<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
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Hawaiian Natural Water Company, Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
419883 10 3
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(CUSIP Number)
Wilhelm Kuhlmann
Spetzgarter Weg 1
88662 Uberlingen
Germany
(497-551-1335)
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 29, 1999
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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 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 10 Pages
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CUSIP No. 419883 10 3 13D Page 2 of 10 Pages
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(1) Names of Reporting Persons. Wilhelm Kuhlmann
S.S. or I.R.S. Identification Nos. of Above Persons. ###-##-####
Wilhelm Kuhlmann
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
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(5) Check 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
Germany
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Number of Shares (7) Sole Voting
Beneficially Owned Power 1,222,500
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 674,666
--------------------------------------------------
(9) Sole Dispositive
Power 1,222,500
--------------------------------------------------
(10) Shared Dispositive
Power 674,666
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,897,166
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
Excludes all shares held by Hans Brunner as to which Mr. Kuhlmann disclaims
beneficial ownership
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(13) Percent of Class Represented by Amount in Row (11)
28.9%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 419883 10 3 13D Page 3 of 10 Pages
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(1) Names of Reporting Persons. Hans Brunner
S.S. or I.R.S. Identification Nos. of Above Persons
N/A
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
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(5) Check 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
Switzerland
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Number of Shares (7) Sole Voting
Beneficially Owned Power 933,333
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 933,333
--------------------------------------------------
(10) Shared Dispositive
Power
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
933,333
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
Excludes all shares held by Wilhelm Kuhlmann or affiliates directly as to
which Mr. Brunner disclaims beneficial ownership.
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
16.1%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 419883 10 3 13D Page 4 of 10 Pages
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(1) Names of Reporting Persons. Bond Exam & Deposit Corp., Ltd.
S.S. or I.R.S. Identification Nos. of Above Persons
N/A
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
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(5) Check 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
Germany
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Number of Shares (7) Sole Voting
Beneficially Owned Power 306,666
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 306,666
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
306,666
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
Excludes all shares held by Wilhelm Kuhlmann or other affiliates directly or
by Hans Brunner as to which beneficial ownership is disclaimed.
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
5.6%
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(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 419883 10 3 13D Page 5 of 10 Pages
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(1) Names of Reporting Persons. COLTRADE (MANX) LTD.
S.S. or I.R.S. Identification Nos. of Above Persons
N/A
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Germany
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 266,666
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 266,666
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
266,666
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
Excludes all shares held by Wilhelm Kuhlmann or other affiliates directly or
by Hans Brunner, as to which beneficial ownership is disclaimed.
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
4.9%
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(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 419883 10 3 13D Page 6 of 10 Pages
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(1) Names of Reporting Persons. COLLECTIBLES TRADING PLC
S.S. or I.R.S. Identification Nos. of Above Persons
N/A
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Germany
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 101,333
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 101,333
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
101,333
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
Excludes all shares held by Wilhelm Kuhlmann or other affiliates directly or
by Hans Brunner, as to which beneficial ownership is disclaimed.
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.9%
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(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 7 of 10 Pages
ITEM 1. SECURITY AND ISSUER
This statement relates to the Common Stock, no par value, of Hawaiian
Natural Water Company, Inc., a Hawaii corporation (the "Company").
ITEM 2. IDENTITY AND BACKGROUND
The following persons may be deemed to constitute a group, in that
they have acted together for the purpose of acquiring the securities
described herein. Except as specifically described in Item 5 below, there is
no agreement or understanding among the members to act as a group with
respect to the acquisition of additional securities or the disposition or
voting of any securities of the Company:
(a) Wilhelm Kuhlmann
(b) Spetzgarter Weg1
88662 Uberlingen
Germany
(c) Private investor
(d) N/A
(e) N/A
(f) German
(a) Hans Brunner
(b) 35 Localita Cini
22018 Cima, Como
Italy
(c) Private investor
(d) N/A
(e) N/A
(f) Swiss
(a) Bond Exam & Deposit Corp., Ltd.
(b) Industriestr. 12
8212 Neuhausen
Switzerland
(c) Authentication and safe-keeping of bonds
(d) N/A
(e) N/A
(f) Place of organization: Bahamas
(a) Coltrade (Manx) Ltd.
(b) 25 The Croft
Hastings
East Sussex TN34 3HH
England
(c) Investment company
(d) N/A
(e) N/A
(f) Place of organization: Isle of Man
(a) Collectibles Trading plc
(b) 25 The Croft
Hastings
East Sussex TN34 3HH
England
(c) Wholesaler of collectible stocks and bonds
(d) N/A
(e) N/A
(f) Place of organization: United Kingdom
Wilhelm Kuhlmann has investment discretion with respect to Bond
Exam & Deposit Corp. Ltd. and Coltrade (Manx) Ltd. He is also the
controlling shareholder of Collectibles Trading plc.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On September 29, 1999, the group completed an initial investment of
$750,000 in common stock and warrants of the Company as further described in
Item 5 below. Mr. Kuhlmann initially subscribed for this entire investment,
but subsequently assigned portions to other members of the group. The source
and amount of funds for the investments were as follows:
(i) Mr. Kuhlmann: $250,000 from his personal funds
(ii) Mr. Brunner: $250,000 from his personal funds
(iii) Bond Exam & Deposit Corp., Ltd.: $115,000 from working
capital
(iv) Coltrade (Manx) Ltd.: $100,000 from working capital
(v) Collectibles Trading plc: $35,000 from working capital
On October 1, 1999, Mr. Kuhlmann committed to invest (directly or
through assignees) an additional $300,000 in the Company on or before
November 5, 1999. Mr. Kuhlmann assigned a portion of this commitment to Mr.
