UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No ___)
The Ashton Technology Group, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01
- --------------------------------------------------------------------------------
(Title of Class of Securities)
045084-10-0
- --------------------------------------------------------------------------------
(CUSIP Number)
Louis J. Bevilacqua, Esq., Cadwalader Wickersham & Taft, 100 Maiden Lane,
New York, NY 10038
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 12, 1996
- --------------------------------------------------------------------------------
(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 |_|.
Check the following box if a fee is being paid with the statement . (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13-1(a) for other parties to whom copies are to be
sent.
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
disclosures provided in a prior cover page.
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>
SCHEDULE 13D
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fredric W. Rittereiser
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [x]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 513,500
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON
WITH 10 SHARED DISPOSITIVE POWER
513,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
<PAGE>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert A. Eprile
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. ------
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
750,000
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 750,000
PERSON
WITH 10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John A. Blohm
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
12,500
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 12,500
PERSON
WITH 10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Dover Group, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [x]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
513,500
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 513,500
PERSON
WITH 10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dr. F.E. Weimmer, Jr.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
130,000
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 513,500
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 130,000
PERSON
WITH 10 SHARED DISPOSITIVE POWER
513,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
F.E. Weimmer, Sr.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
10,000
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 513,500
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 10,000
PERSON
WITH 10 SHARED DISPOSITIVE POWER
513,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
F.E. Rittereiser, Sr.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
75,000
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 513,500
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 75,000
PERSON
WITH 10 SHARED DISPOSITIVE POWER
513,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tom Rittereiser, as Trustee for Alexis J. Rittereiser, Amanda Weimmer,
and John Weimmer
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[x] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
110,000
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 513,500
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 110,000
PERSON
WITH 10 SHARED DISPOSITIVE POWER
513,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,601,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.17%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE>
This Statement relates to shares of Common Stock, $.01 par value per share,
(the "Common Stock"), of The Ashton Technology Group, Inc. (the "Issuer" or the
"Company"). Robert A. Eprile ("Eprile") filed his initial Schedule 13D on July
22, 1996 to report ownership of shares of the Common Stock. Eprile filed
Amendment Number 1 to his Schedule 13D on July 2, 1996. Eprile filed Amendment
Number 2 to his Schedule 13D on September 6, 1996. The Dover Group, Inc.
("Dover"), F.E. Weimmer, Sr., Dr. F.E. Weimmer, Jr., F.E. Rittereiser, Sr., and
Tom Rittereiser as Trustee for A.J. Rittereiser, A. Weimmer, and J. Weimmer
("Tom Rittereiser as Trustee"), filed their initial Schedule 13D on May 2, 1996,
and filed Amendment No. 1 to their Schedule 13D on May 31, 1996. This Schedule
13D is filed on behalf of Fredric W. Rittereiser ("Rittereiser"), Eprile, Dover,
John A. Blohm ("Blohm"), F.E. Weimmer, Sr., Dr. F.E. Weimmer, Jr., F.E.
Rittereiser, Sr., and Tom Rittereiser as Trustee (each of the foregoing persons,
a "Reporting Person"). The Reporting Persons may be deemed to constitute a
"group" under Regulation 13D. This Statement amends and supplements any previous
Regulation 13D filings made regarding the Issuer by Eprile, Dover, F.E. Weimmer,
Sr., Dr. F.E. Weimmer, Jr., F.E. Rittereiser, Sr., and Tom Rittereiser as
Trustee.
Item 1. Security and Issuer
The Issuer's principal executive office is located at 10420 Little Patuxent
Parkway, Suite 490, Columbia, Maryland 21044-3559.
Item 2. Identity and Background
1. (a) Fredric W. Rittereiser
(b) c/o The Dover Group, Inc., 17 Route 37 East, Toms River, NJ
08753.
(c) Management Consultant, Chairman of the Board of Directors and
Chief Executive Officer of The Dover Group, Inc., a stockholder of
the Issuer.
(d) No.
(e) Rittereiser served as President of Sherwood Capital Corp.
("Sherwood"), a broker-dealer in securities from February, 1987
through October, 1988. In May of 1993, a former customer of
Sherwood brought an action naming as Respondents Sherwood, the
account executive who had previously serviced the customer's
account, the branch manager of the location where the customer's
account had previously been maintained and Rittereiser, as
President of Sherwood. The customer alleged that as a result of
the account executive having made unsuitable investment
recommendations, he had incurred losses for which Sherwood, the
branch office manager and Rittereiser were jointly and severally
liable as a result of their alleged failure to have properly
supervised the account executive.
