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OMB APPROVAL
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OMB Number: 3235-0145
UNITED STATES Expires: August 31, 1999
SECURITIES AND EXCHANGE COMMISSION Estimated average burden
Washington, D.C. 20549 hours per form .......14.90
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)
Orion Acquisition Corp. II
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title Class of Securities)
685924 102
- --------------------------------------------------------------------------------
(CUSIP Number)
MDB Capital Group LLC
100 Wilshire Boulevard
17th Floor
Santa Monica, California 90401
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 10, 1999
- --------------------------------------------------------------------------------
(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 |_|.
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 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 14 Pages
<PAGE>
SCHEDULE 13D
- ---------------------- ---------------------------
CUSIP No. 685924102 Page 2 of 14 Pages
- ---------------------- ---------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
MDB Capital Group LLC
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC - Working Capital
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of California
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
164,375
NUMBER OF -----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 164,365
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
164,365
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.5%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD
- ------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ---------------------- ---------------------------
CUSIP No. 685924102 Page 3 of 14 Pages
- ---------------------- ---------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Anthony DiGiandomenico
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF - Personal 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
United States Citizen
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
41,225
NUMBER OF -----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 164,375(1)
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 41,225
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
164,375(1)
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
205,600
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.1%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
(1) Held in trading account of MDB Capital Group LLC of which Reporting Person
is a member and an operating officer.
<PAGE>
SCHEDULE 13D
- ---------------------- ---------------------------
CUSIP No. 685924102 Page 4 of 14 Pages
- ---------------------- ---------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
James D. Bowyer
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF - Personal 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
United States Citizen
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
56,400(1)
NUMBER OF -----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 164,375(2)
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 56,400 (1)
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
164,375(2)
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
220,775
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.8%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
(1) Includes 43,400 shares held in the James D. Bowyer Pension Plan of which
Reporting Person is the sole trustee.
(2) Held in trading account of MDB Capital Group LLC of which Reporting Person
is a member and an operating officer.
<PAGE>
SCHEDULE 13D
- ---------------------- ---------------------------
CUSIP No. 685924102 Page 5 of 14 Pages
- ---------------------- ---------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Christopher A. Marlett
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF - Personal 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
United States Citizen
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
126,000
NUMBER OF -----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 164,375(1)
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 126,000
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
164,375(1)
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
290,375
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
32.6%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
(1) Held in trading account of MDB Capital Group LLC of which Reporting Person
is a member and an operating officer.
<PAGE>
SCHEDULE 13D
- ---------------------- ---------------------------
CUSIP No. 685924102 Page 6 of 14 Pages
- ---------------------- ---------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Dyana Williams Marlett
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF - Personal 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
United States Citizen
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
68,000
NUMBER OF -----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 68,000
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
68,000
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ---------------------- ---------------------------
CUSIP No. 685924102 Page 7 of 14 Pages
- ---------------------- ---------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Leonard Rothstein
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF - Personal 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
United States Citizen
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
20,000
NUMBER OF -----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 20,000
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,000
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.2%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ---------------------- ---------------------------
CUSIP No. 685924102 Page 8 of 14 Pages
- ---------------------- ---------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
William C. Fioretti
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF - Personal 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
United States Citizen
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
70,000
NUMBER OF -----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 70,000
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
70,000
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.9%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
Item 1. Securities and Issuer
The class of equity securities to which this statement relates is the
Common Stock, $.01 par value, of Orion Acquisition Corp. II ("Company"), a
Delaware corporation, whose principal executive offices are located at 100
Wilshire Boulevard, 17th Floor, Santa Monica, California 90401.
Item 2. Identity and Background
This statement is filed on behalf of MDB Capital Group LLC ("MDB"),
Christopher A. Marlett ("C. Marlett"), James D. Bowyer ("J. Bowyer"), Anthony
DiGiandomenico ("DiGiandomenico"), Dyana Williams Marlett ("D. Marlett"),
Leonard Rothstein ("Rothstein") and William C. Fioretti ("Fioretti"). MDB, C.
