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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Altair International Inc.
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(Name of Issuer)
Common Stock, No Par Value
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(Title of Class of Securities)
02136W 10 2
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(CUSIP Number)
Brian G. Lloyd
KIMBALL, PARR, WADDOUPS, BROWN &
GEE 185 South State Street, Suite 1300
Salt Lake City, Utah 84111
(801) 532-7840
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 14, 1997
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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(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 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 6
SEC 1746 (12-91)
<PAGE>
CUSIP No. 02136W 10 2 Page 2 of 6 Pages
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SCHEDULE 13D
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William P. Long
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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*
N/A
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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
United States
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7 SOLE VOTING POWER
2,172,029 as of 5/14/97 (includes
options to purchase 350,000 shares
of common stock)
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 113,500 as of 5/14/97
EACH ---------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,172,029 as of 5/14/97 (includes
options to purchase 350,000 shares of
common stock)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
113,500 as of 5/14/97
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,285,529 as of 5/14/97
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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% as of 5/14/97
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
CUSIP No. 02136W 10 2 Page 3 of 6 Pages
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SCHEDULE 13D
Item 1. Security and Issuer
(a) Title of Class of Equity Securities:
Common stock, no par value (the "Common Stock")
(b) Name of Issuer:
Altair International Inc. (the "Issuer")
(c) Address of Issuer's Principal Executive Offices:
1725 Sheridan Avenue, Suite 140, Cody, WY 82414
Item 2. Identity and Background
(a) Name:
William P. Long (the "Reporting Person")
(b) Residence address:
57 Sunset Rim, Cody, WY 82414
(c) Present principal occupation or employment and the name,
principal business and address of any corporation or other
organization in which such employment is conducted:
The Reporting Person is the President of the Issuer.
(d) Whether or not, during the last five years, such persons have
been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) and, if so, give the
dates, nature of conviction, name and location of court, and
penalty imposed, or other disposition of the case:
None
(e) Whether or not, during the last five years, such persons were
parties to a civil proceeding of a judicial or administrative
body of competent jurisdiction and as a result of such
proceeding were or are 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; and,
if so, identify and describe such proceedings and summarize
the terms of such judgment, decree or final order:
None
(f) Citizenship:
United States
<PAGE>
CUSIP No. 02136W 10 2 Page 4 of 6 Pages
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SCHEDULE 13D
Item 3. Source and Amount of Funds or Other Consideration
On May 14, 1997, the Issuer granted to the Reporting Person
options to purchase 100,000 shares of the Common Stock. Such options
were exercisable immediately. No consideration was paid for such
options.
On May 27, 1997, options that had been previously issued to
the Reporting Person became exercisable. Such options were exercisable
for the purchase of 250,000 shares of the Common Stock. No
consideration was paid in connection with such options becoming
exercisable.
Item 4. Purpose of Transaction
All of the options described in Item 3 had been issued to the
Reporting Person in connection with his position as an officer and
director of the Issuer.
The Reporting Person reserves the right to purchase additional
shares of the Common Stock or to dispose of shares of the Common Stock
in the open market, in privately negotiated transactions or in any
other lawful manner in the future. Except as described above, the
Reporting Person presently has no plans or proposals which relate to or
would result in any action enumerated in subparagraphs (a) through (j)
of the instructions for Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) The aggregate number of shares of the Common Stock
beneficially owned by the Reporting Person, as of May 14,
1997, was 2,285,529 shares, which represented 14.8% of the
outstanding shares of the Common Stock. The Reporting Person
disclaims any beneficial interest in the shares of the Common
Stock held by or for the benefit of his children.
(b) As of May 14, 1997, the Reporting Person had the sole power to
vote or direct the vote or the sole power to dispose or to
direct the disposition of 2,172,029 shares of the Common
Stock, which included options either then exercisable or
exercisable within the next 60 days for the purchase of
350,000 shares of the Common Stock. As of May 14, 1997, the
Reporting Person shared the power to vote, direct the vote,
dispose and direct the disposition of 113,500 shares of the
Common Stock with his minor son and minor daughter. The
Reporting Person disclaims any beneficial interest in the
shares of the Common Stock held by or for the benefit of his
children.
(c) On August 7, 1997, the Reporting Person sold a total of 20,000
shares of the Common Stock on the open market. Of such shares,
10,000 were sold for $9.25/share and 10,000 were sold for
$9.375/share. On August 8, 1997, the Reporting Person sold an
additional 4,000 shares on the open market at a price of
$9.875/share.
(d) No other person has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the
sale of the securities discussed herein except those persons
named herein.
(e) Not applicable.
<PAGE>
CUSIP No. 02136W 10 2 Page 5 of 6 Pages
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SCHEDULE 13D
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>
CUSIP No. 02136W 10 2 Page 6 of 6 Pages
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SCHEDULE 13D
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 14, 1997 /s/ WILLIAM P. LONG
- --------------------------------------- --------------------------------
Date William P. Long
