4 1 y52112ee4.txt ELOT, INC. 1 OMB APPROVAL -------------------------- OMB Number: 3235-0287 -------------------------- Expires: December 31, 2001 -------------------------- Estimated average burden hours per response...0.5 -------------------------- 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* PlasmaNet, Inc. -------------------------------------------------------------------------------- (Last) (First) (Middle) 420 Lexington Ave. (Suite 2435) -------------------------------------------------------------------------------- (Street) New York NY 10170 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol ELOT, INC. (NASDAQ: ELOTC) -------------------------------------------------------------------------------- ________________________________________________________________________________ 3. IRS or Social Security Number of Reporting Person, if an entity (Voluntary) 13-4037944 PlasmaNet, Inc. ________________________________________________________________________________ 4. Statement for Month/Year July, 2001 --------------------------------------------------------------------------- ________________________________________________________________________________ 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) [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 2

2 3

3 4

Explanation of Responses: (1) The reporting person acquired one share of the issuer's Series A Preferred Stock as consideration for the sale by the reporting person of certain of its assets to the issuer pursuant to the provisions of a certain Asset Purchase Agreement dated June 8, 2001. The Series A Preferred Stock is convertible into 700,000 shares of the issuer's common stock, which number of shares of common stock may be increased or decreased as determined pursuant to a formula set forth in the Asset Purchase Agreement. 4 5 /s/ William R. Mack, on behalf of Plasmnet, Inc. ------------------------------------------------ August 8, 2001 Date William R. Mack, Controller on Behalf of Plasmanet,Inc. 5

ELOT INC 4