SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Chantal Pharmaceutical Corporation
----------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
--------------------------------------
(Title of Class of Securities)
0001593001
----------
(CUSIP Number)
Peter Ting
3319 Greenmeadow Drive
Danville, California 94506
Telephone: (510) 736-4807
-------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
Jeffrey W. Tindell, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
919 Third Avenue
New York, New York 10022
Telephone: (212) 735-3380
June 4, 1997
-------------------------------------------------------
(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: [_]
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Robert J. Binder
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 120,400
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 120,400
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
120,400
-----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
-----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
-----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Brad Bulloch
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 37,500
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 37,500
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
37,500
-----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
-----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
-----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Doran Capital Management, L.P.
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 127,500
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 127,500
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
127,500
-----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
-----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
-----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Douglas S. Friedenberg
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 40,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 40,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
40,000
-----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
-----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IA
-----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
William T. Gibson
Kathleen P. Gibson
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 40,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 40,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
40,000
-----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
-----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
-----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
David James
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 31,100
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 31,100
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
31,100
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Paul R. Locigno
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 14,500
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 14,500
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
14,500
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Richard J. Love
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 100,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 100,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
100,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IA
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Rick Mahonski
Diane Mahonski
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 29,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 29,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
29,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Patrick J. McInnis
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 28,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 28,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
28,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
MH & Associates Securities Management Corporation
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 128,200
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 128,200
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
128,200
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IA
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Howard Miller
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 40,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 40,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
40,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
EC Morgan
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 100,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 100,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
100,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Francis Phalen
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
[x]
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 105,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 105,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
105,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Peter Ting
Margerette Ting
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 225,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 225,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
225,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
13D
CUSIP No. 0001593001
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Donald W. Wright
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
----------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------
4. SOURCE OF FUNDS
PF
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
( )
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 100,000
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING -----------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 100,000
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
100,000
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
( )
----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
----------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
Item 1. Security and Issuer.
The class of equity securities to which this statement
relates is the Common Stock, par value $.01 per share (the
"Common Stock"), of Chantal Pharmaceutical Corporation, a
Delaware corporation (the "Company"), which has its principal
executive offices at 12121 Wilshire Boulevard, Suite 1120, Los
Angeles, California 90025.
Item 2. Identity and Background.
This statement is filed by the following persons: Robert J.
Binder, Brad Bulloch, Doran Capital Management, L.P. ("Doran"),
Douglas S. Friedenberg, Kathleen and William Gibson, David James,
Paul R. Locigno, Richard J. Love, Rick and Diane Mahonski,
Patrick J. McInnis, MH & Associates Securities Management
Corporation (MH&A"), Howard Miller, E.C. Morgan, Francis T.
Phalen, Peter and Margarette Ting and Donald W. Wright (sometimes
collectively referred to as the "Reporting Persons").
The persons making this filing are doing so because of the
possibility that they may be deemed to constitute a "group" for
purposes of Section 13(d)(3) of the Securities Exchange Act of
1934, as amended (the "Act"). The filing of this Schedule 13D
does not constitute an admission by any of the persons making
this filing that such persons are a group, and such persons deny
that they should be deemed to be such a group.
The names, residence or business addresses, and present
principal occupation or employment, and the name, principal
business and address of any corporation or other organization in
which each such employment is conducted, of the persons filing
this statement is set forth in Appendix A attached hereto and
incorporated by reference. Except as set forth in Appendix A,
all Reporting Persons are citizens of the United States.
Except as set forth below, during the last five years, none
of the Reporting Persons filing this statement has been (i)
convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors) or (ii) a party to a civil proceeding of
a judicial or administrative body of competent jurisdiction and
as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or
prohibiting activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
Francis T. Phalen was the subject of an administrative
proceeding before the Securities and Exchange Commission (the
"Commission") entitled In the Matter of Aura Systems Inc., Zvi
Kurtzman, Francis T. Phalen, CPA, Joseph Bevacqua, CPA,
Respondents (October 2, 1996; File No. 3-9138). Pursuant to an
offer of settlement Mr. Phalen, without admitting or denying the
findings set forth therein, consented to a Commission finding
that he willfully violated Section 17(a) of the Securities Act of
1933, as amended, and Section 10(b) and 13(b)(5) of the Act and
Rules 10b-5, 13b2-1 and 13b2-2 thereunder and willfully aided and
abetted and caused Aura Systems' violations of Sections 13(a),
13(b)(2)(A) and 13(b)(2)(B) of the Act and Rules 12b-20, 13a-1
and 13a-13 thereunder. The related order of the Commission
provided that Mr. Phalen was to cease and desist from committing
or causing any violation and future violation of certain
specified securities laws and rules and further restricted Mr.
