4 1 apatoff.txt FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP | | Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See 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 of 1940 ------------------------------------------------------------------------------------------------------------------------------------ 1. Name and Address of Reporting Person*/ 2. Issuer Name and Ticker / 6. Relationship of Reporting Person(s) to Issuer / or Trading Symbol / (Check all applicable) / / / / ___ Director X 10% Owner / DBS Industries, Inc. ("DBSS") / ___ Officer ___ Other Apatoff, Michael / / (give title below) (specify below) / / / / ----------------------------------------/----------------------------------------/-------------------------------------------------- (Last) (First) (Middle) / 3. IRS or / 4. Statement for / 7. Individual or Joint/Group Filing / Social Security / (Month/Year) / (Check Applicable Line) c/o DBS Industries, Inc. / Number of / / 100 Shoreline Highway, Suite 190A / Reporting Person / 7/02 / X Form filed by one Reporting Person ----------------------------------------/ /------------------/ (Street) / / 5. If Amendment, / ___ Form filed by more than One / -- / Date of / Reporting Person / / Original / Mill Valley, CA 94941 / / (Month/Year) / --------------------------------------- / / / (City) (State) (Zip) / / / -----------------------------------------------------------------------------------------------------------------------------------

TABLE I - NONDERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED ------------------------------------------------------------------------------------------------------------------------------------ 1. Title /2.Trans- /3.Transaction / 4. Securities Acquired (A) / 5. Amount of /6. Ownership / 7. Nature of of / action / Code / or Disposed of (D) / Securities / Form: / Indirect Security / Date / (Instr. 8) / (Instr. 3,4 and 5) / Beneficially / Direct (D) / Beneficial (Inst.3) /(Mo/Day/Yr) /-------------------------------------------------/ Owned at End / or / Ownership / / Code / V / Amount /(A) or (D)/ Price / of Month / Indirect(I) / (Instr.4) / / / / / / / (Inst. 3 and 4) / (Instr.4) / ==================================================================================================================================== ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ==================================================================================================================================== 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).

2 FORM 4 (continued) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (e.g., puts, calls, warrants, options, convertible securities) ------------------------------------------------------------------------------------------------------------------------------------ 1. / 2. /3. /4. /5. /6. /7. /8. /9. /10. / 11. Title of / Con- / Trans- / Trans- / Number of / Date / Title and / Price / Number / Owner- / Nature Derivative / version / action / action / Derivative / Exercisable / Amount of / of / of / ship / of Security / or / Date / Code / Securities / and / Underlying / Deriv- / Deriv- / form of/ Indirect (Instr. 3) / exercise/ (Mo. /(Inst.8)/ Acquired / Expiration / Securities / ative / ative / Deriv- / Beneficial / Price of/ Day / / (A) or / Date / (Instr. 3,4) / Secu- / Secu- / ative / Ownership / of / Year) / / Disposed /(Month/Day/Year) / / rity / rities / Secu- / / Deriv- / / / of (D) / / /(Inst.4)/ Benefi-/ rity: / / ative / / /(Inst.3,4,5)/ / / / cially / Direct / / Secu- / /--------/------------/-----------------/---------------/ / Owned / (D) / / rity / /Code/ V / (A) / (D) / Date / Expir-/ Title /Amount / / at End /Indirect/ / / / / / / / Exer- / ation / / or / / of / (I) / / / / / / / / cisable/ Date / /No. of / / Month /(Inst.4)/ / / / / / / / / / /shares / /(Inst.4)/ / ==================================================================================================================================== Options to $.24 6/30/02 A V 46,977 6/30/02 6/30/12 Common 46,977 - 16,491,992 D N/A Purchase Stock Common Stock ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ==================================================================================================================================== Explanation of Responses: /S/ MICHAEL APATOFF 8/5/02 -------------------------------- ---------- Michael Apatoff Date

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

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