UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. __________)*
HYDRON TECHNOLOGIES, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
449020-10-6000
------------------------------------------------------
(CUSIP Number)
Richard Banakus Jeffrey R. Mann, Esq.
82 Verissimo Drive Rubin Baum Levin Constant & Friedman
Novato, California 94947 30 Rockefeller Plaza, 29th Floor
(415) 897-9167 New York, New York 10112
(212) 698-7700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
May 27, 1997
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
In 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.
* 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).
Exhibit Index is on page 22
Page 1 of 28
<PAGE>
SCHEDULE 13D
- ------------------------ -------------------
CUSIP NO. 449020-10-6000 Page 2 of 28 Pages
- ------------------------ -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Richard Banakus (Social Security No. ###-##-####)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 1,520,000
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 1,520,000
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,520,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 2 of 28
<PAGE>
SCHEDULE 13D
- -------------------------- ------------------
CUSIP NO. 449020-10-6000 Page 3 of 28 Pages
- -------------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Hugues Lamotte (Social security no. N/A)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 420,000
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 420,000
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
420,000 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 3 of 28
<PAGE>
SCHEDULE 13D
- -------------------------- ------------------
CUSIP NO. 449020-10-6000 Page 4 of 28 Pages
- -------------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Donald Bakalor (Social Security No. ###-##-####)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 364,850
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 364,850
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
364,850 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 4 of 28
<PAGE>
SCHEDULE 13D
- ------------------------ -------------------
CUSIP NO. 449020-10-6000 Page 5 of 28 Pages
- ------------------------ -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Oddvin Lokken (Social Security No. ###-##-####)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 100,000
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 100,000
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 5 of 28
<PAGE>
SCHEDULE 13D
- -------------------------- ------------------
CUSIP NO. 449020-10-6000 Page 6 of 28 Pages
- -------------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Etienne des Roys (Social security no. N/A)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 58,000
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 58,000
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
58,000 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 6 of 28
<PAGE>
SCHEDULE 13D
- ------------------------ ------------------
CUSIP NO. 449020-10-6000 Page 7 of 28 Pages
- ------------------------ ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Jean-Francois Vert (Social Security No. N/A)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 85,000
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 85,000
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
85,000 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 7 of 28
<PAGE>
SCHEDULE 13D
- ------------------------ -------------------
CUSIP NO. 449020-10-6000 Page 8 of 28 Pages
- ------------------------ -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Ira Alpert (Social Security No. ###-##-####)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 95,000
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 95,000
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
95,000 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 8 of 28
<PAGE>
SCHEDULE 13D
- -------------------------- ------------------
CUSIP NO. 449020-10-6000 Page 9 of 28 Pages
- -------------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Per K. Reichborn (Social Security No. ###-##-####)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Norway
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 404,930
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 404,930
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
404,930 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 9 of 28
<PAGE>
SCHEDULE 13D
- -------------------------- -------------------
CUSIP NO. 449020-10-6000 Page 10 of 28 Pages
- -------------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
David Baker (Social Security No. ###-##-####)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 100,000
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 100,000
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 10 of 28
<PAGE>
SCHEDULE 13D
- -------------------------- -------------------
CUSIP NO. 449020-10-6000 Page 11 of 28 Pages
- -------------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Bernard D. Gold (Social Security No. ###-##-####)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 146,466
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 146,466
REPORTING -------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER 0
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
146,466 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION.
Page 11 of 28
<PAGE>
Item 1. Security and Issuer.
This Statement on Schedule 13D relates to the common stock, par value $.01
per share (the "Common Stock"), of Hydron Technologies, Inc., a New York
corporation (the "Issuer"). The Issuer's principal executive offices are located
at 1001 Yamato Road, Suite 403, Boca Raton, Florida 33431.
Item 2. Identity and Background.
This report is being filed by (a) Richard Banakus ("Banakus"); (b) Hugues
M. Lamotte ("Lamotte"); (c) Donald Bakalor ("Bakalor"); (d) Oddvin Lokken
("Lokken"); (e) Etienne des Roys ("des Roys"); (f) Jean-Francois Vert ("Vert");
(g) Ira Alpert ("Alpert"); (h) Per K. Reichborn ("Reichborn"); (i) David Baker
("Baker") and (j) Bernard D. Gold ("Gold" and, collectively with Banakus,
Lamotte, Bakalor, Lokken, des Roys, Vert, Alpert, Reichborn and Baker, the
"Reporting Persons").