Phalen from practicing as an accountant for a period of three
years, at which time he will be able to apply to the Commission
for reinstatement upon certain undertakings to the Commission.
Information with respect to each person filing this
statement is given solely by the respective filing person, and no
filing person has responsibility for the accuracy or completeness
of information supplied by another filing person.
Item 3. Source and Amount of Funds or Other Consideration.
The aggregate purchase price for the shares of Common Stock
acquired by each Reporting Person and by all such persons in the
aggregate, is set forth in the following table:
Aggregate Purchase
Purchaser Price
--------- ------------------
Binder $ 553,186
Bulloch $ 164,775
Doran $ 547,000
Friedenberg $ 196,000
Gibson $ 177,312
James $ 156,182
Locigno $ 18,670
Love $ 504,951
Mahonski $ 101,500
McInnis $ 119,560
MH&A $ 892,131
Miller $ 90,000
Morgan $ 475,000
Phalen $ 67,030
Ting $1,058,275
Wright $ 146,452
----------
TOTAL $5,268,024
==========
In all cases, except as otherwise disclosed herein, the
source of funds utilized for the purchase of shares came from
personal funds. In the case of Doran, the shares are subject to
a standard margin account maintained with Furman Selz LLC.
Item 4. Purpose of Transaction.
The Reporting Persons acquired the shares of Common Stock
which they respectively own (See Item 5 below) for the purpose of
making a significant investment in the Company.
The Reporting Persons share a common concern over the
deteriorating performance of the Company and, in turn, over the
declining price of the shares of the Company's Common Stock. The
Reporting Persons have discussed among themselves or with
representatives of the Reporting Persons their concerns and
suggestions about taking constructive actions in an effort to
seek to correct these circumstances.
Certain of the Reporting Persons have a more intimate
knowledge of the Company and its management. Mr. Locigno's firm,
Rollins International, Limited was a consultant to the Company
from April 1996 until September 1996 in the areas of marketing
and public relations. Mr. Phalen was engaged under contract to
the Company as a consultant for the ten months from September
1995 until June 1996. He joined the Company as its Managing
Director - International Operations on August 26, 1996 until
April 2, 1997. Mr. Wright served as a consultant to the Company
for the calendar year 1994 and subsequently from time to time,
upon the request of the Company until August, 1996.
The Company filed preliminary proxy materials with the
Securities and Exchange Commission in May 1997 for the purpose,
among other things, of electing directors. The scheduling of a
Special Meeting of Stockholders for this purpose by the Company
was the result of a court order, although the court had ordered
the holding of an "annual" meeting. The Reporting Persons
understand that the Company has not held an annual meeting of
stockholders since 1992. The Reporting Persons or their
representatives reviewed the Company's preliminary proxy
materials and believe that a change in the Board of Directors and
senior management of the Company is necessary to pursue their
objective of creating value for stockholders generally.
Certain of the Reporting Persons or their representatives
have contacted counsel for the Company in an effort to solicit
the Company's support for a change in the Board of Directors.
The Reporting Persons have been informally informed that the
Company would give appropriate consideration to a change in the
Board of Directors and in senior management if the new nominees
were suitable and were believed to be acting in the best
interests of the shareholders of the Company.
It is the intention of the Reporting Persons that Ms.
Georgette Mosbacher will agree to serve as a director-nominee and
to become the chief executive officer of the Company following
the installation of a new Board of Directors. Ms. Mosbacher is
presently the Chairman and Chief Executive Officer of Mosbacher
Enterprises, Inc., an international entrepreneurial and
management consulting business based in New York City. Certain
of the Reporting Persons or their representatives have had
preliminary discussions with a representative of Ms. Mosbacher,
as well as with counsel for the Company, about this possibility.
No agreements have been reached and no assurance can be given
that an agreement along these lines will be reached with Ms.
Mosbacher.
The Reporting Persons are discussing and considering
appropriate nominees to suggest as prospective Board members and
anticipate discussions with the Company and its representatives
shortly. It is likely that nominees suggested by the Reporting
Persons will include individuals who are not Reporting Persons.
