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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ___________)*
Qorus.com, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.001
- --------------------------------------------------------------------------------
(Title of Class of Securities)
747280105
----------------------------------------------------------------------
(CUSIP Number)
December 4, 1999
- --------------------------------------------------------------------------------
(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)
*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).
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CUSIP No. 747280105
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. George M. Middlemas
I.R.S. Identification Nos. of above persons
(entities only) 175 38 7894
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power 56,271
Shares ------------------------------------------------------------
Beneficially 6. Shared Voting Power 1,750,428
Owned by ------------------------------------------------------------
Each Reporting 7. Sole Dispositive Power 56,271
Person With ------------------------------------------------------------
8. Shared Dispositive Power 1,750,428
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each
Reporting Person 1,806,699
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 15.8%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) IN
- --------------------------------------------------------------------------------
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CUSIP No. 747280105
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Apex Investment Fund III, L.P.
I.R.S. Identification Nos. of above persons
(entities only) 36 4078931
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power 1,641,672
Shares ------------------------------------------------------------
Beneficially 6. Shared Voting Power 0
Owned by ------------------------------------------------------------
Each Reporting 7. Sole Dispositive Power 1,641,672
Person With ------------------------------------------------------------
8. Shared Dispositive Power 0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each
Reporting Person 1,641,672
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 14.5%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) PN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP No. 747280105
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Apex Strategic Partners, LLC
I.R.S. Identification Nos. of above persons
(entities only) 36 4115103
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power 108,756
Shares ------------------------------------------------------------
Beneficially 6. Shared Voting Power 0
Owned by ------------------------------------------------------------
Each Reporting 7. Sole Dispositive Power 108,756
Person With ------------------------------------------------------------
8. Shared Dispositive Power 0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each
Reporting Person 108,756
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 0.1%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) OO
- --------------------------------------------------------------------------------
<PAGE>
Item 1.
(a) Name of Issuer
Qorus.com, Inc.
(b) Address of Issuer's Principal Executive Offices
9800 South Sepulveda Blvd.
Suite 318
Los Angeles, California 90045
Item 2.
(a) Name of Person Filing
George M. Middlemas ("Middlemas"), Apex Investment Fund III, L.P.
("Apex III") and Apex Strategic Partners, LLC ("Apex Strategic").
(b) Address of Principal Business Office or, if none, Residence
Middlemas, Apex III and Apex Strategic maintain their principal place
of business at 225 W. Washington, Suite 1450, Chicago, Illinois 60606.
(c) Citizenship
Middlemas is a citizen of the United States. Apex III is a Delaware
limited partnership. Apex Strategic is a Delaware limited liability
company.
(d) Title of Class of Securities
Common Stock, par value $.001
(e) CUSIP Number
747280105
<PAGE>
Item 3. Not applicable
Item 4. Ownership
(a) Amount beneficially owned
Middlemas is the record owner of 56,271 shares (which number
includes 50,000 common stock options at an exercise price of $1
per share); and by virtue of his status as a managing member of
the general partner of Apex III may be deemed the beneficial
owner of 1,641,672 shares; and by virtue of his status as a
managing member of the investment manager of Apex Strategic may
be deemed the beneficial owner of 108,756 shares.
Apex III is the record owner of 1,641,672 shares.
Apex Strategic is the record owner of 108,756 shares.
(b) Percent of Class
Middlemas is the record owner of 0.5%, based upon 11,403,596
shares outstanding, and may be deemed the beneficial owner of
15.8%, based upon 11,403,596 shares outstanding. Apex III is the
beneficial owner of 14.5%, based upon 11,353,596 shares
outstanding. Apex Strategic is the beneficial owner of 0.1%,
based upon 11,353,596 shares outstanding. The shares used to
calculate these percentages were reported outstanding on Issuer's
10/5/99 Form 10-SB EDGAR filing.
