<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
AMBI INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock (including upon conversion of Series E and F Preferred Stock
and upon conversion of specified Warrants)
- --------------------------------------------------------------------------------
(Title of Class of Securities)
00163N 10 2
--------------------------------
(CUSIP Number)
January 27, 1999
------------------------------------------------------
Date of Event Which Requires Filing of the Statement
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
*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 1 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G PAGE 2 of 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name Citadel Limited Partnership
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Illinois Limited Partnership
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 78,166 Shares of Common Stock**
1,500 Shares of Series E Preferred Stock (convertible
OWNED BY into 1,200,000 shares of Common Stock)
575 Shares of Series F Preferred Stock (convertible
EACH into 460,000 Shares of Common Stock)
192,842 Shares of Common Stock (upon exercise of
REPORTING warrant rights for 192,842 shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10
CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 Up to 6.3% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN;HC
- ------------------------------------------------------------------------------
**Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 2 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G Page 3 of 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name GLB Partners, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware Limited Partnership
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 78,166 Shares of Common Stock**
1,500 Shares of Series E Preferred Stock (convertible
OWNED BY into 1,200,000 Shares of Common Stock)
575 Shares of Series F Preferred Stock (convertible
EACH into 460,000 Shares of Common Stock)
192,842 Shares of Common Stock (upon exercise of
REPORTING warrant rights for 192,842 shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 Up to 6.3% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in Item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN;HC
- ------------------------------------------------------------------------------
**Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 3 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G PAGE 4 OF 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name Citadel Investment Group, L.L.C.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware Limited Liability Company
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 78,166 Shares of Common Stock**
1,500 Shares of Series E Preferred Stock (convertible
OWNED BY into 1,200,000 shares of Common Stock)
575 Shares of Series F Preferred Stock (convertible
EACH into 460,000 Shares of Common Stock)
192,842 Shares of Common Stock (upon exercise of
REPORTING warrant rights for 192,842 shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10
CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 Up to 6.3% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
OO; HC
- ------------------------------------------------------------------------------
**Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 4 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G PAGE 5 OF 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name Kenneth Griffin
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
U.S. Citizen
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 78,166 Shares of Common Stock**
1,500 Shares of Series E Preferred Stock (convertible
OWNED BY into 1,200,000 shares of Common Stock)
575 Shares of Series F Preferred Stock (convertible
EACH into 460,000 Shares of Common Stock)
192,842 Shares of Common Stock (upon exercise of
REPORTING warrant rights for 192,842 shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10
CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 Up to 6.3% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
IN
- ------------------------------------------------------------------------------
**Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 5 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G Page 6 of 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name Wellington Partners Limited Partnership
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Illinois Limited Partnership
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 39,083 Shares of Common Stock**
1,122 Shares of Series E Preferred Stock (convertible
OWNED BY into 897,600 Shares of Common Stock)
287.5 Shares of Series F Preferred Stock (convertible
EACH into 230,000 Shares of Common Stock)
96,421 Shares of Common Stock (upon exercise of
REPORTING warrant rights for 96,421 shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 Up to 4.2% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN;HC
- ------------------------------------------------------------------------------
**Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 6 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G PAGE 7 OF 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name NP Partners (f/k/a Nelson Partners)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda General Partnership
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 39,083 Shares of Common Stock**
1,122 Shares of Series E Preferred Stock (convertible
OWNED BY into 897,600 shares of Common Stock
287.5 Shares of Series F Preferred Stock (convertible
EACH into 230,000 Shares of Common Stock)
96,421 Shares of Common Stock (upon exercise of
REPORTING warrant rights for 96,421 shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 Up to 4.2% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN
- ------------------------------------------------------------------------------
**Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 7 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G PAGE 8 OF 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name Kensington Global Strategies Fund, Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda Company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 39,083 Shares of Common Stock**
378 Shares of Series E Preferred Stock (convertible
OWNED BY into 302,400 shares of Common Stock
287.5 Shares of Series F Preferred Stock (convertible
EACH into 230,000 Shares of Common Stock)
96,421 Shares of Common Stock (upon exercise of
REPORTING warrant rights to 96,421 Shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 Up to 2.3% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
CO
- ------------------------------------------------------------------------------
** Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 8 of 20 Pages
<PAGE>
CUSIP NO. 00163N-10-2 13G PAGE 9 OF 20 Pages
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Name Olympus Securities, Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda Corporation
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY 39,083 Shares of Common Stock**
378 Shares of Series E Preferred Stock (convertible
OWNED BY into 302,400 shares of Common Stock
287.5 Shares of Series F Preferred Stock (convertible
EACH into 230,000 Shares of Common Stock)
96,421 Shares of Common Stock (upon exercise of
REPORTING warrant rights for 96,421 shares)
PERSON -----------------------------------------------------------
SOLE DISPOSITIVE POWER
WITH 7
0
-----------------------------------------------------------
SHARED DISPOSITIVE POWER
8
See Item 6 above.