While the Reporting Persons believe it would be in the best
interests of the stockholders of the Company for any change to be
agreed upon and completed in conjunction with the upcoming
Special Meeting, there can be no assurance that such change can
be accomplished within that timeframe. In the event that the
Company is unwilling to assist the Reporting Persons in their
endeavor or time will not permit the objectives of the Reporting
Persons to be accomplished quickly, the Reporting Persons intend
to continue to thereafter seek a change in the Board of
Directors, including through the possible solicitation of written
consents to remove and replace some or all of the directors of
the Company.
The Reporting Persons have had discussions with or are aware
of other shareholders of the Company who have expressed their
support for the Reporting Persons and their objectives of
increasing shareholder value, but who prefer not to join with the
Reporting Persons in making this filing.
Depending on market conditions and other factors, the
Reporting Persons presently intend to continue to hold their
shares of Common Stock as an investment. Each of the Reporting
Persons reserves the right to purchase or otherwise acquire
additional shares of Common Stock and, further, each reserves the
right and ability to sell or otherwise dispose of shares of
Common Stock at any time.
Other than as described above, none of the Reporting Persons
has any present plans or proposals which relate to or would
result in: (i) the acquisition by any person of additional
securities of the Company, or the disposition of securities of
the Company; (ii) an extraordinary corporate transaction, such as
a merger, reorganization or liquidation, involving the Company or
any of its subsidiaries; (iii) a sale or transfer of a material
amount of assets of the Company or any of its subsidiaries; (iv)
any change in the present Board of Directors or management of the
Company, including any plans or proposals to change the number or
term of directors or to fill any existing vacancies on the Board;
(v) any material change in the present capitalization or dividend
policy of the Company; (vi) any other material change in the
Company's business or corporate structure; (vii) changes in the
Company's charter, by-laws, or other instruments corresponding
thereto or other actions which may impede the acquisition of
control of the Company by any person; (viii) causing a class of
securities of the Company to be delisted from a national
securities exchange or to cease to be authorized to be quoted in
an interdealer quotation system of a registered national
securities association; (ix) a class of equity securities of the
Company becoming eligible for termination of registration
pursuant to Section 12(g)(4) of the Act; or (x) any action
similar to any of those enumerated above. Item 4 disclosure
provisions regarding any plans or proposals to make any changes
in a company's investment policy for which a vote is required by
Section 13 of the Investment Company Act of 1940 are
inapplicable.
Item 5. Interest in Securities of the Issuer.
Set forth in the table below is the number of shares of
Common Stock beneficially owned by each person making this filing
and by all such persons in the aggregate, together with the
percentage of the shares of Common Stock which are beneficially
owned by each such person and all such persons in the aggregate:
Number of Shares of Percentage of
Common Stock Common Stock
Beneficially Beneficially
Person Owned Owned*
------ ------------------ -------------
Binder 120,400 0.67%
Bulloch 37,500 0.21%
Doran 127,500 0.70%
Friedenberg 40,000 0.22%
Gibson 40,000 0.22%
James 31,100 0.17%
Locigno 14,500 0.08%
Love 100,000 0.55%
Mahonski 29,000 0.16%
McInnis 28,000 0.15%
MH&A 128,200 0.70%
Miller 40,000 0.22%
Morgan 100,000 0.55%
Phalen 105,000 0.58%
Ting 225,000 1.24%
Wright 100,000 0.55%
--------- ----
Total 1,226,200 6.96%
========= =====
----------------
* The number of shares of Common Stock deemed to be
outstanding as of May 16, 1997 is 18,190,516, according to
the preliminary proxy statement filed by the Company with
the Securities and Exchange Commission in May 1997. In
addition, the same document reports that as of May 16, 1997
there were outstanding 500,000 shares of Series C Stock (as
defined herein). All shares of Common Stock and Series C
Stock represent voting securities.
Except for 40,000, 80,000 and 100,000 shares of Common
Stock purchased by Messrs. Friedenberg, Phalen and Morgan,
respectively, in a private placement directly from the Company in
1994 or as otherwise set forth herein, all purchases of Common
Stock were made in open-market brokerage transactions. Appendix
B sets forth for each person making this filing and for all such
persons in the aggregate the number of shares of Common Stock
purchased and sold in the past 60 days, the dates of such
transactions and the purchase or sale price per share.
Except as set forth below, each person making this
filing has the sole power to vote and dispose of the shares of
Common Stock owned of record by such person. No other person
making this filing shares with any other person the power to
direct the voting or disposition of the shares of Common Stock
deemed to be owned beneficially by such person.
