SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Spanlink Communications Inc.
(Name of Issuer)
Common stock
(Title of Class of Securities)
84649210
(CUSIP Number)
Check the following box if a fee is being paid with this statement [X].
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*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).
(Continued on following page(s))
Page 1 of 4 Pages
<PAGE>
CUSIP No. 84649210 13G Page 2 of 4 Pages
1. NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Dougherty Summit Securities LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not applicable
(a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5. SOLE VOTING POWER 288,195 as of 12/31/97
211,283 as of 1/27/98
NUMBER
OF SHARES 6. SHARED VOTING POWER none
BENEFICIALLY
OWNED BY EACH
REPORTING 7. SOLE DISPOSITIVE POWER 288,195 as of 12/31/97
PERSON WITH 211,283 as of 1/27/98
8. SHARED DISPOSITIVE POWER none
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Dougherty Summit Securities: 288,195 as of 12/31/97
211,283 as of 1/27/98
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not applicable
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.7% as of 12/31/97
4.2 as of 1/27/98
12. TYPE OF REPORTING PERSON*
BD
<PAGE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1(a) Name of Issuer:
Spanlink Communications Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
7125 Northland Terrace
Minneapolis, MN 55428
Item 2(a) Name of Person Filing:
Dougherty Summit Securities LLC
Item 2(b) Address of Principal Business Office or, if none, residence:
90 South Seventh Street
Suite 4300 Norwest Center
Minneapolis, MN 55402
Item 2(c) Citizenship:
Delaware limited liability company
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
84649210
Item 3 Statement Filed Pursuant to Rules 13d-1(b) or 13d-2(b):
Dougherty Summit Securities LLC is a broker-dealer registered under
section 15 of the Act.
Item 4(a) Amount Beneficially Owned:
288,195 shares as of 12/31/97
211,283 shares as of 1/27/98
Item 4(b) Percent of Class:
5.7% as of 12/31/97
4.2% as of 1/27/98
Item 4(c) Number of Shares as to Which Such Person has:
(i) sole power to vote or direct the vote:
288,195 shares as of 12/31/97
211,283 shares as of 1/27/98
(ii) shared power to vote or to direct the vote:
none
(iii) sole power to dispose or to direct the disposition of:
288,195 shares as of 12/31/97
211,283 shares as of 1/27/98
(iv) shared power to dispose or to direct the disposition of:
288,195 shares as of 12/31/97
211,283 shares as of 1/27/98
Item 5 Ownership of Five Percent or Less of a Class:
This statement is being filed to report the fact that as of 1/27/98,
Dougherty Summit Securities LLC has ceased to be the beneficial owner of more
than 5 percent of the common stock of Spanlink Communications Inc. (Dougherty
Summit Securities LLC is also filing to fulfill its initial obligation under
Rule 13d-1(b)(1).
Page 3 of 4 Pages
<PAGE>
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 acquired in the ordinary course
of business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes and effect.
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.
Date: February 12, 1998.
/s/ Joseph D. Fleming
----------------------------------
Joseph D. Fleming, General Counsel
Page 4 of 4 Pages
