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CUSIP NO. 367631108 Page 1 of 5 Pages
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 19)(1)
Under the Securities Exchange Act of 1934
GATEWAY INDUSTRIES, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
367595105
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(CUSIP Number)
Joseph Greenberger, Esq.
1370 Avenue of the Americas
New York, New York 10019-4602
(212) 757-4001
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 15, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement
on Schedule 13G to report the acquisition which is
the subject of this
Schedule 13D, and is filing this schedule because of Rule
13d-1(b)(3) or (4), check the following box |_|.
Check the following box if a fee is being paid with the
statement |_|.
Page 1 of 5 pages
(1) 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 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. 367631108 Page 2 of 5 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Steel Partners II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 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 POWER
SHARES
BENEFICIALLY 1,388,608
OWNED BY ----------------------------------------------------------------
EACH
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-0-
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,388,608
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,388,608
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.7%
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14 TYPE OF REPORTING PERSON
PN
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CUSIP NO. 367631108 Page 3 of 5 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Warren G. Lichtenstein
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,469,893(1)
OWNED BY ----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,469,893(1)
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,469,893(1)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
40.1%
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14 TYPE OF REPORTING PERSON
IN
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(1) Includes (i) 1,388,608 Shares owned by Steel Partners II, L.P., an entity
controlled by Mr. Lichtenstein, (ii) 45,952 Shares owned directly by Mr.
Lichtenstein, and (iii) 35,333 Shares underlying stock options that may be
acquired within 60 days.
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CUSIP NO. 367631108 Page 4 of 5 Pages
STATEMENT FOR SCHEDULE 13D
This constitutes Amendment No. 19 to Schedule 13D filed by the
undersigned on or about August 4, 1995. Except as specifically amended hereby,
said Schedule 13D, as heretofore amended, remains in full force and effect.
Defined terms have the meanings specified in said Schedule 13D, as heretofore
amended.
Item 3. Source and Amount of Funds or Other Consideration.
The first paragraph of Item 3 is amended to read in its entirety as follows:
The aggregate purchase price of the 1,388,608 Shares owned by
Steel Partners II is $3,304,278. The Shares owned by Steel Partners II were
acquired with partnership funds.
Item 5. Interest in Securities of the Issuer.
Item 5(a) and 5(c) are amended in their entirely to read as follows:
(a) The aggregate percentage of Shares reported owned by each
person named herein is based upon 3,592,000 Shares outstanding, which is the
total number of shares of Common Stock outstanding as reported in the Issuer's
Form 10-QSB for the quarter ended September 30, 1997. As of the close of
business on January 23, 1998, Steel Partners II, beneficially owned 1,388,608
Shares, constituting approximately 38.7% of the Shares outstanding. Mr.
Lichtenstein beneficially owns 1,469,893 Shares (including Shares underlying
options that may be acquired within 60 days),representing approximately 40.1% of
the Shares outstanding. Mr. Lichtenstein has sole voting and dispositive power
with respect to the 1,469,893 Shares owned beneficially by him and the 1,388,608
Shares owned by Steel Partners II, by virtue of his authority to vote and
dispose of the Shares.
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CUSIP NO. 367631108 Page 5 of 5 Pages
(c) No reporting person has engaged in any transaction in the
shares of Issuer's common stock within the past 60 days, except that Steel
Partners II made the following purchase:
Date No. Of Shares Purchase Price
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1/15/98 501,000 $1.52
SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: January 26, 1998 STEEL PARTNERS II, L.P.
By: Steel Partners L.L.C.
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General Partner
By: /s/Warren G. Lichtenstein
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Warren G. Lichtenstein
(Chief Executive Officer)
/s/Warren G. Lichtenstein
---------------------------------
WARREN G. LICHTENSTEIN