With respect to the shares reported by Dr. Binder,
3,000 are owned personally, 7,400 are owned in a custodian
account for his son and 110,000 shares are owned by a pension
plan account for his benefit. Dr. Binder has sole voting and
dispositive power with respect to all of such holdings. The
shares held by Mr. Bulloch are held in his individual retirement
account. With respect to the shares reported by Mr. Locigno,
10,000 shares are held in an individual retirement account.
With respect to the shares reported by Mr. and Mrs.
Gibson, 15,000 shares are held jointly (shared voting and
dispositive power), 20,000 are held in an individual retirement
account for Mr. Gibson (sole voting and dispositive power) and
5,000 shares are held by Mr. Gibson (sole voting and dispositive
power). The 5,000 shares held by Mr. Gibson include 1,667 shares
of the Company's Series C Voting Convertible Preferred Stock, par
value $.10 per share ("Series C Stock").
With respect to the shares of Common Stock reported by
Mr. Friedenberg, such holding includes 13,333 shares of Series C
Stock. All shares of Common Stock and Series C Stock reported by
Mr. Friedenberg are held in private investment accounts over
which Mr. Friedenberg has the power to vote and dispose of such
shares.
With respect to the shares of Common Stock reported by
Mr. Love, all of such shares are held by Mr. Love under
investment advisory contracts with two clients pursuant to which
Mr. Love has the power to vote and dispose of such shares. With
respect to the shares of Common Stock reported by Mr. Morgan,
such holding includes 33,333 shares of Series C Stock. All
shares of Common Stock and Series C Stock reported by Mr. Morgan
are held in a hedge fund limited partnership pursuant to which
Mr. Morgan has the power to vote and dispose of such shares.
With respect to the shares reported by Mr. and Mrs.
Ting, 162,000 shares are beneficially owned by them jointly
(shared voting and dispositive power), 60,000 shares are
beneficially owned by Mr. Ting (sole voting and dispositive
power), and 3,000 shares are beneficially owned by Mrs. Ting
(sole voting and dispositive power). The shares of Common Stock
reported by Mr. and Mrs. Mahonski are owned jointly, with shared
voting and dispositive power over all of such shares.
With respect to the shares reported by MH&A, MH&A is a
registered investment advisor that manages client funds on a
discretionary basis. Client and MH&A funds were used to purchase
the shares reported by MH&A, with MH&A possessing the sole voting
and dispositive power with respect to all such shares. The
shares of Common Stock reported by Mr. Friedenberg are owned by
Firebird Capital, a financial advisory firm, in investment
accounts for the benefit of clients with Mr. Friedenberg
possessing the sole voting and dispositive power with respect to
all such shares.
With respect to the shares reported by Mr. Wright,
70,000 shares result from direct purchases of shares from the
Company pursuant to the exercise of options to purchase Common
Stock. Mr. Wright also owns an option to acquire 100,000 shares
of Chantal Skin Care Corp., a subsidiary of the Company. Mr.
Phalen holds options to acquire 50,000 shares of Chantal Skin
Care Corp.
The shares of Common Stock reported by Mr. Miller are
owned by Mr. Miller and his wife as trustees for the benefit of
The Miller Trust. Mr. and Mrs. Miller have shared voting and
dispositive power over all of such shares. The shares of Common
Stock reported by Mr. McInnis are owned by The Patrick J. McInnis
Living Trust and Mr. McInnis is the sole trustee possessing sole
voting and dispositive power.
Except for the foregoing, none of the persons referred
to in this Item 5 beneficially owns any shares of Common Stock or
has or knows any other person who has the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of, any shares of Common Stock owned beneficially
by any of the persons filing this Schedule 13D.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
The persons making this filing have a general
understanding among themselves whereby they will consult with
each other before purchasing or disposing of any shares of Common
Stock. Except for such understanding none of the persons filing
this statement has any contracts, arrangements, understandings or
relationships (legal or otherwise) with any person with respect
to any securities of the Company, including but not limited to
any agreements concerning (i) transfer or voting of any
securities of the Company, (ii) finder's fees, (iii) joint
ventures, (iv) loan or option arrangements, (v) puts or calls,
(vi) guarantees of profits, (vi) division of profits or loss or
(viii) the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
Exhibit 1: Joint Filing Agreement.
