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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Implant Sciences Corporation
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(Name of Issuer)
Common Stock, $.10 par value
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(Title of Class of Securities)
45320R 10 8
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(CUSIP Number)
Garth D. Adams, Esq.
Belin Lamson McCormick Zumbach Flynn
A Professional Corporation
The Financial Center
666 Walnut Suite 2000
Des Moines, IA 50309-3989
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 6, 2000
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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(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
*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 disclosures provided in a prior cover page.
The information required on 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. 45320R 10 8 13D PAGE 1 OF 5 PAGES
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Med-Tec Iowa, Inc.; IRS Identification No. 42-1404269
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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 SOURCE OF FUNDS (See Instructions)
WC/BK
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5 CHECK 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
Iowa
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7 SOLE VOTING POWER
NUMBER OF
500,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
500,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
500,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6
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14 TYPE OF REPORTING PERSON (See Instructions)
CO
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ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of common stock, $.10 par value of Implant
Sciences Corporation, whose principal offices are located at 107 Audubon Road
#5, Wakefield, Massachusetts 01880.
ITEM 2. IDENTITY AND BACKGROUND.
Med-Tec Iowa, Inc., an Iowa corporation, the principal place of business of
which is located at 1401 8th Street, Orange City, Iowa 51041. The principal
business of the Reporting Person is manufacturing and distributing products
used in radiation therapy.
(d.) Reporting Person has not, during the last five years, been
convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e.) Reporting Person has not, during the last five years, been a
party to a civil proceeding of a judicial or administrative
body of competent jurisdiction, nor, as a result of such
proceeding, was or is subject to judgment, decree or final
order enjoining future violations of, or prohibiting or
maintaining activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The 500,000 shares were paid for by using working capital of The Reporting
Person and by partially drawing upon on an existing line of credit between The
Reporting Person and LaSalle Bank, National Association.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Person intends to hold the shares for investment.
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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Beneficial Ownership
The Reporting Person is the beneficial owner of 500,000 shares
of Common Stock. Based on the Company's most recent public
filings, this represents beneficial ownership of 9.6% of the
Company's Common Stock.
(b) Voting and Dispositive Powers
The Reporting Person has sole voting and dispositive power
with respect to the shares of Common Stock beneficially owned
by it.
(c) Transactions in Securities of the Company During the Past
Sixty Days.
Other than as set forth herein, the Reporting Person has not
made any purchase or sales of securities of the Company during
the sixty (60) days preceding the date of this Schedule 13D.
(d) Dividends and Proceeds
Other than the Reporting Person, no person is known to have
the right to receive or the power to direct the receipt of the
dividends from, or the proceeds from the sale of, the Common
Stock beneficially owned by the Reporting Person.
(e) Date Reporting Person Ceased to be Beneficial Owner of More
than 5% of the Company's Stock.
N/A
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
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SIGNATURES
After reasonable inquiry and to the best of the Reporting Person's knowledge and
belief, the Reporting Person certifies that the information set forth in this
statement is true, complete and correct.
March 15, 2000
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Date
/s/ Michael J. Richards
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Signature
Michael J. Richards, Chairman
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Name/Title
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