UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
BAXTER, JAMES N.
39 Neck Road
Madison, CT 06443
2. Issuer Name and Ticker or Trading Symbol
ACOLA CORP. (ACAC)
3. I.R.S. Identification Number of Reporting Person,
if an entity (Voluntary)
4. Statement for Month/Day/Year
1/13/2003
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[X] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
President
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
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
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Common Stock, Class A 01/13/03 A 1,100,000 (1) A $.008 1,100,000 D
Common Stock, Class A 7,701,318 I (2)
Common Stock, Class B 540,000 I (2)
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
N/A Security Code V A D Exercisable Expiration
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N/A
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
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1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities Beneficial D
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
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Explanation of Responses:
(1)The acquisition of shares was pursuant to the issuer's Directors and Employees
Stock Award Plan.
(2)Securities held by Global Investment Alliance Inc. and beneficially owned by
reporting person.
SIGNATURE OF REPORTING PERSON
/S/ James N. Baxter
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James N. Baxter
DATE 01/14/03