SIGNATURES AND POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person or
entity whose signature appears below constitutes and appoints
Peter Ting and Paul Locigno, and each of them, his or its true
and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him or it and in his or its
name, place and stead, in any and all capacities, to sign any and
all amendments to this Statement on Schedule 13D and to file the
same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and
each of them, full power and authority to do and perform each and
every act and thing requisite and necessary to be done, as fully
to all intents and purposes as he or it might or could do in
person, hereby ratifying and confirming all that said attorneys-
in-fact and agents or any of them, or their or his substitute or
substitutes may lawfully do or cause to be done by virtue
thereof.
After reasonable inquiry and to the best knowledge and
belief of each person or entity set forth below, each such person
or entity certifies that the information set forth in this
Statement is true, complete and correct.
Signature Date
/s/ Robert J. Binder June 7, 1997
--------------------------
Robert J. Binder
/s/ Brad Bulloch June 8, 1997
--------------------------
Brad Bulloch
Doran Capital Management, L.P.
By________________________ June __, 1997
/s/ Douglas S. Friedenberg June 10, 1997
--------------------------
Douglas S. Friedenberg
/s/ Kathleen Gibson June 7, 1997
--------------------------
Kathleen Gibson
/s/ William Gibson June 7, 1997
--------------------------
William Gibson
/s/ David James June 9, 1997
--------------------------
David James
/s/ Paul R. Locigno June 7, 1997
--------------------------
Paul Robert Locigno
/s/ Richard J. Love June 9, 1997
--------------------------
Richard J. Love
/s/ Rick Mahonski June 7, 1997
--------------------------
Rick Mahonski
/s/ Diane Mahonski June 7, 1997
--------------------------
Diane Mahonski
/s/ Patrick J. McInnis June 9, 1997
--------------------------
Patrick J. McInnis
/s/ Howard Miller June 9, 1997
--------------------------
Howard Miller
MH & Associates Securities
Management Corporation
By /s/ John Z. Heilman June 6, 1997
------------------------
John Z. Heilman
/s/ E.C. Morgan June 9, 1997
--------------------------
E.C. Morgan
/s/ Francis T. Phalen June 6, 1997
--------------------------
Francis T. Phalen
/s/ Peter Ting June 6, 1997
--------------------------
Peter Ting
/s/ Margarette Ting June 6, 1997
--------------------------
Margarette Ting
/s/ Donald W. Wright June 5, 1997
--------------------------
Donald W. Wright
Exhibit 1
JOINT FILING AGREEMENT
Each of the undersigned does hereby agree that the
Schedule 13D filed herewith and any amendments thereto relating
to the acquisition of shares of Common Stock, par value $.01 per
share, of Chantal Pharmaceutical Corporation, a Delaware
corporation, is filed jointly on behalf of each such person.
Signature Date
/s/ Robert Binder June 7, 1997
--------------------------
Robert Binder
/s/ Brad Bulloch June 8, 1997
---------------------------
Brad Bulloch
Doran Capital Management, L.P.
By /s/ Barbara Doran June 6, 1997
------------------------
/s/ Douglas S. Friedenberg June 10, 1997
---------------------------
Douglas S. Friedenberg
/s/ Kathleen Gibson June 7, 1997
---------------------------
Kathleen Gibson
/s/ William Gibson June 7, 1997
---------------------------
William Gibson
/s/ David James June 9, 1997
---------------------------
David James
/s/ Paul R. Locigno June 7, 1997
---------------------------
Paul Robert Locigno
/s/ Richard J. Love June 9, 1997
---------------------------
Richard J. Love
/s/ Howard Miller June 9, 1997
---------------------------
Howard Miller
/s/ Rick Mahonski June 7, 1997
---------------------------
Rick Mahonski
/s/ Diane Mahonski June 7, 1997
---------------------------
Diane Mahonski
/s/ Patrick J. McInnis June 9, 1997
---------------------------
Patrick J. McInnis
MH & Associates Securities
Management Corporation
By /s/ John Z. Heilman June 6, 1997
-------------------------
John Z. Heilman
/s/ E.C. Morgan June 9, 1997
---------------------------
E.C. Morgan
/s/ Francis T. Phalen June 6, 1997
---------------------------
Francis T. Phalen
/s/ Peter Ting June 6, 1997
---------------------------
Peter Ting
/s/ Margarette Ting June 6, 1997
---------------------------
Margarette Ting
/s/ Donald W.Wright June 5, 1997
---------------------------
Donald W. Wright
SIGNATURES
After reasonable inquiry and to the best knowledge and
belief of each person or entity set forth below, each such person
or entity certifies that the information set forth in this
Statement is true, complete and correct.
