4 1 y41207e4.txt FORM 4 1 FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 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* Commonwealth Associates, LP -------------------------------------------------------------------------------- (Last) (First) (Middle) 830 Third Avenue -------------------------------------------------------------------------------- (Street) New York New York 10022 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Intelispan, Inc. (NASD OTCBB: IPVN) -------------------------------------------------------------------------------- ________________________________________________________________________________ 3. IRS or Social Security Number of Reporting Person, if an entity (Voluntary) 13-3467952 ________________________________________________________________________________ 4. Statement for Month/Year September 2000 --------------------------------------------------------------------------- ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ================================================================================ 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [x] Director [x] 10% Owner [_] Officer (give title below) [_] Other (specify below) Michael S. Falk is a director ________________________________________________________________________________ 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 ================================================================================

(Over) 1 of 4 2 FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================

/s/ /s/ Joseph P. Wynne September 25,2000 --------------------------------------------- ----------------------- **Signature of Reporting Person Date Joseph P. Wynne, Chief Financial Officer 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 provided is insufficient, see Instruction 6 for procedure. 2 of 4 3 FOOTNOTES Page 3 of 4 (1) These shares acquired are owned directly by, and these shares and warrants disposed of were owned directly by, Commonwealth Associates, L.P. ("Commonwealth") . Michael S. Falk ("Falk") is the principal limited partner of Commonwealth, and is a director, the Chairman and the principal shareholder of Commonwealth Associates Management Corp., the general partner of Commonwealth. Falk disclaims beneficial ownership of the securities held by Commonwealth other than that portion which corresponds with his equity ownership in Commonwealth. (2) These shares acquired are owned directly by, and these shares and warrants disposed of were owned directly by, ComVest Capital Partners LLC ("ComVest"). Falk is a manager and the principal member of ComVest. Falk disclaims beneficial ownership of the shares held by ComVest other than that portion which corresponds with his membership interest in ComVest. (3) These shares acquired are owned directly by, and these shares and warrants disposed of were owned directly by, Falk. (4) These shares acquired are owned directly by, and these shares and warrants disposed of were owned directly by, trusts for the benefit of Falk's children. Falk is the trustee of such trusts. 4 JOINT FILER INFORMATION AND AUTHORIZATION Page 4 of 4 Name: Commonwealth Associates Management Corp. 830 Third Avenue New York, New York 10022 Designated Filer: Commonwealth Associates, LP Issuer & Ticker Symbol: Intelispan, Inc. (IPVN) Statement Month/Year: September 2000 Signature: By: /s/ Joseph Wynne ------------------------------------- Joseph Wynne, Chief Financial Officer Name: ComVest Capital Partners LLC 830 Third Avenue New York, New York 10022 Designated Filer: Commonwealth Associates, LP Issuer & Ticker Symbol: Intelispan, Inc. (IPVN) Statement Month/Year: September 2000 Signature: By: /s/ Michael S. Falk ------------------------- Michael S. Falk, Manager Name: Michael S. Falk 830 Third Avenue New York, New York 10022 Designated Filer: Commonwealth Associates, LP Issuer & Ticker Symbol: Intelispan, Inc. (IPVN) Statement Month/Year: September 2000 Signature: /s/ Michael S. Falk ------------------- Michael S. Falk

INTELISPAN INC /WA/ 4