Marlett, J. Bowyer, DiGiandomenico, D. Marlett, Rothstein and Fioretti are
collectively referred to as the "Reporting Persons."
MDB's business address is 100 Wilshire Boulevard, 17th Floor, Santa Monica,
California 90401. MDB is a registered broker-dealer and investment firm. C.
Marlett, J. Bowyer and DiGiandomenico are the members of the limited liability
company, MDB. D. Marlett is the Chief Operating Officer of MDB. Each of C.
Marlett, J. Bowyer, DiGiandomenico, D. Marlett and Rothstein is a full-time
employee of MDB and each of their business addresses is the same as that of MDB.
C. Marlett and D. Marlett are husband and wife.
The business address of Fioretti is 6333 North Highway 161, Suite 350,
Irving, Texas 75038. Fioretti is the President of Agritech, Inc., a firm in the
bio-agricultural business.
MDB is a limited liability company organized and existing under the laws of
the State of California. Each of the Reporting Persons who is an individual is a
citizen of the United States.
C. Marlett, J. Bowyer, DiGiandomenico, D. Marlett and Fioretti are officers
and/or directors of the Company. These persons took these positions as a result
of stockholder and board action on April 30, 1999. Their positions with the
Company are not as full-time employees.
None of the Reporting Persons has been convicted in any criminal proceeding
(excluding traffic violations or similar misdemeanors) during the last five
years.
None of the Reporting Persons has been a party to any civil proceeding of a
judicial or administrative body of competent jurisdiction resulting in any
judgment, decree or final order enjoining it from engaging in future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws during the
last five years.
Page 9 of 14 Pages
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration
MDB used corporate working capital funds to acquire the Common Stock
reported upon in this Schedule 13D as owned by it. C. Marlett, J. Bowyer,
DiGiandomenico, D. Marlett, Rothstein and Fioretti used personal funds to
acquire the Common Stock reported upon in this Schedule 13D as owned by them.
Each of these persons, if they make future purchases of the Common Stock, will
use their corporate or personal funds, as the case may be. None of the Reporting
Persons has borrowed and does not contemplate borrowing any funds to acquire
Common Stock.
Item 4. Purpose of Transactions
The Common Stock acquired by MDB was acquired in its trading account in the
course of trading activities as a registered broker-dealer and is being held in
connection with its market making activities. The Common Stock acquired by each
of C. Marlett, J. Bowyer, DiGiandomenico, D. Marlett, Rothstein and Fioretti was
acquired as an investment and is being held as an investment.
The Reporting Persons may undertake one or more of the actions set forth
below.
(a) Each of the Reporting Persons may acquire additional securities
from time to time in the market or in private transactions. None of these
persons has any agreements to acquire any Common Stock at this time, except as
to MDB discussed below.
MDB intends to acquire and dispose of Common Stock on a regular basis to
the extent permitted by law. MDB expects that its holdings of Common Stock in
its trading account will fluctuate over time. MDB may assign shares of Common
Stock in its trading account to its investment account or allocate or sell
shares of Common Stock to C. Marlett, J. Bowyer, DiGiandomenico, D. Marlett,
Rothstein or Fioretti or to other persons in the future. Each of C. Marlett, J.
Bowyer, DiGiandomenico, D. Marlett, Rothstein and Fioretti may sell shares of
Common Stock from time to time, as permitted by law; although currently none of
these Reporting Persons have any intention of selling any of their shares of
Common Stock.
(b) The Company was formed for the specific purpose of identifying an
operating business for acquisition and completing a merger or other business
combination with it. Each of the Reporting Persons intends to cause the Company
to continue this business objective. The Reporting Persons have not identified
at this time any business for acquisition and have no agreements or arrangements
for a merger or other business combination.
(c) The principal asset of the Company is cash. These funds are held in
an escrow account with Chase Manhattan Bank, N.A. and aggregate approximately
$2,080,000. The Reporting Persons intend to cause a termination of the escrow
account. If the escrow account is terminated, the Reporting Persons intend to
cause the distribution of the funds to the Company for use as its working
capital.