Signature Date
Doran Capital Management, L.P.
By: /s/ Barbara Doran June 6, 1997
--------------------------
Appendix A
1. Robert J. Binder
(a) Business Address Bay Imaging Consultants
Medical Group
2125 Ygnacio Valley Road
Suite 200-K
Walnut Creek, Ca 94598
(b) Principal Occupation Radiologist
2. Brad Bulloch
(a) Residence Address 69979 Meadow View Road
Sisters, Oregon 97759
(b) Principal Occupation Investor
3. Doran Capital Management, L.P.
(a) Business Address 237 Park Avenue
Suite 900
NY, NY 10017
(b) Principal Occupation Hedge fund
4. Douglas S. Friedenberg
(a) Business Address Firebird Capital
1775 Broadway, Suite 1410
NY, NY 10019
(b) Principal Occupation President
Firebird Capital
(financial advisory)
5. Kathleen P. and William T. Gibson
(a) Residence Address 109 La Plata
Santa Barbara, Ca 93109
(b) Principal Occupation Senior Investment Analyst
Cruttenden Roth
809 Presicio Ave
Santa Barbara, Ca 93101
6. David James
(a) Business Address P.O. Box 3372
Falls Church, Va 22043
(b) Principal Occupation Public Relations
7. Paul R. Locigno
(a) Business Address Rollins International,
Limited
510 King Street
Suite 302
Alexandria, Va 22314
(b) Principal Occupation Business Consultant
8. Richard J. Love
(a) Business Address RJL Capital Management
804 Anacpia Street
Santa Barbara, Ca 93101
(b) Principal Occupation Investment Advisory
Services
9. Rick and Diane Mahonski
(a) Residence Address 543 Clinton
S Williamsport, Pa
17701-7501
(b) Principal Occupation Goldsmith
10. Patrick J. McInnis
(a) Residence Address 227 East 60th St
NY, NY 10022-1443
(b) Principal Occupation [Co-Owner]
David Duncan Antiques
227 East 60th Street
NY, NY 10022-1433
11. MH & Associates Securities Management Corporation
(a) Business Address 21031 Ventura Blvd.
Suite 307
Woodland Hills, Ca 91364
(b) Principal Employment see above
(registered investment
advisor)
12. Howard Miller
(a) Residence Address 13 Edgewater Road
Belvedere, Ca 94920
(b) Principal Occupation Retired
13. E.C. Morgan
(a) Residence Address 2106 Jackson Street, #8
San Francisco, Ca 94115
(b) Principal Occupation Morgan Capital Management
1 Embarcadero Center
Suite 2830
San Francisco, Ca 94111
(Hedge fund manager)
14. Francis T. Phalen
(a) Residence Address 19620 Superior St
Northridge, Ca 91324
(b) Principal Occupation Business Consultant
15. Peter and Margarette Ting
(a) Residence Address 3319 Greenmeadow Drive
Danville, Ca 94506
(b) Principal Occupation Investor
16. Donald W. Wright
(a) Residence Address 1680 Greenfield Drive
Reno, Nevada 89509
(b) Principal Occupation Business Consultant
Appendix B
PURCHASES OF COMMON STOCK WITHIN PAST 60 DAYS*
Purchase
Stock Date of Price Per No. of Shares
Purchaser Purchase Share Purchased
--------- -------- --------- -------------
Doran 5/8/97 $1.02 20,000
James 5/6/97 $1.0625 2,000
5/15/97 $1.125 2,000
5/16/97 $1.0312 500
5/20/97 $.9687 2,000
5/22/97 $.9062 2,000
5/23/97 $.8593 2,000
Locigno 6/2/97 $.8125 10,000
MH&A 4/22/97 $1.43 3,000
Phalen 5/6/97 $1.08 2,500
5/6/97 $1.09 7,500
5/23/97 $1.21 10,000
5/28/97 $.84 5,000
Ting 5/30/97 $1.03 8,400
Total $76,900
=======
SALES OF COMMON STOCK WITHIN PAST 60 DAYS*
NO. OF
STOCK DATE OF SALE PRICE SHARES
SELLER SALE PER SHARE SOLD
------ ------- ---------- ------
Ting 6/2/97 $.97 1,400
________________________
* All transactions were made in open-market brokerage
transactions.
