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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. 1)*
PACE HEALTH MANAGEMENT SYSTEMS
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(Name of Issuer)
COMMON STOCK & WARRANTS
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(Title of Class of Securities)
693723108
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(CUSIP Number)
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 20, 1995
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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 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 this statement [_]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
* 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 the
disclosures provided in a prior cover page.
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 ("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).
(Continued on following page(s))
Page 1 of 5 Pages
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SCHEDULE 13D
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693723108 Page 2 of 5 Pages
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Investment Advisers, Inc.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS
4
AF
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Minneapolis
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SOLE VOTING POWER (SEE ITEM 5.a)
7
NUMBER OF
715,501
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
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EACH SOLE DISPOSITIVE POWER
9
REPORTING
715,501
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
715,501
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
15.882%
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TYPE OF REPORTING PERSON*
14
IA
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*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH PAGES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION
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SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER.
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This statement on Schedule 13D relates to the Common Stock, par value $.01 (the
"Common Stock") of PACE HEALTH MANAGEMENT SYSTEMS, 1025 Ashworth Rd, Suite 420,
W. Des Moines, IA 50265.
ITEM 2. IDENTITY AND BACKGROUND.
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(a) Name: Investment Advisers Inc.
(b) Principal Business Address: 3700 First Bank Place, Minneapolis, MN 55440
(c) Place of Organization: Minneapolis
(d) Principal business: development, Investment Adviser
(d) Convictions in the last 5 years: None.
(e) Securities law violations in the last 5 years: None.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
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Affiliate--AF Investment Advisers, Inc. purchased 60,000 Common on 4/27/95 @
5.028/Sh for $301,680. Purchased 30,000 Common on 6/20/95 @ 5.00/Sh for
$150,000. No funds were borrowed from any source to purchase these shares.
ITEM 4. PURPOSE OF TRANSACTION.
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The purpose of IAI's acquisition of the shares of the Issuer is for investment
considerations. IAI has no present intention of exerting control over the
business or assets of the Issuer.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
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(a) IAI beneficially owns 671,861 shares of common stock representing 15.99% of
the issuer.
IAI beneficially owns 43,640 warrants convertible into 43,640 shares of
common stock representing 14.41% of the total warrants outstanding of
302,785.
IAI beneficially owns 715,501 shares (671,861 common plus 43,640)
representing 15.882% of total shares outstanding on a fully diluted basis.
(b) Number of shares with sole voting and disposition power: 715,501 shares of
Common Stock, $.01 par value.
(c) Transactions affected in last 60 days: Two (See Description Item #3)
(d) N/A
(e) N/A
Page 3 of 5 Pages
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ITEMS 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
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TO SECURITIES OF THE ISSUER.
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N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
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None.
Page 4 of 5 Pages
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true and complete.
Dated: June 28, 1995
Investment Advisers, Inc.
/s/ Kelly Thomas Coughlin
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Kelly Thomas Coughlin
Vice President,
Director of Compliance
Page 5 of 5 Pages
