SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. ___________)1
Paradigm Advanced Technologies, Inc.
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(Name of Issuer)
Common Stock, Par Value $.0001 Per Share
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(Title of Class of Securities)
699004107
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(CUSIP Number)
C-SAW Investments Ltd.
80 Broad Street, 26th Floor
New York, New York 10004
Attention: Mr. George Guttman
(212) 293-9034
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
July 15, 1998
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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(e), 13d-1(f) or 13d-1(g) check the
following box |_|.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
(Continued on following pages)
Page 1 of 6
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1 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 lass 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>
CUSIP No. 699004107 13D Page 2 of 6
Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
C-Saw Investments Ltd.
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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*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) |X|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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7 SOLE VOTING POWER
NUMBER OF 4,400,000
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY N/A
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 4,400,000
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WITH 10 SHARED DISPOSITIVE POWER
N/A
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,400,000
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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)
14.8%
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14 TYPE OF REPORTING PERSON
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Item 1. Security and Issuer.
This Statement relates to the common stock, par value $.0001 per share
(the "Common Stock"), of Paradigm Advanced Technologies, Inc. (the "Issuer").
The address of the principal executive offices of the Issuer is 270 Drumlin
Circle, Concord, Ontario, Canada L4K 3E2.
Item 2. Identity and Background.
The person filing this Statement is C-Saw Investments Ltd. (the "Reporting
Person"). The Reporting Person is a corporation organized under the laws of
Canada. The principal business of the Reporting Person is investment and
financial consulting. The address of the principal business and principal office
of the Reporting Person is 120 Adelaide Street West, Suite 1214, Toronto,
Ontario M5H 3P5, Canada. During the last five years, the Reporting Person has
not been convicted in a criminal proceeding (excluding traffic violations and
similar misdemeanors). During the last five years, the Reporting Person has not
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding has been or is 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.
Mr. George Guttman is the President and a Director of the Reporting Person
and owns 50% of the Reporting Person. Mr. Guttman's business address is 120
Adelaide Street West, Suite 1214, Toronto, Ontario M5H 3P5, Canada. Mr. Guttman
is a United States citizen. Mr. Guttman's present principal occupation is Vice
President of the Reporting Person. In September 1996, when Mr. Guttman was a
registered representative of an NASD member firm, certain of his customers
alleged that he engaged in unauthorized transactions in their accounts. Mr.
Guttman denied such allegations. In December 1997, for the purpose of
settlement, Mr. Guttman submitted to NASD Regulation, Inc. a Letter of
Acceptance, Waiver and Consent (the "LAWC"). In the LAWC, Mr. Guttman accepted
and consented, without admitting or denying the alleged violations, (i) to
certain findings by NASD Regulation, Inc, (ii) to a fine and (iii) to a 12-month
bar from associating with any NASD member firm, with the right to reapply and
requalify for association after such time.
Mr. J.P. Solmes is the Vice President and a Director of the Reporting
Person and owns 50% of the Reporting Person. Mr. Solmes' business address is 120
Adelaide Street West, Suite 1214, Toronto, Ontario M5H 3P5, Canada. Mr. Solmes'
present principal occupation is not as Vice President of the Reporting Person
but as an investor for certain other companies not affiliated with the Reporting
Person. During the last five years, Mr. Solmes has not been convicted in a
criminal proceeding (excluding traffic violations and similar misdemeanors) and
has not been a party to a civil proceeding of a judicial or administrative body
of competent jurisdiction nor as a result of such proceeding has been or is
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. Ms. Solmes is a Canadian
citizen.
Page 3 of 6
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Item 3. Source and Amount of Funds or Other Consideration.
The source of funds used in making the purchases described herein was
internal funds of the Reporting Person constituting working capital. The
aggregate amount of the purchase price was two million one hundred thirty-four
thousand seven hundred Dollars ($2,134,700).
Item 4. Purpose of the Transaction.
The acquisition of the Common Stock of the Issuer was made by the
Reporting Person for investment purposes only. The Reporting Person does not
have any plans or proposals which relate to or would relate to: (a) the
acquisition by any person of additional securities of the issuer, or the
disposition of securities of the issuer; (b) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving the
issuer or any of its subsidiaries; (c) a sale or transfer of a material amount
of assets of the issuer or any of its subsidiaries; (d) any change in the
present board of directors or management of the issuer, including any plans or
proposals to change the number or term of directors or to fill any existing
vacancies on the board; (e) any material change in the present capitalization or
dividend policy of the issuer; (f) any other material change in the issuer's
business or corporate structure, including but not limited to, if the issuer is
a registered closed-end investment company, any plans or proposals to make any
changes in its investment policy for which a vote is required by section 13 of
the Investment Company Act of 1940; (g) changes in the issuer's charter, bylaws
or instruments corresponding thereto or other actions which may impede the
acquisition of control of the issuer by any person; (h) causing a class of
securities of the issuer to be delisted from a national securities exchange or
to cease to be authorized to be quoted in an inter-dealer quotation system of a
registered national securities association; (i) a class of equity securities of
the issuer becoming eligible for termination of registration pursuant to Section
12(g)(4) of the Act; or (j) any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
(a) The Reporting Person holds beneficial ownership of 4,520,000 shares of
Common Stock, constituting approximately 14.8% of the issued and outstanding
shares of Common Stock. The number of issued and outstanding shares of Common
Stock upon which the foregoing percentages were based is was supplied by the
Issuer as of the date hereof.
(b) The Reporting Person has the sole power to vote or to direct the vote,
and the sole power to dispose or direct the disposition, of all of the shares of
Common Stock beneficially owned by it.
(c) Within the past sixty days, the following transactions in the Common
Stock were effected by the Reporting Person:
(i) On June 9, 1998, the Reporting Person purchased 1,250,000 shares
of Common Stock in a private placement at a price per share of $.50.
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(ii) On July 14, 1998, the Reporting Person purchased 25,000 shares
of Common Stock in the open market at a price per share of $.065.
(iii) On July 15, 1998, the Reporting Person purchased 3,000,000
shares of Common Stock in a private placement at a price per share of
$.50.
(iv) On July 15, 1998, the Reporting Person purchased 20,000 shares
of Common Stock in the open market at a price per share of $.0625.
(v) On July 22, 1998, the Reporting Person purchased 50,000 shares of
Common Stock in the open market at a price per share of $.065.
(d) Neither the Reporting Person, nor to the knowledge of the Reporting
Person any other person, has knowledge of any person other than the Reporting
Person having the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, Common Stock.
(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 5 of 6
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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: August 21 1998
C-SAW INVESTMENTS LTD.
By:_/s/ George Guttman___________
George Guttman
President
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