<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 16 )*
TRISTAR CORPORATION
----------------------------------
(Name of Issuer)
Common Stock, $0.01 Par Value
----------------------------------
(Title of Class of Securities)
778242107
----------------------
(CUSIP Number)
Virendra Sheth; Tristar Corporation; 12500 San Pedro, Suite 500; San Antonio,
-----------------------------------------------------------------------------
Texas 78216; (210) 281-7000 and Kirit Sheth; P.O. Box 16758; Jebel Ali
----------------------------------------------------------------------
Free Zone; Dubai, United Arab Emirates, Tel: 011-97-14-519-444
--------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 9, 1998
(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 this 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.
*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).
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 1 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 2
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mahendra Sheth
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
India
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: 14,697,984 shares, includes
EACH 2,400,000 shares of capable of being acquired through
REPORTING exercise of a warrant
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: 14,697,984 shares, includes
2,400,000 shares of capable of being acquired through
exercise of a warrant
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
14,697,984 shares, includes 2,400,000 shares of capable of being acquired through exercise of a warrant
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
87.7%
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 2 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 3
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Shashikant Sheth
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
India
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: 14,697,984 shares, includes
EACH 2,400,000 shares of capable of being acquired through
REPORTING exercise of a warrant
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: 14,697,984 shares, includes
2,400,000 shares of capable of being acquired through
exercise of a warrant
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
14,697,984 shares, includes 2,400,000 shares of capable of being acquired through exercise of a warrant
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
87.7%
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 3 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 4
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kirit Sheth
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
India
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: 14,697,984 shares, includes
EACH 2,400,000 shares of capable of being acquired through
REPORTING exercise of a warrant
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: 14,697,984 shares, includes
2,400,000 shares of capable of being acquired through
exercise of a warrant
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
14,697,984 shares, includes 2,400,000 shares of capable of being acquired through exercise of a warrant
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
87.7%
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 4 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 5
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jamnadas Sheth
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
India
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: 14,697,984 shares, includes
EACH 2,400,000 shares of capable of being acquired through
REPORTING exercise of a warrant
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: 14,697,984 shares, includes
2,400,000 shares of capable of being acquired through
exercise of a warrant
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
14,697,984 shares, includes 2,400,000 shares of capable of being acquired through exercise of a warrant
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
87.7%
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 5 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 6
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jayesh Sheth
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
England
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: -0-
EACH
REPORTING
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: -0-
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
-0-
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Not applicable
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 6 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 7
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Virendra Sheth
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
USA
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: 14,697,984 shares, includes
EACH 2,400,000 shares of capable of being acquired through
REPORTING exercise of a warrant
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: 14,697,984 shares, includes
2,400,000 shares of capable of being acquired through
exercise of a warrant
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
-0-
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Not applicable
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 7 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 8
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Starion International Limited
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: 14,697,984 shares, includes
EACH 2,400,000 shares of capable of being acquired through
REPORTING exercise of a warrant
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: 14,697,984 shares, includes
2,400,000 shares of capable of being acquired through
exercise of a warrant
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,220,174 shares, includes 2,400,000 shares of capable of being acquired through exercise of a warrant
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
31.1%
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 8 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 9
<TABLE>
<S> <C> <C>
=====================================================================================================================
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Transvit Manufacturing Corporation
----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not applicable
----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
----------------------------------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
British Virgin Islands
----------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER: -0-
SHARES -----------------------------------------------------------
BENEFICIALLY 8
OWNED BY SHARED VOTING POWER: 9,477,810 shares
EACH
REPORTING
PERSON 9 -----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER: -0-
-----------------------------------------------------------
10
SHARED DISPOSITIVE POWER: 9,477,810 shares
----------------------------------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
9,477,810 shares
----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
56.6%
----------------------------------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
=====================================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
TRISTAR CORPORATION SCHEDULE 13D
CUSPID NO. 778242107 PAGE 9 OF 20 PAGES
--------- --------------------------------
- --------------------------------
<PAGE> 10
This Amendment No. 16 to the Statement on Schedule 13D filed jointly by
Mahendra Sheth, Shashikant Sheth, Kirit Sheth, and Jamnadas Sheth (collectively
the "Core Sheth Families"), together with Starion International Limited
("Starion"), Transvit Manufacturing Corporation ("Transvit Manufacturing"),
Jayesh Sheth, and Virendra Sheth (all of the foregoing referred to collectively
as the "Reporting Persons") (the "Schedule 13D") pursuant to a joint filing
agreement attached to this Amendment No. 16 as Exhibit 1, relates to the Common
Stock of TRISTAR CORPORATION, formerly known as Ross Cosmetics Distribution
Centers, Inc. (the "Issuer").
The Schedule 13D is amended as follows:
Item 1. Security and Issuer.
This amendment relates to the termination of the pledge of 600,000
shares of the Issuer's common stock (the "Common Stock"), by the Core Sheth
Families and Starion to B&I Lending, L.L.C. (the "Lender") pursuant to that
certain Pledge of Stock Agreement dated December 9, 1997, as amended December
12, 1997 (the "Pledge Agreement"). Such Common Stock trades on the Nasdaq
National Market. The name of the Issuer is Tristar Corporation and its principal
executive address is 12500 San Pedro, Suite 500, San Antonio, Texas 78216.
