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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. __)*
PERSONAL COMPUTER PRODUCTS, INC.
--------------------------------
(Name of Issuer)
Common Stock
--------------------------------
(Title of Class of Securities)
714901105
--------------------------------
(CUSIP Number)
Deborah Topacio
MCM Partners, L.P.
One Embarcadero Center, Suite 2830
San Francisco, CA 94111
(415) 788-3232
-----------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 21, 1996
-------------------------------------------------------
(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 the 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.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
(continued on following pages)
(Page 1 of 11 Pages)
*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 ("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).
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 2 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MCM Partners, L.P.
IRS No.: 94-3159233
- ------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not applicable.
- ------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
None.
NUMBER OF --------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 4,057,833
EACH
REPORTING --------------------------------------------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
None.
--------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,057,833
- ------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,057,833
- ------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not applicable.
- ------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.83 percent
- ------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
PN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
</FN>
</TABLE>
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 3 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgan Capital Management, Inc.
IRS No.: 94-3133631
- ------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not applicable.
- ------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
None.
NUMBER OF
SHARES --------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,057,833
REPORTING --------------------------------------------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
None.
--------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,057,833
- ------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,057,833
- ------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not applicable.
- ------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.83 percent
- ------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
CO
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
</FN>
</TABLE>
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 4 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ellison Christopher Morgan
Social Security No. ###-##-####
- ------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not applicable.
- ------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
None.
NUMBER OF
SHARES --------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 4,057,833
REPORTING
PERSON --------------------------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,057,833
- ------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,057,833
- ------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not applicable.
- ------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.83 percent
- ------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
</FN>
</TABLE>
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 5 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
</TABLE>
Item 1. Security and Issuer.
This filing relates to the Common Stock of Personal Computer
Products, Inc. (the "Issuer"). The address of the Issuer's principal executive
office is 11031 Via Frontera, San Diego, CA 92127.
Item 2. Identity and Background.
This statement is being filed by MCM Partners, L.P., a California
limited partnership (the "Partnership"), and by the general partners of the
Partnership, Ellison Christopher Morgan and Morgan Capital Management, Inc., a
California corporation. The principal business of MCM Partners, L.P. is
investing. The principal business of Morgan Capital Management, Inc. is
investing on behalf of others and advising others about their investments. The
address of the principal business and the address of the principal office of the
Reporting Persons is One Embarcadero Center, Suite 2830, San Francisco, CA
94111. No Reporting Person has, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors). No
Reporting Person has, during the last five years, been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and
has not as a result of any such proceeding been subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws. Ellison Christopher Morgan is a U.S. Citizen.
Item 3. Source and Amount of Funds and Other Consideration.
All funds used to purchase the Common Stock of the Issuer have been
funds invested in the Partnership by its general and limited partners.
Item 4. Purpose of the Transaction.
The Partnership's purchase of the Issuer's Common Stock was made
for passive investment purposes only.
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 6 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
</TABLE>
<TABLE>
Item 5. Interest in Securities of the Issuer.
<CAPTION>
==================================================================
Power to Vote Power to Dispose
=====================================================================================================
No. of Shares
Beneficially Percentage
Owned of Class Sole Shared Sole Shared
======================-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MCM Partners,
L.P. 4,057,833 8.83 4,057,833 4,057,833
- ---------------------------------------------------------------------------------------------------------------------------
Ellison
Christopher
Morgan 4,057,833 8.83 4,057,833 4,057,833
- ---------------------------------------------------------------------------------------------------------------------------
Morgan Capital
Management,
Inc. 4,057,833 8.83 4,057,833 4,057,833
===========================================================================================================================
</TABLE>
(c) The trading dates, number of shares purchased or sold and price
per share for all transactions by MCM Partners, L.P. during the past 60 days are
set forth on Schedule A hereto. Except for 3,333,333 shares purchased on March
21, 1996 in a private placement, all such transactions were over-the-counter
transactions effected in the pink sheets. No other transactions were effected by
MCM Partners, L.P. during such period.
(d) None.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
None.
Item 7. Material to be Filed as Exhibits.
See the Exhibit concerning the disclaimer of beneficial ownership.
See also the attached Joint Filing Agreement.
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 7 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
</TABLE>
SIGNATURES
After reasonable inquiry and to the best of each of the
undersigned's knowledge and belief, the undersigned certify that the information
set forth in this statement is true, complete and correct.
