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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 25049
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.__ )*
IVC INDUSTRIES, INC.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
45070M101
(CUSIP Number)
Gary J. Knauer
American Claims Evaluation, Inc.
One Jericho Plaza
Jericho, New York 11753
(516) 938-8000
(Name, Address and Telephone Number of Person Authorized to Received Notices
and Communications)
December 13, 1999
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-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 ("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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SCHEDULE 13D
CUSIP No.45070M101
1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
American Claims Evaluation, Inc.
EIN #11-2601199
2) CHECK THE APPPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) / /
(b) / /
3) SEC USE ONLY
4) SOURCE OF FUNDS
WC
5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
NUMBER OF 7) SOLE VOTING POWER
SHARES 111,259
BENEFICIALLY
OWNDED BY 8) SHARED VOTING POWER
EACH None
REPORTING
PERSON WITH 9) SOLE DISPOSITIVE POWER
111,259
10) SHARED DISPOSITIVE POWER
None
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
111,259
12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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Item 1 Security and Issuer.
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This statement relates to the common stock, par value $.01 per
share (the "Common Stock"), of IVC Industries, Inc., a Delaware corporation (the
"Company"). The Company's principal executive offices are located at 500 Halls
Mill Road, Freehold, New Jersey 07728.
Item 2 Identity and Background.
-----------------------
(a)-(c) This statement is being filed by American Claims
Evaluation, Inc., a New York corporation ("American Claims").
The principal office of American Claims is One Jericho
Plaza, Jericho, New York 11753.
The business of the reporting person is the rendering of
services in the vocational rehabilitation of persons involved in worker's
compensation disabilities.
(d)-(e) During the last five years neither American Claims nor,
to the best of its knowledge, any person named in Schedule I hereto, has been
(i) convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which it or he was
or is 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.
(f) Each person named in Schedule I hereto is a United States
citizen.
Item 3 Source and Amount of Funds or Other Consideration.
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The source of all of the funds used was working capital of
American Claims. The amount of funds used by American Claims in making the
acquisitions was $539,767.25.
Item 4 Purpose of Transaction.
----------------------
American Claims purchased the shares of Common Stock for
investment and reserves the right to acquire additional shares of Common Stock
or dispose of any or all of its shares of Common Stock.
American Claims currently has no plans or proposals which relates
to or would result in (i) the acquisition by any person of additional securities
of the Company or the disposition of securities of the Company; (ii) an
extraordinary corporate transaction, such as a merger, reorganization or
liquidation involving the Company or any of its subsidiaries; (iii) a sale or
transfer of a material amount of assets of the Company or any of its
subsidiaries; (iv) any change in the present Board of Directors or management
of the Company, including any plans or proposals to change
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the number or term of directors or to fill any existing vacancies on the Board
of Directors of the Company; (v) any material change in the present
capitalization or dividend policy of the Company; (vi) any other material change
in the Company's business or corporate structure; (vii) changes in the Company's
charter, bylaws or other actions which may impede the acquisition of control of
the Company by any person; (viii) causing the Company's Common Stock to be
delisted from The Nasdaq SmallCap Market System, on which the Common Stock is
currently listed, or to cease to be authorized to be quoted in an inter-dealer
quotation system of a registered national securities association; (ix) a class
of equity securities of the Company becoming eligible for termination of
registration pursuant to Section 12(g)(4) of the Exchange Act; or (x) any action
similar to any of those enumerated above.
Item 5 Interest in Securities of the Issuer.
------------------------------------
(a) As of December 13, 1999, the aggregate number of the
Company's shares of Common Stock beneficially owned by American Claims is
111,259, constituting approximately 5.3% of the shares of Common Stock
outstanding, based upon the 2,088,092 shares of Common Stock reported by the
Company to be issued and outstanding.
(b) American Claims has sole power to vote or to direct the vote
and sole power to dispose or to direct the disposition of 111,259 shares of
Common Stock.
(c) Other than as described below, there were no transactions in
the Company's Common Stock effected by American Claims during the past sixty
days. All of the transactions set forth below were effected in the open market:
Type of
Transaction No. Of Shares Trade Date Price Per Share
- ----------- ------------- ---------- ---------------
Purchase 4,500 10/19/99 $4.750
Purchase 12,000 10/25/99 4.750
Purchase 3,800 10/29/99 4.905
Purchase 2,600 11/01/99 4.905
Purchase 2,599 11/08/99 4.905
Purchase 20,300 11/09/99 4.905
Purchase 5,100 11/15/99 4.908
Purchase 5,000 11/16/99 4.908
Purchase 10,000 11/19/99 4.843
Purchase 8,000 11/29/99 4.844
Purchase 18,000 12/02/99 4.843
Purchase 5,000 12/06/99 4.844
Purchase 14,360 12/13/99 4.844
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(d) Not applicable.
(e) Not applicable.
Item 6 Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
--------------------------------------------------------
Not applicable.
Item 7 Materials to be Filed as Exhibits.
---------------------------------
Not applicable.
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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.
Date: December 21, 1999 AMERICAN CLAIMS EVALUATION, INC.
By: /s/ Gary J. Knauer
---------------------------------------
Gary J. Knauer
Treasurer, Secretary and
Chief Financial Officer
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SCHEDULE 1
American Claims Directors and Executive Officers
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<TABLE>
<CAPTION>
Name and Residence or Business Address Principal Occupation or Employment
-------------------------------------- ----------------------------------
<S> <C>
Gary Gelman Chairman of the Board,
c/o American Claims Evaluation, Inc. President and
One Jericho Plaza Chief Executive Officer,
Jericho, New York 11753 American Claims
Gary J. Knauer Chief Financial Officer,
c/o American Claims Evaluation, Inc. Treasurer and Secretary,
One Jericho Plaza American Claims
Jericho, New York 11753
Edward M. Elkin, M.D. Physician, New York State
c/o American Claims Evaluation, Inc. Department of Health and
One Jericho Plaza Director, American Claims
Jericho, New York 11753
Peter Gutmann Professor of Economics and Finance,
c/o American Claims Evaluation, Inc. Baruch College, City University
One Jericho Plaza of New York and
Jericho, New York 11753 Director, American Claims
</TABLE>
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