UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
Under the Securities Exchange Act of 1934
Compass Plastics & Technologies, Inc.
(Name of Issuer)
Common Stock, par value $.0001 per share
(Title of Class of Securities)
203915 10 3
(CUSIP Number)
*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. 203915 10 3
1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Sirrom Capital Corporation -- Taxpayer I.D. No. 62-1583116
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) N/A
(b) N/A
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Tennessee
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
5. SOLE VOTING POWER
Total of 867,144 shares of Common Stock only upon conversion
(on an as converted basis), consisting of the following:
(i) 447,144 shares of Common Stock owned beneficially; and
(ii) 420,000 shares of Common Stock issuable pursuant to an
immediately exercisable warrant having an exercise price of
$6.75 per share.
6. SHARED VOTING POWER
N/A
7. SOLE DISPOSITIVE POWER
Total of 867,144 shares of Common Stock only upon conversion
(on an as converted basis), consisting of the following:
(i) 447,144 shares of Common Stock owned beneficially; and
(ii) 420,000 shares of Common Stock issuable pursuant to an
immediately exercisable warrant having an exercise price of
$6.75 per share.
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8. SHARED DISPOSITIVE POWER
N/A
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
Total of 867,144 shares of Common Stock only upon conversion (on an as
converted basis), consisting of the following:
(i) 447,144 shares of Common Stock owned beneficially; and
(ii) 420,000 shares of Common Stock issuable pursuant to an
immediately exercisable warrant having an exercise price of
$6.75 per share.
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.35% of Common Stock
12. TYPE OF REPORTING PERSON*
IV
Item 1.
(a) Name of Issuer:
Compass Plastics & Technologies, Inc.
(b) Address of Issuer's Principal Executive Offices:
15730 South Figueroa Street
Gardena, California 90248
Item 2.
(a) Name of Person Filing:
Sirrom Capital Corporation
(b) Address of Principal Business Office, or if None, Residence:
500 Church Street, Suite 200
Nashville, Tennessee 37219
(c) Citizenship:
Tennessee
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(d) Title of Class of Securities:
Common Stock, par value $.0001 per share
(e) CUSIP Number:
203915 10 3
Item 3. Filing Pursuant to Rule 13d-1(b):
This statement is filed pursuant to Rule 13d-1(b).
The person filing is an Investment Company registered
under Section 8 of the Investment Company Act.
Item 4. Ownership.
If more than five percent of the class is owned,
indicate:
(a) Amount beneficially owned:
Total of 867,144 shares of Common Stock only
upon conversion (on an as converted basis),
consisting of the following:
(i) 447,144 shares of Common Stock owned beneficially; and
(ii) 420,000 shares of Common Stock
issuable pursuant to an immediately
exercisable warrant having an
exercise price of $6.75 per share.
(b) Percent of class:
16.35% of Common Stock
(c) Number of shares as to which such person
has:
(i) Sole power to vote or direct the
vote:
Total of 447,144 shares of Common
Stock, with an additional 420,000
upon exercise of warrants.
(ii) Shared power to vote or to direct the vote:
N/A.
(iii) Sole power to dispose or to direct
the disposition of: Total of 447,144
shares of Common Stock, with an
additional 420,000 upon exercise of
warrants.
(iv) Shared power to dispose or to direct the disposition of:
N/A.
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Item 5. Ownership of Five Percent or Less of a Class.
N/A
Item 6. Ownership of More Than Five Percent on Behalf of
Another Person.
N/A
Item 7. Identification and Classification of the Subsidiary
which Acquired the Security Being Reported on by the
Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the
Group.
N/A
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were acquired in the ordinary course of
business and were not acquired for the purpose of and
do not have the effect of changing or influencing the
control of the issuer of such securities and were not
acquired in connection with or as a participant in
any transaction having such purposes or effect.
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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: March 30, 1998 SIRROM CAPITAL CORPORATION
By: /S/ Carl W. Stratton
Carl W. Stratton
Chief Financial Officer
