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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ONE )*
Advance ParadigM, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
007491103
(CUSIP Number)
*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 the
disclosures provided in a prior cover page.
The information required in 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 24 Pages
<PAGE> 2
CUSIP NO. 007491103 13G PAGE 2 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Canaan Capital Limited Partnership
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware Limited Partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
84,747
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 705,315
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
84,747
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
705,315
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,062
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 24 Pages
<PAGE> 3
CUSIP NO. 007491103 13G PAGE 3 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Canaan Capital Offshore Limited Partnership, C.V.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles Limited Partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
705,315
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 84,747
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
705,315
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
84,747
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,062
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 24 Pages
<PAGE> 4
CUSIP NO. 007491103 13G PAGE 4 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Canaan Capital Management L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware Limited Partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,062
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 24 Pages
<PAGE> 5
CUSIP NO. 007491103 13G PAGE 5 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Canaan Capital Offshore Management, N.V.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles Corporation
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 705,315
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
705,315
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
705,315
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 24 Pages
<PAGE> 6
CUSIP NO. 007491103 13G PAGE 6 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Canaan Capital Partners L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware Limited Partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,062
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 24 Pages
<PAGE> 7
CUSIP NO. 007491103 13G PAGE 7 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harry T. Rein
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
883
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
883
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,945
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 24 Pages
<PAGE> 8
CUSIP NO. 007491103 13G PAGE 8 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James J. Fitzpatrick
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
28
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
28
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,090
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 24 Pages
<PAGE> 9
CUSIP NO. 007491103 13G PAGE 9 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stephen L. Green
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
30,804
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
30,804
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
820,866
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 24 Pages
<PAGE> 10
CUSIP NO. 007491103 13G PAGE 10 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Deepak Kamra
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
196
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 790,062
OWNED BY
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 196
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,258
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 24 Pages
<PAGE> 11
CUSIP NO. 007491103 13G PAGE 11 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gregory Kopchinsky
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
304
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
304
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,366
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 24 Pages
<PAGE> 12
CUSIP NO. 007491103 13G PAGE 12 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert Migliorino
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
304
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
304
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,366
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 24 Pages
<PAGE> 13
CUSIP NO. 007491103 13G PAGE 13 OF 24 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eric A. Young
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
304
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 790,062
EACH
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
304
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
790,062
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,366
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 24 Pages
<PAGE> 14
Item 1(a). Name of Issuer
Advance ParadigM, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices
545 E. John Carpenter Freeway, Suite 1900
Irving, TX 75062
Item 2(a). Name of Person Filing
This statement is filed by Canaan Capital Limited Partnership, a
Delaware limited partnership, ("Canaan Capital"), Canaan Capital
Offshore Limited Partnership C.V., a Netherlands Antilles limited
partnership, ("Canaan Capital Offshore"), Canaan Capital Management
L.P. , a Delaware limited partnership, ("Canaan Capital Management"),
Canaan Capital Offshore Management, N.V., a Netherlands Antilles
corporation ("Canaan Corporation"), Canaan Capital Partners L.P., a
Delaware limited partnership, ("Canaan Partners") and Harry T. Rein,
James J. Fitzpatrick, Deepak Kamra, Stephen L. Green, Gregory
Kopchinsky, Robert J. Migliorino, and Eric A. Young (collectively,
the "Partners"). Canaan Capital Management (which serves as the sole
general partner of Canaan Capital and one of the two general partners
of Canaan Capital Offshore), Canaan Corporation (which serves as the
other general partner of Canaan Capital Offshore), Canaan Partners
(which serves as the general partner of Canaan Capital Management),
and the Partners (who serve as general partners of Canaan Partners),
are collectively referred to as the "Reporting Persons" in this
Schedule 13G.
Item 2(b). Address of Principal Business Office or, if None, Residence
Except in the case of Canaan Capital Offshore, Canaan Corporation,
Deepak Kamra and Eric A. Young, the principal business address of the
Reporting Persons is 105 Rowayton Avenue, Rowayton, CT 06853. The
principal address of Canaan Capital Offshore and Canaan Corporation
is c/o ABN Trustcompany, Pietermaai 15, Curacao, the Netherlands
Antilles. The principal business address of Deepak Kamra and Eric A.
Young is 2884 Sand Hill Road, Suite 115, Menlo Park, CA 94025.
Item 2(c). Citizenship
Each of Canaan Capital, Canaan Capital Management and Canaan Partners
is a limited partnership organized under the laws of Delaware. Canaan
Capital Offshore is a limited partnership and Canaan Corporation is a
corporation, each organized under the laws of the Netherlands
Antilles. Each of the Partners are citizens of the United States.
Page 14 of 24 Pages
<PAGE> 15
Item 2(d). Title of Class of Securities
This Schedule 13G report relates to the Common Stock, par value $.01
("Common Stock") of Advance ParadigM, Inc. ("the Company").
Item 2(e). CUSIP Number
CUSIP number 007491103.
