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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)*
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)
Nanette N. Kelley, The Powell Group, P.O. Box 788, Baton Rouge, Louisiana 70821
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
July 30, 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 [ ]
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.
(Continued on following pages)
(Page 1 of 4 Pages)
*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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This Amendment No. 1 ("Amendment No. 1") amends and supplements the
Schedule 13D, relating to the common stock, $.01 par value per share, of ERLY
Industries Inc., a California corporation (the "Company"), previously filed by
The Powell Group, Farmers Rice Milling Company, Inc., Nanette N. Kelley, First
Global Securities, Inc. and Noble B. Trenham.
1. Item 4 of the Schedule 13D, "Purpose of Transaction," is hereby amended
to add the following:
On July 30, 1997, Farmers Rice Milling Company, Inc. and Nanette N. Kelley
delivered to the Company a request to inspect the accounting books and records
of the Company on August 6, 1997. A copy of the request is attached to this
Amendment No. 1 as Exhibit 1 and is incorporated herein by reference.
2. Item 7 of the Schedule 13D, "Material to be Filed as Exhibits," is
hereby amended to add the following:
1. Request to inspect accounting books and records of ERLY Industries
Inc., dated July 30, 1997.
3. Except as specifically provided herein, this Amendment No. 1 does not
modify any of the information previously reported on the Schedule 13D.
2 of 4
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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.
Date: July 31, 1997 The Powell Group
By: /s/ Nanette N. Kelley
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Name: Nanette N. Kelley
Title: President and Chief Executive Officer
Date: July 31, 1997 Farmers Rice Milling Company, Inc.
By: /s/ Nanette N. Kelley
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Name: Nanette N. Kelley
Title: President and Chief Executive Officer
Date: July 31, 1997 /s/ Nanette N. Kelley
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Nanette N. Kelley
Date: July 31, 1997 First Global Securities, Inc.
By: /s/ Noble B. Trenham
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Name: Noble B. Trenham
Title: Co-Chairman
Date: July 31, 1997 /s/ Noble B. Trenham
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Noble B. Trenham
3 of 4
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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1. Request to inspect accounting books and records of ERLY Industries
Inc., dated July 30, 1997.
4 of 4
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EXHIBIT 1
July 30, 1997
Douglas A. Murphy
President and Chief Operating Officer
ERLY Industries Inc.
10990 Wilshire Boulevard, #1800
Los Angeles, California 90024-3955
Re: ERLY Industries Inc. - Request to Inspect Accounting Books and Records
Dear Mr. Murphy:
The undersigned, record shareholders of ERLY Industries Inc. (the
"Company"), hereby demand, pursuant to Section 1601 of the California
Corporations Code, the right to inspect (including the right to copy and make
extracts) the accounting books and records of the Company. Representatives of
the undersigned will come to the executive offices of the Company at 9:00 a.m.
on August 6, 1997 to commence such inspection.
The purpose of this inspection is to assist the undersigned in determining
whether to increase their investment in the Company and to evaluate the
fairness, significance and extent of transactions involving the Company and its
subsidiaries in which members of management have a personal financial interest.
The undersigned hereby designate and authorize Andrew E. Bogen, Peter F.
Ziegler and Bradford P. Weirick, their respective partners and any other persons
to be designated by them, acting together, singly or in combination, to conduct
the inspection and copying herein demanded. If you have any questions
concerning the foregoing, please contact Bradford P. Weirick at 213-229-7765.
Very truly yours,
FARMERS RICE MILLING COMPANY
By: /s/ Nanette N. Kelley
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Nanette N. Kelley
President
NANETTE KELLEY
/s/ Nanette N. Kelley
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