SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Under the Securities Exchange Act of 1934
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 1) /1/
International Dispensing Corporation
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(Name of Issuer)
Common Stock, $.001 par value
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(Title of Class of Securities)
459407 10 2
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(CUSIP Number)
December 31, 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)
|_| Rule 13d-1(c)
|X| Rule 13d-1(d)
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Page 1 of 5 Pages
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/1/ 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 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>
SCHEDULE 13G
CUSIP No. 459407 10 2 Page 2 of 5 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ReSeal International Corporation
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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) CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
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5) SOLE VOTING POWER
NUMBER 1,203,731 shares of Common Stock
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OF 6) SHARED VOTING POWER
SHARES
BENEFICIALLY None
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OWNED BY 7) SOLE DISPOSITIVE POWER
EACH
REPORTING 1,203,731 shares of Common Stock
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PERSON 8) SHARED DISPOSITIVE POWER
WITH
None
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,203,731 shares of Common Stock
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.6%
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12) TYPE OF REPORTING PERSON
CO
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Schedule 13G
Item 1(a).Name of Issuer:
International Dispensing Corporation (the "Company").
Item 1(b).Address of Issuer's Principal Executive Offices:
342 Madison Avenue, Suite 1034
New York, New York 10173
Item 2(a).Name of Person Filing:
ReSeal International Corporation
Item 2(b).Address of Principal Business Office or, if None, Residence:
599 Lexington Avenue
New York, New York 10022
Item 2(c).Citizenship:
Reseal International Corporation is a Florida corporation.
Item 2(d).Title of Class of Securities:
Common Stock, $.001 par value ("Common Stock")
Item 2(e).CUSIP Number:
459407 10 2
Item 3.If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c),
check whether the person filing is a:
Not Applicable
Item 4.Ownership.
(a) Amount beneficially owned: 1,203,731 /2/
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/2/ On the original filing date, RIC owned 2,225,000 shares of Common Stock
of the Issuer. On December 15, 1998, RIC sold 864,992 shares of Common Stock to
satisfy certain debt obligations of RIC. On January 28, 1999, RIC sold an
additional 156,277 shares of Common Stock to satisfy additional debt obligations
of RIC.
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(b) Percent of class: 12.6% /3/
(c) Number of shares as to which such person has:
(i)Sole power to vote or to direct the vote: 1,203,731 shares
of Common Stock
(ii)Shared power to vote or to direct the vote: Not Applicable
(iii) Sole power to dispose or to direct the disposition of:
1,203,731 shares of Common Stock
(iv) Shared power to dispose or to direct the disposition of:
Not Applicable
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.
Not applicable
Item 9.Notice of Dissolution of Group.
Not applicable
Item 10. Certification.
Not applicable.
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/3/ Based on 9,566,668 shares outstanding according to the Company's
quarterly report on form 10-QSB filed on October 21, 1998.
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<PAGE>
SIGNATURE
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After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Dated: February 9, 1999
RESEAL INTERNATIONAL CORPORATION
By: /s/ Greg Pardes
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Name: Greg Pardes
Title: Chief Executive Officer
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