In August of 1993, the customer and Sherwood executed a Release
and Settlement Agreement which provided, in pertinent part, that
the customer would withdraw all claims that had been asserted
against Sherwood and its affiliated parties (including former
officers) and that the customer would release Sherwood and such
affiliated parties from all further claims.
Based in part on Rittereiser's belief that as an officer he was an
affiliated party of Sherwood who was indemnified and therefore
covered by the Release and Settlement Agreement, as well as the
fact that Rittereiser was not served with a copy of the customer's
Statement of Claim, Rittereiser did not respond to the customer's
allegations. In April of 1994, notwithstanding the Release and
Settlement Agreement and the fact that Rittereiser was not then a
member of the NASD, a default award was entered against
Rittereiser and the other individual Respondents in the amount of
$33,500 together with the costs in the amount of $1,700.
Rittereiser did not pay this arbitration award and, as a result
thereof, his registration as a member of the NASD was revoked on
or about September of 1994. Rittereiser has retained counsel for
the purpose of setting aside or otherwise rescinding such
revocation.
(f) U.S.A.
2. (a) Robert A. Eprile.
(b) 124 West 60th Street, Ste. 18D, New York, New York 10023.
(c) Director of the Issuer, Director, President and Chief
Operating Officer of Universal Trading Technologies Corporation,
an approximately 80% owned subsidiary of the Issuer.
(d) No.
(e) No.
(f) United States
3. (a) John A. Blohm
(b) 704 Squires Road, Towson, MD 21286
(c) Director of the Issuer and Executive Vice President of
Universal Trading Technologies Corporation ("UTTC").
(d) No.
(e) No.
(f) U.S.A.
4. (a) The Dover Group, Inc.
(b) 17 Route 37 East, Toms River, NJ 08753.
(c) Stockholder of the Issuer.
(d) Not applicable.
(e) See Item 4 of this Schedule 13D.
(f) Delaware.
5. (a) Dr. F.E. Weimmer, Jr.
(b) c/o The Dover Group, Inc., 17 Route 37 East, Toms River, NJ
08753.
(c) Chiropractor. President and Director of The Dover Group, Inc.,
a stockholder of the Issuer.
(d) No.
(e) No.
(f) U.S.A.
6. (a) F.E. Weimmer, Sr.
(b) c/o The Dover Group, Inc., 17 Route 37 East, Toms River, NJ
08753.
(c) Retired. Director of The Dover Group, Inc., a stockholder of
the Issuer.
(d) No.
(e) No.
(f) U.S.A.
7. (a) F.E. Rittereiser, Sr.
(b) c/o The Dover Group, Inc., 17 Route 37 East, Toms River, NJ
08753.
(c) Retired. Director of The Dover Group, Inc., a stockholder of
the Issuer.
(d) No.
(e) No.
(f) U.S.A.
8. (a) Tom Rittereiser, as Trustee for Alexis J. Rittereiser, Amanda
Weimmer and John Weimmer.
(b) c/o The Dover Group, Inc., 17 Route 37 East, Toms River, NJ
08753.
(c) Retired. Director of The Dover Group, Inc., a stockholder of
the Issuer.
(d) No.
(e) No.
(f) U.S.A.
Item 3. Source and Amount of Funds or Other Consideration
Not applicable.
Item 4. Purpose of Transaction
At the time the Reporting Persons received their stock and until recently,
none of the Reporting Persons had any plan, proposal, or intention which relates
to or would result in any action with respect to the matters listed in
paragraphs (b) through (j) of Item 4 of Schedule 13D.
However, recently a number of concerns regarding the Issuer and certain
members of the Issuer's management have been raised by Eprile. Such concerns
were summarized in letters to the Issuer dated August 21, 1996, August 27, 1996
and August 31, 1996 (the "Letters"). On September 6, 1996, Eprile filed
Amendment No. 2 to his Schedule 13D, stating that he believes the issues in the
Letters have not been adequately addressed by the Issuer's management and that
he would review alternatives with respect to his investment in the Common Stock.
In addition, Eprile discussed his concerns with Blohm and Rittereiser.
The Reporting Persons have concluded that the issues raised in the Letters
have not been adequately addressed by the Issuer, and are concerned that the
Issuer's management is not taking appropriate measures to protect the interests
of the Issuer's stockholders and to enhance the value of the stockholders'
investments in the Issuer.
Because of their concerns, Eprile, Blohm and Rittereiser have jointly
engaged legal counsel to review alternatives with respect to their investment
positions in the Common Stock, including the advisability of and the available
means for seeking increased representation on the Board of Directors and seeking
proxies and written consents from other stockholders of the Issuer. No decision
with regard to those alternatives has yet been made.
Item 5. Interest in Securities of the Issuer
(a) According to the Issuer's Form 10-QSB for the period ending June 30,
1996, the Issuer had issued and outstanding 7,562,500 shares of Common Stock.
