4 1 cyanform4-42203.txt ------------------------------ OMB APPROVAL ------------------------------ OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response.........0.5 ------------------------------ UNITED STATES 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(h) of the Investment Company Act of 1940 |_| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). (Print or Type Responses) ________________________________________________________________________________ 1. Name and Address of Reporting Person* CYAN INVESTMENTS LLC -------------------------------------------------------------------------------- (Last) (First) (Middle) 501 N.W. Grand Boulevard -------------------------------------------------------------------------------- (Street) Oklahoma City OK 73118 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Pacer Technology (PTCH) ________________________________________________________________________________ 3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) 35-2198875 ________________________________________________________________________________ 4. Statement for Month/Day/Year 4/21/03 ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Day/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. Amount of 6. 4. Securities Owner- Securities Acquired (A) or Beneficially ship 2A. 3. Disposed of (D) Owned Form: 7. 2. Deemed Transaction (Instr. 3, 4 and 5) Following Direct Nature of Trans- Execution Code ------------------------------- Reported (D) or Indirect 1. action Date, if (Instr. 8) (A) Transaction(s) Indirect Beneficial Title of Security Date any ------------ or (Instr. 3 & (I) Ownership (Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V Amount (D) Price Instr.4) (Instr.4) (Instr.4) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 4/1721/03 P 512,000(1) A $5.75 770,195(4) D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 4/1721/03 P 512,000(2) A $5.75 770,195(4) I By LLC ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 4/1721/03 P 512,000(3) A $5.75 770,195(4) I By LLC ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ==================================================================================================================================== (1) The reported securities are owned by CYAN Investments LLC, which is managed by Ellis T. Gravette, Jr. and G. Jeffrey Records, Jr. CYAN Investments LLC, Ellis T. Gravette, Jr. and G. Jeffrey Records, Jr. are members of a "group" for purposes of Section 13(d) of the Exchange Act. (2) Ellis T. Gravette, Jr. is a manager of the LLC that owns the reported securities. Mr. Gravette disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. (3) G. Jeffrey Records, Jr. is a manager of the LLC that owns the reported securities. Mr. Records disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. (4) Mr. Gravette owns 139,600 of the reported securities. The remainder of the reported securities are owned by CYAN Investments LLC. CYAN, Mr. Gravette and Mr. Records are members of a "group" for purposes of Section 13(d) of the Exchange Act.

FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================

Explanation of Responses: By: Ellis T. Gravette, Jr., Manager THEODORE M. ELAM, Attorney-in-fact 4/22/03 --------------------------------------------- ----------------------- **Signature of Reporting Person Date 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). ** 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 is insufficient, see Instruction 6 for procedure. Page 2 JOINT FILER INFORMATION Name: Ellis T. Gravette, Jr. Address: 2636 Caminito Tom Morris LaJolla, CA 92037 Designated Filer: Pacer Technology (PTCH) Date of Event Requiring Statement: 04/21/03 THEODORE M. ELAM Signature: By: Theodore M. Elam, Attorney-in-fact JOINT FILER INFORMATION Name: G. Jeffrey Records, Jr. Address: 501 N.W. Grand Boulevard Oklahoma City, OK 73118 Designated Filer: CYAN Investments LLC Issuer & Ticker Symbol: Pacer Technology (PTCH) Date of Event Requiring Statement: 4/21/03 THEODORE M. ELAM Signature: By: Theodore M. Elam, Attorney-in-fact

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