UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D*
Under the Securities Exchange Act of 1934
(Amendment No. 3) *Final Amendment
Nugget Exploration, Inc.
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(Name of Issuer)
Common Stock, par value $0.01
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(Title of Class of Securities)
669903 30 4
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(CUSIP Number)
Ken Kurtz, 2133 East 9400 South, Suite 151, Sandy, Utah 84093
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(Name, address and telephone number of person authorized to receive
notices and communications)
November 15, 1999
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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 subject of this Schedule 13D, and is filing
this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-7
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 disclosure 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).
Potential persons who are respond to the collection of information
contained in this form are not required to respond unless the form displays a
currently valid OMB control number.
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PAGE 2 OF 7
SCHEDULE 13D
CUSIP No. 669903 30 4
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1) NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
First Avenue, Ltd. 87-0569161
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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
WC (Working Capital) & OO (Other)
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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
First Avenue, Ltd. is organized under the laws of the State of Utah as a
limited partnership.
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7) SOLE VOTING POWER
NUMBER OF 48,709 shares (1.2%)
SHARES
BENEFICIALLY -----------------------------------------------------
OWNED BY 8) SHARED VOTING POWER
EACH -0- shares
REPORTING
PERSON WITH ------------------------------------------------------
9) SOLE DISPOSITIVE POWER
48,709 shares (1.2%)
-----------------------------------------------------
10) SHARED DISPOSITIVE POWER
-0- shares
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,709 shares (Directly owned)
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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)
1.2%
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14) TYPE OF REPORTING PERSON
PN
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PAGE 3 OF 7
SCHEDULE 13D
CUSIP No. 669903 30 4
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1) NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Ken Kurtz ###-##-####
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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
OO (Other)
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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
Ken Kurtz is a US citizen.
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7) SOLE VOTING POWER
NUMBER OF -0- shares
SHARES
BENEFICIALLY ------------------------------------------------------
OWNED BY 8) SHARED VOTING POWER
EACH 57,709 shares (1.4%)
REPORTING
PERSON WITH ------------------------------------------------------
9) SOLE DISPOSITIVE POWER
-0- shares
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10) SHARED DISPOSITIVE POWER
57,709 shares (1.4%)
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
57,709 shares (Indirectly owned)
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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)
1.4%
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14) TYPE OF REPORTING PERSON
IN
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PAGE 4 OF 7
SCHEDULE 13D
CUSIP No. 669903 30 4
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1) NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Carrie Kurtz - ###-##-####
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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
OO (Other)
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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
Carrie Kurtz is a US citizen.
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7) SOLE VOTING POWER
NUMBER OF -0- shares
SHARES
BENEFICIALLY ------------------------------------------------------
OWNED BY 8) SHARED VOTING POWER
EACH 48,709 shares (1.2%)
REPORTING
PERSON WITH ------------------------------------------------------
9) SOLE DISPOSITIVE POWER
-0- shares
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10) SHARED DISPOSITIVE POWER
48,709 shares (1.2%)
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,709 shares (Indirectly owned)
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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)
1.2%
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14) TYPE OF REPORTING PERSON
IN
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PAGE 5 OF 7
Item 1. Security and Issuer
This statement relates to common stock, par value $0.01 per share, of Nugget
Exploration, Inc. ("Common Stock"). Nugget Exploration ("Nugget" or the
"Issuer") is a Nevada corporation with principal executive offices at 2051
Springville Road, Cherry Hill, New Jersey 08003.
Item 2. Identity and Background
(a) This statement is filed by First Avenue, Ltd., a limited partnership
organized under the laws of the State of Utah ("FAL"), Ken Kurtz, an
individual and general partner of First Avenue, Ltd. and Carrie Kurtz,
an individual and general partner of First Avenue, Ltd. Mr. Kurtz, Mrs.
Kurtz and FAL are sometimes collectively referred to herein as the
"Reporting Persons."
(b) The business address for the Reporting Persons is 2133 East 9400 South,
Suite 151, Sandy, Utah 84093.
(c) The principal business of First Avenue, Ltd. is investment management.
The principal occupation of Ken Kurtz is a private investor and
consultant. Mr. Kurtz is a general partner of FAL and also the
president of Park Street Investments, Inc., a Utah corporation wholly
owned by Mr. Kurtz. The principal occupation of Carrie Kurtz is a
homemaker. Mrs. Kurtz is also a general partner of FAL.
