UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Microlytics, Inc. (formerly SelecTronics, Inc.)
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
816314108
(CUSIP Number)
Check the following box if a fee is being paid with this
statement / /. (A fee is not required only if the filing
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).
*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 the
disclosures provided in a prior cover page.
The information required in 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>
CUSIP No. 816314108 Page 2 of 11
Pages
___________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Horsley Bridge Partners, Inc.
16-1193261
___________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) / /
(b) /x/
___________________________________________________________________________
(3) SEC USE ONLY
___________________________________________________________________________
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
___________________________________________________________________________
(5) SOLE VOTING POWER
0
_________________________________________________
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 32,458,651
EACH REPORTING PERSON _________________________________________________
WITH (7) SOLE DISPOSITIVE POWER
0
_________________________________________________
(8) SHARED DISPOSITIVE POWER
32,458,651
___________________________________________________________________________
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
32,458,651
___________________________________________________________________________
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
__________________________________________________________________________
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
25.1%
___________________________________________________________________________
(12) TYPE OF REPORTING PERSON (See Instructions)
IA, CO
___________________________________________________________________________
<PAGE>
CUSIP No. 816314108 Page 3 of 11
Pages
___________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Phillip Horsley
###-##-####
___________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) / /
(b) /x/
___________________________________________________________________________
(3) SEC USE ONLY
___________________________________________________________________________
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
___________________________________________________________________________
(5) SOLE VOTING POWER
0
_________________________________________________
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 32,458,651
EACH REPORTING PERSON _________________________________________________
WITH (7) SOLE DISPOSITIVE POWER
0
_________________________________________________
(8) SHARED DISPOSITIVE POWER
32,458,651
___________________________________________________________________________
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
32,458,651
___________________________________________________________________________
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
___________________________________________________________________________
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
25.1%
___________________________________________________________________________
(12) TYPE OF REPORTING PERSON (See Instructions)
IN
___________________________________________________________________________
<PAGE>
CUSIP No. 816314108 Page 4 of 11
Pages
___________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gary L. Bridge
###-##-####
___________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) / /
(b) /x/
___________________________________________________________________________
(3) SEC USE ONLY
___________________________________________________________________________
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
___________________________________________________________________________
(5) SOLE VOTING POWER
0
_________________________________________________
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 32,458,651
EACH REPORTING PERSON _________________________________________________
WITH (7) SOLE DISPOSITIVE POWER
0
_________________________________________________
(8) SHARED DISPOSITIVE POWER
32,458,651
___________________________________________________________________________
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
32,458,651
___________________________________________________________________________
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
___________________________________________________________________________
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
25.1%
___________________________________________________________________________
(12) TYPE OF REPORTING PERSON (See Instructions)
IN
___________________________________________________________________________
<PAGE>
Page 5 of 11 Pages
ITEM 1.
(a) NAME OF ISSUER. Microlytics, Inc. (formerly known
as SelecTronics, Inc.)
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
2 Tobey Village Office Park
Pittsford, New York 14534
ITEM 2.
(a) NAME OF PERSON FILING.
This Schedule 13G Statement is filed on behalf of
Horsley Bridge Partners, Inc. ("HBP"), Phillip Horsley
("Horsley") and Gary L. Bridge ("Bridge"). HBP, Horsley and
Bridge are sometimes hereinafter collectively referred to as the
"Reporting Persons."
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
RESIDENCE.
The principal business office of HBP, Horsley and
Bridge is:
505 Montgomery Street
San Francisco, California 94111
(c) CITIZENSHIP.
HBP is organized in the State of Delaware.
Horsley and Bridge are each citizens of the U.S.A.
(d) TITLE OF CLASS OF SECURITIES.
Common Stock
(e) CUSIP NUMBER.
816314108
<PAGE>
Page 6 of 11 Pages
ITEM 3.
This Statement is being filed pursuant to Rules 13d-
1(b) or 13d-2(b) and HBP is an investment adviser registered
under section 203 of the Investment Advisers Act of 1940.
