SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)
HERLEY INDUSTRIES, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
427398
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(CUSIP Number)
Harvey Houtkin, c/o All-Tech Investment Group, Inc.
160 Summit Avenue, Montvale, New Jersey 07645//(201) 782-0200
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 19, 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 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.
(Continued on following pages)
- ----------
(1) 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 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. 427398 SCHEDULE 13D/A
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
All-Tech Investment Group, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC/OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY --------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 19,995
PERSON --------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
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10 SHARED DISPOSITIVE POWER
19,995
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- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
19,995
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 427398 SCHEDULE 13D/A
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Rushmore Financial Services, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC/OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY --------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 19,995
PERSON --------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
19,995
--------------------------------------------------------
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
19,995
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 427398 SCHEDULE 13D/A
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Harvey Houtkin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF WC OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 159,876
BENEFICIALLY --------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 23,937
PERSON --------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
159,876
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10 SHARED DISPOSITIVE POWER
23,937
--------------------------------------------------------
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,813
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer
Common Stock
Herley Industries, Inc.
10 Industry Drive
Lancaster, PA17603-4092
Item 2. Identity and Background
(a) All-Tech Investment Group, Inc.
(b) 160 Summit Avenue Montvale, New Jersey 07645
(c) Registered broker/dealer, 160 Summit Avenue, Montvale, NJ 07645
(d) No
(e) No
(f) Delaware
90.5% of the shares of All-Tech Investment Group, Inc. ("All-Tech"), a
registered broker/dealer which makes a market in the issuer's stock, are
owned by Rushmore Financial Services, Inc. ("Rushmore"). Information with
respect to Rushmore is as follows:
(a) Rushmore Financial Services, Inc.
(b) 160 Summit Avenue Montvale, New Jersey 07645
(c) Holding company of All-Tech Investment Group, Inc. and Domestic
Securities, Inc.
(d) No
(e) No
(f) New Jersey
Information with respect to Mr. Houtkin is set forth below.
(a) Harvey Houtkin
(b) c/o All-Tech Investment Group, Inc. 160 Summit Avenue Montvale, New
Jersey 07645
(c) Chairman of the Board, CEO and Secretary, All-Tech Investment Group,
Inc.; Chairman of the Board and President, Domestic Securities, Inc.
All-Tech and Domestic are registered broker-dealers. Chairman of the
Board and President, Rushmore Financial Services, Inc. All of such
companies are located at 160 Summit Avenue, Montvale, NJ 07645
(d) No
(e) In 1990 a consent order was issued by the New Jersey Bureau of
Securities pursuant to a negotiated amicable resolution of the
application for registration of Domestic Securities, Inc.
("Domestic"), a registered broker-dealer, in the State of New
Jersey. The order provided that neither Domestic nor Mr. Houtkin
would reapply for
<PAGE>
registration for three years and the New Jersey Bureau of Securities
would be reimbursed $50,000 in respect of its costs of investigation
of the application. Mr. Houtkin and Domestic are now registered in
the State of New Jersey.
(f) United States
Mr. Shefts is no longer part of the group making this joint filing.
Item 3. Source and Amount of Funds or Other Consideration.
Amounts set forth below are for shares owned directly by a reporting
person.
WC/OO All-Tech Investment Group, Inc., a registered broker/dealer which
makes a market in the issuer's stock, owned 19,955 shares (0.4%) as of
April 19, 1999. All of such shares were purchased on margin. All of the
stock of All-Tech is owned by Rushmore.
WC/OO Rushmore Financial Services, Inc. owned 19,955 (0.4%) shares
indirectly, through its ownership of All- Tech, as of April 19, 1999.
Rushmore is owned 50% by Mr. Shefts and 50% by Mr. Houtkin.
PF/OO All 159,876 of the shares directly beneficially owned by Mr. Houtkin
individually were purchased for cash. Mr. Houtkin owns 133 shares jointly
with his mother, Esther Houtkin, which were purchased for cash. Mr.
Houtkin's wife Sherry Houtkin owns 22,515 shares (0.4%), which were
purchased for cash. Mr. Houtkin's adult son Michael Houtkin is the
beneficial owner of 3,333 shares (0.1%) which were purchased for cash; his
adult son Brad Houtkin is the beneficial owner of 3,333 shares (0.1%)
which were purchased on margin; Mr. Houtkin's adult son Stuart is the
beneficial owner of 3,849 shares (0.1%) which were purchased for cash. Mr.
Houtkin disclaims beneficial ownership of all of the shares owned by his
wife, and his sons Michael and Brad.
Item 4. Purpose of Transaction
The shares were purchased for investment purposes only. From time to time
All-Tech purchases shares as inventory for its market-making activity.
Except for All-Tech's continuing to make a market in the issuer's stock,
there are no current plans or proposals to acquire or dispose of the
issuer's securities or to seek any change in the issuer's business or
corporate structure.
Item 5. Interest in Securities of the Issuer
(a) The aggregate number of the issuer's common shares beneficially
owned at the close of business on April 19, 1999, by all reporting
persons submitting this joint filing was 183,680 (excluding shares
as to which beneficial ownership is disclaimed), equaling
approximately 3.5% of the common stock
<PAGE>
outstanding on such date.
All shares held in corporate name as set forth below are subject to shared
voting and dispositive power; 159,876 of the shares owned by Mr. Houtkin
are subject to sole voting and dispositive power; 23,804 are subject to
shared voting and dispositive power.
(b) Shares beneficially owned by each reporting person:
All-Tech Investment Group, Inc. TOTAL: 19,955
PERCENTAGE: 0.4%
Rushmore Financial Services, Inc.
(excluding shares TOTAL: -0-
of All-Tech) PERCENTAGE: 0.0%
Harvey Houtkin, individually 159,876
Harvey Houtkin jointly with Esther Houtkin 133
Stuart Houtkin 3,849
Harvey Houtkin as a control person of
Rushmore (excluding shares owned
by All-Tech) -0-
Harvey Houtkin as a control person of
All-Tech 19,955
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TOTAL: 183,813
PERCENTAGE: 3.5%
Mr. Houtkin disclaims beneficial ownership of 3,333 shares (0.1%)
owned by his adult son Brad Houtkin; 3,333 shares (0.1%) owned by
his adult son Michael Houtkin, and 18,666 shares (0.4%) owned by his
wife Sherry Houtkin,
(c) All-Tech, a market-maker in the issuer's stock, effects transactions
in the issuer's stock continually.
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
The parties filing this Report on Form 13D have orally agreed to make this
joint filing.
Item 7. Material to be Filed as Exhibits
None
Signature
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.
<PAGE>
April 25, 1999 ALL-TECH INVESTMENT GROUP, INC.
By s/ Harvey Houtkin
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Harvey Houtkin, Chairman
RUSHMORE FINANCIAL SERVICES, INC.
By s/ Harvey Houtkin
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Harvey Houtkin, Chairman
s/ Harvey Houtkin
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Harvey Houtkin
