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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)
Redlaw Industries Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of securities)
757636303
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(CUSIP number)
J. Reid Bingham, Esq.
Bingham & Associates
P.O. Box 14-4991
Coral Gables, Florida 33114
(305) 444-8141
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(Name, address and telephone number of person
authorized to receive notices and communications)
December, 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 .
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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.)
(Continued on following pages)
(Page 1 of 4 Pages)
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CUSIP No. 757636303 13D Page 2 of 4 Pages
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1 NAME OF REPORTING PERSONS David L. Chandler
SS. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ______
(b) ______
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3 SEC USE ONLY
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4 SOURCE OF FUNDS* PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) _____
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Canada
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NUMBER OF 7 SOLE VOTING POWER 1,612,721
SHARES ___________________________________________________________
BENEFICIALLY 8 SHARED VOTING POWER -----
OWNED BY ___________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER 4,111,640
REPORTING ___________________________________________________________
PERSON WITH 10 SHARED DISPOSITIVE POWER 46,250
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,157,890
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* ______
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 62.12%
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14 TYPE OF REPORTING PERSON* IN
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AMENDMENT NO. 7 TO SCHEDULE 13D
This Schedule 13D is hereby amended as follows:
1. Item 3, Source and Amount of Funds or Other Consideration, is
amended to add at the end of such item the following:
On the following dates Mr. Chandler, directly or indirectly through the
Johnston Industries Inc. Rabbi Trust established for his benefit, loaned from
his personal or its general funds the amounts set forth below to Redlaw and
received in consideration five year 10% promissory notes convertible at the
holder's option into shares of common stock of Johnston Industries Inc. or the
shares of Redlaw Common Stock set forth below:
<TABLE>
<CAPTION>
Shares of Redlaw Common
Date Amount Conversion Price Stock Upon Conversion
---- ------ ---------------- -------------------------
<S> <C> <C> <C> <C>
02/04/97 US$10,000 US$1.00 per share 10,000
02/08/97 US$10,000 US$1.125 per share 8,888
02/21/97 US$5,000 US$1.0625 per share 4,705
02/24/97 Cdn$13,131 US$1.1875 per share 8,072
02/25/97 US$17,000 US$1.1875 per share 14,315
03/03/97 US$5,000 US$1.1875 per share 4,210
03/13/97 US$10,000 US$1.125 per share 8,888
03/21/97 US$7,500 US$0.9375 per share 8,000
04/10/97 US$130,000 US$0.8125 per share 160,000
09/03/97 US$180,000 US$0.42 per share 428,571
12/01/97 US$35,000 US$0.75 per share 46,666
12/31/97 US$3,150 US$0.75 per share 4,200
12/31/97 US$300,000 US$0.75 per share 400,000
</TABLE>
2. Item 5, Interest in Securities of the Issuer, is amended to add at
the end of such item the following:
On the dates described in Item 3 Mr. Chandler, directly or indirectly
through the Johnston Industries Inc. Rabbi Trust established for his benefit,
acquired the right to convert the promissory notes described in Item 3 into
1,106,515 shares of Redlaw Common Stock.
The total number of shares of Redlaw Common Stock directly or
beneficially owned by Mr. Chandler is now 4,157,890 or approximately 62.12% of
the outstanding shares of Redlaw Common Stock.
Page 3 of 4 pages.
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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.
JANUARY 12, 1998
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(Date)
/s/ DAVID L. CHANDLER
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(Signature)
David L. Chandler
Page 4 of 4 pages.
