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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
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)
IAT Multimedia, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
13-3920210
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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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(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 ("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 6 Pages
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CUSIP NO.: 449202100 13G PAGE 2 OF 6 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Henilia Financial Ltd.
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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
Belize
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5 SOLE VOTING POWER
0
NUMBER OF
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SHARES 6 SHARED VOTING POWER
BENEFICIALLY 443,894
OWNED BY ---------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH 0
REPORTING
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PERSON 8 SHARED DISPOSITIVE POWER
443,894
WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,894
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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
4.3%
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12 TYPE OF REPORTING PERSON*
CO
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SEC 174__ (6-__) * SEE INSTRUCTIONS BEFORE FILLING OUT!
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Page 3 of 6
ITEM 1(a) NAME OF ISSUER: IAT Multimedia, Inc.
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
IAT Multimedia, Inc.
Geschaftshaus Wasserschloss
Aarestrasse 17
CH-5300 Vogelsang-Turgi, Switzerland
ITEM 2(a) NAME OF PERSON FILING:
Henilia Financial Ltd.
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR IF NONE, RESIDENCE:
35A Regent Street, Belize City, Belize
ITEM 2(c) CITIZENSHIP:
Belize
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 per share
ITEM 2(e) CUSIP NUMBER:
449202100
ITEM 3 NOT APPLICABLE
If This Statement is Filed Pursuant to Rule
13d-1(b), or 13d-2(b) or (c), Check Whether the
Person Filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the
Exchange Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [ ] Insurance company as defined in Section 3(a)(19)
of the Exchange Act.
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Page 4 of 6
(d) [ ] Investment company registered under Section 8 of
the Investment Company Act.
(e) [ ] An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with Rule 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;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J);
If this statement is filed pursuant to Rule 13d-1(c), check this box. [ ]
ITEM 4. OWNERSHIP:
(a) Amount beneficially owned: 443,894
Includes (i) 297,347 shares of Common Stock issuable upon
exercise of warrants beneficially owned by Henilia Financial
Ltd. and exercisable within 60 days and (ii) 23,788 shares of
Common Stock which are held in escrow but in respect of which
Henilia Financial Ltd. retains the power to vote.
(b) Percent of class: 4.3%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 443,894
Pursuant to an agreement with Henilia Financial
Ltd., the trustee of Henilia Financial Ltd. has
voting and dispositive power over the shares of
Common Stock held by Henilia Financial Ltd.,
although Vertical Financial Holdings Establishment
("Vertical") retains the right to appoint or
terminate the appointment of the trustee.
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Page 5 of 6
(iii) Sole power to dispose or to direct the disposition
of: 0
(iv) Shared power to dispose or to direct the disposition
of: 443,894
See 4(c)(ii).
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact
that as of the date hereof the reporting person has
ceased to be the beneficial owner of more than five
percent of the class of securities, check the
following:
[X]
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON
Pursuant to an agreement with third party investors
in Henilia Financial Ltd., Vertical owns an equity
interest in Henilia Financial Ltd. entitling it to a
percentage of the profits resulting from the sale of
the shares of Common Stock held by Henilia Financial
Ltd.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY
WHICH ACQUIRED THE SECURITIES
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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Page 6 of 6
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.
February 12, 1999
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(Date)
/s/ Jacob Agam
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(Signature)
Jacob Agam
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(Name/Title)
