SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13D-
1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 1)
Precept Business Services, Inc.
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(Name of Issuer)
Class A Common Stock, par value $0.01 per share
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(Title of Class of Securities)
740 165 10 5
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(CUSIP Number)
J.D. Greco
2306 Valencia
Monroe, LA 71201
(318) 345-3333
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 2, 1998
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
Note. Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1 (a) for other parties to whom copies are to
be sent.
(Continued on following pages)
(Page 1 of 5 Pages)
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CUSIP No. 740 165 105 13D/A Page 2 of 5 Pages
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1 NAME OF REPORTING PERSONS J.D. Greco
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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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 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES 3,796,735
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 3,345,222
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PERSON WITH 10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,796,735
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.90%
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14 TYPE OF REPORTING PERSONS*
IN
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Item 1. Security & Issuer
This statement relates to the Class A common stock, par value $0.01 per
share (the "Common Stock"), of Precept Business Services, Inc. (the "Company").
The Company's principal executive offices are located at 1909 Woodall Rodgers
Freeway, Suite 500, Dallas, Texas 75201.
Item 2. Identity & Background
(a) This statement is filed by J.D. Greco with respect to shares of Common
Stock beneficially owned by him.
(b) Mr. Greco's residence address is located at 2306 Valencia, Monroe, LA
71201.
(c) Mr. Greco is a consultant to MBF Corporation, 4951 Central Avenue,
Monroe, Louisiana and was also Chairman of the Board of APICO Corporation of
Girard, 150 APICO Way, Girard, Kansas until October 26, 1998.
(d) J.D. Greco, during the last five years, has not been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, J.D. Greco has not been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and,
as a result of such a proceeding, was, or is subject to, a judgement, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
(f) J.D. Greco is a citizen of the United States.
Item 3. Source & Amount of Funds & Other Consideration
Mr. Greco acquired all his shares of Common Stock of the Company in
connection with the acquisition of his wholly-owned corporation, MBF
Corporation, by the Company on June 19, 1998 solely for Common Stock of the
Company. The increase in shares reported in this amended Schedule 13D does not
reflect any further acquisition by Mr. Greco but instead solely reflects
inclusion of shares currently held in escrow by the Company and as to which Mr.
Greco may exercise voting rights.
Item 4. Purpose of Transactions
The increase in shares did not arise from any transaction other than the
previously reported acquisition of Mr. Greco's shares in MBF Corporation by the
Company in exchange for Common Stock of the Company. Mr. Greco may make further
purchases of Common Stock in the future and may dispose of any or all shares of
Common Stock at any time. Mr. Greco does not have any current plans that relate
to, or could result in, any matters referred to in paragraphs (b) through (j)
inclusive of Item 4 of Schedule 13D. Mr. Greco may, at any time and from time to
time, review or reconsider his position and formulate plans or proposals with
respect thereto, but has no present intention of doing so.
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Item 5. Interest in Securities of the Issuer
(a) Aggregate number of shares beneficially owned (and related percentage):
(i) J.D. Greco: 3,796,735 (6.90%)
The percentages used herein are based upon the 55,064,335 shares of
Common Stock outstanding as of October 8, 1998 as indicated by the
Company. The change in Mr. Greco's percentage ownership is due to the
treatment of additional shares of Common Stock as beneficially owned
(see Item 3) and the increase in shares of Common Stock outstanding.
(b) Sole or shared power to vote or dispose:
(i) J.D. Greco
Sole power to vote or direct vote: 3,796,735 shares
Shared power to vote or direct vote: -0- shares
Sole power to dispose or direct disposition: 3,345,222 shares
Shared power to dispose or direct disposition: -0- shares
Pursuant to Mr. Greco's agreement with the Company in connection with the
acquisition of MBF Corporation, 451,513 shares of Common Stock are being
held by the Company in trust subject to the satisfaction of certain
conditions. Mr. Greco may exercise voting rights with respect to such
shares.
(c) Mr. Greco has not acquired shares of the Common Stock within the last
sixty days.
(d) Not applicable
(e) Not applicable
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) between Mr. Greco and any person with respect to any
securities of the Company, including but not limited to transfer or voting of
any of the securities, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, divisions of profits or
loss, or the giving or withholding of proxies.
Item 7. Materials to be Filed as Exhibits
None.
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Signatures
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: November 25, 1998
/s/ J.D. Greco
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J.D. Greco
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