SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Speedcom Wireless Corporation
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(Name of Issuer)
Common Stock, $0.001 par value
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(Title of Class of Securities)
847703 10 5
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(CUSIP Number)
Michael W. McKinney
Speedcom Wireless Corporation
1748 Independence Boulevard, C-5
Sarasota, Florida 34234
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 26, 2000
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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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-7(b) 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).
(Continued on following page(s))
Page 1 of 6 Pages
<PAGE>
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CUSIP No. 847703 10 5
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael W. McKinney
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2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3
SEC USE ONLY
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4
SOURCE OF FUNDS*
OO
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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
Florida
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NUMBER OF 7 SOLE VOTING POWER
5,733,628.99
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
5,733,628.99
REPORTING
PERSON 10 SHARED DISPOSITIVE POWER
WITH
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11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,733,628.99
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12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
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13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
61.7%
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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.
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Page 2 of 6 Pages
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CUSIP No. 847703 10 5
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Item 1. Security and Issuer:
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Common Stock, $.001 par value
Speedcom Wireless Corporation ("Company" or "Issuer")
1748 Independence Boulevard C-5
Sarasota, Florida 34234
Item 2. Identity and Background:
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This statement is being filed by Michael W.
McKinney. Certain information regarding the
foregoing person is set forth below.
(a) - (b) Name and Business Address
Michael W. McKinney
Speedcom Wireless Corporation
1748 Independence Boulevard, C-5
Sarasota, Florida 34234
(c) Principal Occupation and Employment
Chairman and Chief Executive Officer, Director of
Speedcom Wireless Corporation
(d) - (e) During the last five years, Mr. McKinney has
not been convicted in a criminal proceeding or been
a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as
a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future
violation of, or prohibiting or mandating activities
subject to federal or state securities laws or
finding any violation with respect to such laws.
(f) Citizenship
United States
Page 3 of 6 Pages
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CUSIP No. 847703 10 5
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Item 3. Source and Amount of Funds or Other Consideration:
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Pursuant to an Agreement and Plan of Merger dated
August 4, 2000, Speedcom Wireless International
Corporation ("Speedcom") merged with and into LTI
Holdings, Inc.("LTI") with LTI as the surviving
corporation. The consideration for the acquisition
of the Company's shares was shares of Speedcom stock
that were converted into Company stock as a result
of the merger. The shares are held in MWM Family
Ltd., a partnership of which Mr. McKinney is the
general partner.
Item 4. Purpose of Transaction:
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The shares have been acquired for and are
being held for investment purposes. Mr. McKinney has
no plans or proposals which relate to or would result
in:
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;
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
Securities Exchange Act of 1934; or
j. Any action similar to any of those
enumerated above.
Page 4 of 6 Pages
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CUSIP No. 847703 10 5
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Item 5. Interest in Securities of the Issuer.
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Pursuant to Rule 13d-3, Mr. McKinney is deemed to be
the beneficial owner of all 5,733,628.99 shares
which represent 61.7% of the shares of common stock
believed to be outstanding. Mr. McKinney has sole
investment management authority for the shares and
accordingly, has sole voting and dispositive power
over the shares.
Of the shares, 5,615,400 shares are held by a general
partnership, MWM Family Ltd., 99% of which is owned by
Mr. McKinney and members of his family. Mr. McKinney
is the sole managing general partner.
Pursuant to his employment contract, Mr. McKinney
also has 105,049.99 options to purchase common stock
which are currently exercisable. In addition, Mr.
McKinney has 13,179 options which he received in
1999 which are currently exercisable.
The amounts shown do not include an additional
467,950.01 options that are not presently
exercisable and will not become exercisable in the
next 60 days.
Item 6. Contracts, Arrangements, Understandings or
------- Relationships With Respect to Securities of the
Issuer. There are no contracts, arrangements,
understandings or relationships (legal or otherwise)
between Mr. McKinney and any other persons with
respect to any securities of the Company, including
but not limited to transfer or voting of any
securities, finder's fees, joint ventures, loan or
option agreements, puts or calls, guarantees of
profits, division of profits or loss, or the giving
or withholding of proxies.
Item 7. Material to Be Filed as Exhibits.
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None
Page 5 of 6 Pages
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CUSIP No. 847703 10 5
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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.
October 5, 2000
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Date
/s/ Michael W. McKinney
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Michael W. McKinney
Chairman, Chief Executive Officer
Page 6 of 6 Pages
