SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
Million Dollar Saloon, Inc.
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(Name of Issuer)
Common Stock,par value $0.01 per share
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(Title of Class of Securities)
601065105
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(CUSIP Number)
Richard B. Goodner
901 Main Street, Suite 6000
Dallas, Texas 75202
(214)953-6000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 18, 2000
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(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box o.
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
The information required on 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).
Page 1
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CUSIP NO.601065105 13D Page 2
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Nick Mehmeti
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(a) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,019,787
OWNED BY -----------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 400,000 (options to purchase shares held jointly
WITH with another individual.)
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9 SOLE DISPOSITIVE POWER
2,019,787
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10 SHARED DISPOSITIVE POWER
400,000 (options to purchase shares held jointly
with another individual.)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,419,787 (includes options to purchase shares held jointly with
another individual.)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.2%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO.601065105 13D Page 3
The summary descriptions contained in this report of certain agreements
and documents are qualified in their entirety by reference to the complete texts
of those agreements and documents filed as Exhibits to this Statement and
incorporated herein by reference.
Item 1. Security and Issuer.
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The title and class of equity securities to which this Statement
relates is the common stock, $0.001 par value per share, (the "Common Stock") of
Million Dollar Saloon, Inc., a Nevada corporation ("Million Dollar").
The address of the principal executive offices of Million Dollar is
6848 Greenville Avenue, Dallas, Texas 75231.
Item 2. Identity and Background.
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The name, residence or business address and principal occupation of
each of the Reporting Persons is set forth below. None of the Reporting Persons
has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) in the past five years. In the past five years, none of
the Reporting Persons was a party to a civil proceeding of a judicial or
administrative body of a competent jurisdiction which resulted in such person
being subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws. All of the
natural persons who are Reporting Persons are citizens of the United States.
Reporting Person Principal Address Principal Occupation/Business
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Nick Mehmeti P.O. Box 540938 Investor
Dallas, Texas 75354
Item 3. Source and Amount of Funds or Other Consideration.
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See Item 4 below.
Item 4. Purpose of Transaction.
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On January 18, 2000, Nick Mehmeti ("Mehmeti") and Duncan Burch
("Burch") acquired in a private transaction 3,351,574 shares of the common stock
of Million Dollar Saloon, Inc. (the "Company") from W-W Investments, LLP, a
Texas registered limited liability partnership ("W-W"), Linda Weaver ("Weaver"),
Steven Wheeler ("Wheeler"), Diamond Production, L.L.C., an Oklahoma registered
limited liability company ("Diamond LLC"), and Diamond Production of Oklahoma,
L.P., an Oklahoma limited partnership ("Diamond LP"), for $3,854,310.10 ($1.15
per share). The 3,351,574 shares of the Company's common stock acquired by
Mehmeti and Burch represents approximately 58.5% of the outstanding 5,731,778
shares of the Company's common stock. Mehmeti and Burch will
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CUSIP NO.601065105 13D Page 4
each hold 1,675,787 of these shares. In addition to the purchase of these
shares, Weaver assigned to Mehmeti and Burch, collectively, an option she held
from the Company to purchase an additional 400,000 shares of common stock for
$440,000 or $1.10 per share which expires October 18, 2004.
As part of the transaction, the number of members on the board of
directors of the Company was increased to three. Mike Garrett then resigned as a
director and Mehmeti and Burch were elected to fill the vacancy created by the
resignation of Michael Garrett and the newly created third directorship.
As a result of the acquisition of the 3,351,574 shares of the Company's
common stock, Mehmeti now beneficially owns directly and indirectly 2,019,787
shares or approximately 35.2% of the Company's issued and outstanding shares of
common stock. Mehmeti had previously acquired 344,000 shares of Company common
stock. Burch now beneficially owns directly and indirectly 1,675,787 shares or
approximately 29.2% of the Company's issued and outstanding shares of common
stock. Collectively, Mehmeti and Burch now beneficially own directly and
indirectly 3,695,574 shares or approximately 64.5% of the Company's issued and
outstanding shares of common stock.
The purchase price of $3,854,310.10 was paid to W-W, Weaver, Wheeler,
Diamond LLC and Diamond LP pro-rata based on each entity's respective interest
in the shares sold as follows. Weaver, Wheeler, Diamond LLC and Diamond LP
received a cash payment of $1,228,517.40. W-W received a cash payment of
$1,787,899.20 and the remaining $837,893.50 of the purchase price due to W-W was
financed by W-W. Such financing was evidenced by a promissory note executed by
Mehmeti and Burch collectively. The note shall be repaid over a five year term
in sixty equal monthly installments of principal and interest with the unpaid
balance bearing interest at a rate of 7 1/2% per annum. The note is secured by a
stock pledge agreement whereby Mehmeti and Burch have pledged 1,000,000 shares
of the Company's common stock as collateral for the repayment of the note. The
cash payments described herein were made out of Mehmeti's and Burch's personal
funds.
Item 5. Interest in Securities of the Issuer.
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The contents of the cover pages of this Statement are incorporated by
reference into this Item 5 for each Reporting Person. Other than as identified
herein, there have been no transactions in Million Dollar Common Stock during
the 60 days prior to January 18, 2000 (the date of event which requires filing
this Statement) by Nick Mehmeti.
Item 6. Contracts, Arrangements, Understandings or Relationships with
- ------ Respect to Securities of the Issuer.
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Except as set forth herein, to the knowledge of the Reporting Persons
there are no contracts, arrangements, understandings or relationships (legal or
otherwise) among any Reporting Persons and any other person with respect to any
securities of Million Dollar.
Item 7. Material to be Filed as Exhibits.
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None.
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CUSIP No. 601065105 13D
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.
Date: January 26, 2000 /S/ Nick Mehmeti
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Nick Mehmeti