Eprile is the beneficial owner of 750,000 shares or 9.9% of the outstanding
Common Stock. Blohm is the beneficial owner of 12,500 shares or 0.17% of the
outstanding Common Stock. The shares of Common Stock held by John A. Blohm
exclude 350,000 options, 70,000 exercisable on April 1, 1997, 70,000 on April 1,
1998, and 210,000 on April 1, 1999. F.E. Weimmer, Jr., F.E. Weimmer, Sr., and
F.E. Rittereiser, Sr. are the beneficial owners of 130,000, 10,000 and 75,000
shares of Common Stock, respectively, or 1.72%, 0.13% and 0.99%, respectively,
of the total outstanding Common Stock. As trustee for Alexis J. Rittereiser,
Amanda Weimmer and John Weimmer, Tom Rittereiser is the beneficial owner of
110,000 shares or 1.45% of the total shares of Common Stock outstanding. The
shares of Common Stock held by Tom Rittereiser as Trustee exclude 40,000 shares
owned by Donna Rittereiser, wife of Tom Rittereiser, to which he disclaims
beneficial ownership.
Rittereiser is not the record holder of any shares of Common Stock.
However, as Chairman of Dover, Rittereiser may be deemed to be the beneficial
owner of the 513,500 shares of Common Stock held of record by Dover, or 6.79% of
the outstanding Common Stock. Tom Rittereiser, F.E. Rittereiser, Sr., F.E.
Weimmer, Sr., and F.E. Weimmer, Jr. are each directors of Dover and may
therefore be deemed to beneficially own the 513,500 shares of Common Stock held
of record by Dover. The shares of Common Stock held by The Dover Group, Inc.
exclude 260,000 warrants exercisable on May 2, 1997 and expiring on May 2, 2002.
As disclosed in Item 4, each of the Reporting Persons has had discussions
concerning possible alternatives with respect to their holdings of the Common
Stock. Therefore, the Reporting Persons may constitute a group for purposes of
Regulation 13D. As a member of a group, each of the Reporting Persons may be
deemed to beneficially own the shares of Common Stock beneficially owned by each
of the other Reporting Persons, which in the aggregate is 1,601,000 shares of
Common Stock or 21.17% of the total shares of Common Stock outstanding.
Neither the filing of this Schedule 13D nor any of its contents shall be
deemed to constitute an admission that any Reporting Person is the beneficial
owner of any of the shares of Common Stock owned by another Reporting Person for
purposes of Section 13(d) of the Exchange Act or for any other purpose, and such
beneficial ownership is expressly disclaimed.
<PAGE>
(b)
<TABLE>
<CAPTION>
Dr. F.E. F.E. F.E. Tom
Fredric W. Robert A. John A. The Dover Weimmer, Weimmer, Rittereiser, Rittereiser
Rittereiser Eprile Blohm Group, Inc. Jr. Sr. Sr. as Trustee
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Sole Power to -0- 750,000 12,500 513,500 130,000 10,000 75,000 110,000
vote/ direct
vote
Shared Power 513,500 -0- -0- -0- 513,500 513,500 513,500 513,500
to vote/direct
vote
Sole Power to -0- 750,000 12,500 513,500 130,000 10,000 75,000 110,000
dispose/
direct
disposition
Shared Power 513,500 -0- -0- -0- 513,500 513,500 513,500 513,500
to dispose/
direct
disposition
</TABLE>
<PAGE>
(c) During the past sixty days, the following transactions in the
Common Stock were effected:
On March 15, 1996, Eprile granted to Dover options to purchase
350,000 shares of the Issuer's common stock held by Eprile. The
exercise price of the options is $1.50 per share, of which Eprile
received $.10 per share in consideration of the grant of the
options. Subsequent to March 15, 1996, Dover assigned the
aforesaid options to Antebe Investment Gp. Ltd., which options
were exercised on July 2, 1996.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
None.
Item 7. Material to Be Filed as Exhibits
None.
<PAGE>
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.
Dated: September 13, 1996
Fredric W. Rittereiser Robert A. Eprile
/s/ Fredric W. Rittereiser /s/ Robert A. Eprile
John A. Blohm The Dover Group
/s/ John A. Blohm /s/ Fredric W. Rittereiser
Name: Fredric W. Rittereiser
Title: Chairman
Dr. F.E. Weimmer, Jr. F.E. Weimmer, Sr.
/s/ Dr. F.E. Weimmer, Jr. /s/ F. E. Weimmer, Sr.
F.E. Rittereiser, Sr. Tom Rittereiser as Trustee
/s/ F.E. Rittereiser, Sr. /s/ Tom Rittereiser as Trustee
