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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
Microfluidics International Corporation
(formerly Biotechnology Development Corporation)
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
595073107
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(CUSIP Number)
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).
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CUSIP NO. 595073107 13G/A PAGE 2 OF 7 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Irwin J. Gruverman
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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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CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States of America
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SOLE VOTING POWER
5
NUMBER OF
439,800
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 324,505
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
439,800
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
324,505
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
764,305, including 242,300 shares of Common Stock and options to purchase
197,500 shares exercisable within 60 days owned directly by Mr. Gruverman,
and 324,505 shares of Common Stock owned jointly by Mr. Gruverman and his
wife.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES [X]
Does not include 100,000 shares held by Majorie Gruverman.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
14.4%
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TYPE OF REPORTING PERSON
12
IN
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CUSIP NO. 595073107 13G/A PAGE 3 OF 7 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marjorie B. Gruverman
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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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CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States of America
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SOLE VOTING POWER
5
NUMBER OF
100,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 324,505
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
100,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
324,505
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
424,505, including 100,000 shares of Common Stock owned directly by Mrs.
Gruverman, and 324,505 shares of Common Stock owned jointly by Mrs.
Gruverman and her husband.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [X]
Does not include 242,300 shares and options to purchase 197,500 shares
held by Irvin Gruverman
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
8.3%
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TYPE OF REPORTING PERSON
12
IN
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Item 1(a) Name of Issuer
--------------
Microfluidics International Corporation
(formerly Biotechnology Development Corporation)
Item 1(b) Address of Issuer's Principal Executive Offices
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30 Ossipee Road, Newton, MA 02164
Item 2(a) Name of Person Filing
---------------------
Irwin J. Gruverman and Marjorie B. Gruverman
Item 2(b) Address of Principal Business Office or, if none, Residence
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Microfluidics International Corp., 30 Ossipee Rd.,
Newton, MA 02164
Item 2(c) State of Organization/Citizenship
---------------------------------
Mr. Gruverman and Mrs. Gruverman are United States citizens.
Item 2(d) Title of Class of Securities
----------------------------
Common Stock, $.01 par value.
Item 2(e) CUSIP Number
------------
595073107
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-
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2(b), check whether the person filing is a
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(a) [_] Broker or Dealer registered under Section 15 of the Act
(b) [_] Bank as defined in Section 3(a)(6) of the Act
(c) [_] Insurance Company as defined in Section 3(a)(19) of the
Act
(d) [_] Investment Company registered under Section 8 of the
Investment Company Act
Page 4 of 7 pages
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(e) [_] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) [_] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see S240.13d-1(b)(1)(ii)(F)
(g) [_] Parent Holding Company, in accordance with S240.13d-
1(b)(1)(ii)(G)
(h) [_] Group, in accordance with S240.13d-1(b)(1)(ii)(H)
Not applicable.
Item 4. Ownership
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(a) Amount Beneficially Owned: Mr. Gruverman beneficially owns an
aggregate of 764,305 shares of Common Stock, including
242,300 shares of Common Stock held of record, options to
purchase 197,500 shares exercisable within 60 days of the
date hereof owned directly by Mr. Gruverman, and 324,505
shares of Common Stock owned jointly by Mr. Gruverman and
his wife. Mrs. Gruverman beneficially owns 424,505 shares
of Common Stock, including 100,000 shares of Common Stock
owned directly by Mrs. Gruverman and 324,505 shares of
Common Stock owned jointly by Mrs. Gruverman and her
husband. Mr. Gruverman disclaims beneficial ownership of
the 100,000 shares owned by Mrs. Gruverman and Mrs.
Gruverman disclaims beneficial ownership of 242,300 shares
and options to purchase 197,500 shares held by Mr.
Gruverman.
(b) Percent of Class:
Mr. Gruverman beneficially owns 14.4% of the Common Stock
of the Issuer.
Mrs. Gruverman beneficially owns 8.3% of the Common Stock
of the Issuer.
(c) Number of shares as to which such person has:
<TABLE>
<C> <S> <C>
(i) sole power to vote or to direct the vote:
Mr. Gruverman 439,800
Mrs. Gruverman 100,000
(ii) shared power to vote or to direct the vote:
Mr. Gruverman 324,505
Mrs. Gruverman 324,505
(iii) sole power to dispose or to direct the disposition of:
Mr. Gruverman 439,800
Mrs. Gruverman 100,000
(iv) shared power to dispose or to direct the disposition of:
Mr. Gruverman 324,505
Mrs. Gruverman 324,505
</TABLE>
The foregoing percentages are calculated based on the
5,122,396 shares of Common Stock reported to be outstanding
in the Quarterly Report on Form 10-Q of the Issuer for the
quarter ended September 30, 1997.
Item 5. Ownership of Five Percent or Less of a Class
--------------------------------------------
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
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Not applicable.
Page 5 of 7 pages
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Item 7. Identification and Classification of the Subsidiary Which
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Acquired the Security Being Reported on By the Parent Holding
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Company
-------
Not applicable.
Item 8. Identification and Classification of Members of the Group
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Not applicable.
Item 9. Notice of Dissolution of Group
------------------------------
Not applicable.
Item 10. Certification
-------------
Not applicable.
Signature
---------
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.
Date: February 17, 1998 /s/ Irwin J. Gruverman
-------------------------------------
Irwin J. Gruverman
/s/ Marjorie B. Gruverman
-------------------------------------
Marjorie B. Gruverman
Page 6 of 7 pages
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EXHIBIT 1
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JOINT FILING AGREEMENT OF
IRWIN J. GRUVERMAN AND MARJORIE B. GRUVERMAN
The undersigned hereby agree that the Schedule 13G/A with respect to
the securities of Microfluidics International Corporation dated as of even date
herewith is filed on behalf of each of us pursuant to and in accordance with the
provisions of Rule 13d-1(f) under the Securities Exchange Act of 1934, as
amended.
Dated: February 17, 1998 /s/ Irwin J. Gruverman
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Irwin J. Gruverman
/s/ Marjorie B. Gruverman
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Marjorie B. Gruverman