Item 3. If this statement if filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) __ Broker or Dealer registered under Section 15 of the Act,
(b) __ Bank as defined in Section 3(a)(6) of the Act,
(c) __ Insurance Company as defined in Section 3(a)(19) of the Act,
(d) __ Investment Company registered under Section 8 of the Investment
Company Act,
(e) __ Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940,
(f) __ Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see 13d-1(b)(1)(ii)(F),
(g) __ Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G);
see Item 7,
(h) __ Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Not Applicable
Item 4. Ownership
(a) Canaan Capital owns 84,747 shares of Common Stock and Canaan Capital
Offshore owns 705,315 shares of Common Stock. All other Reporting
Persons hold their respective beneficially owned shares due to their
relationships to the above Partnerships as outlined in Item 2. In
addition, Messrs. Kopchinsky, Migliorino and Young own 304 shares of
Common Stock each as individuals. Messrs. Fitzpatrick, Kamra and Rein
own 28, 196 and 883 shares of Common Stock, respectively, as
individuals. Mr. Green owns 15,804 shares of Common Stock and options
to purchase 15,000 shares of Common Stock at $12.50 per share as an
individual.
(b) By virtue of their common control, Canaan Capital and Canaan Capital
Offshore each may be deemed to be the beneficial owners of 790,062
shares of Common Stock, representing beneficial ownership of 10.1% of
the Company. Canaan Capital Management, by virtue of its status as
general partner of Canaan Capital and Canaan Capital Offshore, may be
deemed to be the beneficial owner of 790,062 shares, representing
beneficial ownership of 10.1%. Canaan Corporation, by virtue of its
status as a general partner of Canaan Capital Offshore, may be deemed
to be the beneficial owner of 705,315 shares, representing beneficial
Page 15 of 24 Pages
<PAGE> 16
ownership of 9.0%. By virtue of its status as general partner of
Canaan Capital Management, Canaan Partners may be deemed to be the
beneficial owner of 790,062 shares, representing beneficial ownership
of 10.1%. By virtue of their status as general partners of Canaan
Partners, the Partners, may each be deemed to be the beneficial owner
of 790,062 shares representing in the case of each Partner,
beneficial ownership of 10.1%. In addition, each General Partner owns
shares of Common Stock as individuals as outlined in (a) above which
does not increase their respective percentage of ownership, except
for Mr. Green whose percentage of ownership is 10.5%. The foregoing
percentages are calculated based on the 7,807,567 shares of Common
Stock reported to be outstanding in the Quarterly Report on Form 10-Q
of the Issuer for the quarter ended September 30, 1997.
<TABLE>
<CAPTION>
NUMBER OF SHARES
----------------
(c) Reporting Person (i) (ii) (iii) (iv)
---------------- --- ---- ----- ----
<S> <C> <C> <C> <C>
Canaan Capital 84,747 705,315 84,747 705,315
Canaan Capital Offshore 705,315 84,747 705,315 84,747
Canaan Capital Management 0 790,062 0 790,062
Canaan Corporation 0 705,315 0 705,315
Canaan Partners 0 790,062 0 790,062
Harry T. Rein 883 790,062 883 790,062
James J. Fitzpatrick 28 790,062 28 790,062
Stephen L. Green 30,804 790,062 30,804 790,062
Deepak Kamra 196 790,062 196 790,062
Gregory Kopchinsky 304 790,062 304 790,062
Robert J. Migliorino 304 790,062 304 790,062
Eric A. Young 304 790,062 304 790,062
</TABLE>
(i) Sole power to vote or direct the vote
(ii) Shared power to vote or to direct the vote
(iii) Sole power to dispose or to direct the disposition of
(iv) Shared power to dispose or to direct the disposition of
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on by the Parent Holding Company Not
applicable.
Item 8. Identification and Classification of Members of the Group
Each of the Reporting Persons expressly disclaims membership in a
"Group" as defined in Rule 13d-1 (b) (ii) (H).
Page 16 of 24 Pages
<PAGE> 17
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable. This Schedule 13G is not filed pursuant to Rule
13d-1(b).
DATE: February 10, 1998
Page 17 of 24 Pages
<PAGE> 18
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, each of the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Canaan Capital Limited Partnership
By: Canaan Capital Management L. P.
Its General Partner
By: Canaan Capital Partners L.P.
Its General Partner
By: *
------------------------------------
General Partner
Canaan Capital Offshore Limited Partnership C. V.
By: Canaan Capital Management L. P.
Its General Partner
By: Canaan Capital Partners L.P.
Its General Partner
By: *
------------------------------------
General Partner
Canaan Capital Management L. P.
By: Canaan Capital Partners L.P.
Its General Partner
By: *
------------------------------------
General Partner
Canaan Capital Offshore Management, N.V.
By: *
------------------------------------
Director
Canaan Capital Partners L.P.