Horsley and Bridge are the trustees of certain
family trusts which own all of the stock of HBP and are the
directors of HBP and, therefore, may be deemed to share the
voting and dispositive power held by HBP. Horsley and Bridge are
filing this joint Schedule 13G Statement along with HBP in
accordance with the Securities and Exchange Commission's
interpretive policy that individuals who control an entity which
is eligible to file reports on Schedule 13G pursuant to Rule 13d-
1(b)(ii)(G) may file a joint Schedule 13G with such Schedule 13G
eligible entity, provided that such individuals' holdings
(exclusive of those held through such entity) do not exceed 1%
and a separate cover page is filed for each such individual.
See e.g. No-action letters issued to Edward C. Johnson 3d
(available August 20, 1991) and Berkshire Hathaway, Incorporated
(available October 3, 1986). Horsley and Bridge do not
beneficially own any shares of the Common Stock of Microlytics,
Inc. other than indirectly through HBP.
ITEM 4. OWNERSHIP.
With respect to HBP:
(a) Amount Beneficially Owned: 32,458,651
(b) Percent of Class: 25.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to
direct the vote: None
(ii) shared power to vote or
to direct the vote: 32,458,651
(iii) sole power to dispose or to
direct the disposition of: None
(iv) shared power to dispose or to
direct the disposition of: 32,458,651
<PAGE>
Page 7 of 11 Pages
With respect to Horsley and Bridge:
(a) Amount Beneficially Owned: 32,458,651
(b) Percent of Class: 25.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to
direct the vote: None
(ii) shared power to vote or
to direct the vote: 32,458,651
(iii) sole power to dispose or to
direct the disposition of: None
(iv) shared power to dispose or to
direct the disposition of: 32,458,651
Effective on July 1, 1995, HBP and Xerox
Corporation ("Xerox") entered into an Asset Management Agreement
pursuant to which HBP has been appointed by Xerox to act as
investment manager with respect to certain securities issued by
Microlytics, Inc. which are owned by Xerox. As of
December 31, 1995, Xerox owned (i) 15,751,651 shares of Common
Stock of Microlytics, Inc. ("Common Stock"), (ii) 1,404,200
shares of Preferred Stock of Microlytics, Inc. which as of such
date were convertible into an additional 14,042,000 shares of
Common Stock, (iii) options, which were then exercisable, to
purchase an additional 1,000,000 shares of Common Stock, and (iv)
warrants, which were then exercisable, for the purchase of an
additional 1,665,000 shares of Common Stock. Pursuant to the
terms of the Management Agreement, HBP has power to vote or to
direct the vote and to dispose or to direct the disposition of
Common Stock owned by Xerox and to be acquired by Xerox upon
conversion or exercise of the Preferred Stock, options and
warrants described above. Horsley and Bridge are the trustees of
certain family trusts which own all of the stock of HBP and are
the directors of HBP.
<PAGE>
Page 8 of 11 Pages
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.
Xerox has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the
sale of, the Common Stock.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not acquired
for the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any
transaction having such purposes or effect.
EXHIBIT A. Joint Filing Agreement Pursuant to Rule
13d-1(f)(1)(iii)
<PAGE>
Page 9 of 11 Pages
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.
Dated: January 30, 1996
HORSLEY BRIDGE PARTNERS, INC.
By: /s/ Phillip Horsley
Phillip Horsley
Its: President
/s/ Phillip Horsley
PHILLIP HORSLEY
/s/ Gary L. Bridge
GARY L. BRIDGE
<PAGE>
Page 10 of 11 Pages
EXHIBIT INDEX
EXHIBIT Page
Exhibit A Joint Filing Agreement Pursuant to Rule 11
13d-1(f)(1)(iii)
Page 11 of 11 Pages
EXHIBIT A
Pursuant to Rule 13d-1(f)(1)(iii) of Regulation 13D-G
of the General Rules and Regulations of the Securities and Exchange
Commission under the Securities Exchange Act of 1934, as amended,
the undersigned agree that the statement to which this Exhibit is
attached is filed on behalf of each of them.
HORSLEY BRIDGE PARTNERS, INC.
By: /s/ Phillip Horsley
Phillip Horsley
Its: President
/s/ Phillip Horsley
PHILLIP HORSLEY
/s/ Gary L. Bridge
GARY L. BRIDGE
