UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
NAME OF ISSUER: AURORA ELECTRONICS, INC.
TITLE OF CLASS OF SECURITIES: COMMON STOCK, $.03 PAR VALUE
CUSIP Number: 05162910
NAME, ADDRESS AND TELEPHONE NUMBER OF
PERSON AUTHORIZED TO RECEIVE NOTICES
AND COMMUNICATIONS: RICHARD WHITMAN
THE BENCHMARK COMPANY, INC.
750 LEXINGTON AVENUE
NEW YORK, NY 10022
(212) 421-4080
DATE OF EVENT WHICH
REQUIRES FILING OF THIS
STATEMENT: DECEMBER 9, 1997
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Benchmark Company, Inc. 11-2950925
Benchmark Partners LP 11-2955345
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) X
(b)
3. SEC USE ONLY
4. SOURCE OF FUNDS
The Benchmark Company, Inc. OO
Benchmark Partners LP WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
The Benchmark Company, Inc. New York
Benchmark Partners LP Delaware
7. SOLE VOTING POWER
8. SHARED VOTING POWER
The Benchmark Company, Inc. 347,022 shares
Benchmark Partners LP 17,881 shares
TOTAL 364,903 shares
9. SOLE DISPOSITIVE POWER
10. SHARED DISPOSITIVE POWER
The Benchmark Company, Inc. 347,022 shares
Benchmark Partners LP 17,881 shares
TOTAL 364,903 shares
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
The Benchmark Company, Inc. 347,022 shares
Benchmark Partners LP 17,881 shares
TOTAL 364,903 shares
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
The Benchmark Company, Inc. 4.85%
Benchmark Partners LP .25%
TOTAL 5.10%
14. TYPE OF REPORTING PERSON
The Benchmark Company, Inc. BD/IA
Benchmark Partners LP PN
NOTES TO FILING
1. Security and Issuer
The filing relates to the common stock, $.03 par value (the
"Stock") of Aurora Electronics, Inc. ("the Company"), whose
executive offices are located at 9477 Waples Street, Suite 150, San
Diego, CA 92121.
2. Identity and Background
The persons filing this statement are The Benchmark Company, Inc.
("TBCI"), a corporation organized under the laws of New York, and
Benchmark Partners LP ("Partners"), a limited partnership organized
under the laws of Delaware. TBCI and Partners are collectively
referred to herein as "Benchmark." The principal business of TBCI
is to act as a broker-dealer and an investment advisor and the
principal business of Partners is to invest in securities.
Benchmark is located at 750 Lexington Avenue, New York, NY 10022.
During the last five years, Benchmark has not been a party to a
proceeding of a judicial or administrative body.
Of the aggregate of 364,903 shares of the Stock which are the
subject of the statement, 17,881 are owned by Partners. The
remaining 347,022 shares of the Stock are beneficially owned by
TBCI, a registered broker-dealer and investment advisor, by virtue
of its investment control over the accounts of various customers
(the "Customers").
3. Source and Amount of Funds and Other Consideration
The aggregate purchase price of the Stock covered by this statement
is $998,288. Purchases of Stock by some of the Customers were in
margin accounts carried by Bear, Stearns Securities Corp., which
extends credit to Customers in the ordinary course of its business.
4. Purpose of Transaction
Benchmark purchased the Stock for investment purposes only.
Benchmark may make additional purchases or sales of the Stock.
Benchmark has no other plan or purpose with respect to any
extraordinary corporate transactions of the Company, nor any other
material change or event which would be subject to disclosure
pursuant to this item 4 of Schedule 13D.
5. Interest in the Issuer
Partners own 17,881 shares of the Stock. The Customers of TBCI own
an aggregate of 347,022 shares of the Stock. Partners own .25% of
the Stock outstanding and the Customers own an aggregate of 4.85%
of the Stock outstanding. Partners and TBCI combined are owners of
5.10% of the Stock of the Company.
6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer
There is no contract, arrangement, understanding or relationship
(legal or otherwise) between the persons named in item 2 of this
Schedule 13D and the Company. The officers, directors and
shareholders of TBCI are the general partners of Partners. The
Customers named in item 2 have granted discretionary authority to
TBCI with respect to their accounts. The undersigned is not aware
of any other understanding or relationship among or between any of
the Customers.
7. Exhibit
Following is the "Transaction Summary" which describes activity in
the Stock during the 60 calendar day period immediately preceding
the February 11, 1998 filing date:
DATE BUY/SELL SHARES COST/PROCEEDS
12/12/97 B 4500 4575
12/16/97 S -9000 -6669
12/16/97 B 9000 6800
12/17/97 B 3000 1927
12/18/97 B 22500 16927
12/22/97 B 10000 10052
12/23/97 B 10000 8927
12/24/97 B 5000 6329
12/26/97 B 12500 17709
12/29/97 B 31000 46552
12/30/97 B 10000 11621
12/31/97 B 26500 34604
1/6/98 B 3000 3430
1/8/98 B 10000 8804
1/9/98 B 6500 6554
1/13/98 B 28400 28452
1/14/98 B 18450 20283
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement
is true, complete and correct.
DATE: February 11, 1998
THE BENCHMARK COMPANY, INC.
BY: Richard Whitman
President
BENCHMARK PARTNERS LP
BY: Richard Whitman
General Partner
BY: Lorraine DiPaolo
General Partner
