/ (mm/dd/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity yy) yy) (A) (D) cisable Date Title Shares 5) 4) 4) 4)
- ------------------------------------------------------------------------------------------------------------------------------------
Obligation .02 7/29/02 J(1) 60,000 Immed. COMMON .02 30,000,000(2) D
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
Explanation of Responses:
/s/ Richard Epstein 4/17/03
- --------------------------------------------- -----------------------
**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.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
- -------------------
1 eConnect incurred the obligation to deliver the 60,000,000 shares on
7/29/02.
2 eConnect delivered 30,000,000 shares on 8/2/02. In a letter dated October
22, 2002, eConnect stated the remaining 30,000,000 shares would be
delivered over a period of six months at 5,000,000 shares per month. None
of these shares have been received as of 12/31/02.
Page 11 of 12
FORM 5 (CONTINUED)
OTHER REPORTING ENTITY:
ALLIANCE EQUITIES, INC.
IRS ID#: 65-0733456
Page 12 of 12
