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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ENVIRONMENTAL TECTONICS CORPORATION
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.10 PER SHARE
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(Title of Class of Securities)
294092 10 1
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(CUSIP Number)
The information required in 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 (the "Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act.
CUSIP No. 294092 10 1
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1. Name of Reporting Person and I.R.S. Identification Number
Sirrom Capital Corporation -- Taxpayer I.D. No. 62-1583116
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2. Check the Appropriate Row if a Member of a Group
a. N/A
b. N/A
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3. SEC Use Only
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4. Citizenship or Place of Organization
Tennessee
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Number of Shares Beneficially Owned by Each Reporting Person With:
5. Sole Voting Power Total of 583,076 shares of Common Stock,
as follows:
416,666 shares of Common Stock,
receivable upon conversion of Series A
Convertible Preferred Stock (the
"Preferred Stock") at any time prior
to March 27, 2004; plus
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166,410 shares of Common Stock,
receivable upon exercise of warrant at
any time prior to March 27, 2004.
6. Shared Voting Power N/A
7. Sole Dispositive Power Total of 583,076 shares of Common Stock,
as follows:
416,666 shares of Common Stock,
receivable upon conversion of
Preferred Stock at any time prior to
March 27, 2004; plus
166,410 shares of Common Stock,
receivable upon exercise of warrant at
any time prior to March 27, 2004.
8. Shared Dispositive Power N/A
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
Total of 583,076 shares of Common Stock, as follows:
416,666 shares of Common Stock, receivable upon conversion of Preferred
Stock at any time prior to March 27, 2004; plus
166,410 shares of Common Stock, receivable upon exercise of warrant at
any time prior to March 27, 2004.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
N/A
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11. Percent of Class Represented by Amount in Row (9)
16.4% of Common Stock
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12. Type of Reporting Person
IV
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ITEM 1(A). NAME OF ISSUER:
Environmental Tectonics Corporation
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
125 James Way
Southampton, Pennsylvania 18966-3877
ITEM 2(A). NAME OF PERSON FILING:
Sirrom Capital Corporation
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
500 Church Street, Suite 200
Nashville, Tennessee 37219
ITEM 2(C). CITIZENSHIP/STATE OF ORGANIZATION:
Tennessee
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.10 per share
ITEM 2(E). CUSIP NUMBER:
294092 10 1
ITEM 3. FILING PURSUANT TO RULE 13D-1(B):
This statement is filed pursuant to Rule 13d-1(b). The person
filing is an Investment Company registered under section 8 of
the Investment Company Act.
ITEM 4. OWNERSHIP:
(a) Amount Beneficially Owned: Total of 583,076 shares
of Common Stock, as follows:
416,666 shares of Common Stock, receivable upon
conversion of Preferred Stock at any time prior to
March 27, 2004; plus
166,410 shares of Common Stock, receivable upon
exercise of warrant at any time prior to March 27,
2004.
(b) Percent of Class: 16.4% of Common Stock
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
583,076 shares of Common Stock, only upon
conversion of Preferred Stock and exercise
of warrant
(ii) shared power to vote or to direct the vote:
N/A
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(iii) sole power to dispose or to direct the
disposition of: 583,076 shares of Common
Stock, only upon conversion of Preferred
Stock and exercise of warrant
(iv) shared power to dispose or to direct the
disposition of: N/A
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
N/A.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
N/A.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
N/A.
ITEM 10. CERTIFICATION:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such securities
and were not acquired in connection with or as a participant in any transaction
having such purposes or effect.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this Schedule 13G is true,
complete, and correct.
Dated: April 10, 1997 SIRROM CAPITAL CORPORATION
By: /s/ Carl W. Stratton
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Carl W. Stratton, Chief Financial Officer
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