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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
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)
740165-20-4
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(CUSIP Number)
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).
Page 1 of 5 Pages
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CUSIP NO. 740165-20-4 13G PAGE 2 OF 5 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DARWIN DEASON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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5 SOLE VOTING POWER
NUMBER OF
SHARES 3,535,927
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING -0-
PERSON --------------------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
1,445,542
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8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,535,927
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
/ /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
41.8%
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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Item 1(a). NAME OF ISSUER.
The name of the Issuer is Precept Business Services, Inc.
Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
The Issuer's principal executive offices are located at 1909
Woodall Rodgers Freeway, Suite 500, Dallas, Texas 75201.
Item 2(a). NAME OF PERSON FILING.
This statement is being filed on behalf of Darwin Deason.
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE.
The address of the principal business office of Mr. Deason is 1909
Woodall Rodgers Freeway, Suite 500, Dallas, Texas 75201.
Item 2(c). CITIZENSHIP.
Mr. Deason is a citizen of the United States of America.
Item 2(d). TITLE OF CLASS OF SECURITIES.
This statement relates to shares of Class A Common Stock, par
value of $0.01 per share ("Common Stock") of the Issuer.
Item 2(e). CUSIP NUMBER.
The CUSIP No. for the shares of Common Stock of the Issuer
is 740165-20-4.
Item 3. NOT APPLICABLE.
Item 4. OWNERSHIP.
As of December 31, 1998, Mr. Deason beneficially owned 3,535,927
shares, or 41.8%, of the Common Stock of the Issuer. Mr. Deason
has the sole power to vote or to direct the vote of 3,535,927
shares of Common Stock of the Issuer. Mr. Deason has the sole
power to dispose or to direct the disposition of 1,445,542 shares
of Common Stock of the Issuer.
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable
Page 3 of 5 Pages
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Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
Not applicable
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable
Item 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable
Item 10. CERTIFICATION.
Not applicable
Page 4 of 5 Pages
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CUSIP NO. 740165-20-4 13G PAGE 5 OF 5 PAGES
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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 15, 1999
By: /s/ Darwin Deason
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Darwin Deason
