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SCHEDULE 13D
(RULE 13d-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and
Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Medtox Scientific, Inc.
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(Name of Issuer)
Common Stock and Warrants
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(Title of Class of Securities)
586999-40-1
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(CUSIP Number)
Robert T. Montague
Robins, Kaplan, Miller & Ciresi
800 LaSalle Avenue, Suite 2800
Minneapolis, MN 55408
612-349-8500
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
August 31, 2000
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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(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule
13d-7(b) 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).
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CUSIP NO. 586999-40-1 13D PAGE 2 OF 9 PAGES
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Pyramid Trading Limited Partnership 36-3723624
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK 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
Illinois
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7 SOLE VOTING POWER
NUMBER OF
0 Shares
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
280,000 Shares
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0 Shares
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 280,000 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
280,000 Shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.2%
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14 TYPE OF REPORTING PERSON (See Instructions)
BD, PN, IV
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CUSIP NO. 586999-40-1 13D PAGE 3 OF 9 PAGES
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Oakmont Investments, LLC 36-3996171
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
N/A
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5 CHECK 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
Illinois
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7 SOLE VOTING POWER
NUMBER OF
0 Shares
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
280,000 Shares
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0 Shares
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
280,000 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
280,000 Shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.2%
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14 TYPE OF REPORTING PERSON (See Instructions)
CO, IV
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CUSIP NO. 5869999-40-1 13D PAGE 4 OF 9 PAGES
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Daniel Asher, ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
N/A
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5 CHECK 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
United States
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7 SOLE VOTING POWER 0 Shares
NUMBER OF
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER 280,000 shares
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER 0 shares
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER 280,000 shares
WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
280,000 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.2%
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14 TYPE OF REPORTING PERSON (See Instructions)
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CUSIP No.586999-40-1
ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this Statement on Schedule 13D
relates is the common stock, par value $.15 per share ( the "Common Stock") and
a warrant (the "Warrant") to purchase shares of Common Stock, of Medtox
Scientific, Inc., a Delaware corporation (the "Company"). The principal
executive offices of the Company are located at 402 West County Road D, St.
Paul, MN 55112.
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed by Pyramid Trading Limited Partnership
("PT"), Oakmont Investments, LLC, the general partner of PT ("OI") and Daniel
Asher, as Manager of OI and individually ("DA"). PT, OI and DA are collectively
referred to herein as the "Reporting Persons."
The following information relates to PT:
(i) Name: Pyramid Trading Limited Partnership
(ii) State of Organization: Illinois
(iii) Principal Business: Broker-Dealer registered on CBOE
(iv) Principal Business and Office Address: 440 S. LaSalle Street,
Chicago, Illinois 60605
(v) Information required by clauses (d) an (e) of Item 2 or Schedule
13D: None.
The following information relates to OI:
(i) Name: Oakmont Investments LLC
(ii) State of Organization: Illinois
(iii) Principal Business: Investments
(iv) Principal Business and Office Address: 440 S. LaSalle Street,
Chicago, Illinois 60605
(v) Information required by clauses (d) an (e) of Item 2 or Schedule
13D: None.
The following information relates to DA:
(a) Name: Daniel Asher
(b) Business Address: 440 S. LaSalle Street, Suite 700, Chicago,
Illinois 60605
(c) Principal Occupation: Private Investor Manager of Oakmont
Investments, LLC
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CUSIP No.586999-40-1
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: United States
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On 07/31/00 PT purchased from the Company in a private placement 40,000
unregistered shares of Common Stock and a Warrant (exercisable for five years
from 07/31/00) to purchase an additional 40,000 shares. On 08/31/00 PT purchased
an additional 100,000 unregistered shares of Common Stock and a Warrant
(exercisable for five years from 08/31/00) to purchase an additional 100,000
shares. PT acquired the Common Stock and Warrants using working capital.
ITEM 4. PURPOSE OF TRANSACTION
For investment.
The Reporting Persons have no present plans or proposals that relate to
or would result in any of the matters set forth in clauses (a) through (j) which
would result in or relate to Item 4 of Schedule 13D.
The Company is obligated to file a registration statement with the
Securities and Exchange Commission in order to register the shares of Common
Stock purchased and the shares underlying the Warrant. The Reporting Persons are
not obligated to hold the shares following such registration and they may add to
their position or sell shares in open market transactions or otherwise.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of 08/31/00 the Reporting Persons beneficially owned the amounts
of Common Stock and Warrant to purchase Common Stock respectively set forth
below. The percentage set forth below represents the percentage of the
outstanding shares of Common Stock based on 3,404,346 shares outstanding as of
08/04/00 as set forth in the Company's Form 10Q for the quarter ended 06/30/00.
<TABLE>
<CAPTION>
Reporting Shares of Percent of
Person Common Stock Outstanding Common Stock
--------- ------------ ------------------------
<S> <C> <C>
PT, OI, DA 280,000(1) 8.2
</TABLE>
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1 Includes 140,000 shares of Common Stock and Warrants to purchase an
additional 140,000 shares exercisable within (sixty) 60 days.
(b) The information set forth in Items 7 through 11 of the cover pages
hereto is incorporated herein by reference.
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CUSIP No.586999-40-1
(c) The shares and warrants reported herein are the only transactions in
the Common Stock effected by the Reporting Persons during the past sixty (60)
days.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIP WITH RESPECT TO
THE SECURITIES OF THE ISSUER
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Agreement dated as of September 27, 2000 by and among the
signatories of this Statement on Schedule 13D with respect to
its filing.
SIGNATURE
After reasonable inquiry and to the best of his knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: September 26, 2000 PYRAMID TRADING LIMITED PARTNERSHIP
BY: OAKMONT INVESTMENTS, LLC
ITS: GENERAL PARTNER
BY: /S/ Daniel Asher
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Daniel Asher
Manager, Oakmont Investments, LLC
OAKMONT INVESTMENTS, LLC
BY: /S/ Daniel Asher
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Daniel Asher, Manager
/s/ Daniel Asher
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DANIEL ASHER
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CUSIP No.586999-40-1
EXHIBIT INDEX
EXHIBIT NO. DOCUMENT
1 Agreement, dated as of September 26, 2000 by and among the
signatories of this Statement with respect to its filing.
TYPE: EX-1
SEQUENCE: 2
DESCRIPTION: AGREEMENT DATED AS OF SEPTEMBER 26, 2000
