United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20539
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Digital Products Corporation
(Name of Issuer)
Common Stock, par value $.025 per share
(Title of Class of Securities)
253867303
(CUSIP Number)
Thomas P. Gallagher, Esq., Mason, Briody, Gallagher & Taylor
104 Carnegie Center, Suite 201, Princeton, New Jersey 08540
(609) 987-1381
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
July 31, 1995
(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(b)(3) or (4), check the following box [].
Check the following box if a fee is being paid with the statement []. (A fee is
not required only if the reporting 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).
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).
<PAGE>
SCHEDULE 13D
CUSIP No. 253867303
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard A. Angulo
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[]
(b)[]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
00
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS []
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not Applicable
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,336,140
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING -0-
PERSON
WITH 9 SOLE DISPOSITIVE POWER
736,140
10 SHARED DISPOSITIVE POWER
-0-
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,336,140
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* []
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.44%
14 TYPE OF REPORTING PERSON
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDES BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
<PAGE>
Item 1 Security and Issuer.
--------------------
Digital Products Corporation Common Stock, $.025 par value per share
("Common Stock")
Address of Issuer's Principal Executive Offices:
Digital Products Corporation
800 N.W. 33rd Street
Pompano Beach, Florida 33064
Item 2 Identity and Background.
------------------------
(a) Name: Richard A. Angulo
(b) Residence or Business Address:
c/o Digital Products Corporation
800 N.W. 33rd Street
Pompano Beach, Florida 33064
(c) Present Principal Occupation or Employment and the Name, Business
Address and Address of Any Corporation or Other Organization in
Which Such Employment is Conducted:
Mr. Angulo is the President and Chief Executive Officer of the
Issuer, a company providing information management solutions to
specific aspects of the criminal justice and corrections
industry, the construction trade and to multi-national
corporations. Mr. Angulo also serves as a director of the
Issuer.
(d) Whether or not, during the last five years, such person has been
convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors) and, if so, give the dates, nature of
conviction, name and location of court, any penalty imposed, or
other disposition of the case: Not Applicable.
(e) Whether or not, during the last five years, such person was 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 activity
subject to, federal or state securities laws or finding any
violation with respect to such laws; and, if so, identify and
describe such proceedings and summarize the terms of such
judgment, decree or final order: Not Applicable.
(f) Citizenship: USA
<PAGE>
Item 3 Source and Amount of Funds or Other Consideration.
--------------------------------------------------
Item 3 is hereby amended and supplemented to add the following
information:
On July 31, 1995, the Issuer issued to Richard A. Angulo 200,000
shares of Common Stock (valued at $0.20 per share), pursuant to the
terms of an Employment Agreement (the "Employment Agreement") between
Mr. Angulo and the Issuer, in consideration of past service rendered
to the Issuer.
Item 4 Purpose of Transaction.
-----------------------
Item 4 is hereby amended and supplemented to add the following
information:
(a) Mr. Angulo acquired all of the 200,000 shares of Common Stock for
investment purposes only, and he has no present plans or
proposals, and is not aware of any plans or proposals, which
relate to or would result in any action enumerated in the
instructions to Item 4 of Schedule 13D. However, Mr. Angulo
reserves the right to make such plans or proposals in the future,
although he has no intention to do so at the present time.
(b) Not Applicable.
(c) Not Applicable.
(d) Not Applicable.
(e) Not Applicable.
(f) Not Applicable.
(g) Not Applicable.
(h) Not Applicable.
(i) Not Applicable.
(j) Not Applicable.
Item 5 Interest in Securities of the Issuer.
-------------------------------------
Item 5 is hereby amended and supplemented to add the following
information:
(a) Amount Beneficially Owned: Mr. Angulo presently holds of record
850,000 shares of Common Stock, 600,000 of which are subject to
the escrow arrangement described in the Schedule 13D dated
January 9, 1995 filed by Mr. Angulo.
<PAGE>
Additionally, Mr. Angulo holds of record currently exercisable
stock options permitting him to acquire 486,140 additional shares
of Common Stock. Accordingly, pursuant to Rule 13d-3(d)(1)
promulgated under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), Mr. Angulo is deemed the beneficial owner
of 1,336,140 shares of Common Stock. Such 1,336,140 shares
represents approximately 11.44% of the Issuer's issued and
outstanding Common Stock. Such calculation is based upon the
11,189,267 shares of Common Stock outstanding, plus the 486,140
shares of Common Stock which Mr. Angulo currently has the option
to acquire.
(b) Voting or Disposition Power: Mr. Angulo has sole power to vote
or direct the voting and sole power to dispose or direct the
disposition of 250,000 of the shares of Common Stock deemed
beneficially owned by him. 600,000 of the shares of Common Stock
owned by Mr. Angulo are subject to the escrow arrangement
described in the Schedule 13D dated January 9, 1995 filed by Mr.
Angulo
(c) Transactions: Reference is made to Item 3 above, which is
incorporated herein in its entirety.
(d) Other Person: Not Applicable.
(e) Date Ceased to be Beneficial Owner: Not Applicable.
Item 6 Contracts, Arrangements, Understandings or Relationships with Respect
---------------------------------------------------------------------
to Securities of the Issuer.
----------------------------
Item 6 is hereby amended and supplemented to add the following
information:
Reference is made to Item 3 above, which is incorporated herein in its
entirety.
<PAGE>
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: August 1, 1995 /s/ Richard A. Angulo
---------------------
Richard A. Angulo
