UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Payless Cashways, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
704-378-405
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(CUSIP Number)
Millard E. Barron, President
Payless Cashways, Inc.
800 NW Chipman Road, Suite 5900
Lee's Summit, Missouri 64064-8001
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
July 3, 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(b)(3) or (4), check the following
box ___.
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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).
<PAGE>
CUSIP NO. 704378405
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1) Names of Reporting Persons S.S. or IRS Identification Nos. of Above
Person ###-##-####
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Source of Funds (See Instructions) PF
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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6) Citizenship or Place of Organization United States
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Number of (7) Sole Voting Power 1,000,000
Shares Bene- ---------------
ficially (8) Shared Voting Power 0
Owned by ---------------
Each (9) Sole Dispositive Power 1,000,000
Reporting ---------------
Person (10) Shared Dispositive Power 0
With ---------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000
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12) Check 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) 5.0%
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14) Type of Reporting Person (See Instructions) IN
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<PAGE>
Item 1. Security and Issuer.
The class of equity securities to which this Schedule 13D relates is the
shares of common stock $.01 par value per share (the "Shares") of Payless
Cashways, Inc. (the "Company"). The principal executive office of the Company
is located at 800 NW Chipman Road, Suite 5900, Lee's Summit, Missouri
64064-8001.
Item 2. Identity and Background.
This statement is being filed by Maurice A. Halperin. My business address is
17890 Deauville Lane, Boca Raton, FL 33496. I am a private investor. During
the last five years, I have not been convicted in a criminal proceeding
(excluding traffic violations or other similar misdemeanors) and I have not
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in my being subject to a 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. I am a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
The source of the funds for the purchase of the shares was my personal funds.
The total amount of money used to purchase the Shares was $2,265,500.
Item 4. Purpose of Transaction.
The purpose for the acquisition of the Shares is investment.
Item 5. Interest in Securities of the Issuer.
The event that requires filing of this Schedule 13D is my beneficial
ownership of 5% of the Company's outstanding common stock, which occurred on
July 3, 2000. As of July 3, 2000, I own beneficially 1,000,000 Shares or 5%
of the Company's outstanding common stock. I have the sole power to vote and
dispose of the Shares. There is no shared power to vote or dispose of the
Shares I own.
During the period from May 6, 2000 to July 5, 2000, I acquired 31,000 Shares
in 5 open market transactions and sold 25,000 Shares in one open market
transaction. The transactions were made on the OTC Bulletin Board operated by
the National Association of Securities Dealers, Inc. and were made on my
behalf by CIBC Oppenheimer Corporation, a securities broker dealer.
The table below lists the transaction date for each of the purchases, number
of shares purchased, price per share and total purchase price.
<TABLE>
<CAPTION>
Transaction Number of Shares
Date Purchased Price Per Share Net Purchase Price
<S> <C> <C> <C>
05/11/2000 15,000 1.75 27,540.10
07/03/2000 3,000 1.531 4,632.60
07/03/2000 7,000 1.531 10,718.75
07/03/2000 5,000 1.531 7,656.25
07/05/2000 1,000 1.594 1,632.60
</TABLE>
On May 17, 2000, I sold 25,000 Shares at $1.719 per share, for a net amount
of $42,928.46.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
Not applicable.
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 accurate.
DATE: July 7, 2000
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/S/ Maurice A. Halperin
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Signature
Maurice A. Halperin
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Name and Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative (other than an
executive officer or general partner of this filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed
with the statement, provided, however, that a power of attorney for this
purpose which is already on file with the Commission may be incorporated by
reference. The name and any title of each person who signs the statement
shall be typed or printed beneath his signature.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).
