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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3 )*
---------
ERLY INDUSTRIES, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
26883910
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(CUSIP Number)
Michael L. Tenzer
11400 West Olympic Boulevard, Suite 1040
Los Angeles, California 90064 Tel: (310) 820-6000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 7, 1997
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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(b)(3) or (4), check the following
box / /.
Check the following box if a fee is being paid with this 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).
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SCHEDULE 13D
CUSIP No. 26883910 Page 2 of 7 Pages
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(1) NAMES OF REPORTING PERSONS. S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS
KINGWOOD LAKES SOUTH, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / /
OF A GROUP* (b) /X/
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
N/A
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(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
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NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY OWNED 276,666 SHARES
BY EACH REPORTING --------------------------------------------------
PERSON WITH (8) SHARED VOTING POWER
--------------------------------------------------
(9) SOLE DISPOSITIVE POWER
276,666 SHARES
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
276,666 SHARES
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(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
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(14) TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPOSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP No. 26883910 Page 3 of 7 Pages
--------- --- ---
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(1) NAMES OF REPORTING PERSONS. S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS
TENZER COMPANY, INC.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / /
OF A GROUP* (b) /X/
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
N/A
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(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware corporation
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NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING --------------------------------------------------
PERSON WITH (8) SHARED VOTING POWER
276,666 SHARES
--------------------------------------------------
(9) SOLE DISPOSITIVE POWER
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
276,666 SHARES
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
276,666 SHARES
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
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(14) TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPOSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 26993910 Page 4 of 7 Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS. S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS
MICHAEL L. TENZER
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / /
OF A GROUP* (b) /X/
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
N/A
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(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING --------------------------------------------------
PERSON WITH (8) SHARED VOTING POWER
276,666 SHARES
--------------------------------------------------
(9) SOLE DISPOSITIVE POWER
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
276,666 SHARES
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
276,666 SHARES
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
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(14) TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPOSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
This Statement relates to the Schedule 13D (the "Schedule 13D") filed by
Kingwood Lakes South, L.P., Tenzer Company, Inc. and Michael L. Tenzer with
regard to beneficial ownership of common stock, par value $1.00 per share (the
"Common Stock") of ERLY Industries, Inc. (the "Company") and constitutes
Amendment No. 3 thereto. Terms used herein and not otherwise defined have the
meaning set forth in the Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5(a) is hereby amended and restated to read in its entirety as
follows:
As of the date hereof, the Limited Partnership beneficially owns 276,666
shares of the Common Stock, constituting 5.8% of the 4,739,180 shares of Common
Stock outstanding as reported by the Company in its Form 10-Q for the quarter
ended September 30, 1996. The General Partner, which controls the Limited
Partnership, and Mr. Tenzer, who controls the General Partner, also may be
deemed to have beneficial ownership of these Shares.
Ms. May beneficially owns 57 shares of Common Stock, all of which are held
in an individual retirement account in Ms. May's name.
Item 5(c) is hereby amended by adding the following:
In September 1996, the Company paid a 10% stock dividend on its shares of
Common Stock. As a result of the stock dividend, Mr. Murphy received 38,333
shares of the Company's Common Stock with respect to the 383,333 shares of
Common Stock that originally had been pledged to the Limited Partnership
pursuant to the Security Agreement (as adjusted to include the 50,000 shares
received as a stock dividend in September 1995). The Security Agreement grants
the Limited Partnership a security interest in such shares and accordingly the
share ownership of the Limited Partnership as described in Item 5(a) includes
such shares. However, as of the date hereof, Mr. Murphy has not delivered the
certificate(s) representing any of the shares received as a stock dividend, nor
any stock powers with respect thereto, to the Limited Partnership, although the
Limited Partnership has requested delivery of such certificate(s) and stock
powers.
The Limited Partnership engaged in the following sales of Shares during the
past sixty days, all of which took place on the NASDAQ National Market System in
brokerage transactions:
5
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Number of
Date Shares Sold Price*
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December 19, 1996 1,000 $7.625
December 19, 1996 2,000 $7.625
January 7, 1997 142,000 $6.875
* Exclusive of brokerage commissions.
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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.
KINGWOOD LAKES SOUTH, L.P., a
Texas Limited Partnership
By: TENZER COMPANY, INC., a
Delaware corporation, as General Partner
January 8, 1997 By: /s/ Michael L. Tenzer
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Date Michael L. Tenzer
Title: President
TENZER COMPANY, INC., a Delaware
corporation
January 8, 1997 By: /s/ Michael L. Tenzer
- --------------------------- ----------------------------
Date Michael L. Tenzer
Title: President
MICHAEL L. TENZER
January 8, 1997 /s/ Michael L. Tenzer
- --------------------------- --------------------------------
Date Michael L.Tenzer
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