<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
MIM Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
553044108
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(Cusip Number)
August 24, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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> 2
SCHEDULE 13G
<TABLE>
CUSIP NO. 553044108 PAGE 2 OF 6 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON: THOMAS H. ROULSTON |
| | |
| | S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS: |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 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 |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER: |
| | | |
| SHARES | | 78,621 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER: |
| | | |
| OWNED BY | | 1,066,370* |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER: |
| | | |
| REPORTING | | 78,621 |
| |-------|-----------------------------------------------------------------|
| PERSON | 8 | SHARED DISPOSITIVE POWER: |
| | | |
| WITH | | 1,066,370* |
| |-------|-----------------------------------------------------------------|
* Thomas H. Roulston II ("Thomas Roulston") and Scott D. Roulston ("Scott Roulston") share voting and
dispositive power with respect to 1,025,356 shares of common stock of the Issuer ("Common Stock") as
general partners of each of Roulston Ventures Limited Partnership ("Fund A") and Roulston Investment Trust
Limited Partnership ("Fund B" and together with Fund A, the "Funds"). The Funds each acquired 512,678
shares of Common Stock in connection with the merger of the Issuer and Continental Managed Pharmacy
Services, Inc. (the "Merger"). A total of 162,484 of these shares is pledged to the Issuer to secure contingent
obligations of the Funds pursuant to an indemnification agreement by and among the Issuer, the Funds and
other persons in connection with the Merger (the "Indemnification Agreement"). In connection with the Merger,
Roulston & Company, an Ohio corporation ("Roulston & Company"), will receive 41,014 shares of Common Stock.
Thomas Roulston is Chairman of Roulston & Company.
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: |
| | |
| | 1,144,991 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES: [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): |
| | |
| | 6.54% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON: |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 6
<PAGE> 3
SCHEDULE 13G
<TABLE>
CUSIP NO. 553044108 PAGE 3 OF 6 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON: SCOTT D. ROULSTON |
| | |
| | S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS: |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 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 |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER: |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER: |
| | | |
| OWNED BY | | 1,066,370* |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER: |
| | | |
| REPORTING | | 0 |
| |-------|-----------------------------------------------------------------|
| PERSON | 8 | SHARED DISPOSITIVE POWER: |
| | | |
| WITH | | 1,066,370* |
| |-------|-----------------------------------------------------------------|
* Thomas Roulston and Scott Roulston share voting and dispositive power with respect to 1,025,356 shares of
Common Stock as general partners of each of the Funds. The Funds each acquired 512,678 shares of Common Stock
in connection with the Merger. A total of 162,484 of these shares is pledged to the Issuer to secure
contingent obligations of the Funds pursuant to the Indemnification Agreement. In connection with the
Merger, Roulston & Company will receive 41,014 shares of Common Stock. Scott Roulston is President of
Roulston & Company
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: |
| | |
| | 1,066,370 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES: [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): |
| | |
| | 6.09% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON: |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
(end of cover page)
Page 3 of 6
<PAGE> 4
ITEM 1 (a). NAME OF ISSUER:
MIM Corporation
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ITEM 1 (b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
One Blue Hill Plaza, 15th Floor
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Pearl River, New York 10965
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ITEM 2 (a). NAME OF PERSONS FILING:
Thomas H. Roulston II and Scott D. Roulston
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ITEM 2 (b). ADDRESS OF PRINCIPAL OFFICE OR, IF NONE, RESIDENCE:
4000 Chester Avenue
- -----------------------------------------------------------------------------
Cleveland, OH 44103
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ITEM 2 (c). CITIZENSHIP:
United States
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ITEM 2 (d). TITLE OF CLASS OF SECURITIES:
Common Stock
- -----------------------------------------------------------------------------
ITEM 2 (e). CUSIP NUMBER:
553044108
- -----------------------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS
240.13d-1(B) OR 240.13d-2(B) OR (C), 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 OF 1940.
(e) [ ] AN INVESTMENT ADVISER IN ACCORDANCE WITH SECTION
240.13d-1(b)(1)(ii)(E).
(f) [ ] AN EMPLOYEE BENEFIT PLAN OR ENDOWMENT FUND IN
ACCORDANCE WITH SECTION 240.13d-1(b)(ii)(F).
(g) [ ] A PARENT HOLDING COMPANY OR CONTROL PERSON, IN
ACCORDANCE WITH SECTION 240.13d-1(b)(1)(ii)(G).
(h) [ ] A SAVINGS ASSOCIATION AS DEFINED IN SECTION 3(b) OF
THE FEDERAL DEPOSIT INSURANCE ACT.
(i) [ ] A CHURCH PLAN THAT IS EXCLUDED FROM THE DEFINITION
OF AN INVESTMENT COMPANY UNDER SECTION 3(c)(14)
OF THE INVESTMENT COMPANY ACT OF 1940.
(j) [ ] GROUP, IN ACCORDANCE WITH SECTION
240.13d-1(b)(1)(ii)(J)
Page 4 of 6
<PAGE> 5
<TABLE>
<S> <C> <C>
ITEM 4. OWNERSHIP:
(a) AMOUNT BENEFICIALLY OWNED: 1,144,991
(b) PERCENT OF CLASS: 6.54%
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE:
78,621
(ii) SHARED POWER TO VOTE OR TO DIRECT THE
VOTE:
1,066,370
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF:
78,621
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF:
1,066,370
</TABLE>
ITEM 5. OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS.
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN 5 PERCENT ON BEHALF OF ANOTHER
PERSON.
The limited and general partners of the Funds have the right
to receive or direct the receipt of dividends from, or the proceeds
from the sale of, the securities held by the Funds. In connection with
an incentive compensation program related to the Merger, Thomas
Roulston has the right to receive the proceeds from the sale of 18,456
of the shares of Common Stock to be held by Roulston & Company. No
such interests relates to more than five percent of the class of such
securities.
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.
Not Applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable.
Page 5 of 6
<PAGE> 6
ITEM 10. CERTIFICATION.
By signing below, I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purposes or effect.
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.
Date: September 9, 1998
/s/ Thomas H. Roulston
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Signature
Thomas H. Roulston
---------------------------------------
Name
/s/ Scott D. Roulston
---------------------------------------
Signature
Scott D. Roulston
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Name
Page 6 of 6
<PAGE> 1
EXHIBIT 99A
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(k)(1) promulgated under the Securities Exchange
Act of 1934, the undersigned agree to the joint filing of a Statement on
Schedule 13G (including any and all amendments thereto, and any filing on
Schedule 13D relating to the same investment) with respect to the shares of
common stock of MIMS Corporation, and further agree that this Joint Filing
Agreement be included as an Exhibit thereto. In addition, each party to this
Agreement expressly authorizes each other party to this Agreement to file on its
behalf any and all amendments to such Statement.
Date: September 9, 1998
\s\ Thomas H. Roulston
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Signature
Thomas H. Roulston
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Name
\s\ Scott D. Roulston
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Signature
Scott D. Roulston
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Name
