4 1 oct222002-form4.txt FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [ ] Check this box if OMB APPROVAL no longer subject OMB Number 3235-0287 to Section 16. Form 4 Expires: January 31,2005 or Form 5 obligations Estimated ave. burden may continue. See hours per response...0.5 instruction 1(b). 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 1940

---------------------------------------------------------------------------------------------------------------------------- 1.Name and Address of 2.Issuer Name and Ticker or Trading Symbol 6.Relationship of Reporting Reporting Person* ~~or Trading Symbol~~ Person(s) to Issuer ~~(check all Applicable)~~ Probex Corp. (PRB) ~~Haddock~~(check ~~Ron~~all W.applicable) ~~07/2002 X Director 10% Owner~~ --------------------------------------- ------- Brobjorg John N. 3. I.R.S. Identification 4. Statement for Director 10% Owner ---------------- ----------------------- Number of Reporting Month/Day/Year --- --- (Last) (First) (MI) ~~3.IRS~~Person, orif ~~Soc.Sec.No.~~an ~~4.Statement~~entity ~~for~~X Officer Other of(Voluntary) ~~Reporting Person Month~~09/~~Year~~30/02 --- (give title --- (~~Voluntary) (Give title (~~specify ~~below)~~15510 ~~below)~~Wright ~~2121~~Brothers ~~San~~Drive ~~Jacinto, L.B. 40 Suite 2950~~ ----------------- below) below) ---------------------------------------- ------------------------- 5. If Amendment, VP & Corporate Controller (Street) Date of Original ----------- ~~(Street)~~ ------------------------ ~~5.If~~Addison ~~Amendment,~~TX 75001 (Month/Day/Year) 7.Individual or Joint/Group ~~Date of Original Filing (Check Applicable Dallas, TX 75201 (Month/Year) Line)~~ ---------------------------------------- Filing (Check Applicable (City) (State) (Zip) ------------------- ~~(City~~Line) ~~(State) (Zip)~~ X Form filed by One ~~---~~ Reporting Person --- Form filed by More ~~---~~ than One --- Reporting Person

----------------------------------------------------------------------------------------------------------------------------------- Table I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned ----------------------------------------------------------------------------------------------------------------------------------- 1. Title of Security 2. Transaction 2A. 3. Transaction 4. Security Acquired (A) 5. Amount of 6. Owner 7. Nature of (~~Inst~~Instr.3) Date Deemed Code or Disposed of (D) Securities ship Indirect (Month/ Execution (Instr.8) (Inst.3, 4 & 5) Beneficially Form: Beneficial Day/Yr) Date, if ----------------------------------------- Owned Direct Owner-~~--------~~ any Following (D) or Ship (Month/ Reported Indirect Day/ (A) Transaction(s) (I) Year) or (Instr. 3 and 4) (Instr. 4) (Instr. 4) Code V Amount (D) Price Common Stock 09/30/02 J(1) 6,720 A $0.75 86,021 I By IRA ---------------------- -------------- ----- ---- ----- ----- ----- ------- ----- ------ ---------- ---- ----------~~---~~ ---------- ---------------------- --------- ----- --------- ----- ------- ----- ------ ---- ------ ---- ----------~~---~~ ---------- ---------- ---------------------- -------------- ----- ----~~---~~ ----- ----- ----------- ---- ------~~-------~~ -------------- ---------- ----------~~-------~~ ------------------- ---~~----~~ ----- --------- ------- ---- ----- -----~~---~~ ----------- ---- ------ --------------~~------~~ ----------~~---------~~ ------- ----- ---------------- ---- --~~-----------~~ -------------- --------- ----- -----~~--------~~ ----------- ----~~----~~ ------- ----- --------- ------- ---- ----------~~---~~

Page 1 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).

~~5. Amount of Securities 6. Ownership Form 7. Nature of Indirect Beneficially Owned at Direct (D) or Beneficial Ownership at End of Month Indirect (I) (Inst. 4) (Inst. 3 & 4)~~ --------------------------------------- ------------------------------ ------------------------------------ --------------- Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ----------------------- ------------------------------ ------------------------------------ ------------------------------- 1. Title of 2. Conversion 3. Transaction 3A. Deemed 4. Transaction 5. Number of Deriv- Derivative or Exercise Date (Month Execution Code ative Securities Ac- Security Price of (Day/Year) Date, if (Instr. 8) quired (A) or Dis- (Instr.3) Derivative any posed of (D) Security (Month/ (Instr. 3,4, and 5) Day/Year) Code V (A) (D) ----- -------------------------- ---- -------- ----------- ------------ ----- ---- ---------- ---------- --------------- ---------------- -------------- ----------- ------------ ----- ----~~----~~ ---------- ---------- ------------------- ------------ ------------ ------ ----- ------------ ----- ---- ---------- ---------- ----------------------------- -- ------------ ----------- ----- ------- ----- ---- ---------- ---------- ------------------------------- -------- ---- ----------- ------------~~---~~ ----- ---- ---------- ----------~~-------~~