Dated: January 28, 1997
<TABLE>
MCM PARTNERS, L.P. MORGAN CAPITAL
MANAGEMENT, INC.
<S> <C> <C>
/s/ E. C. Morgan /s/ E. C. Morgan /s/ E. C. Morgan
- ----------------------------- ----------------------------- ----------------------------
Ellison Christopher Morgan, Ellison Christopher Morgan, Ellison Christopher Morgan,
a general partner its President individually
</TABLE>
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 8 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
</TABLE>
EXHIBIT
Ellison Christopher Morgan and Morgan Capital Management, Inc. disclaim
beneficial ownership as to all the shares except for the pro rata interest in
certain shares held by MCM Partners, L.P. (an investment partnership managed by
Morgan Capital Management, Inc. and Ellison Christopher Morgan) in which each
owns a general partner interest.
<PAGE>
<TABLE>
SCHEDULE 13D
<S> <C>
- ----------------------------------------------------- ----------------------------------------
CUSIP No. 714901105 Page 9 of 11 Pages
--------------------------------------- ---- ----
- ----------------------------------------------------- ----------------------------------------
</TABLE>
JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(f)(1)
This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities
Exchange Act of 1934, as amended (the "Act"), by and among the parties listed
below, each referred to herein as "Joint Filer." The Joint Filers agree that a
statement of beneficial ownership as required by Section 13(d) of the Act and
the Rules thereunder may be filed on each of their behalf on Schedule 13D, and
that said joint filing may thereafter be amended by further joint filings. The
Joint Filers state that they each satisfy the requirements for making a joint
filing under Rule 13d-1.
Dated: January 28, 1997
<TABLE>
MCM PARTNERS, L.P. MORGAN CAPITAL
MANAGEMENT, INC.
<S> <C> <C>
/s/ E. C. Morgan /s/ E. C. Morgan /s/ E. C. Morgan
- ----------------------------- ---------------------------- ------------------------------
Ellison Christopher Morgan, Ellison Christopher Morgan, Ellison Christopher Morgan,
a general partner its President individually
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
----------------------------------------
Page 10 of 11 Pages
---- ----
----------------------------------------
Schedule A
Transactions Within the Last 60 Days
(or such lesser period since the prior Schedule 13D filed)
====================================================================================================================================
No. of Shares Bought
Party Date (Sold) Price Per Share Type of Transaction
====================================================================================================================================
<S> <C> <C> <C> <C>
MCM Partners, L.P. 10/03/96 2,000 1.70 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 2,000 1.65 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 2,000 1.625 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 2,000 1.5625 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 2,500 1.67 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 2,500 1.55 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 5,000 1.6875 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 5,000 1.59 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 5,000 1.71875 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 1,000 1.6875 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 1,000 1.68 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 1,000 1.68 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 1,000 1.65 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 1,000 1.625 OTC broker
------------------------------------------------------------------------------------------------------
<PAGE>
----------------------------------------
Page 11 of 11 Pages
---- ----
----------------------------------------
====================================================================================================================================
No. of Shares Bought
Party Date (Sold) Price Per Share Type of Transaction
====================================================================================================================================
10/03/96 1,000 1.61 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 1,000 1.58 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 1,000 1.5625 OTC broker
------------------------------------------------------------------------------------------------------
10/03/96 2,000 1.6875 OTC broker
------------------------------------------------------------------------------------------------------
11/25/96 20,000 1.4063 OTC broker
------------------------------------------------------------------------------------------------------
11/26/96 7,500 1.411625 OTC broker
------------------------------------------------------------------------------------------------------
12/02/96 1,700 1.4475 OTC broker
------------------------------------------------------------------------------------------------------
12/02/96 10,000 1.41625 OTC broker
------------------------------------------------------------------------------------------------------
01/16/97 5,000 1.093700 OTC broker
------------------------------------------------------------------------------------------------------
01/17/97 5,000 1.25 OTC broker
------------------------------------------------------------------------------------------------------
01/21/97 8,500 1.2913 OTC broker
------------------------------------------------------------------------------------------------------
01/21/97 11,700 1.116630 OTC broker
------------------------------------------------------------------------------------------------------
01/22/97 1,000 1.103800 OTC broker
====================================================================================================================================
</TABLE>
