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OMB APPROVAL
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OMB Number 3235-0104
Expires: December 31, 2001
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Phillips, Jethren
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(Last) (First) (Middle)
c/o Spectrum Naturals, Inc. 133 Copeland Street
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(Street)
Petaluma, CA 94952
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
Effective date of Merger of Spectrum Naturals, Inc. and Organic Food Products,
Inc. *
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Spectrum Organic Products, Inc. (SPOP)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director [ X ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Chief Executive Officer
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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FORM 3 (continued)
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Table I -- Non-Derivative Securities Beneficially Owned
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3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
no par value common stock 31,519,328 D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
* Agreement of Merger has been submitted to the California Secretary of State
for filing; as of the date of this filing such Agreement of Merger has not
yet been accepted for filing, but when accepted, may be given an effective
date prior to the date of acceptance.
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<TABLE>
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FORM 3 (continued)
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Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Contingent merger shares ** no par value common stock Unknown D
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Explanation of Responses:
** Pursuant to the terms of the Certificate of Merger, the shareholders of
Spectrum Naturals, Inc., including Mr. Phillips, may receive additional
shares after the effective date of the Merger as follows:
(i) for each share of Organic Food Products, Inc. common stock issued
upon exercise, in accordance with their terms, of any and all warrants or
options to purchase Organic Food Products, Inc. common stock outstanding as
of the effective date of the Merger, Organic Food Products, Inc. shall
issue .000434 shares of common stock of the Organic Food Products, Inc. for
each share of Spectrum Naturals, Inc.; and
(ii) in the event that the Applicable Price (as defined in Section
1.10 of the Agreement and Plan of Merger and Reorganization by and between
Orgainc Food Products, Inc. and Spectrum Naturals, Inc. dated as of May 14,
1999) exceeds $0.75 per share (the "Baseline Price"), then for each $0.01
per share above the Baseline Price, Organic Food Products, Inc. shall issue
27,293 shares of common stock of the Organic Food Products, Inc. for each
share of Spectrum Naturals, Inc.
provided that any such additional shares issued to Spectrum Naturals, Inc.
shareholders, together with all other shares issued to Spectrum Naturals,
Inc. shareholders in the Merger shall not exceed eighty percent (80%) of
the outstanding common stock of Organic Food Products, Inc., including all
outstanding options, warrants or other rights to acquire capital stock of
Organic Food Products, Inc.
As of the date of this filing, no event has occurred which would give rise to
the issuance of additional shares under the above adjustment formula.
/s/ Jethren Phillips 02/14/00
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
