U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
Check this box if no longer STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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 2.Issuer Name and 6.Relationship of Reporting
Reporting Person Ticker or Trading Symbol Person to Issuer(Check all applicable)
Shepherd John D. Lincoln Logs Ltd./LLOG __X__ Director __X__ 10% Owner
(Last) (First) (Middle) 3. IRS or 4. Statement for __X__ Officer (give ___ Other (specify
Social Month / Year title) below)
1020 Sport Hill Road Security
(Street) Number of 5/01 CEO & President
Reporting 5. If Amendment,
Easton CT 06612 Person Date of Original
(City)(State)(Zip) (Voluntary) Month / Year)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially
Owned
1.Title of 2.Trans- 3.Trans- 4.Securities Acquired(A) 5.Amount of 6.Owner- 7.Nature
Security action action or Disposed of(D) Securities ship of In-
(Instr.3) Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
Month/ (Instr. 8) Owned at Direct Bene-
Day/ End of (D) or ficial
Year Month Indirect Owner-
Amount (A) or Price (Instr. 3 & 4) (I) ship
(D) (Instr. 4) (Instr. 4)
Common Stock 5,014,461 D
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
Form 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1.Title of 2.Conver- 3.Trans- 4.Transac- 5.Number of 6.Date Exer- 7.Title and 8.Price 9. Number 10.Owner- 11.Na-
Derivative sion or action tion Code Derivative cisable and Amount of of of Deriv- ship ture
Security Exercise Date Securities Expiration Underlying Deriv- ative Form of In-
(Instr. 3) Price of (Month/ (Instr. 8) Acquired(A) Date Securities ative Secur- of De- direct
Deriv- Day/ or Disposed (Month/Day (Instr 3 Secur- ities rivative Bene-
ative Year) of(D) /Year) and 4) ity Bene- Secur- ficial
Security (Instr 3, (Instr. ficially ity: Own-
4 and 5) 5.) Owned Direct ership
at End (D) or
Date Expira- ofMonth Indi- (Instr 4)
Exer- tion Title Amount or rect (I)
cisable Date Number of (Instr 4)
Shares
(A) (D)
Series B
Convertible
Subordinated Common
Debenture $.20 5/14/01 P $10,000 2/16/98 5/15/03 Stock 50,000 $.20 $10,000 D
______________________________________________________________________________
Explanation of Responses:
/S/ John D. Shepherd May 21, 2001
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** Intentional misstatements or
omissions of facts constitute Federal
Criminal Violations. ** Signature of Reporting Person Date
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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