<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
Q-ZAR INC.
(NAME OF ISSUER)
COMMON SHARES, NO PAR VALUE
(TITLE OF CLASS OF SECURITIES)
746928-10-0
(CUSIP NUMBER)
ALAN P. MCDONALD
PRESIDENT
SEIBU CORPORATION
4231 TRAVIS STREET, #28
DALLAS, TEXAS 75205
(214) 520-6466
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
APRIL 9, 1997
(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. [ ]
*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 1 of 6
<PAGE> 2
CUSIP NO. 746928-10-0 SCHEDULE 13D/A
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above
Persons
SEIBU CORPORATION 75-2295558
(Name) (I.R.S. Employer Identification Number)
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions)(a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Source of Funds (See Instructions) OO (SEE ITEM 3)
- --------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
(6) Citizenship or Place of Organization SEIBU CORPORATION IS A
CORPORATION INCORPORATED UNDER
THE LAWS OF THE STATE OF TEXAS.
- --------------------------------------------------------------------------------
(7) Sole Voting Power 638,200 COMMON SHARES
Number of ----------------------------------------------
Shares
Beneficially
Owned By (8) Shared Voting Power
Each ----------------------------------------------
Reporting
Person (9) Sole Dispositive 638,200 COMMON SHARES
With ----------------------------------------------
(10) Shared Dispositive Power
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting
638,200 COMMON SHARES
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(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) [ ]
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 2.02(1)
- --------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
- --------------------------------------------------------------------------------
- --------------------
(1) BASED ON COMMON SHARES OUTSTANDING AS OF MARCH 31, 1997 AS REPORTED TO
SEIBU CORPORATION BY Q-ZAR INC.
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<PAGE> 3
The Schedule 13D filed by the Reporting Person with the Securities and
Exchange Commission on October 22, 1996 and amended on December 16, 1996 is
hereby further amended as follows:
ITEM 1. SECURITY AND ISSUER
No modification.
ITEM 2. IDENTITY AND BACKGROUND
No modification.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
No modification.
ITEM 4. PURPOSE OF TRANSACTION
No modification.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5(a)
As previously disclosed, on February 12, 1996, Q-Zar Inc., a
corporation incorporated under the laws of New Brunswick, Canada ("Q-Zar"), and
Seibu Corporation, a corporation incorporated under the laws of Texas
("Seibu"), entered into a Share Purchase Agreement (the "Agreement") pursuant
to which Seibu agreed to sell and Q-Zar agreed to purchase all of the issued
and outstanding common stock of Entertainment Technologies, Inc., a wholly
owned subsidiary of Seibu, in exchange for Common Shares and a Script
Certificate (the "Script Certificate") of Q-Zar.
The closing of the transactions contemplated by the Agreement occurred
on February 26, 1996. At the closing, Seibu acquired 788,955 Common Shares of
Q-Zar and the Script Certificate, representing the right to receive an
indeterminate number of additional Common Shares of Q-Zar (not to exceed
941,176) on December 16, 1996.
On December 16, 1996, the Script Certificate matured and Seibu
acquired 814,869 Common Shares of Q-Zar in accordance with the formula set
forth in the Agreement and Seibu surrendered the Script Certificate to Q-Zar
for cancellation. The event was reported in Amendment No. 1 to the Schedule
13D.
During the period from December 16, 1996 through April 9, 1997, the
date of this Amendment No. 2, Seibu sold an aggregate of 750,224 Common Shares
of Q-Zar in open market transactions on The Toronto Stock Exchange as disclosed
in Item 5(c) below.
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<PAGE> 4
As of April 9, 1997, Seibu was the beneficial owner of 638,200 Common
Shares of Q-Zar. Based on the number of Common Shares outstanding as of March
31, 1997 as disclosed to Seibu by Q-Zar (31,582,931), Seibu is the beneficial
owner of approximately 2.02% of the total outstanding Common Shares of Q-Zar.
Item 5(b)
Seibu has the sole power to vote or to direct the vote and the sole
power to dispose or to direct the disposition of the Common Shares of Q-Zar
that it currently beneficially owns.
Andrew N. Adler and Alan P. McDonald, the executive officers and
directors of Seibu, each own 25% of the issued and outstanding capital stock of
Seibu. Other than the indirect beneficial ownership by Seibu, neither of them
own any Common Shares of Q-Zar.
Item 5(c)
The following tabulation describes all transactions by Seibu in the
Common Shares of Q-Zar that were effected since the most recent filing of an
Amendment to the Schedule 13D.
<TABLE>
<CAPTION>
========================================================================================================
Date Type of Transaction Number of Shares Price Per Share
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
01-24-97 Sale 15,000 4.1566
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01-27-97 Sale 23,355 4.375
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01-27-97 Sale 1,000 4.33
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01-28-97 Sale 3,000 4.45
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01-29-97 Sale 10,000 4.44
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01-30-97 Sale 7,300 4.375
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02-05-97 Sale 6,000 4.25
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02-06-97 Sale 9,100 4.38
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02-10-97 Sale 3,200 4.31
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02-13-97 Sale 3,400 4.275
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02-18-97 Sale 60,000 4.236
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02-19-97 Sale 3,300 4.32
- --------------------------------------------------------------------------------------------------------
02-20-97 Sale 14,800 4.355
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02-21-97 Sale 330,000 4.255
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03-14-97 Sale 10,000 4.94
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03-17-97 Sale 10,000 5.05
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03-18-97 Sale 20,000 5.06
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03-19-97 Sale 20,769 5.11
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03-21-97 Sale 10,000 5.10
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03-25-97 Sale 25,000 5.075
- --------------------------------------------------------------------------------------------------------
</TABLE>
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<PAGE> 5
<TABLE>
<CAPTION>
========================================================================================================
Date Type of Transaction Number of Shares Price Per Share
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
04 04 97 Sale 15,000 4.61
- --------------------------------------------------------------------------------------------------------
04-09-07 Sale 150,000 4.30
- --------------------------------------------------------------------------------------------------------
TOTAL 750,224
========================================================================================================
</TABLE>
Item 5(d)
No modification.
Item 5(e)
No modification.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
No modification.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
No modification.
Page 5 of 6
<PAGE> 6
SIGNATURES
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.
April 9, 1997
SEIBU CORPORATION
By: /s/ ALAN P. MCDONALD
----------------------------------
Alan P. McDonald, President
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