UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
LASER MORTGAGE MANAGEMENT, INC.
-------------------------------
(Name of Issuer)
Common Stock, $.001 par value
-----------------------------
(Title of Class of Securities)
518 06 D100
--------------
(CUSIP Number)
April 13, 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)
[X] Rule 13d-1(c)
[ ] 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).
(Page 1 of 17 pages)
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 2 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Jay Buck
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
994,400
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
994,400
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
994,400
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTION BEFORE FILLING OUT!
page 2 of 17 pages
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 3 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Demeter Asset Management, Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
994,400
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
994,400
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
994,400
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6%
12 TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTION BEFORE FILLING OUT!
page 3 of 17 pages
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 4 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Mariner Partners, L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
769,100
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
769,100
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
769,100
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
12 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTION BEFORE FILLING OUT!
page 4 of 17 pages
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 5 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Mariner GP LP
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
769,100
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
769,100
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
769,100
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
12 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTION BEFORE FILLING OUT!
page 5 of 17 pages
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 6 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Mariner Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
769,100
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
769,100
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
769,100
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
12 TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTION BEFORE FILLING OUT!
page 6 of 17 pages
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 7 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
William J. Michaelcheck
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
769,100
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
769,100
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
769,100
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTION BEFORE FILLING OUT!
page 7 of 17 pages
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 8 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Rockwood Asset Management, Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
225,300
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
225,300
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,300
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.3%
12 TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTION BEFORE FILLING OUT!
page 8 of 17 pages
<PAGE>
SCHEDULE 13G
CUSIP No. 51806D100 Page 9 of 17 Pages
---------
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Rockwood Partners, L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
5 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
VOTING POWER
0
6 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
VOTING POWER
225,300
7 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE
DISPOSITIVE POWER
0
8 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SHARED
DISPOSITIVE POWER
225,300
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,300
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.3%
12 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTION BEFORE FILLING OUT!
page 9 of 17 pages
<PAGE>
Item 1(a). Name of Issuer:
Laser Mortgage Management, Inc. (the "Company")
Item 1(b). Address of Issuer's Principal Executive Offices:
51 John F. Kennedy Parkway
Short Hills, New Jersey 07078
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) Jay Buck ("Buck") with respect to the shares of Common
Stock, par value $.001 per share ("Common Stock") of the
Company beneficially owned by (a) Demeter Asset
Management, Inc., a Delaware corporation ("Demeter"), of
which Buck is the sole stockholder, President and a
director and (b) Rockwood Asset Management Inc., a
Delaware corporation ("RAM"), of which Buck is the sole
stockholder, President and a director;
(ii) Demeter, with respect to the shares of Common Stock also
beneficially owned by Mariner Partners, L.P., a Delaware
limited partnership ("Mariner Partners"), and Rockwood
Partners, L.P., a Delaware limited partnership ("Rockwood
Partners"), for each of which Demeter serves as investment
manager;
(iii) Mariner Partners with respect to the shares of Common
Stock owned directly by it;
(iv) Mariner GP LP, a Delaware limited partnership ("Mariner
GP"), with respect to the shares of Common Stock also
beneficially owned by Mariner Partners, of which Mariner
GP is the general partner;
(v) Mariner, Inc., a Delaware corporation, with respect to the
shares of Common Stock also beneficially owned by Mariner
GP of which Mariner Inc. is the general partner;
(vi) William J. Michaelcheck ("Michaelcheck"), with respect to
the shares of Common Stock also beneficially owned by
Mariner Inc., of which Michaelcheck is the sole
stockholder, President and a director.
(vii) RAM, with respect to the shares of Common Stock also
beneficially owned by Rockwood Partners, of which RAM is
the general partner; and
(viii) Rockwood Partners, with respect to the shares of Common
Stock owned directly by it.
The foregoing persons are hereinafter collectively referred to as
the "Reporting Persons."
(Page 10 of 17 pages)
<PAGE>
Item 2(b). Address of Principal Business Office, or, if None, Residence:
The address of each of Buck, Demeter, RAM and Rockwood Partners is
104 Field Point Road, Greenwich, Connecticut 06830. The address of
each of Mariner Partners, Mariner GP, Mariner Inc. and Michaelcheck
is 65 East 55th Street, New York, New York 10022.
Item 2(c). Citizenship:
Each of Buck and Michaelcheck are individuals who are United States
citizens. Each of Rockwood Partners, Mariner Partners and Mariner
GP is a Delaware limited partnership. Each of Demeter, RAM and
Mariner Inc. is a Delaware corporation.
Item 2(d). Title of Class of Securities:
This statement relates to the Company's Common Stock, par value
$.001 per share.