The business address and present principal occupations of each of the
Reporting Persons is as follows:
Name Business Address Principal Occupation
- ---- ---------------- --------------------
Banakus 82 Verissimo Drive Private Investor
Novato, CA 94947
Lamotte 166 Piccadilly Money Manager
London, W1X 9DE Atlas Capital Limited
England
Bakalor 1299 North Avenue Real Estate
New Rochelle, NY 10804 Wykagyl Agency Inc.
Lokken 30 East 37th Street Dentist
New York, NY 10016
Page 12 of 28
<PAGE>
des Roys 9, Avenue Hoche Model Agency
75008, Paris, France Karin Models
Vert 32 Rue la Boetie Money Manager
75008, Paris, France Athena Alternative
Asset Management
Alpert 1775 Broadway Money Manager
New York, NY 10019 Gilder, Gagnon, Howe
Reichborn 420 West Avenue Manufacturing
Stamford, CT 06902 Goodway Technologies
Corp.
Baker 1221 Post Rd. E. Investor
Westport, CT 06880 Berkshire Capital Partners
Gold 120 Dogwood Ave. Retired/Academic position
Roslyn Harbor, NY 11576 at Columbia School of
Dental & Oral Surgery
None of the Reporting Persons has, during the last five years, been (i)
convicted in a criminal proceeding, or (ii) a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, 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.
For the citizenship of the Reporting Persons, see the information
contained in item (6) of the applicable cover page of this Statement on Schedule
13D.
Page 13 of 28
<PAGE>
Item 3. Source and Amount of Funds and Other Consideration.
The shares of Common Stock of the Issuer beneficially owned, respectively,
by each of the Reporting Persons were purchased in open market brokerage
transactions, privately negotiated transactions or through the issuance or
exercise of options.
The net investment cost (including commissions, if any) of the shares of
Common Stock beneficially owned directly by each of the Reporting Persons is as
follows:
Name Net Investment Cost
- ---- -------------------
Banakus $ 3,824,156
Lamotte 650,000
Bakalor 806,600
Lokken *
des Roys *
Vert 447,500
Alpert *
Reichborn 903,542**
Baker 400,000 (estimate)
Gold 159,241**
The shares of Common Stock purchased by Banakus, Lamotte, Bakalor, Alpert,
Reichborn, Baker and Gold were all purchased with private funds.
* Net investment cost information for such Reporting Person is not available.
** Figures include net investment cost only for shares directly held by this
Reporting Person. Net investment cost for indirectly held shares is not
available.
Page 14 of 28
<PAGE>
Item 4. Purpose of the Transaction.
The Reporting Persons are filing this Schedule 13D because, as a result of
certain matters reported under this Item 4 and Item 6 below, they may be deemed
to constitute a "group" under Rule 13d-5 promulgated under the Securities
Exchange Act of 1934, as amended ("Rule 13d-5").
The shares of Common Stock acquired by each of the Reporting Persons were
all acquired in open market brokerage transactions, privately negotiated
transactions or through the issuance or exercise of options, in the ordinary
course of business and were all made solely for investment purposes. Although
the shares of Common Stock purchased by the Reporting Persons were acquired
solely for investment purposes, some or all of the Reporting Persons intend to
pursue discussions with the Issuer's management in the future to consider
various possible actions with respect to the Issuer that might maximize value
for the Issuer's shareholders, including without limitation, the replacement of
certain senior executive officers and directors of the Issuer and restrictions
on the payment of executive compensation and the payment of dividends. In the
event any such discussions with management do not result in the creation of
opportunities for enhancing shareholder value, the Reporting Persons may
consider the solicitation of proxies.
Each Reporting Person reserves the right to make purchases of shares of
Common Stock from time to time in the open market or otherwise and to dispose of
any or all of the shares of Common Stock held by such Reporting Person at any
time. Each
Page 15 of 28
<PAGE>
Reporting Person's determination with respect to the foregoing possibilities
will depend upon the performance of the Issuer's management and other factors,
including, but not limited to, some or all of the following: market activity in
shares of Common Stock, the Reporting Person's evaluation of the Issuer and its
prospects, the Reporting Person's analysis of the industry in which the Issuer
operates and general market and economic conditions.
None of the Reporting Persons has any present plans or proposals which
relate to, or could result in, any of the matters referred to in paragraphs (a)
through (j), inclusive, of Item 4 of Schedule 13D except to the extent described
in this Item 4 and Item 6 below, to which reference is hereby made. Each
Reporting Person may, at any time and from time to time, review or reconsider
his or her position and formulate plans or proposals with respect thereto, but
have no present intention of doing so.
