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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
Spacetec IMC Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
846281-10-3
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 4 Pages
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CUSIP NO. 8462281-10-3 13G PAGE 2 OF 4 PAGES
- ----------------------- ---------------------
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gain Family Trust
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Massachusetts
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SOLE VOTING POWER
5
NUMBER OF 1,242,590
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 1,242,590
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,242,590
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
17.16%
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TYPE OF REPORTING PERSON*
12
00
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Page 3 of 4 Pages
SCHEDULE 13G
Item 1: (a) Name of Issuer: Spacetec IMC Corporation
(b) Address of Issuer's Principal Executive Offices: The Boott Mill,
100 Foot of John Street, Lowell, Massachusetts 01852-9126
Item 2: (a) Name of Person(s) Filing: Gain Family Trust
(b) Address of Principal Business Office: 30 Boren Lane
Boxford, MA 01921
(c) Citizenship: Massachusetts
(d) Title of Class of Securities: Common Stock, $0.01
(e) CUSIP Number: 846281-10-3
Item 3: Not applicable
Item 4 (a) Amount Beneficially Owned: 1,242,590
(b) Percent of Class: 17.16%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 1,242,590
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the disposition of:
1,242,590
(iv) shared power to dispose or to direct the disposition of: 0
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Schedule 13G Page 4 of 4 Pages
Item 5: Ownership of Five Percent or Less of a Class: Not applicable
Item 6: Ownership of More than Five Percent on Behalf of Another Person:
Not applicable
Item 7: Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company: Not
applicable
Item 8: Identification and Classification of Members of the Group: Not
applicable
Item 9: Notice of Dissolution of Group: Not applicable
Item 10: Certification: Not applicable
Date: February 13, 1997
By: /s/ Dennis T. Gain
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Dennis T. Gain, Trustee
for
Gain Family Trust