By: *
------------------------------------
General Partner
Page 18 of 24 Pages
<PAGE> 19
*
------------------------------------
Harry T. Rein
*
------------------------------------
James J. Fitzpatrick
*
------------------------------------
Stephen L. Green
*
------------------------------------
Deepak Kamra
*
------------------------------------
Gregory Kopchinsky
*
------------------------------------
Robert J. Migliorino
*
------------------------------------
Eric A. Young
*By: /s/ Guy M. Russo
-------------------------
Guy M. Russo
Attorney-in-Fact
This Schedule 13G was executed by Guy M. Russo pursuant to Powers of Attorney a
copy of which is filed herewith as Exhibit 2.
Page 19 of 24 Pages
<PAGE> 1
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned agree that only one statement containing the
information required by Schedule 13G need be filed by each of the undersigned
with respect to the ownership by each of the undersigned of shares of stock of
Advance ParadigM, Inc. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original.
Canaan Capital Limited Partnership
By: Canaan Capital Management L. P.
Its General Partner
By: Canaan Capital Partners L.P.
Its General Partner
By: *
------------------------------------
General Partner
Canaan Capital Offshore Limited Partnership C. V.
By: Canaan Capital Management L. P.
Its General Partner
By: Canaan Capital Partners L.P.
Its General Partner
By: *
------------------------------------
General Partner
Canaan Capital Management L. P.
By: Canaan Capital Partners L.P.
Its General Partner
By: *
------------------------------------
General Partner
Canaan Capital Offshore Management, N.V.
By: *
------------------------------------
Director
Canaan Capital Partners L.P.
By: *
------------------------------------
General Partner
Page 20 of 24 Pages
<PAGE> 2
*
------------------------------------
Harry T. Rein
*
------------------------------------
James J. Fitzpatrick
*
------------------------------------
Stephen L. Green
*
------------------------------------
Deepak Kamra
*
------------------------------------
Gregory Kopchinsky
*
------------------------------------
Robert J. Migliorino
*
------------------------------------
Eric A. Young
*By: /s/ Guy M. Russo
--------------------------
Guy M. Russo
Attorney-in-Fact
- ----------------------------------------------------------------------------
This Schedule 13G was executed by Guy M. Russo pursuant to Powers of Attorney a
copy of which is filed herewith as Exhibit 2.
Page 21 of 24 Pages
<PAGE> 1
Exhibit 2
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints Guy M. Russo his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities (until
revoked in writing) to sign any and all instruments, certificates and documents
required to be executed on behalf of himself as an individual or in his capacity
as a general partner or authorized signatory, as the case may be, on behalf of
any of Canaan Capital Limited Partnership; Canaan Capital Offshore Limited
Partnership C.V.; Canaan Capital Offshore Management, N.V.; Canaan Capital
Management L.P. or Canaan Capital Partners, L.P. pursuant to the Securities Act
of 1933, as amended, (the "Securities Act"), or the Securities Exchange Act of
1934, as amended (the "Exchange Act"), and any and all regulations promulgated
thereunder and to file the same, with all exhibits thereto, and any other
documents in connection therewith, with the Securities and Exchange Commission,
and with any other entity when and if such is mandated by the Securities Act,
the Exchange Act or by the By-laws of the National Association of Securities
Dealers, Inc., granting unto said attorney-in-fact and agent full power and
authority to do and perform each and very act and thing requisite and necessary
fully to all intents and purposes as he might or could do in person thereby, and
ratifying and confirming all that said attorney-in-fact and agent, or his
substitute or substitutes, may lawfully do or cause to be done by virtue hereof,
or may have done in connection with the matters described above.
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Page 22 of 24 Pages
<PAGE> 2
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 29th day of
January, 1998.
CANAAN CAPITAL LIMITED PARTNERSHIP
By: Canaan Capital Management, L.P.
Its General Partner
By: Canaan Capital Partners, L.P.
Its General Partner
By: /s/ Harry T. Rein
------------------------------------
General Partner
CANAAN CAPITAL OFFSHORE LIMITED PARTNERSHIP C.V.
By: Canaan Capital Management, L.P.
Its General Partner
By: Canaan Capital Partners, L.P.
Its General Partner
By: /s/ Harry T. Rein
------------------------------------
General Partner
CANAAN CAPITAL OFFSHORE MANAGEMENT, N.V.
By: /s/ Harry T. Rein
------------------------------------
Director
CANAAN CAPITAL MANAGEMENT, L.P.
By: Canaan Capital Partners, L.P.
Its General Partner
By: /s/ Harry T. Rein
------------------------------------
General Partner
CANAAN CAPITAL PARTNERS, L.P.
By: /s/ Harry T. Rein
------------------------------------
General Partner
Page 23 of 24 Pages
<PAGE> 3
/s/ Harry T. Rein
------------------------------------
Harry T. Rein
/s/ James J. Fitzpatrick
------------------------------------
James J. Fitzpatrick
/s/ Stephen L. Green
------------------------------------
Stephen L. Green
/s/ Deepak Kamra
------------------------------------
Deepak Kamra
/s/ Gregory Kopchinsky
------------------------------------
Gregory Kopchinsky
/s/ Robert J. Migliorino
------------------------------------
Robert J. Migliorino
/s/ Eric A. Young
------------------------------------
Eric A. Young
Page 24 of 24 Pages