Item 5. Interest in Securities of the Issuer.
(a) and (b) The aggregate number and percentage of the class of securities
identified in Item 1 beneficially owned by each person named in Item 2 above are
as follows:
1) Banakus: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
Banakus. Banakus is the beneficial owner of 1,520,000 shares of Common Stock
Page 16 of 28
<PAGE>
of the Issuer. Banakus directly owns such shares of Common Stock. Of such
1,520,000 shares of Common Stock, 20,000 shares are represented by directors'
options.
2) Lamotte: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
Lamotte. Lamotte is the beneficial owner of 420,000 shares of Common Stock of
the Issuer. Lamotte directly owns such shares of Common Stock. Of such 420,000
shares of Common Stock, 120,000 shares are represented by options.
3) Bakalor: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
Bakalor. Bakalor is the beneficial owner of 364,850 shares of Common Stock of
the Issuer. Of such 364,850 shares, Bakalor directly owns 142,000 shares,
219,300 shares are held in the name of Wykagyl Agency Inc. Retirement Trust,
with Bakalor as trustee, and 3,550 shares are held in an IRA account under
Donald Bakalor IRA.
4) Lokken: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
Lokken. Lokken is the beneficial owner of 100,000 shares of Common Stock of the
Issuer. Lokken directly owns such shares of Common Stock.
Page 17 of 28
<PAGE>
5) des Roys: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
des Roys. des Roys is the beneficial owner of 58,000 shares of Common Stock of
the Issuer. des Roys directly owns such shares of Common Stock.
6) Vert: See the information contained in items (11) and (13) of the
applicable cover page of this Statement on Schedule 13D for a description of the
aggregate number and percentage of outstanding shares beneficially owned by
Vert. Vert is the beneficial owner of 85,000 shares of Common Stock of the
Issuer. Of such 85,000 shares of Common Stock, Vert directly owns 65,000 shares
and 20,000 shares are held by Stanel, a corporation wholly-owned by Vert.
7) Alpert: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
Alpert. Alpert is the beneficial owner of 95,000 shares of Common Stock of the
Issuer. Of such 95,000 shares of Common Stock, Alpert directly owns 85,000
shares and 10,000 shares are held by the Ira and Marylou Alpert Foundation.
8) Reichborn: See the information contained in items (11) and (13)
of the applicable cover page of this Statement on Schedule 13D for a description
of the aggregate number and percentage of outstanding shares beneficially owned
by Reichborn. Reichborn is the beneficial owner of 404,930 shares of Common
Stock
Page 18 of 28
<PAGE>
of the Issuer. Of such 404,930 shares of Common Stock, Reichborn directly owns
235,530 shares, 117,200 shares are held in the Goodway Technologies Corp.
Pension Plan, with Reichborn as trustee and 52,200 shares are held by Goodway
Technologies Corp. corporate accounts. Reichborn currently serves as the Chief
Executive Officer of Goodway Technologies Corp.
(9) Baker: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
Baker. Baker is the beneficial owner of 100,000 shares of Common Stock of the
Issuer, all of which shares are held in the name of Berkshire Capital Partners,
L.P.D., an entity organized under the laws of Tortola. Baker currently serves as
the President of Berkshire Capital Partners, L.P.D. and holds 100% of the
ownership interests therein.
10) Gold: See the information contained in items (11) and (13) of
the applicable cover page of this Statement on Schedule 13D for a description of
the aggregate number and percentage of outstanding shares beneficially owned by
Gold. Gold is the beneficial owner of 146,466 shares of Common Stock of the
Issuer. Of such 146,466 shares of Common Stock, Gold directly owns 77,360
shares, 16,500 shares are held jointly with Gold's spouse, Denise Gold, and
52,600 shares are held in the name of the Bernard D. Gold, DMD and Andrew P.
Marks, DDS, P.C., Pension Trust. Gold serves as a trustee of such pension trust
and Gold has shared voting and dispositive power with respect to such 52,600
shares.
Page 19 of 28
<PAGE>
Such 146,466 shares of Common Stock of the Issuer do not include 51,500 shares
held by Denise Gold, of which shares Gold disclaims beneficial ownership.