(c) Number of shares as to which the person has
(i) Sole power to vote or direct the vote
Middlemas 56,271 shares
Apex III 1,641,672 shares
Apex Strategic 108,756
(ii) Shared power to vote or direct the vote
Middlemas 1,750,428 shares
(iii) Sole power to dispose or to direct the disposition of
Middlemas 56,271 shares
Apex III 1,641,672 shares
Apex Strategic 108,756
<PAGE>
(iv) Shared power to dispose or to direct the disposition of
Middlemas 1,750,428 shares
Item 5. Not applicable.
Item 6. Not applicable
Item 7. Not applicable
Item 8. See Exhibit I.
Item 9. Not applicable
Item 10. Not applicable
<PAGE>
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.
Date: February 4, 2000
/s/ George M. Middlemas
----------------------------------------------
GEORGE M. MIDDLEMAS
APEX INVESTMENT FUND III, L.P.
a Delaware Limited Partnership
By: Apex Management III, LLC
By: /s/ George M. Middlemas
-------------------------------------------
George M. Middlemas, a managing
member
APEX STRATEGIC PARTNERS, LLC
a Delaware Limited Liability Company
By: Apex Management III, LLC
By: /s/ George M. Middlemas
-------------------------------------------
George M. Middlemas, a managing
member
<PAGE>
EXHIBIT I TO SCHEDULE 13G
IDENTIFICATION OF GENERAL PARTNER
The general partner of Apex Investment Fund III, L.P. ("Apex III") is
Apex Management III, LLC ("Apex Management"), a Delaware limited liability
company. Apex Management's managing members are: George M. Middlemas
("Middlemas"); Stellar Investment Co. ("Stellar"), a corporation controlled by
James A. Johnson ("Johnson") and First Analysis Apex Management Company III, LLC
("First Analysis Apex Management"), a Delaware limited liability company. First
Analysis Apex Management's managing member is First Analysis Corporation, a
Delaware corporation ("FAC").
The investment manager of Apex Strategic Partners, LLC ("Apex
Strategic") is Apex Management.
F. Oliver Nicklin ("Nicklin"), President and Director of FAC, and
Maxwell, Vice Chairman of FAC, take executive actions on behalf of FAC with
respect to FAC's functioning as an ultimate managing member of Apex III. Each of
Nicklin and Maxwell maintain his principal office at 233 South Wacker Drive,
Suite 9500, Chicago, Illinois 60606 ("Suite 9500"). Each of the above is
principally employed as an executive of FAC. FAC's principal business is
participation in venture capital partnerships and the provision of research
investment services. Its principal business address is Suite 9500.
Middlemas is principally employed as an executive of Apex Investment
Partners and maintains his business address at 225 W. Washington, Suite 1450,
Chicago, Illinois 60606 ("Suite 1450"). Stellar's principal business is serving
as an ultimate general partner of investment partnerships. Its business address
is maintained at Suite 1450.
To the best of Apex III's and Apex Strategic Partners' knowledge, each
of the natural persons listed above is a citizen of the United States.
<PAGE>
EXHIBIT II TO SCHEDULE 13G
17 C.F.R. 240.13d-1(k)(1)(iii)
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the
undersigned hereby agree that only one statement containing the information
required on Schedule 13G need be filed with respect to ownership by each of the
undersigned of shares of Common Stock of Qorus.com, Inc.
This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original.
Dated: February 4, 2000
/s/ George M. Middlemas
----------------------------------------------
GEORGE M. MIDDLEMAS
APEX INVESTMENT FUND III, L.P.
a Delaware Limited Partnership
By: Apex Management III, LLC
By: /s/ George M. Middlemas
-------------------------------------------
George M. Middlemas, a managing member
APEX STRATEGIC PARTNERS, LLC
a Delaware Limited Liability Company
By: Apex Management III, LLC
By: /s/ George M. Middlemas
-------------------------------------------
George M. Middlemas, a managing member