6. Date Exercisable 7. Title & Amount of 8. Price 9. Number 10. Owner- 11. Nature & Expiration Date Underlying Securities of Deriv- of Deriv- ship of (Mon./Day/Year) (Inst. 3 & 4) ative ative Form of Indirect Secur- Secur- Deriv- Benefi-~~---------------------------------------------------------------------------------------------------------------------~~ ~~Table~~ity IIities -ative ~~Derivative~~cial ~~Securities~~(Instr. ~~Acquired,~~5) ~~Disposed~~Bene- ~~of,~~Security: Owner- ficially (D) or ~~Beneficially~~ship Owned Indirect (eInstr.g 4) Follow- (I) ing (Instr., ~~puts,~~4) ~~calls,~~Reported ~~warrants,~~Trans- ~~options,~~action(s) ~~convertible~~(Instr. ~~security~~4) --------------------------------------------------------------------------------------------------------------------------------- 1.Date Expira- Title ofAmount ~~2. Conversion 3. Transaction 4. Transaction Derivative~~ or ~~Exercise~~number ~~Date~~Exer- ~~(Month~~tion ~~Code Security Price~~ of ~~(Day/Year)~~Shares ~~(Instr.~~cisable 8)Date ~~(Instr.3) Derivative Security Code V Warrant $0.75 (1) 7/29/02 P~~ ----------- -------------- ----------------- ------------- ------- --- ------------- ------------ ----------~~-----~~ ~~Convertible Promissory Note (3) 7/29/02 P~~ ----------- -------------- ----------------- ------------- ------- --- ------------- ------------ ----------~~-----~~ ----------- -------------- ----------------- ------------- ------- --- ------------- ------------ ----------~~-----~~ ----------- -------------- ----------------- ------------- ------- --- ------------- ------------ ----------~~-----~~ ----------- -------------- ----------------- ------------- ------- --- ------------- ------------ ----------~~-----~~

Explanation of Responses: (1) Received as consideration for the extension of an obligation of the Issuer.

5./s/ ~~Number~~John ~~of Derivative 6~~N. ~~Date~~Brobjorg ~~Exercisable 7. Title & Amount of Securities Acquired & Expiration Date Underlying Securities (A) or Disposed of (D) (Mon.~~10/~~Day~~21/~~Year)~~02 ~~(Inst.~~**Intentional 3misstatements ~~& 4) (Instr. 3, 4 & 5) ---------------------------------------------------------------------------------------------------------------------------- (A) (D) Date Expiration Title Amount~~ or ~~number~~omissions ~~Exercisable Date~~ of ~~Shares~~facts ~~15,000~~constitute ~~7/29/02~~Federal ~~7/29/07 Common Stock 15,000~~ ----------------- ----------------- --------~~----~~ ~~-------------~~Criminal ~~--------------~~Violations. ~~--------------------------~~See ~~$10,000~~18 ~~7/29/02~~U.S.C. ~~(3)~~1001 ~~2/28/03~~and ~~(3)~~15 ~~Common~~U.S.C. ~~Stock~~ 78ff(3a). ~~-----------------~~**Signature ~~-----------------~~of ~~------------~~Reporting ~~-------------~~Person -------------- -------------------------- ----------------- ----------------- ------------ ------------- -------------- -------------------------- ----------------- ----------------- ------------ ------------- -------------- -------------------------- ----------------- ----------------- ------------ ------------- -------------- --------------------------Date

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8. Price of Derivative 9. Number of Derivative Securities 10. Ownership Form of 11. Nature of Indirect Security (Inst.5) Beneficially Owned at end of Derivative Security Beneficial Month (Instr. 4) Direct (D) or Ownership (Instr.4) Indirect (I) (Instr.4) (2) 15,000 D ----------------------- ----------------------------------- -------------------------- ------------------------------ $10,000 $10,000 D ----------------------- ----------------------------------- -------------------------- ------------------------------ ----------------------- ----------------------------------- -------------------------- ------------------------------ ----------------------- ----------------------------------- -------------------------- ------------------------------ ----------------------- ----------------------------------- -------------------------- ------------------------------ Explanation of Responses: (1) The exercise price contained in this warrant is subject to adjustment pursuant to ratchet pricing provisions. These provisions automatically reduce the exercise price of the warrant upon certain events. (2) Received in connection with a loan made to the Issuer evidenced by the Convertible Promissory Note (the "Note"). (3) The number of shares of Issuer's common stock issuable upon conversion of this Note shall be equal to the amount of the principal balance and all accrued and unpaid interest due under this Note on the date of the consummation of the financing to construct the Issuer's initial reprocessing facility ("Qualified Financing"), or such lesser amount as the holder shall have elected to be converted, divided by the Conversion Price. For purpose hereof, "Conversion Price" shall mean (i) if Issuer's common stock is issued and sold in connection with the Qualified Financing, the purchase price paid to Issuer by such purchasers for each share of Issuer's common stock in the Qualified Financing, (ii) if securities other than Issuer's common stock are issued and sold in connection with the Qualified Financing, the price at which such securities issued and sold in connection with the Qualified Financing may be converted into Issuer's common stock, or (iii) if none of the securities of Issuer issued and sold in connection with the Qualified Financing are Issuer's common stock or securities convertible into Issuer's common stock, the product of (A) the average closing price of Issuer's common stock as reported by the American Stock Exchange for the twenty (20) trading days prior to the consummation of the Qualified Financing and (B) 0.94.

/s/ Ron W. Haddock 08/12/02 **Intentional misstatements or omissions of facts constitute Federal -------------------------------------------- Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person Date

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