By virtue of the understanding among them described in Item 4 above and
Item 6 below, the Reporting Persons may be deemed to constitute a "group" under
Rule 13d-5. The Reporting Persons, in the aggregate, beneficially own, directly
and indirectly, a total of 3,294,246 shares of Common Stock constituting 13.3%
of the outstanding shares of Common Stock of the Issuer (based upon the Issuer's
statement in its annual report on Form 10-K for the fiscal year ended December
31, 1996 that the number of outstanding shares of Common Stock, as of March 27,
1997, was 24,776,816 and assuming, for purposes of such calculation, the
exercise of all currently exercisable options held by Banakus and Lamotte).
Each Reporting Person disclaims beneficial ownership of shares of Common
Stock that are, or may deemed to be, beneficially owned by or on behalf of any
other person, to the extent beneficial ownership by such Reporting Person of
such shares of Common Stock may result from such other person's being deemed to
be a member of a group, for purposes of Rule 13d-5, with such Reporting Person.
(c) During the last 60 days, no transactions with regard to the securities
of the Issuer were effected by the Reporting Persons.
(d) Not applicable.
(e) Not applicable.
Page 20 of 28
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Except to the extent described in Item 4 above and in this Item 6 (and the
Joint Filing Statement attached as Exhibit 1 hereto), there are no contracts,
arrangements, understandings or relationships (legal or otherwise) among the
Reporting Persons and between any of such Reporting Persons and any other person
with respect to any securities of the Issuer (including, but not limited to, any
contract, arrangement, understanding or relationship involving the transfer or
voting of any 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).
Gold has submitted to the Issuer a proposal for shareholder approval at
the Issuer's next annual meeting of shareholders, which proposal seeks to impose
restrictions of the grant of cash bonuses and stock options to employees or
directors of the Issuer (subject to pre-existing contractual obligations of the
Issuer) and to require that excess cash of the Issuer be utilized to repurchase
shares of Common Stock of the Issuer rather than for the payment of dividends or
other distributions to shareholders. In addition, the proposal would require
that any increase in salary or award of stock options be contingent upon an
increase in earnings per share of the Issuer of at least 50% over that reported
for fiscal year 1994. Each of the Reporting Persons currently intends to vote
all of the shares of Common Stock held by him or her in favor of such proposal.
Page 21 of 28
<PAGE>
The proposal submitted by Gold is attached hereto as Exhibit 2.
The Reporting Persons have agreed to share the legal costs and expenses in
connection with the preparation and filing of this Schedule 13D, pro rata on the
basis of the shares of Common Stock owned directly by each Reporting Person, and
may also do so in connection with any subsequent actions taken by the Reporting
Persons in furtherance of the objectives described in Item 4 above and this Item
6.
Item 7. Materials to be Filed as Exhibits.
(a) Exhibit 1: Joint statement on Schedule 13D as required by Rule
13d-1(f)(1)(iii) under the Securities Exchange Act of 1934, as amended.
(b) Exhibit 2: Copy of shareholder proposal, dated May 22, 1997, submitted
to the Issuer by Bernard Gold.
Page 22 of 28
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: May __, 1997
/s/ Richard Banakus
----------------------------------
Richard Banakus
/s/ Hugues Lamotte
----------------------------------
Hugues Lamotte
/s/ Donald Bakalor
----------------------------------
Donald Bakalor
/s/ Oddvin Lokken
----------------------------------
Oddvin Lokken
/s/ Etienne des Roys
----------------------------------
Etienne des Roys
/s/ Jean-Francois Vert
----------------------------------
Jean-Francois Vert
/s/ Ira Alpert
----------------------------------
Ira Alpert
/s/ Per K. Reichborn
----------------------------------
Per K. Reichborn
/s/ David Baker
----------------------------------
David Baker
/s/ Bernard D. Gold
----------------------------------
Bernard D. Gold
Page 23 of 28
<PAGE>
JOINT FILING STATEMENT
PURSUANT TO RULE 13d-1(f)(1)(iii)
The undersigned acknowledge and agree that the foregoing Statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this Statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing statements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning him or it contained therein, but shall not be
responsible for the completeness and accuracy of the information concerning the
other, except to the extent that he, she or it knows or has reason to believe
that such information is inaccurate.
Dated: May __, 1997
/s/ Richard Banakus
----------------------------------
Richard Banakus
/s/ Hugues Lamotte
----------------------------------
Hugues Lamotte
/s/ Donald Bakalor
----------------------------------
Donald Bakalor
/s/ Oddvin Lokken
----------------------------------
Oddvin Lokken
/s/ Etienne des Roys
----------------------------------
Etienne des Roys
Page 24 of 28
<PAGE>
/s/ Jean-Francois Vert
----------------------------------
Jean-Francois Vert
/s/ Ira Alpert
----------------------------------
Ira Alpert
/s/ Per K. Reichborn
----------------------------------
Per K. Reichborn
/s/ David Baker
----------------------------------
David Baker
/s/ Bernard D. Gold
----------------------------------
Bernard D. Gold
Page 25 of 28
Bernard D. Gold Denise L. Gold
120 Dogwood Avenue
Roslyn Harbor, NY 11576-1213
(516) 626-1185
EXHIBIT 2
May 22, 1997
Mr. Harvey Tauman, President
Hydron Technologies Inc.
