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SCHEDULE 13D
(Amendment No. 1)
Under the Securities Exchange Act of 1934
PUROFLOW INCORPORATED
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(Name of Issuer)
Common Stock, $.01 par value
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(Title Class of Securities)
746375104
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(CUSIP Number)
David Alan Miller, Esq.
Graubard Mollen & Miller
600 Third Avenue
New York, New York 10016-2097
Telephone: (212) 818-8800
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Name, Address and Telephone Number of Persons Authorized to Receive Notices
and Communications)
March 17, 1997
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(Date of Event which Requires Filing of this Statement)
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 5 Pages
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SCHEDULE 13D
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CUSIP No. 746375104 Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ronald I. Heller
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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*
N/A
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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
United States
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| 7 SOLE VOTING POWER
|
| 290,090 Shares
NUMBER OF |-----------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY | 36,765 Shares
EACH |-----------------------------------------------------------
REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON |
WITH | 290,090 Shares
|-----------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
| 36,765 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
326,855 Shares
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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)
4.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
Item 1. Security and Issuer
The class of equity securities to which this statement relates
is the common stock, $.01 par value, of Puroflow Incorporated ("Issuer"), a
Delaware corporation, whose principal executive offices are located at 16559
Saticoy Street, Van Nuys, California 91406 ("Common Stock").
The percentage of beneficial ownership reflected in this
Statement is based upon 7,108,521 shares of Common Stock outstanding on April
30, 1997, which number has been obtained from the Issuer's most recently
available filings with the Securities and Exchange Commission.
Item 2. Identity and Background
No change.
Item 3. Source and Amounts of Funds or Other Consideration
No change.
Item 4. Purpose of Transactions
No change.
Item 5. Interest in Securities of the Issuer
(a) Ronald I. Heller ("Heller") and his wife directly own 36,765 shares of
Common Stock and hold such shares in a joint account ("Joint Account"). The
Ronald I. Heller Individual Retirement Account ("IRA"), of which Heller is the
grantor, directly owns 290,090 shares of Common Stock.
(b) Heller has sole voting and dispositive power over the 290,090 shares of
Common Stock held by the IRA and shared voting and dispositive power over the
36,765 shares of Common Stock held in the Joint Account, as described in Item
5(a).
(c) The IRA sold (i) 15,000 shares of Common Stock on March 5, 1997 in the
open market for $.89625 per share; (ii) 44,000 shares of Common Stock on June
20, 1997 in the open market for $.7437 per share; and (iii) 18,500 shares of
Common Stock on June 27, 1997 in the open market for $.765 per share. Manhattan
Group Funding, of which Heller and David S. Nagelberg are the sole partners,
sold 64,376 shares of Common Stock on March 17, 1997 in the open market for
$.908 per share.
(d) Heller's wife shares the right to receive and the power to direct the
receipt of dividends from, or the proceeds from the sale of, the 36,765 shares
of Common Stock held in the Joint Account.
Page 3 of 5 Pages
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(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to the Securities of the Issuer
No change.
Item 7. Material to be Filed as Exhibits
Exhibit 7.1: Form of Registration Rights Agreement, dated as of
June 3, 1996 (previously filed).
The balance of this page has been left blank intentionally.
Page 4 of 5 Pages
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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: July 24, 1997
/s/ Ronald I. Heller
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Ronald I. Heller
Page 5 of 5 Pages
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