Item 2. Identity and Background.
No amendment.
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable.
Item 4. Purpose of the Transaction.
On December 9, 1997, the Core Sheth Families and Starion pledged to the
Lender 600,000 shares of the Issuer's Common Stock pursuant to the Pledge
Agreement. The shares were pledged as security to cover a loan of $1,500,000
advanced by the Lender to the Core Sheth Families and Starion.
On June 9, 1998, the Core Sheth Families and Starion repaid the
principal amount of $1,500,000 and all outstanding interest and other charges to
the Lender. Accordingly the Pledge Agreement has been terminated and the 600,000
shares of Common Stock pledged pursuant thereto have been returned to the Core
Sheth Families and Starion.
<PAGE> 11
Item 5. Interest in Securities of the Issuer.
The following table sets forth the aggregate number and percentage of
the outstanding Common Stock of the Issuer currently beneficially owned by the
Reporting Persons.
<TABLE>
<CAPTION>
Name Sole Shared Aggregate Shares Percentage of
Voting Voting Beneficially Common
Power Power Owned Stock
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
All Reporting Persons as -0- 14,697,984 14,697,984 87.7
a Group
The Core Sheth Families -0- 14,697,984 14,697,984 87.7
Transvit Manufacturing -0- 9,477,810 9,477,810 56.6
Shashikant Sheth -0- 14,697,984 14,697,984 87.7
Mahendra Sheth -0- 14,697,984 14,697,984 87.7
Kirit Sheth -0- 14,697,984 14,697,984 87.7
Jamnadas Sheth -0- 14,697,984 14,697,984 87.7
Starion Int'l Ltd. -0- 5,220,174 5,220,174 31.1
Jay Sheth -0- -0- -0- -0-
Viren Sheth -0- -0- -0- -0-
</TABLE>
Except with regard to Transvit Manufacturing, Jay Sheth and Viren
Sheth, each of the above figures reflects 2,400,000 shares capable of being
acquired through the exercise of warrants.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
The information set forth in Item 4 is incorporated by reference.
<PAGE> 12
Item 7. Material to be Filed as Exhibits.
1. Written Agreement of the Reporting Persons as required by Rule 13d-1(f),
relating to the filing of this Amendment No. 16.
2. Pledge of Stock Agreement dated December 9, 1997, as amended on December
12, 1997 (incorporated by reference to Exhibit 2 of the Amendment No. 14 to the
Schedule 13D filed by the Reporting Persons on January 8, 1998).
<PAGE> 13
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: July 1, 1998 /s/ Kirit Sheth
--------------------------
Kirit Sheth, Individually
<PAGE> 14
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: July 1, 1998 /s/ Jamnadas Sheth
----------------------------
Jamnadas Sheth, Individually
<PAGE> 15
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: June 30, 1998 /s/ Mahendra Sheth
----------------------------
Mahendra Sheth, Individually
<PAGE> 16
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: July 28, 1998 /s/ Shashikant Sheth
------------------------------
Shashikant Sheth, Individually
<PAGE> 17
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: July 28, 1998 Starion International
By:/s/ Shashikant Sheth
-----------------------
Shashikant Sheth, Director
<PAGE> 18
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: July 1, 1998 /s/ Virendra Sheth
----------------------------
Virendra Sheth, Individually
<PAGE> 19
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: July 1, 1998 /s/ Jayesh Sheth
--------------------------
Jayesh Sheth, Individually
<PAGE> 20
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: July 1, 1998 Transvit Manufacturing Corporation
By:/s/ Mahendra Sheth
-----------------------
Mahendra Sheth, Director
<PAGE> 21
INDEX TO EXHIBITS
Exhibit Description
- ------- -----------
1 Agreement of Reporting Persons
2 Pledge of Stock Agreement dated December 9, 1997, as amended on
December 12, 1997 (incorporated by reference to Exhibit 2 of the
Amendment No. 14 to the Schedule 13 filed by the Reporting
Persons on January 8, 1998).
<PAGE> 1
EXHIBIT 1
Agreement of Reporting Persons
The undersigned agree that this Amendment No. 16 to the Schedule 13D
dated July 29, 1998, is being filed with the Securities and Exchange Commission
on behalf of each of Mahendra Sheth, Shashikant Sheth, Kirit Sheth, Jamnadas
Sheth, Starion International, Ltd., Transvit Manufacturing Corp., Virendra
Sheth, and Jayesh Sheth.
/s/ Jamnadas Sheth
----------------------------------
Jamnadas Sheth, Individually
/s/ Shashikant Sheth
----------------------------------
Shashikant Sheth, Individually
/s/ Mahendra Sheth
----------------------------------
Mahendra Sheth, Individually
/s/ Kirit Sheth
----------------------------------
Kirit Sheth, Individually
/s/ Virendra Sheth
----------------------------------
Virendra Sheth, Individually
/s/ Jayesh Sheth
----------------------------------
Jayesh Sheth, Individually
Starion International Ltd. Transvit Manufacturing Corporation
By:/s/ Shashikant Sheth By:/s/ Mahendra Sheth
----------------------- -------------------------------
Name: Shashikant Sheth Name: Mahendra Sheth
Title: Director Title: President
Dated: July 28, 1998