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Item 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11 Up to 2.3% as of the date of filing of this statement. (Based on
28,780,006 Shares of Common Stock issued and outstanding as of February
3, 1999, plus the Common Stock issuable upon the conversion of the
preferred stock and exercise of the warrants referred to in item 6 above.)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
CO
- ------------------------------------------------------------------------------
** Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
Page 9 of 20 Pages
<PAGE>
Cusip No. 00163N-10-2 13G Page 10 of 20 Pages
SCHEDULE 13G
------------
Item 1(a) Name of Issuer: AMBI Inc.
1(b) Address of Issuer's Principal Executive Offices:
4 Manhattanville Road
Purchase, New York 10577
Item 2(a) Name of Person Filing
Item 2(b) Address of Principal Business Office
Item 2(c) Citizenship
Citadel Limited Partnership
225 W. Washington
9th Floor
Chicago, Illinois 60604
Illinois Limited Partnership
GLB Partners, L.P.
225 W. Washington
9th Floor
Chicago, Illinois 60604
Delaware Limited Partnership
Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60604
Delaware Limited Liability Company
Kenneth Griffin
225 W. Washington
9th Floor
Chicago, Illinois 60604
U.S. Citizen
Page 10 of 20 Pages
<PAGE>
- --------------------- -------------------
CUSPI NO. 00163N-10-2 13G Page 11 of 20 Pages
- --------------------- -------------------
Wellington Partners Limited Partnership
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60604
Illinois limited partnership
NP Partners
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60604
Bermuda general partnership
Kensington Global Strategies Fund, Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60604
Bermuda company
Olympus Securities, Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60604
Bermuda corporation
2(d) Title of Class of Securities:
Common Stock, par value $.005 per share (including common stock
receivable upon conversion of Series E and Series F Preferred
Stock and upon exercise of warrants)
2(e) CUSIP Number: 00163N-10-2
Item 3 If this statement if filed pursuant to Rules 13d-1(b), or 13d-2(b):
Not applicable.
Page 11 of 20 Pages
<PAGE>
- --------------------- -------------------
CUSIP NO. 00163N-10-2 13G Page 12 of 20 Pages
- --------------------- -------------------
Item 4 Ownership:
CITADEL LIMITED PARTNERSHIP
(a) Amount beneficially owned:
78,166 Shares of Common Stock
1,500 Shares of Series E Preferred Stock (convertible into 1,200,000
shares of Common Stock)
575 Shares of Series F Preferred Stock (convertible into 460,000 Shares of
Common Stock)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
(b) Percent of Class:
Up to 6.3% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
Page 12 of 20 Pages
<PAGE>
- --------------------- -------------------
CUSIP NO. 00163N-10-2 13G Page 13 of 20 Pages
- --------------------- -------------------
GLB PARTNERS, L.P.
(a) Amount beneficially owned:
78,166 Shares of Common Stock
1,500 Shares of Series E Preferred Stock (convertible into 1,200,000 shares of
Common Stock)
575 Shares of Series F Preferred Stock (convertible into 460,000 Shares of
Common Stock)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
(b) Percent of Class:
Up to 6.3% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
CITADEL INVESTMENT GROUP, L.L.C.