Page 10 of 14 Pages
<PAGE>
(d) The Reporting Persons do not intend to cause any additional change
in the current board of directors or management of the Company or change the
number or term of the current directors. There are no vacancies on the current
board of directors of the Company.
(e) The Reporting Persons intend to cause a change in the capital
structure of the Company. The change may be effected by the elimination of some
or all of the outstanding classes of equity securities and/or by modification of
outstanding equity securities and the terms of outstanding options and warrants.
These changes may be effected through negotiation and/or shareholder action.
(f) The Reporting Persons intent to effect a change in the Certificate
of Incorporation to eliminate the requirement that a vote of two-thirds of the
outstanding shares of Common Stock of the Company are required to approve a
business combination. The effect of this may be to permit the Company to enter
into a merger or business combination without the prior approval of the
stockholders of the Company. These changes will be effected through shareholder
action.
The Reporting Persons currently do not intend to make material changes in
the corporate structure, charter, bylaws, or corresponding instruments other
than as described above or take other actions which may impede the acquisition
of control of the Company by any person. Notwithstanding the foregoing,
circumstances may arise where it is advisable to make such changes. It is
expected that in connection with a merger or business combination there will be
changes to the constituent documents of the Company and introduction of various
anti-takeover provisions.
(g) The Reporting Persons do not intend to cause any class of
securities 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; or to cause a class of equity securities of the
Company becoming eligible for termination of registration pursuant to Section
12(g)(4) of the Securities Exchange Act of 1934.
Item 5. Interest in Securities of the Issuer
MDB is the owner of 164,375 shares of Common Stock. All of the shares are
held in the trading account of MDB. MDB beneficially owns 18.5% of the
outstanding shares of Common Stock. This amount reflects the difference between
the aggregate acqisitions and dispositions of the Common Stock by MDB in its
trading account during the last 60 days. Because all the shares of Common Stock
were acquired with voting rights attached, for purposes of the Special Meeting
for which a proxy is being solicited by the Company, MDB has the right to vote
an aggregate of 56,000 shares of Common Stock in addition to what it reports on
this Schedule 13D as beneficially owned at this time, excluding the 128,450
shares of Common Stock sold to the other Reporting Persons because MDB's vote
over such shares will be the same as the Reporting Persons and directed by them.
DiGiandomenico owns 39,225 shares of Common Stock. DiGiandomenico is the
trustee of American Mgmt. Pension Trust which owns 2,000 shares of Common Stock.
DiGiandomenico has sole voting and dispositive power over these 41,225 shares.
DiGiandomenico has shared voting and dispositive power over the 164,375 shares
of Common Stock owned by MDB because he is a member of MDB and one of three
operating persons of MDB. DiGiandomenico is deemed to beneficially own 205,600
shares of Common Stock. DiGiandomenico beneficially owns 23.1% of the
outstanding shares of Common Stock.
J. Bowyer owns 10,000 shares of Common Stock directly and 46,400 shares of
Common Stock indirectly in the James D. Bowyer Pension Plan of which he is the
Page 11 of 14 Pages
<PAGE>
sole trustee. J. Bowyer has sole voting and dispositive power over 56,400 shares
of Common Stock. J. Bowyer has shared voting and dispositive power over the
164,375 shares of Common Stock owned by MDB because he is a member of MDB and
one of the three operating persons of MDB. J. Bowyer is deemed to beneficially
own 220,775 shares of Common Stock currently representing 24.8% of the
outstanding shares of Common Stock. The above amounts do not include 3,000
shares of Common Stock issuable upon exercise of Class A Warrants issued by the
Company which are not exercisable within 60 days.
C. Marlett owns 126,000 shares in the self-directed Christopher A. Marlett
IRA Rollover and Christopher A. Marlett IRA (together the "Marlett IRA"). C.
