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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Citadel Technology, Inc.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
172 889 107
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(CUSIP Number)
June 29, 1998
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(Date of Event Which Requires Filing of this 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 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).
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CUSIP No. 172 889 107
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Icarus Investments I, Ltd.
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(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
75-2761446
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(2) Check the Appropriate Box if a Member (a) / /
of a Group (See Instructions) (b) /X/
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
Texas
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Number of Shares (5) Sole Voting Power
Beneficially 3,000,000
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 0
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(7) Sole Dispositive Power
3,000,000
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(8) Shared Dispositive Power
0
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
3,000,000
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
12.03%
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(12) Type of Reporting Person (See Instructions)
PN
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CUSIP No. 172 889 107
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Michael Ruff
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(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) / /
of a Group (See Instructions) (b) /X/
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
USA
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Number of Shares (5) Sole Voting Power
Beneficially 115,000
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 0
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(7) Sole Dispositive Power
115,000
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(8) Shared Dispositive Power
0
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
115,000
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
0.5%
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(12) Type of Reporting Person (See Instructions)
IN
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ITEM 1.
(a) Name of Issuer
Citadel Technology, Inc.
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(b) Address of Issuer's Principal Executive Offices
3811 Turtle Creek Blvd., Suite 600, Dallas, TX 75219
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ITEM 2.
(a) Name of Person Filing
This schedule is filed on behalf of Icarus Investments I, Ltd.,
a Texas limited partnership, and Michael Ruff, a citizen of
the United States of America
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(b) Address of Principal Business Office or, if none, Residence
8144 Walnut Hill Lane, Suite 172, Dallas, TX 75231
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(c) Citizenship
See Item 2(a) above
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(d) Title of Class of Securities
Common Stock, par value $0.01 per share
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(e) CUSIP Number
172 889 107
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) / / Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) / / Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) / / Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) / / Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) / / An investment adviser in accordance with section
240.13d-1(b)(1)(ii)(E).
(f) / / An employee benefit plan or endowment fund in accordance with
section 240.13d-1(b)(1)(ii)(F).
(g) / / A parent holding company or control person in accordance with
section 240.13d-1(b)(1)(ii)(G).
(h) / / A savings association as defined in section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813).
(i) / / A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3).
(j) / / Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
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ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(i) Icarus Investments I, Ltd.
(a) Amount beneficially owned:
3,000,000
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(b) Percent of class:
12.03%
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(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
3,000,000
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(ii) Shared power to vote or to direct the vote
0
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(iii) Sole power to dispose or to direct the disposition of
3,000,000
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(iv) Shared power to dispose or to direct the disposition of
0
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(ii) Michael Ruff
(a) Amount beneficially owned:
115,000
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(b) Percent of class:
0.5%
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(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
115,000
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(ii) Shared power to vote or to direct the vote
0
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(iii) Sole power to dispose or to direct the disposition of
115,000
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(iv) Shared power to dispose or to direct the disposition of
0
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following. / /
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
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ITEM 10. CERTIFICATION
(b) The following certification shall be included if the statement is filed
pursuant to section 240.13d-1(c):
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.
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.
July 10, 1998
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Date
/s/ Michael Ruff
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Signature
Michael Ruff
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Name/Title
ICARUS INVESTMENTS I, LTD.
By: Icarus Investments, Inc.,
General Partner
By: /s/ Michael Ruff
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Michael Ruff, President
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EXHIBIT INDEX
Exhibit Description
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99.1 Agreement pursuant to Rule 13d.1(f)
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EXHIBIT 99.1
JOINT FILING AGREEMENT. Pursuant to Rule 13d-1(f) of Regulation 13D-G of the
General Rules and Regulations of the Securities and Exchange Commission under
the Securities and Exchange Act of 1934, as amended, the undersigned agrees
that the statement to which this Exhibit is attached is filed on behalf of
each of them in the capacities set forth below.
Dated: July 10, 1998
/s/ Michael Ruff
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Signature
Michael Ruff
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Name/Title
ICARUS INVESTMENTS I, LTD.
By: Icarus Investments, Inc.,
General Partner
By: /s/ Michael Ruff
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Michael Ruff, President