Item 2(e). CUSIP Number:
518D6D100
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), check whether the person is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act,
(d) [ ] Investment Company registered under Section 8 of the Investment
Company Act,
(e) [ ] Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance with
Rule 13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the Federal
Deposit Insurance Act,
(i) [ ] 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. [X]
Item 4. Ownership.
A. Buck
(a) Amount beneficially owned:
(b) Percent of class: 5.6%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 944,400
(iii) Sole power to dispose or direct the disposition: 0
(Page 11 of 17 pages)
<PAGE>
(iv) Shared power to dispose or direct the disposition:944,400
B. Demeter
(a) Amount beneficially owned: 994,400
(b) Percent of class: 5.6%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 944,400
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 944,000
C. Mariner Partners
(a) Amount beneficially owned: 769,100
(b) Percent of class: 4.3%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 769,100
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 769,100
D. Mariner GP
(a) Amount beneficially owned: 769,100
(b) Percent of class: 4.3%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 769,100
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 769,100
E. Mariner Inc.
(a) Amount beneficially owned: 769,100
(b) Percent of class: 4.3%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 769,100
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 769,100
F. Michaelcheck
(a) Amount beneficially owned: 769,100
(b) Percent of class: 4.3%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 769,100
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 769,100
G. RAM
(a) Amount beneficially owned: 225,300
(b) Percent of class: 1.3%
(c) (i) Sole power to vote or direct the vote: 0
(Page 12 of 17 pages)
<PAGE>
(ii) Shared power to vote or direct the vote: 225,300
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 225,300
H. Rockwood Partners
(a) Amount beneficially owned: 225,300
(b) Percent of class: 1.3%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 225,300
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 225,300
Item 5. Ownership of Five Percent or Less or a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Each of Mariner Inc., Mariner GP and Michaelcheck directly or
indirectly has the power to direct the affairs of Mariner Partners, including
decisions respecting the receipt of dividends from and the proceeds from the
sale of Common Stock owned by Mariner Partners. Each of RAM and Buck directly or
indirectly has the power to direct the affairs of Rockwood Partners, including
decisions respecting the receipt of dividends from and the proceeds from the
sale of Common Stock owned by Rockwood Partners.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company.
See item 2(a)
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Each of the Reporting Persons hereby makes the following
certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
(Page 13 of 17 pages)
<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.
Dated: April , 1999
/s/Jay Buck
-------------------------------
Jay Buck
DEMETER ASSET MANAGEMENT, INC.
By: /s/Jay Buck
----------------------------
Jay Buck
President
MARINER PARTNERS, INC., L.P.
By: Mariner GP LP, General Partner
By: Mariner, Inc., General Partner
By: /s/William Michaelcheck
----------------------------
William Michaelcheck
President
MARINER GP LP
By: Mariner Inc., General Partner
By: /s/William Michaelcheck
----------------------------
William Michaelcheck
President
(Page 14 of 17 pages)
<PAGE>
MARINER INC.
By: /s/William Michaelcheck
----------------------------
William Michaelcheck
President
/s/William Michaelcheck
-------------------------------
William Michaelcheck
ROCKWOOD ASSET MANAGEMENT, INC.
By: /s/Jay Buck
----------------------------
Jay Buck
President
ROCKWOOD PARTNERS, L.P.
By: Rockwood Asset Management, Inc.
General Partner
By: /s/ Jay Buck
----------------------------
Jay Buck
President
(Page 15 of 17 pages)
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT
We, the signatories of the statement on Schedule 13G to which this
Agreement is attached, do hereby agree that such statement is, and any
amendments thereto filed by any of us will be, filed on behalf of each of us.
/s/Jay Buck
-------------------------------
Jay Buck
DEMETER ASSET MANAGEMENT, INC.
By: /s/Jay Buck
----------------------------
Jay Buck
President
MARINER PARTNERS, INC., L.P.
By: Mariner GP LP, General Partner
By: Mariner, Inc., General Partner
By: /s/William Michaelcheck
----------------------------
William Michaelcheck
President
MARINER GP LP
By: Mariner Inc., General Partner
By: /s/William Michaelcheck
----------------------------
William Michaelcheck
President
(Page 16 of 17 pages)
<PAGE>
MARINER INC.
By: /s/William Michaelcheck
----------------------------
William Michaelcheck
President
/s/William Michaelcheck
-------------------------------
William Michaelcheck
ROCKWOOD ASSET MANAGEMENT, INC.
By: /s/Jay Buck
----------------------------
Jay Buck
President
ROCKWOOD PARTNERS, L.P.
By: Rockwood Asset Management, Inc.
General Partner
By: /s/ Jay Buck
----------------------------
Jay Buck
President
(Page 17 of 17 pages)