(a) Amount beneficially owned:
78,166 Shares of Common Stock
1,500 Shares of Series E Preferred Stock (convertible into 1,200,000 shares of
Common Stock)
575 Shares of Series F Preferred Stock (convertible into 460,000 Shares of
Common Stock)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
Page 13 of 20 Pages
<PAGE>
- --------------------- -------------------
CUSIP NO. 00163N-10-2 13G Page 14 of 20 Pages
- --------------------- -------------------
(b) Percent of Class:
Up to 6.3% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
KENNETH GRIFFIN
(a) Amount beneficially owned:
78,166 Shares of Common Stock
1,500 Shares of Series E Preferred Stock (convertible into 1,200,000 shares of
Common Stock)
575 Shares of Series F Preferred Stock (convertible into 460,000 Shares of
Common Stock)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
(b) Percent of Class:
Up to 6.3% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
Page 14 of 20 Pages
<PAGE>
--------------------- -------------------
CUSIP NO. 00163N-10-2 13G Page 15 of 20 Pages
--------------------- -------------------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
WELLINGTON PARTNERS LIMITED PARTNERSHIP
(a) Amount beneficially owned:
39,083 Shares of Common Stock
1,122 Shares of Series E Preferred Stock (convertible into 897,600 Shares
of Common Stock)
287.5 Shares of Series F Preferred Stock (convertible into 230,000 Shares of
Common Stock)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 4.2% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
Page 15 of 20 Pages
<PAGE>
--------------------- -------------------
CUSIP NO. 00163N-10-2 13-G Page 16 of 20 Pages
--------------------- -------------------
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
NP PARTNERS
(a) Amount beneficially owned:
39,083 Shares of Common Stock
1,122 Shares of Series E Preferred Stock (convertible into 897,600 Shares of
Common Stock)
287.5 Shares of Series F Preferred Stock (convertible into 230,000 Shares of
Common Stock)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 4.2% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
Page 16 of 20 Pages
<PAGE>
- ------------------------- -----------------------
CUSIP NO. 00163N-10-2 13G Page 17 of 20 Pages
- ------------------------- -----------------------
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
KENSINGTON GLOBAL STRATEGIES FUND, LTD.
(a) Amount beneficially owned:
39,083 Shares of Common Stock
378 Shares of Series E Preferred Stock (convertible into 302,400 Shares of
Common Stock)
287.5 Shares of Series F Preferred Stock (convertible into 230,000 Shares of
Common Stock)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 2.3% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999 plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
Page 17 of 20 Pages
<PAGE>
- ------------------------- -----------------------
CUSIP NO. 00163N-10-2 13G Page 18 of 20 Pages
- ------------------------- -----------------------
OLYMPUS SECURITIES, LTD.
(a) Amount beneficially owned:
39,083 Shares of Common Stock
378 Shares of Series E Preferred Stock (convertible into 302,400 Shares of
Common Stock)
287.5 Shares of Series F Preferred Stock (convertible into 230,000 Shares
of Common Stock)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 2.3% as of the date of filing of this statement. (Based on 28,780,006
Shares of Common Stock issued and outstanding as of February 3, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and exercise of
the warrants referred to in item (a) above.)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See item (a) above.
** Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer.
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:
Not Applicable.
Item 7 Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on by the Parent Holding Company:
See Item 2 above.
Page 18 of 20 Pages
<PAGE>
- ------------------------- -----------------------
Cusip No. 00163N-10-2 13G Page 19 of 20 Pages
- ------------------------- -----------------------
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 not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Page 19 of 20 Pages
<PAGE>
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated this 4th day of February, 1999
/s/ Kenneth Griffin
-------------------
Kenneth Griffin
CITADEL LIMITED PARTNERSHIP CITADEL INVESTMENT GROUP, L.L.C.
By: GLB Partners, L.P.,
its General Partner
By: Citadel Investment Group,
L.L.C., its General Partner
By: /s/ Kenneth Griffin By: /s/ Kenneth Griffin
Kenneth Griffin, President President
GLB PARTNERS, L.P. NP PARTNERS
By: Citadel Investment Group, By: Citadel Limited Partnership,
L.L.C., its General Partner its Managing General Partner
By: /s/ Kenneth Griffin By: GLB Partners, L.P., its General
Kenneth Griffin, President Partner
By: Citadel Investment Group, L.L.C.,
its General Partner
By: /s/ Kenneth Griffin
Kenneth Griffin, President
WELLINGTON PARTNERS LIMITED OLYMPUS SECURITIES, LTD.
PARTNERSHIP
By: Citadel Limited Partnership, By: Citadel Limited Partnership,
its General Partner its Trading Manager
By: GLB Partners, L.P., By: GLB Partners, L.P., its General
its General Partner Partner
By: Citadel Investment Group, By: Citadel Investment Group, L.L.C.,
L.L.C., its General Partner its General Partner
By: /s/ Kenneth Griffin By: /s/ Kenneth Griffin
Kenneth Griffin, President Kenneth Griffin, President
KENSINGTON GLOBAL STRATEGIES
FUND, LTD.
By: Citadel Limited Partnership,
its Trading Manager
By: GLB Partners, L.P., its General
Partner
By: Citadel Investment Group, L.L.C.,
its General Partner
By: /s/ Kenneth Griffin
Kenneth Griffin, President
Page 20 of 20 Pages
