UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)
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Nugget Exploration, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
669903 30 4
(CUSIP Number)
Mark E. Lehman
Lehman, Jensen & Donahue, L.C.
8 East Broadway, Suite 620
Salt Lake City, Utah 84111
(801) 532-7858
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
August 3, 1999
(Date of Event which Requires Filing of This Statement)
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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 |_|.
Check the following box if a fee is being paid with the statement
|_|.
Note: Six copies of this statement, including all exhibits, should
be filed with the Commission. See Rule 13d-1(a) for other parties
to whom copies are to be sent.
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).
<PAGE>
CUSIP NO.669903 304 13D Page 2 of
7 Pages
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1 NAME OF REPORTING PERSON and S.S. OR I.R.S. IDENTIFICATION
NO.
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*
Working Capital and 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
Utah
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NUMBER OF 7 SOLE VOTING POWER
SHARES 145,209 shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0- shares
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 145,209 shares
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0- shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
145,209 shares
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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)
20.8%
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14 TYPE OF REPORTING PERSON*
PN Partnership
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<PAGE>
CUSIP NO. 669903 304 13D Page 3 of
7 Pages
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1 NAME OF REPORTING PERSON and S.S. OR I.R.S. IDENTIFICATION
NO.
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*
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
U.S. Citizen
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NUMBER OF 7 SOLE VOTING POWER
SHARES 200,000 shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 145,209 shares
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 200,000 shares
PERSON 10 SHARED DISPOSITIVE POWER
WITH 145,209 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
354,209 shares
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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)
50.8%
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14 TYPE OF REPORTING PERSON*
IN Individual
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<PAGE>
CUSIP NO. 669903 304 13D Page 4 of
7 Pages
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1 NAME OF REPORTING PERSON and S.S. OR I.R.S. IDENTIFICATION
NO.
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*
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
U.S. Citizen
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0- shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 145,209 shares
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0- shares
PERSON 10 SHARED DISPOSITIVE POWER
WITH 145,209 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
145,209 shares
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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)
20.8%
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14 TYPE OF REPORTING PERSON*
IN Individual
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<PAGE>
CUSIP NO. 669903 304 13D Page 5 of
7 Pages
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Item 1(a). Name of Issuer
Nugget Exploration, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
815 South Durbin Street, Casper, Wyoming 82601
Item 2. Identity and Background
(a) This statement is being filed by (1) First Avenue,
Ltd. ("FAL"), a Utah limited partnership, (2) Ken Kurtz
("Mr. Kurtz"), a U.S. citizen and shareholder, and in
his capacity as (a) general and limited partner of FAL
and (3) Carrie Kurtz ("Mrs. Kurtz"), a U.S. citizen in
her capacity as general and limited partner of FAL. Mr.
Kurtz, Mrs. Kurtz and FAL are sometimes collectively
referred to herein as the "Reporting Persons."
(b)-(c) FAL is a Utah Limited Partnership consisting of
three partners. Mr. Kurtz is a 1% general partner and
44% limited partner of FAL. Carrie Kurtz is the wife of
Ken Kurtz and is 1% general partner and 44% limited
partner of FAL. Park Street Investments, Inc., a Utah
corporation wholly owned by Mr. Kurtz is a 10% limited
partner of FAL.
The principal business of FAL is investment management.
The Principal occupation of Ken Kurtz is a private
investor and consultant. The business address of the
reporting persons is 2133 East 9400 South, Suite 151,
Sandy, Utah 84093. Mr. Kurtz and Mrs. Kurtz may be
deemed to be the beneficial owners of the Common Shares
acquired for the account of FAL.
(d) Conviction of a Criminal Proceeding (excluding
traffic violations or similar misdemeanors) during the
last five years: No
(e) Party in a Civil Proceeding during the last five
years and as a result was or is subject to 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: No
Item 3: Source and Amount of Funds or Other
Consideration
On January 15, 1999, Ken Kurtz transferred 100,000
shares to FAL as a capital contribution. On January 17,
1999, FAL transferred 98,709 shares to a third party.
On February 16, 1999, FAL expended an aggregate 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 expended an
aggregate of approximately $1,800 of working capital for
2,500 shares. On June 11, 1999, Ken 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, 100% owned by Mr.
Kurtz. On September 1, 1999, Ken Kurtz recovered
100,000 shares as a result of litigation arising out of
the March 15, 1999 transaction.
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CUSIP NO. 669903 304 13D Page 6 of
7 Pages
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Item 4. Purpose of Transaction
The reporting person acquired the shares of Nugget
Exploration, Inc. for investment purposes. At this
time, it has no intention of acquiring additional shares
of Nugget Exploration, Inc. reported herein, although it
reserves 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 person has no present 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)-(b) On the date of this statement:(based on 697,117
shares of common stock outstanding)
(i) FAL is deemed to have beneficial ownership for purposes of
Section 13(d) of the Securities and Exchange Act of 1934
("Beneficial Ownership") of 145,209 shares. Such shares represent
20.8% of the total issued and outstanding Common shares.
(ii) Mr. Kurtz is deemed to have beneficial ownership for purposes
of Section 13(d) of the Securities and Exchange Act of 1934
("Beneficial Ownership") of 354,209 Common Shares by virtue of his
direct ownership of 200,000 Common shares, his ownership interest
in FAL and as Trustee of the 401-k plan sponsored by Aspen Ridge
Corporation. Such shares represent 50.8% of the issued and
outstanding Common Shares. Of these shares Mr. Kurtz is also
deemed to have sole voting and dispositive power over 209,000
shares and shared voting and dispositive power over 145,209 shares
by virtue of his 1% general partnership interest in FAL.
(iii) Mrs. Kurtz is deemed to have Beneficial Ownership
for purpose of Section 13(d) of the Securities and
Exchange Act of 1934 of 145,209 Common shares by
virtue of her ownership interest in FAL. Such
shares represent 20.8% of the total issued and
outstanding Common shares. Mrs. Kurtz is also
deemed to have shared voting and dispositive power
over these shares by virtue of her 1% general
partnership interest in FAL.
(c) Not applicable
(d) Not applicable
(e) Not applicable
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
The reporting person does 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 or calls,
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CUSIP NO. 669903 304 13D Page 7 of
7 Pages
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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.
October 5, 1999
First Avenue, Ltd.
By: /s/ Ken Kurtz
General Partner
By: /s/ Carrie Kurtz
General Partner
By: /s/ Ken Kurtz