Marlett has sole voting and dispositive power over 126,000 shares of Common
Stock. C. Marlett has shared voting and dispositive power over the 164,375
shares of Common Stock owned by MDB because he is a member of MDB and one of the
three operating persons of MDB. C. Marlett is deemed to beneficially own 290,375
shares of Common Stock. C. Marlett beneficially owns 32.6% of the outstanding
shares of Common Stock. C. Marlett disclaims beneficial ownership of shares of
Common Stock owned by D. Marlett, and those shares are not included in the above
amounts.
D. Marlett owns 65,000 shares of Common Stock directly and is the custodian
for three minors each of which owns 1,000 shares of Common Stock. D. Marlett has
sole voting and dispositive power of the 68,000 shares of Common Stock which
represents 7.6% of the outstanding shares of Common Stock. D Marlett disclaims
beneficial ownership of the shares of Common Stock owned by C. Marlett, and
those shares are not included in the above amounts.
Rothstein owns 20,000 shares of Common Stock directly. Rothstein has sole
voting and dispositive power of the 20,000 shares of Common Stock which
currently represents 2.2% of the outstanding shares of Common Stock.
Fioretti owns 70,000 shares of Common Stock directly. Fioretti has sole and
dispositive power of the 70,000 shares of Common Stock which currently
represents 7.9% of the outstanding shares of Common Stock.
Together the Reporting Persons have the right to vote and to dispose of an
aggregate of 546,000 shares of Common Stock currently representing 61.3% of the
outstanding shares of Common Stock.
The following is the report of purchases made during the 60 days preceding
September 20, 1999, by each of the Reporting Persons, including the date of the
transaction, number of shares of Common Stock acquired, and price per share. All
purchases were effected on the OTC Bulletin Board as open market purchases.
Page 12 of 14 Pages
<PAGE>
<TABLE>
Date of Number of
Reporting Person Transaction Shares Acquired / Sold Price
- ----------------- ----------- ---------- --------------- -------
<S> <C> <C> <C> <C>
MDB between 204,175 A between
8/31/99 and $1.25 and
9/10/99 $1.75
MDB between 187,450 S between
9/3/99 and $1.3125
9/10/99 and $1.75
D. Marlett 9/3/99 38,000 A $1.75
D. Marlett as 9/3/99 3,000 A $1.75
custodian
DiGiandomenico 9/3/99 20,000 A $1.75
DiGiandomenico 9/3/99 2,000 A $1.75
as trustee
C. Marlett 9/2/99 60,550 Transfer to IRA N/A
C. Marlett IRA 9/3/99 53,450 A $1.75
Rollover
C. Marlett IRA 9/3/99 12,000 A $1.75
Rothstein 9/27/99 9,000 A $1.125
Rothstein 9/27/99 1,000 A $1.0625
</TABLE>
Item 6. Contracts, Agreements, Understandings or Relationship with Respect to
Securities of Issuer
There are no agreements, contracts or arrangements among the Reporting
Persons with respect to the Common Stock except as disclosed in this Schedule
13D. MDB is a limited liability company of which C. Marlett, J. Bowyer and
DiGiandomenico are the sole members and the three operating persons.
Item 7. Materials to be Filed as Exhibits
(10.1)* Fifth Amended Joint Filing Agreement dated as of August 20,
1999 among MDB Capital Group LLC, Christopher A. Marlett, James
D. Bowyer, Anthony DiGiandomenico, Dyana Williams Marlett,
Leonard Rothstein and William C. Fioretti.
filed.
- --------
* Previously
Page 13 of 14 Pages
<PAGE>
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.
Dated: September 28, 1999
MDB Capital Group LLC
/s/ Christopher A. Marlett
--------------------------------------------------
By: Christopher A. Marlett, Authorized Signatory
/s/ Christopher A. Marlett
--------------------------------------------------
Christopher A. Marlett
/s/ James D. Bowyer
--------------------------------------------------
James D. Bowyer
/s/ Anthony DiGiandomenico
--------------------------------------------------
Anthony DiGiandomenico
/s/ Dyana Williams Marlett
--------------------------------------------------
Dyana Williams Marlett
/s/ Leonard Rothstein
--------------------------------------------------
Leonard Rothstein
/s/ William C. Fioretti
--------------------------------------------------
William C. Fioretti
