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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. 4)*
INCOMNET, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
453365207
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(CUSIP Number)
John P. Casey, 10220 River Road, Suite 115, Potomac, MD 20854 (301) 983-5000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
June 15, 1998
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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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d- 7(b) 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
<TABLE>
<S> <C>
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CUSIP NO. 453365207 PAGE 2 OF 5 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JOHN P. CASEY - SS# ###-##-####
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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 ITEMS 2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
4,128,100
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 102,000 (children's trust; 1/3 voting trustee)
OWNED BY EACH
REPORTING
PERSON WITH
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9 SOLE DISPOSITIVE POWER
4,128,100
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10 SHARED DISPOSITIVE POWER
102,000 (children's trust; 1/3 voting trustee)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,230,100
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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)
21.15% (See Item 5)
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14 TYPE OF REPORTING PERSON
IN
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</TABLE>
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This Statement is the fourth Amendment to the Statement on Schedule 13D filed on
April 7, 1998 (as previously amended, the "Statement") with the Securities and
Exchange Commission by Mr. John P. Casey in connection with his beneficial
ownership of shares (the "Shares") of common stock of Incomnet, Inc. ("Incomnet"
or the "Issuer"). All capitalized terms used and not defined in this Amendment
No. 4 have the meanings given to them in the Statement.
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Item 5. Interest in Securities of the Issuer.
(a) Mr. Casey is the beneficial owner of 4,230,100 Shares. On
June 15, 1998 Incomnet announced in a Press Release (the
"June 15 Release") that the remaining Series A and Series B
preferred stock had been tendered for conversion to common
stock and that as a result of such conversion the number of
outstanding shares had increased to 20,000,000. Accordingly,
Shares owned by Mr. Casey constitute approximately 21.15% of
the outstanding common stock of Incomnet. The June 15 Release
also announced that Incomnet had insufficient authorized stock
to effect the conversion of all of the preferred stock tendered
for conversion. According to the June 15 Release, the amount
of such shortfall was 11,519,310 shares (the "Unissued
Common"). The Company further reported that it had filed
preliminary proxy materials calling for shareholder approval of
a 6-for-1 reverse stock split of Incomnet's outstanding common
stock and the Unissued Common. If Incomnet's shareholders
approve such reverse stock split and the currently Unissued
Common are indeed issued, Mr. Casey estimates that his
4,230,100 Shares will be converted into 705,016 shares of
common stock which will represent approximately 13.4% of the
then outstanding shares of common stock.
(b) Mr. Casey has sole power to vote, direct the vote of, dispose
of, and direct the disposition of 4,128,100 of the Shares
described in (a) above. Mr. Casey has shared power to vote,
direct the vote of, dispose of, and direct the disposition of,
102,000 of the Shares described in (a) above.
(c) On June 10, 1998, Mr. Casey purchased 3,055,100 Shares in open
market transactions at an aggregate purchase price of
$1,034,937.28, with individual prices ranging from $.1875 to
$.6875 per Share and an average per Share price of $.3273.
(d) Not applicable.
(e) Not applicable.
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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.
/s/ JOHN P. CASEY
Date: June 16, 1998 ------------------------------------------
John P. Casey
