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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
PHARMANETICS, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
71713J107
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(CUSIP Number)
September 21, 1999
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(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).
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1) Names of Reporting Persons/ I.R.S. Identification Nos. of Above Persons
(Entities Only)
Joseph H. Sherrill Jr.
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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
U.S.
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Number of (5) Sole Voting Power
Shares 353,250
Beneficially (6) Shared Voting Power
Owned by 29,560
Each (7) Sole Dispositive Power
Reporting 353,250
Person (8) Shared Dispositive Power
With 29,560
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9) Aggregate Amount Beneficially Owned by Each Reporting Person
382,810
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10) Check 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)
5.12%
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12) Type of Reporting Person (See Instructions)
IN
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Item 1(a). Name of Issuer:
PHARMANETICS, INC.
Item 1(b). Address of Issuer's Principal Executive Offices:
5301 Departure Drive
Raleigh, NC 27616
Item 2(a). Name of Person Filing:
Joseph H. Sherrill, Jr.
Item 2(b). Address of Principal Business Office or, if none, Residence:
1510 Stickney Point Road
Sarasota, FL 34231
Item 2(c). Citizenship:
U.S.
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
7173J107
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), check whether the filing person is a:
(a) [ ] Broker or Dealer registered under Section 15 of the Exchange Act;
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act;
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act;
(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
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(i) [ ] A 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:
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned:
382,810
(b) Percent of Class:
5.12%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
353,250
(ii) shared power to vote or to direct the vote:
29,560
(iii) sole power to dispose or to direct the disposition of:
353,250
(iv) shared power to dispose or to direct the disposition of:
29,560
Item 5. Ownership of Five Percent or Less of a Class:
Not applicable
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:
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.
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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.
Dated: September 24, 1999
/s/ Joseph H. Sherrill, Jr.
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Joseph H. Sherrill, Jr.
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