4 1 doc1.txt FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 CHECK THIS BOX IF NO LONGER OMB APPROVAL SUBJECT TO SECTION 16, FORM 4 OR OMB NUMBER: 3235-0287 FORM 5 OBLIGATIONS MAY CONTINUE. EXPIRES: JANUARY 31,2005 SEE INSTRUCTION 1(B) ESTIMATED AVERAGE BURDEN HOURS PER RESPONSE 0.5 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 (PRINT OR TYPE RESPONSES) 1. NAME AND ADDRESS 2. ISSUER NAME AND TICKER 6. RELATIONSHIP OF REPORTING OF REPORTING PERSON* OR TRADING SYMBOL PERSON(S) TO ISSUER (CHECK ALL APPLICABLE) NOLAN, JOSEPH P. PHLO CORPORATION PHLC __ DIRECTOR X 10% OWNER ------------------------- ----------------------- ---- (LAST) (FIRST) (MIDDLE) __ OFFICER __ OTHER __________________ 503 NORTH WALNUT ROAD ------------------------- (STREET) 3. I.R.S. IDENTIFICATION 4. STATEMENT FOR NUMBER OF REPORTING MONTH/YEAR KENNETT SQUARE, PA 19348 PERSON, IF AN ENTITY MARCH, 2002 --------------------------- ------------ (CITY) (STATE) (ZIP) (VOLUNTARY) __________________ 5. IF AMENDMENT, 7. INDIVIDUAL OR JOINT/GROUP DATE OF ORIGINAL FILING (CHECK APPLICABLE LINE) (MONTH/YEAR) X FORM FILED BY ONE REPORTING --- PERSON ______________ __ FORM FILED BY MORE THAN ONE REPORTING PERSON

6.TABLE 4.I 5.- ~~Owner~~NON-DERIVATIVE ~~Securities~~SECURITIES ~~Acquired~~ACQUIRED, ~~(A)~~DISPOSED orOF, ~~Amount~~OR ofBENEFICIALLY ~~ship~~OWNED 31. ~~Disposed~~TITLE ofOF ~~(D)~~2. ~~Securities~~TRANSACTION ~~Form: 7~~3. ~~Transaction~~TRANSACTION ~~(Instr~~4. 3,SECURITIES 4ACQUIRED ~~and~~(A) 5). ~~Beneficially~~AMOUNT ~~Direct~~OF ~~Nature~~6. ofOWNERSHIP 27. ~~Code~~NATURE ~~-------------------------------~~OF ~~Owned~~SECURITY atDATE ~~End~~ (M/D/Y) orCODE ~~Indirect~~OR 1.DISPOSED ~~Transaction~~OF (~~Instr. 8~~D) SECURITIES FORM INDIRECT (A)INSTR. of3, ~~Month~~4, ~~Indirect~~AND ~~Beneficial~~5) ~~Title~~BENEFICIALLY ofDIRECT ~~Security~~(D) ~~Date~~BENEFICIAL ~~------------~~OWNED ~~Amount~~AT orOR ~~Price~~INDIRECT ~~(Instr.~~OWNERSHIP 3CODE V AMOUNT (IA) ~~Ownership~~PRICE ~~(Instr.~~END 3)OF (~~mm/dd/yy~~I) ~~Code~~OR V (D) ~~and~~MONTH (INSTR. 4) (~~Instr~~INSTR. 4) (~~Instr~~INSTR. 3 AND 4) -------------------------------------------------------------------------------------------------------------------------------~~-----~~ ~~------------------------------------------------------------------------------------------------------------------------------------~~COMMON ~~Common~~STOCK ~~Stock, $.001 par value 1~~03/1618/022002 S 1020,000 (D) $ 0.1925 ~~4,515,830~~ (D) ~~N/A~~ -------------------------------------------------------------------------------------------------------------------------------~~-----~~ ~~Common~~COMMON ~~Stock,~~STOCK ~~$.001 par value 1~~03/1719/022002 S 1150,~~334~~000 (D) $0.~~185~~22 ~~4,504,496~~ (D) ~~N/A~~ -------------------------------------------------------------------------------------------------------------------------------~~-----~~ ~~Common~~COMMON ~~Stock,~~STOCK ~~$.001 par value 1~~03/2520/022002 S 7100,~~800~~000 (D) $0.1819 ~~4,496,996~~ (D) ~~N/A~~ -------------------------------------------------------------------------------------------------------------------------------~~-----~~ ~~------------------------------------------------------------------------------------------------------------------------------------~~COMMON ~~------------------------------------------------------------------------------------------------------------------------------------~~STOCK 03/21/2002 S 70,000 (D) 0.17 (D) -------------------------------------------------------------------------------------------------------------------------------~~-----~~ COMMON STOCK 03/22/2002 S 95,000 (D) 0.17 (D) -------------------------------------------------------------------------------------------------------------------------------~~-----~~ COMMON STOCK 03/26/2002 S 60,000 (D) 0.21 (D) -------------------------------------------------------------------------------------------------------------------------------~~-----~~ COMMON STOCK 03/27/2002 S 20,000 (D) 0.19 (D) -------------------------------------------------------------------------------------------------------------------------------~~-----~~ COMMON STOCK 03/28/2002 S 16,658 (D) 0.16 4,458,342 (D) -------------------------------------------------------------------------------------------------------------------------------~~-----~~ ~~====================================================================================================================================~~* IF THE FORM IS FILED BY MORE THAN ONE REPORTING PERSON, SEE INSTRUCTION 4(B)(V). REMINDER: REPORT ON A SEPARATE LINE FOR EACH CLASS OF SECURITIES BENEFICIALLY OWNED DIRECTLY OR INDIRECTLY.

POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. FORM 4 (CONTINUED)

~~10.~~TABLE 9.II ~~Owner~~- ~~Number~~DERIVATIVE ~~ship~~SECURITIES ofACQUIRED, ~~Form~~DISPOSED 2.OF, ~~Deriv-~~OR ofBENEFICIALLY ~~Conver-~~OWNED 5(E. 7G., ~~ative~~PUTS, ~~Deriv-~~CALLS, ~~11.~~WARRANTS,OPTIONS, ~~sion~~CONVERTIBLE ~~Number~~SECURITIES) of1. ~~Title~~TITLE ~~and~~2. ~~Amount~~CONVERSION ~~Secur-~~3. ~~ative~~TRANSACTION ~~Nature~~4. orTRANSACTION ~~Derivative~~5. NUMBER 6. ofDATE ~~Underlying~~7. TITLE 8. ~~ities~~PRICE ~~Secur-~~9. ofNUMBER ~~Exer~~10.OWNER- 411. ~~Securities~~NATURE ~~Date~~OF ~~Securities~~OR ~~Price~~DATE ~~Bene-~~CODE ~~ity:~~OF InEXER- ~~cise~~AND 3.OF ~~Trans~~OF SHIP OF DERIV- ~~Acquired~~EXERCISE (AM/D/Y) ~~Exercisable and~~ (~~Instr~~INST. ~~3 and 4~~8) ~~of ficially Direct direct Price Trans~~DERIV- ~~action~~CISABLE orAMOUNT ~~Disposed Expiration Date~~ DERIV-~~---------------~~ ~~Deriv~~DERIV- ~~Owned~~FORM ~~(D)~~OF ~~or Bene~~IN- 1.ATIVE ofPRICE ~~action~~OF ~~Code~~ATIVE ~~of(D)~~AND ~~(Month/Day/Year)~~OF ~~Amount~~ATIVE ~~ative~~ATIVE ~~at End In~~DERIV- ~~ficial~~DIRECT ~~Title~~SECURITY ofDERIVATIVE ~~Deriv~~SECURI- ~~Date~~EXPIRA- ~~(Instr. (Instr. 3,~~ UNDER-~~---------------~~ orSECURITY ~~Secur~~SECURI- ofATIVE ~~direct Owner~~BENE- ~~Derivative ative~~ (~~Month/ 8~~INST.3) 4SECURITY ~~and~~TIES 5)TION ~~Date~~LYING ~~Expira- Number ity Month~~ (IINST.5) ~~ship~~TIES ~~Security~~SECURITY ~~Secur-~~FICIAL ~~Day/~~ACQUIRED ~~------~~DATE SECURI-~~-----------~~ ~~Exer~~BENE- ~~tion~~DIRECT of (~~Instr.~~D) ~~(Instr.~~OWNER- (~~Instr.~~A) ~~(Instr.~~OR (~~Instr. 3~~M/D/Y) ~~ity~~TIES ~~Year)~~FICIALLY ~~Code~~OR VSHIP DISPOSED (A)INST. OWNED INDIRECT (D) ~~cisable~~3 ~~Date~~& ~~Title~~4) ~~Shares~~AT 5)END 4(I) 4)OF 4)MONTH ----------------------------------------------------------------------------------------~~--------------------------------------------~~ ~~------------------------------------------------------------------------------------------------------------------------------------~~CODE ~~None~~V ~~------------------------------------------------------------------------------------------------------------------------------------~~(A) ~~------------------------------------------------------------------------------------------------------------------------------------~~(D) ~~------------------------------------------------------------------------------------------------------------------------------------~~DATE EXPIR-~~-----------------------------------------------------------------------------------------------------------------------------------~~ ~~------------------------------------------------------------------------------------------------------------------------------------~~TITLE ~~------------------------------------------------------------------------------------------------------------------------------------~~AMT. EXER-~~-----------------------------------------------------------------------------------------------------------------------------------~~ ~~------------------------------------------------------------------------------------------------------------------------------------~~ATION ~~------------------------------------------------------------------------------------------------------------------------------------~~OR CISABLE DATE NO. OF SHARES -----------------------------------------------------------------------------------------------------------------------------------~~- ====================================================================================================================================~~

EXPLANATION OF RESPONSES: /s/ Joseph P. Nolan 4/10/2002 --------------------------------- ----------- SIGNATURE OF REPORTING PERSON DATE 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). FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED. IF SPACE IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE.

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