UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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. 1)*
nSTor Technologies, Inc.
(Name of Issuer)
Common Stock, $.05 par value
(Title of Class of Securities)
67018N 10 8
(CUSIP Number)
Herbert Gimelstob, 2300 N.W. Corporate Blvd., Suite 222, Boca Raton, FL 33431
(561) 997-8880
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
February 8 , 2000
(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
HERBERT GIMELSTOB
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)__
(b)__
3. SEC USE ONLY
4. SOURCE OF FUNDS
N/A
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 1,727,320
Beneficially
Owned by 8. SHARED VOTING POWER
Each -0-
Reporting
Person 9. SOLE DISPOSITIVE POWER
With 1,727,320
10. SHARED DISPOSITIVE POWER
-0-
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,727,320
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES __
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
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 10140
Mesa Rim Road, San Diego, California 92121.
Item 2. Identity and Background.
a. Name: Herbert Gimelstob
b. Business address: 2300 N. W. Corporate Blvd., Suite 222,
Boca Raton, Florida 33431
c. Present principal occupation: Real Estate Developer / Investor
Name and address of corporation business is primarily conducted
through: Gimelstob Enterprises, Inc., 2300 N. W. Corporate Blvd.,
Suite 222, Boca Raton, Florida, 33431
d. Convictions within the last five years: None
e. Proceedings and judgments/decrees/orders within the last five years:
None
f. Citizenship: U.S.A.
Item 3. Source and Amount of Funds or Other Consideration.
Source of funds: N/A
Amount of funds: N/A
Item 4. Purpose of Transaction.
Purpose of disposition of securities of the issuer:
Realize investment gain
a. On December 16, 1999, pursuant to a Subscription Agreement of that
date, reporting person was issued 626,154 shares of the Common Stock
by the Company in exchange for the cancellation of promissory notes
previously executed by the Company in favor of reporting person
having a total outstanding principal balance of $1,850,000.00.
Pursuant to the Subscription Agreement, the Company has agreed to
guarantee reporting person against loss through the close of business
on the twentieth (20th) trading day after the effective date of
the Registration Statement registering said shares or some later date
as agreed to by the parties. The shares sold which caused the filing
of this Amendment were part of said 626,154 shares. Reporting person
plans to dispose of some or all of the balance of said 626,154 shares
of Common Stock within the above described guarantee period. Moreover,
as an investor, 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 additional
securities of the Company or dispose of some of the securities of the
Company.
b. None
c. None
d. None
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SCHEDULE D
Page 3 of 6 Pages
e. None
f. None
g. None
h. None
i. None
j. None
Item 5. Interest in Securities of the Issuer.
a. Aggregate number of the class of securities beneficially owned:
1,727,320
Percentage of the class of securities beneficially owned: 6.1%
b. Reporting person has the sole power to vote or direct the vote, and
to dispose or direct the disposition, of all of the 1,727,320 shares
beneficially owned.
c. Transactions within the past sixty days are as follows:
1. On December 8, 1999, Herbert Gimelstob sold 141,800 shares of
the Common Stock on the open market through his broker, Fidelity
Investments, for $3.125 per share.
2. On December 16, 1999, pursuant to a Subscription Agreement of
that date, Herbert Gimelstob was issued 626,154 shares of the Common
Stock by the Company in exchange for the cancellation of promissory
notes previously executed by the Company in favor of Herbert
Gimelstob having a total outstanding principal balance of
$1,850,000.00. The exchange price was $2.95 per share.
3. On January 19, 2000, Herbert Gimelstob sold 35,000 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $4.00 per share.
4. On Janauary 21, 2000, Herbert Gimelstob sold 35,000 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $4.50 per share.
5. On January 24, 2000, Herbert Gimelstob charitably gifted 100,000
shares of the Common Stock to The Herbert Gimelstob Fmaily
Charitable Foundation, Inc., EIN 65-0797667.
6. On January 24, 2000, Herbert Gimelstob sold 35,000 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $6.25 per share.
7. On January 24, 2000, Herbert Gimelstob sold 35,000 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $5.75 per share.
8. On January 24, 2000, Herbert Gimelstob sold 35,000 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $5.00 per share.
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SCHEDULE 13D
Page 5 of 6 Pages
9. On January 27, 2000, Herbert Gimelstob sold 16,667 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $5.00 per share.
10. On January 28, 2000, Herbert Gimelstob sold 70,000 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $5.00 per share.
11. On January 28, 2000, Herbert Gimelstob sold 55,000 shares of the
Common Stock on the open market through his broker, Fidelity Invest-
ments, for $5.00 per share.
12. On February 8, 2000, Herbert Gimelstob sold 113,500 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $4.50 per share. (Event triggering reporting requirement).
13. On February 10, 2000, Herbert Gimelstob sold 13,000 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $4.50 per share.
14. On February 11, 2000, Herbert Gimelstob sold 3,000 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $4.25 per share.
15. On February 14, 2000, Herbert Gimelstob sold 155,900 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $4.0012 per share.
16. On February 15, 2000, Herbert Gimelstob sold 6,000 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $4.00 per share.
17. On February 16, 2000, Herbert Gimelstob sold 17,500 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $3.75 per share.
18. On February 17, 2000, Herbert Gimelstob sold 50,000 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $3.5625 per share.
19. On February 18, 2000, Herbert Gimelstob sold 100,000 shares of
the Common Stock on the open market through his broker, Comerica
Bank, for $3.7863 per share.
20. On February 18, 2000, Herbert Gimelstob sold 6,600 shares of the
Common Stock on the open market through his broker, Comerica Bank,
for $3.9602 per share.
d. Other persons with rights in the securities: None.
e. The date on which the reporting person ceased to be the beneficial
owner of more than five percent of the class of securities:
Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
None.
<PAGE>
SCHEDULE 13D
Page 6 of 6 Pages
Item 7. Material to be Filed as Exhibits: None.
Exhibit No.: N/A
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: February 22, 2000
/S/Herbert Gimelstob
_____________________
Herbert Gimelstob
