UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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)
(Amendment No. 7 )*
nStor Technologies, Inc.
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(Name of Issuer)
Common Stock, $.05 par value
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(Title of Class of Securities)
67018N 10 8
(CUSIP Number)
Mr. H. Irwin Levy
nStor Technologies, Inc.
100 Century Boulevard
West Palm Beach, Florida 33417
(561) 641-3100
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 16, 1999
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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 statement 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 (the "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>
SCHEDULE 13D
CUSIP No. 67018N 10 8 Page 2 of 6 Pages
1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOs. OF ABOVE PERSONS
H. Irwin Levy
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) __
(b) x
3. SEC USE ONLY
4. SOURCE OF FUNDS
PF
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) __
6. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
Number of 7. SOLE VOTING POWER
Shares 7,678,561
Beneficially
Owned by 8. SHARED VOTING POWER
Each
Reporting 9. SOLE DISPOSITIVE POWER
Person 7,678,561
With
10. SHARED DISPOSITIVE POWER
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,678,561
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES __
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.4%
14. TYPE OF REPORTING PERSON
IN
<PAGE>
SCHEDULE 13D
Page 3 of 6 Pages
Item 1. Security and Issuer.
This Statement on Schedule 13D relates to the shares of Common Stock, par value
$.05 per share (the "Common Stock"), of nStor Technologies, Inc., a Delaware
corporation (the "Company"). The principal executive offices of the Company are
located at 100 Century Boulevard, West Palm Beach, Florida 33417.
Item 2. Identity and Background.
Item 2 is hereby amended by deleting the text in its entirety and substituting
in its place the following:
(a) Name: H. Irwin Levy
(b) Business address: 100 Century Boulevard
West Palm Beach, Florida 33417
(c) Present principal occupation:
Mr. Levy is a private investor. He currently serves as the Chairman of the Board
of Directors of the Company and several other corporations including MLL Corp.
(through which he beneficially owns 335,897 shares of the Company's Common
Stock) and Hilcoast Development Corp. (through which he beneficially owns
550,000 shares of the Company's Common Stock).
(d) Criminal Proceedings:
During the past five (5) years, Mr. Levy has not been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
(e) Civil Proceedings:
During the past five (5) years, Mr. Levy has not been a party to any civil
proceeding of a judicial or administrative body of competent jurisdiction which
resulted in his being subject to any judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.
(f) Citizenship: U.S.A.
Item 3. Source and Amount of Funds or Other Consideration.
The stock issued to Mr. Levy as described in Item 5 ( c ) was issued to Mr. Levy
and MLL Corp. in exchange for loans made to the Company.
<PAGE>
Item 4. Purpose of Transaction.
Purpose of the acquisition of the securities of the Company: Investment
(a) The reporting person has no specific plan or proposal to acquire
additional securities of the Company or to dispose of any securities of the
Company. However, as an investor, the reporting person reviews from time to time
the performance of all of his investments, including, but not limited to the
securities of the Company and may in the future acquire or dispose of additional
securities of the Company.
(b) None.
(c) None.
(d) None.
(e) None.
(f) None.
(g) None.
(h) None.
(i) None.
(j) None.
Item 5. Interest in Securities of the Issuer.
This Amendment to Schedule 13D reflects a change in the number of shares and the
percentage interest represented thereby of the Company's Common Stock held by
the reporting person as a result of the transactions described in 5(c) below.
(a) Mr. Levy is currently the beneficial owner of 7,678,561 shares of the
Company's Common Stock representing 25.4% of the Company's Common Stock. Of
these, (i) 3,607,664 shares are held directly by Mr. Levy; (ii) 335,897
shares are held by MLL Corp., a Florida corporation, of which Mr. Levy is
the majority shareholder ("MLL"); (iii) 65,000 shares are issuable upon the
conversion of currently exercisable warrants held by Mr. Levy; (iv) 50,000
shares are issuable upon the exercise of currently exercisable warrants
held by Hilcoast Development Corp., a Delaware corporation, of which Mr.
Levy is the majority shareholder ("Hilcoast"); (v) 120,000 shares are
issuable upon the exercise of currently exercisable stock options held by
Mr. Levy; (vi) 3,000,000 shares are issuable upon the conversion of
currently outstanding shares of the Company's Series C Convertible
Preferred Stock held by Mr. Levy and (vii) 500,000 shares of Common Stock
are issuable upon the conversion of currently outstanding shares of the
Company's Series E Convertible Preferred Stock held by Hilcoast.
(b) Mr. Levy has sole dispositive and voting power over 7,678,561 shares of the
Company's Common Stock. Mr. Levy has shared dispositive and voting power
over 0 shares of the Company's Common Stock. (c) Since the most recent
filing on Schedule 13D made by Mr. Levy on September 16, 1999, Mr. Levy has
effected the following transactions involving the Company's Common Stock:
(i) On December 9, 1999, Mr. Levy gifted 250,000 shares of the
Company's Common Stock to a public charity. This transaction was
reported on Mr. Levy's Form 4 for December 1999.
(ii) On December 16, 1999, the Company retired notes payable by the
Company to Mr. Levy and MLL by issuing 169,231 shares of the Company's
Common Stock to each of Mr. Levy and MLL. These transactions were
reported on Mr. Levy's Form 4 for December 1999.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
None.
Item 7. Material to be Filed as Exhibits
None.
<PAGE>
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 12 , 2000
__________________
/s/ H. Irwin Levy
____________________
H. Irwin Levy
