UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. __________)*
PHOTOVOLTAICS.COM, INC.
(Name of Issuer)
Common Stock, par value $.01
(Title of Class of Securities)
719401101
(CUSIP Number)
Randall W. Heinrich
1000 Louisiana, Suite 6905
Houston, Texas 77002
713-951-9100
(Name, Address, and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 18, 2000
(Date of Event which Requires Filing of this Statement)
If this 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 [ ].
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*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).
<PAGE>
SCHEDULE 13D
CUSIP No. 719401101
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1) Names of Reporting Person
Kent E. Lovelace, Jr.
S.S. or I.R.S. Identification No. of Above Person
###-##-####
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2) Check the Appropriate Box if a Member of a Group (See
Instructions)
(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 if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
N/A
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6) Citizenship or place of Organization:
UNITED STATES
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(7) Sole Voting Power
Number of 650,000
Shares
Bene- __________________________________________________________________________
ficially (8) Shared Voting Power
owned by -0-
Each
Report- ________________________________________________________________________
ing Person (9) Sole Dispositive Power
With 650,000
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(10) Shared Dispositive Power
-0-
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11) Aggregate Amount Beneficially Owned by Each Reporting Person:
650,000
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12) Check if the Aggregate Amount in Row (11) excludes certain
shares:
[X]
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13) Percent of Class Represented by Amount in Box (11):
13.2%
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14) Type of Reporting Person
IN
ITEM 1. Security and Issuer
The class of equity securities to which this statement relates is the
common stock, par value $.01 per share (the "Common Stock"), issued by
Photovoltaics.com, Inc., a Delaware corporation (the "Company"), which has its
principal executive offices at 215 Cranwood Dr., Key Biscayne, Florida 33149.
ITEM 2. Identity and Background
This Statement is being filed by Kent E. Lovelace, Jr. (the "Reporting
Person"), whose principal business address is 1105 30th Ave., Suite 200,
Gulfport, Mississippi 39501. The Reporting Person is principally engaged as the
President and Chief Executive Officer of Equitrust Mortgage Corporation. The
Reporting Person is a United States citizen. During the last five years, the
Reporting Person has not been convicted in a criminal proceeding. During the
last five years, the Reporting Person has not has been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and,
as a result of such proceeding, is or was 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.
ITEM 3. Source and Amount of Funds or Other Consideration
The Reporting Person acquired the 300,000 shares of Common Stock giving
rise to the filing of this statement pursuant to the exercise of an option
granted by the Zack Curtin Trust, the Company's largest stockholder, and the
payment of an aggregate purchase price of $30,000 with the use of the Reporting
Person's personal funds. In addition to the preceding, the Zack Curtin Trust
granted in favor of the Reporting Person another option to purchase 300,000
additional shares of Common Stock at an aggregate purchase price of $30,000. The
Reporting Person anticipates that if he exercises all or any portion of such
option, he will use personal funds to acquire the optioned Common Stock,
although circumstances may be such at the time of his exercise that the
Reporting Person may elect to borrow or otherwise procure amounts necessary to
exercise such option.
ITEM 4. Purpose of Transaction
The Reporting Person acquired, and the Reporting Person intends to
hold, his shares of Common Stock for investment, and does not have any present
plans or proposals which relate to or would result in: (i) any acquisition by
any person of additional securities of the Company (except for the possible
exercise of the option described herein to acquire 300,000 additional shares of
Common Stock), or any disposition of securities of the Company; (ii) any
extraordinary corporate transaction, such as a merger, reorganization or
liquidation, involving the Company or any of its subsidiaries; (iii) any sale or
transfer of a material amount of assets of the Company or any of its
subsidiaries; (iv) any change in the present board of directors or management of
the Company, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board; (v) any material
change in the present capitalization or dividend policy of the Company; (vi) any
other material change in the Company's business or corporate structure; (vii)
any changes in the Company's charter, by-laws, or other instruments
corresponding thereto or other actions which may impede the acquisition of
control of the Company by any person; (viii) any delisting from a national
securities exchange or any loss of authorization for quotation in an
inter-dealer quotation system of a registered national securities association of
a class of securities of the Company; (ix) any termination of registration
pursuant to section 12(g)(4) of the Act of a class of equity securities of the
Company; or (x) any action similar to any of those enumerated above.
Notwithstanding the foregoing, the Reporting Person may determine to
change his investment intent with respect to the Company at any time in the
future. In reaching any conclusion as to his future course of action, the
Reporting Person will take into consideration various factors, such as the
Company's business and prospects, other developments concerning the Company,
other business opportunities available to the Reporting Person, developments
with respect to the business of the Reporting Person, and general economic and
stock market conditions, including, but not limited to, the market price of the
Common Stock. The Reporting Person may, depending on other relevant factors,
acquire additional shares of Common Stock in open market or privately negotiated
transactions, dispose of all or a portion of his holdings of shares of Common
Stock or change his intention with respect to any or all of the matters referred
to in this Item.
ITEM 5. Interest in Securities of the Issuer
The Reporting Person individually owns 350,000 shares of Common Stock
for which he is the beneficial owner. Moreover, the Reporting Person is the
beneficial owner of a stock option currently exercisable to acquire 300,000
shares of Common Stock. Based on the foregoing, the Reporting Person
acknowledges that he is the beneficial owner of 650,000 shares of Common Stock
for which he has sole voting and investment power. Except for the purchase of
Common Stock and grant of stock option described above, the Reporting Person has
not effected any transaction in or with respect to the Common Stock during the
past 60 days.
ITEM 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
N/A
ITEM 7. Material to be Filed as Exhibits
No Exhibits are being filed with this statement.
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.
Dated: February 23, 2000
/S/ KENT E. LOVELACE, JR.
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Name/Title__________________________________________
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT
CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
(SEE 18 U.S.C. 1001).