1001 Yamato Rd. Suite 403
Boca Raton, FL 33431
Dear Mr. Tauman:
In accordance with letter dated May 8, 1997 (postmarked Washington, D.C.,
May 20, 1997) received today from the Office of the Chief counsel, Division of
Corporation Finance Re:
Hydron Technologies, Inc. (the "Company")
Incoming letter dated February 12, 1997
be advised that the original proposal is hereby modified in accordance with
guidelines suggested by the Office of the Chief Counsel.
The proposal is therefore presented in modified form as follows:
No stock options or cash bonuses be granted, in reference to future
contractual obligations, to Employees or Directors of HTEC; a recommendation is
made to the Board of Directors that all cash distributions to stockholders be
utilized to repurchase HTEC stock in the open market instead of being
distributed to shareholders in the form of cash: any increase in salary or award
of stock options shall be contingent upon an increase in earnings per share of
the corporation of at least 50% over that reported for the fiscal year 1994.
It is therefore expected that the above proposal and the previously sent
supporting statement be included in the proxy statement to be mailed to
shareholders prior to the forthcoming annual meeting. An expedited response to
this proposal and supporting statement is expected from the officers and
directors of the corporation.
Yours truly,
/s/ Bernard D. Gold /s/ Denise L. Gold
------------------------- -------------------------
Bernard D. Gold Denise L. Gold
PAGE 26 of 28
<PAGE>
Bernard D. Gold Denise L. Gold
120 Dogwood Avenue
Roslyn Harbor, NY 11576-1213
(516) 626-1185
December 16, 1996
Mr. Harvey Tauman, President
Hydron Technologies Inc.
1001 Yamato Rd. Suite 403
Boca Raton, Fl 33431
Dear Mr. Tauman:
In accordance with Rule 14a-8 (Proposals of Security Holders) promulgated
under the Securities Exchange Act of 1934, be advised that intention to present
a proposal for action at the forthcoming annual meeting of Hydron Technologies
Inc. security holders is hereby presented.
Bernard Gold and Denise L. Gold are currently holders of approximately
100,000 shares of HTEC, that they individually are beneficial owners of at least
$1,000.00 in market value of securities entitled to be voted at the meeting,
have each held such securities for at least one year, and shall continue to own
such securities through the date on which the meeting is to be held. Documentary
support of such ownership is provided with an enclosure relating to purchase of
some, but not all, of HTEC shares owned by the undersigned.
Proposal: No stock options or cash bonuses be granted to Employees or
Directors of HTEC, salary of any employee of the corporation be limited to
$100,000.00 per annum, all cash distributions to stockholders be utilized to
repurchase HTEC stock in the open market instead of being distributed to
shareholders in the form of cash. Any increase in salary or award of stock
options shall be contingent upon significant increase in earnings by the
corporation.
Supporting statement: Shareholder appreciation under current management has
not occurred. Compensation for Executives and Directors should be related to
increased profitability of the corporation and enhancement of the value of its
stock. Those responsible for leading and directing the company have been very
adequately rewarded for mediocre results while the vast majority of shareholders
have either entertained losses on their investment or seen no appreciation of
their investment in spite of the fact that our stock markets are in the midst of
the most significant and extended period of appreciation in history. Reward for
failure should not come from the pockets of the long suffering shareholders.
Please note that the above proposal and supporting statement comply with
the 500 word limitation of Rule 14a-8.
PAGE 27 of 28
<PAGE>
It is therefore expected that the above proposal and supporting statement
be included in the proxy statement to be mailed to shareholders prior to the
forthcoming annual meeting. An expedited response to this proposal and
supporting statement is expected from the officers and directors of the
corporation.
Yours truly,
/s/ Bernard D. Gold /s/ Denise L. Gold
Bernard D. Gold Denise L. Gold
cc: Richard Tauman
Chaudbury M. Prasad
Frank Fuir
Samuel M. Leb
Nestor M. Cardero
Joseph A. Caccamo
Richard Banakus
Hugues Lamotte
