CUSIP No. 22406 P108 Page 1 of 7 Pages
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No.1)
Coyote Network Systems Inc.
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(Name of Issuer)
Common Stock, $1.00 par value
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(Title of Class of Securities)
22406 P108
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(CUSIP Number)
Richard L. Haydon
Strategic Restructuring Partnership L.P.
1114 Ave. of the Americas, 38th Floor
New York, New York 10036
Tel. (212) 536-9715
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 12, 1998
(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 [ ].
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CUSIP No. 22406 P108 Page 2 of 7 Pages
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1) Name of Reporting Person Richard L. Haydon
S.S. or I.R.S. Identification
No. of Above Person
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2) Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [ ]
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3) SEC Use Only
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4) Source of Funds WC
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5) Check if Disclosure of
Legal Proceedings is Not Applicable
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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Number of 7) Sole Voting 1,517,230 shares of
Shares Beneficially Power Common Stock, $1.00
Owned by par value ("Common
Reporting Person Stock") (including
shares issuable upon
exercise of warrants)
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8) Shared Voting
Power -0-
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9) Sole Disposi- 1,517,230 shares of
tive Power Common Stock (including
shares issuable upon
exercise of warrants)
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10) Shared Dis-
positive Power -0-
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11) Aggregate Amount Beneficially 1,517,230 shares of
Owned by Each Reporting Person Common Stock (including
shares issuable upon
exercise of warrants)
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12) Check if the Aggregate
Amount in Row (11)
Excludes Certain Shares
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13) Percent of Class
Represented by 8.76%
Amount in Row (11)
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14) Type of Reporting
Person IN
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CUSIP No. 22406 P108 Page 3 of 7 Pages
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1) Name of Reporting Person Strategic
S.S. or I.R.S. Identification Restructuring
No. of Above Person Partnership L.P.
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2) Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [ ]
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3) SEC Use Only
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4) Source of Funds WC
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5) Check if Disclosure of
Legal Proceedings is Not Applicable
Required Pursuant to
Items 2(d) or 2(e)
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6) Citizenship or Place
of Organization Delaware
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Number of 7) Sole Voting 789,380 shares of
Shares Beneficially Power Common Stock (including
shares issuable upon
exercise of warrants)
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8) Shared Voting
Power -0-
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9) Sole Disposi- 789,380 shares of
tive Power Common Stock (including
shares issuable upon
exercise of warrants)
--------------------------------------------
10) Shared Dis-
positive Power -0-
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11) Aggregate Amount Beneficially 789,380 shares of
Owned by Each Reporting Person Common Stock (including
shares issuable upon
exercise of warrants)
- --------------------------------------------------------------------------------
12) Check if the Aggregate
Amount in Row (11)
Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class
Represented by 4.65%
Amount in Row (11)
- --------------------------------------------------------------------------------
14) Type of Reporting
Person PN
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CUSIP No. 22406 P108 Page 4 of 7 Pages
Amendment No. 1 to Schedule 13D
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Reference is hereby made to the statement on Schedule 13D (the
"Schedule 13D") previously filed by the reporting persons with the Securities
and Exchange Commission with respect to The Diana Corporation (prior name of the
Issuer). Terms defined in the Schedule 13D are used herein as so defined.
The Schedule 13D is hereby amended as follows:
Item 5. Interest in Securities of the Issuer.
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Item 5 is hereby amended and restated in its entirety to read as
follows:
(a) Based on a total of 16,618,492 shares of Common Stock outstanding
as of February 18, 2000, and giving effect to the exercise of all
presently-exercisable Warrants, Mr. Haydon owns 1,517,230 shares of Common
Stock, or approximately 8.76% of the Common Stock outstanding. SRP owns 789,380
shares of Common Stock, or 4.65% of the Common Stock outstanding.
The securities reported as beneficially owned by Mr. Haydon include
the securities owned by SRP. The balance is held in various managed
discretionary accounts with respect to which Mr. Haydon, or an entity controlled
by Mr. Haydon, has sole voting and investment power over the securities of the
Issuer held by such accounts.
(b) Mr. Haydon has sole power to vote or direct the voting of and to
dispose or to direct the disposition of the shares of Common Stock referred to
in paragraph (a) above.
(c) Except as described in this statement, none of the Reporting
Persons has effected any transaction in the Common Stock in the past 60 days. On
February 15, 2000 an aggregate 2,000 shares of Common Stock were purchased for
the benefit of two managed discretionary accounts managed by Mr. Haydon at a per
share purchase price of $6.97.
(d) No other person has the power to direct the receipt of dividends
on, or the proceeds from sales of, the shares of Common Stock owned by the
Reporting Persons.
(e) Not applicable.
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CUSIP No. 22406 P108 Page 5 of 7 Pages
Item 6. Contracts, Arrangements, Understandings
or Relationships with Respect to
Securities of the Issuer.
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Item 6 is hereby amended by adding the following thereto:
Under the terms of the warrants to purchase an aggregate 30,000 shares
of Common Stock acquired by the Reporting Persons in connection with a demand
loan facility provided by the Reporting Persons on November 1, 1999, the
Reporting Persons have certain rights with respect to the registration under the
Securities Act of 1933, as amended (the "Securities Act"), of those shares of
Common Stock underlying the Warrants. The form of Warrant is incorporated herein
by reference to Exhibit 4.03 to the Issuer's Quarterly Report on Form 10-Q for
the quarterly period ended September 30, 1999, filed with the Securities and
Exchange Commission on November 15, 1999.
Item 7. Material to be Filed as Exhibits.
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Exhibit A - Group Agreement
Exhibit B - Form of Common Stock Purchase Warrant Certificate
(incorporated by reference to Exhibit 4.03 to the Issuer's Quarterly Report on
Form 10-Q for the quarterly period ended September 30, 1999, filed with the
Securities and Exchange Commission on November 15, 1999).
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CUSIP No. 22406 P108 Page 6 of 7 Pages
Signature
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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/Richard L. Haydon
Richard L. Haydon
STRATEGIC RESTRUCTURING PARTNERSHIP L.P.
By: Strategic Restructuring Advisers, L.P.,
General Partner
By /s/Richard L. Haydon
General Partner
Date: March 20, 2000
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CUSIP No. 22406 P108 Page 7 of 7 Pages
EXHIBIT A
AGREEMENT
OF
RICHARD L. HAYDON
AND
STRATEGIC RESTRUCTURING PARTNERSHIP L.P.
PURSUANT TO RULE 13D-1(F)
_________________________
The undersigned hereby agree that the Statement on Schedule 13D to
which this Agreement is annexed as Exhibit A is filed on behalf of each of them
in accordance with the provisions of Rule 13d-1(f) under the Securities Exchange
Act of 1934, as amended.
/s/ Richard L. Haydon
Richard L. Haydon
STRATEGIC RESTRUCTURING PARTNERSHIP L.P.
By: Strategic Restructuring Advisers, L.P.,
General Partner
By /s/Richard L. Haydon
General Partner
Date: March 20, 2000