(d) During the last five years, the Reporting Persons have not been
convicted in a criminal proceeding (excluding traffic violations and
similar misdemeanors).
(e) During the last five years, the Reporting Persons was not party to a
civil proceeding that resulted in a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation
with respect to such laws.
(f) First Avenue, Ltd. is a limited partnership organized in the State of
Utah. Mr. and Mrs. Kurtz are U.S. citizens.
Item 3. Source and Amount of Funds or Other Consideration
On June 22, 1998, First Avenue, Ltd. received 15,100,000 shares of restricted
Common Stock of the Issuer in exchange for $15,100.00, pursuant to a
Consulting Agreement dated March 5, 1998. FAL received the shares as a
designee of Park Street Investments, Inc., a Utah corporation. On October 19,
1998 the Issuer effected a 1-for-310 reverse stock split on its issued and
outstanding common stock leaving FAL with 48,709 shares of restricted Common
Stock.
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PAGE 6 OF 7
On November 30, 1998 the Issuer executed a Settlement Agreement with Park
Street Investments, Inc. Also on November 30, 1998 the Issuer authorized
400,000 shares to be issued pursuant to a new Consulting Agreement dated
November 30, 1998 between the Issuer and Ken Kurtz, to be registered on Form
S-8 with the Securities and Exchange Commission ("SEC").
On January 15, 1999, Ken Kurtz transferred 100,000 shares to FAL as a capital
contribution. On January 17, 1999, FAL transferred 50,000 shares to a third
party. On February 16, 1999, FAL applied a total of approximately $12,800 of
working capital for 3,000 shares. On March 15, 1999, Mr. Kurtz sold 150,000
shares to a third party. On May 20, 1999, FAL applied a total of
approximately $1,800 of working capital for 2,500 shares. On June 11, 1999,
Mr. Kurtz transferred 41,000 shares to FAL as a capital contribution and 9,000
shares to a 401-k plan sponsored by Aspen Ridge Corporation, a Utah
corporation, wholly owned by Mr. Kurtz. On September 1, 1999, Mr. Kurtz
recovered 100,000 shares as a result of litigation arising out of the March
15, 1999 transaction.
On December 15, 1999, Ken Kurtz sold 291,000 shares in private transactions
with third parties.
Item 4. Purpose of Transaction
Please see Item 3, "Source and Amount of Funds or Other Consideration", above.
The Reporting Persons acquired the shares of Nugget Exploration, Inc. for
investment purposes. At this time, the Reporting Persons have no intention of
acquiring additional shares of the Issuer, although they reserve the right to
make additional purchases from time to time. Any decision to make such
additional purchases will depend, however, on various factors, including,
without limitation, the price of the common stock, stock market conditions and
the business prospects of Nugget Exploration, Inc. reported herein. The
Reporting Persons have no intention or arrangements or understandings to
effect any of the transactions listed in Item 4(a)-(j) of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) The aggregate number and percentage of class of securities identified
pursuant to Item 1 beneficially owned by each person named in Item 2 may
be found in rows 11 and 13 of the cover pages.
(b) The powers each person identified in the preceding paragraph has
relative to the shares discussed herein may be found in rows 7 through
10 of the cover page.
(c) There were no transactions in the class of securities reported on that
were effected during the last sixty days aside from those discussed
herein.
(d) No person aside from the reporting persons listed herein has the right
to receive or power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities.
(e) Not Applicable.
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PAGE 7 OF 7
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
The Reporting Persons do not have any contracts, arrangements, understandings
or relationships (legal or otherwise) with any person with respect to any
securities of the Issuer, finder's fees, joint ventures, loan or option
agreements, puts and calls, guarantees of profits, division of profits or
loss, or the giving or withholding of proxies.
Item 7. Material to Be Filed as Exhibits.
None.
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.
Dated: December 23, 1999
First Avenue, Ltd.
/s/ Ken Kurtz /s/ Carrie Kurtz
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Ken Kurtz, General Partner Carrie Kurtz, General Partner
on behalf of First Avenue, Ltd. on behalf of First Avenue, Ltd.
/s/ Ken Kurtz
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Park Street Investments, Inc.
General Partner, on behalf of First Avenue, Ltd.
/s/ Ken Kurtz
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Ken Kurtz, trustee,
of a 401-k plan sponsored by Aspen Ridge Corporation
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U. S.C. 1061).