Brunner, who invested an additional $100,000 from his personal funds on
October 14, 1999.
ITEM 4. PURPOSE OF TRANSACTION
The securities described herein have been acquired for investment.
No member of the group has any current plans or intentions to influence or
change the management, capitalization or operations of the Company. However,
pursuant to the investment agreements between Mr. Kuhlmann and the Company,
the Company is obligated to use its best efforts to nominate one person
designated by Mr. Kuhlmann for election to the Company's Board of Directors.
Mr. Kuhlmann has not designated any such person and has no immediate plans to
do so. Should he choose to designate a director, such person will exercise
his discretion in the performance of his duties as a director and may propose
or support such changes to the Company's management, capitalization or
operations as he deems appropriate under the circumstances.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
On September 29, 1999, the group completed the acquisition of an
aggregate of 850,000 shares of Common Stock (the "Shares") and five year
warrants (the "Warrants") to purchase an aggregate of (i) 850,000 shares of
Common Stock at $1.00 per share, and (ii) 566,666 shares of Common Stock at
$1.50 per share. This holding constitutes beneficial ownership of 34.2% of
the outstanding shares of Common Stock calculated in accordance with Rule
13d-3(d), based upon 4,354,032 shares outstanding prior to the foregoing
acquisition by
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Page 8 of 10 Pages
the group, as reflected on the Company's pro forma balance sheet at
August 31, 1999, included in the Company's Current report on Form 8-K, dated
September 29, 1999.
Of the foregoing:
(i) Mr. Kuhlmann beneficially owns, directly or indirectly, an
aggregate of 500,000 Shares and 833,333 Warrants,
constituting 22.1% of the outstanding shares calculated in
accordance with Rule 13d-3(d);
(ii) Mr. Brunner beneficially owns directly an aggregate of
350,000 Shares and 583,333 Warrants, constituting 16.1% of
the outstanding shares calculated in accordance with
Rule 13d-3(d);
(iii) Bond Exam & Deposit Corp., Ltd. beneficially owns directly
an aggregate of 115,000 Shares and 191,666
Warrants, constituting 5.7% of the outstanding shares
calculated in accordance with Rule 13d-3(d);
(iv) Coltrade (Manx) Ltd. beneficially owns directly an aggregate
of 100,000 Shares and 166,666 Warrants, constituting 4.9% of
the outstanding shares calculated in accordance with
Rule 13d-3(d); and
(v) Collectibles Trading plc beneficially owns directly an
aggregate of 35,000 Shares and 58,333 Warrants, constituting
1.8% of the outstanding shares calculated in accordance with
Rule 13d-3(d).
Mr. Kuhlmann has also committed to invest, directly or through
assignees, an additional $200,000 in the Company within the next 60 days on
the same proportionate terms and conditions. If completed, such investment
would involve the acquisition of an additional 200,000 Shares and 333,333
Warrants.
In addition, Mr. Kuhlmann has purchased an aggregate of 30,500
shares (22,500 shares directly and 8,000 shares through Collectibles Trading
plc) in market transactions, of which 23,000 shares were purchased in the
past 60 days as follows:
Date Amount Price
-------- -------- --------
9/28/99 10,000 $1.00
9/30/99 5,000 $ .96875
9/30/99 8,000 $ .9375
After giving effect to these acquisitions, Mr. Kuhlmann's total
beneficial ownership is currently 1,897,166 shares or 28.9%.
Each member of the group reserves the right to buy additional
shares of Common Stock in the open market or through privately negotiated
transactions or to sell, subject to applicable securities laws, any of the
Shares or Warrants currently held by such member. In addition, the members
may at any time or from time to time exercise all or part of the Warrants,
should circumstances warrant, in their sole discretion. There are currently
no understandings or arrangements among any members of the group concerning
any such additional acquisition or disposition of securities of the Company.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
None, except as described in Items 4 and 5 above.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A. Joint Filing Agreement
<PAGE>
EXHIBIT A
JOINT FILING AGREEMENT
Page 9 of 10 Pages
The undersigned hereby agree that the foregoing Statement on
Schedule 13D is hereby filed on behalf of each of them as their joint filing
pursuant to Rule 13d-1(k)(1).
/s/ Wilhelm Kuhlmann
----------------------------
Wilhelm Kuhlmann
/s/ Hans Brunner
----------------------------
Hans Brunner
BOND EXAM & DEPOSIT CORP., LTD.
/s/ Wilhelm Kuhlmann
----------------------------
By: Wilhelm Kuhlmann, Managing Director
COLTRADE (MANX) LTD.
/s/ Wilhelm Kuhlmann
----------------------------
By: Wilhelm Kuhlmann, Managing Director
COLLECTIBLES TRADING PLC
/s/ Wilhelm Kuhlmann
----------------------------
By: Wilhelm Kuhlmann, Managing Director
<PAGE>
Page 10 of 10 Pages
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 15, 1999
----------------------------------------
(Date)
/s/ Wilhelm Kuhlmann
----------------------------------------
(Signature)
----------------------------------------
(Name/Title)
