Page 1 of 4 U.S. 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(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). ================================================================================ 1. Name and Address of Reporting Person* Commonwealth Associates, L.P. -------------------------------------------------------------------------------- (Last) (First) (Middle) 830 Third Avenue -------------------------------------------------------------------------------- (Street) New York New York 10022 -------------------------------------------------------------------------------- (City) (State) (Zip) ================================================================================ 2. Issuer Name and Ticker or Trading Symbol eB2B Commerce, Inc. (NASD SmallCap: EBTB) ================================================================================ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ================================================================================ 4. Statement for Month/Year January 2002 ================================================================================ 5. If Amendment, Date of Original (Month/Year) ================================================================================ 6. Relationship of Reporting Person to Issuer (Check all applicable) |X| 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 ================================================================================ * If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v). Page 2 of 4 ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Page 3 of 4 FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================

9. 10. Number Owner- of ship 2. Deriv- Form of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature ofor Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of (D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ ~~Unit~~Warrant to Purchase Common ~~Option~~Common ~~(1)~~Stock ~~(1)~~$2.42 051/0211/0102 J 2165,~~321,334~~288 ~~immed~~1/11/02 041/1611/0604 Stock 2165,~~321,334~~288 (1) 6165,~~050,254~~288 D (21) ------------------------------------------------------------------------------------------------------------------------------------ ~~Unit~~------------------------------------------------------------------------------------------------------------------------------------ ~~Purchase~~------------------------------------------------------------------------------------------------------------------------------------ ~~Common~~------------------------------------------------------------------------------------------------------------------------------------ ~~Option (1) (1) 05/02/01 I 750,080 immed 04/16/06 Stock 750,080 (1) 14,136,976 I (3)~~ ------------------------------------------------------------------------------------------------------------------------------------ ~~Common Convertible Note $.50 05/02/01 P 4,000,000 immed 10/16/02 Stock 4,000,000 (4) I (4)~~ ------------------------------------------------------------------------------------------------------------------------------------ ~~Common Warrants $.93 05/02/01 P 4,000,000 (4) (4) Stock 4,000,000 (4) 9,370,976 I (4)~~ ------------------------------------------------------------------------------------------------------------------------------------ ~~Common Warrants $.50 05/02/01 J 900,000 (5) (5) Stock 900,000 (5) 900,000 I (5)~~ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================

Explanation of Responses: (1) This warrant was issued to Commonwealth Associates, L.P. ("Commonwealth") by eB2B Commerce, Inc. (the "Company") in consideration of services performed by Commonwealth in connection with a private placement of the Company's securities which closed January 11, 2002. The general partner of Commonwealth is Commonwealth Associates Management Company, Inc. ("CAMC"). Michael S. Falk is the Chairman and principal shareholder of CAMC, which is the principal partner of Commonwealth. Mr. Falk disclaims beneficial ownership of the securities held by Commonwealth other than that portion which corresponds with his interest in Commonwealth. ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Commonwealth Associates, L.P. By: Commonwealth Associates Management Company, Inc. /s/ Joseph Wynne March 7, 2002 --------------------------------------------- ----------------------- ** Signature of Reporting Person Date Joseph Wynne Chief Financial Officer Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Page 3 of 4 JOINT FILER INFORMATION AND AUTHORIZATION Name: Commonwealth Associates Management Company, Inc. 830 Third Avenue New York, New York 10022 Designated Filer: Commonwealth Associates, LP Issuer & Ticker Symbol: eB2B Commerce, Inc. (NASD SmallCap: EBTB) Statement Month/Year: January 2002 Signature: /s/ Joseph Wynne --------------------------------------------- Joseph Wynne, Chief Financial Officer Name: Michael S. Falk 830 Third Avenue New York, New York 10022 Designated Filer: Commonwealth Associates, L.P. Issuer & Ticker Symbol: eB2B Commerce, Inc. (NASD SmallCap: EBTB) Statement Month/Year: January 2002 Signature: /s/ Michael S. Falk --------------------------------------------- Michael S. Falk

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