UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.1)*
INTRENET, INC.
- -------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, NO PAR VALUE
- -------------------------------------------------------------------------------
(Title of Class of Securities)
461190100
-------------------------------------------------
(CUSIP Number)
Francisco A. Garcia
Neptune Management Company, Inc.
881 Ocean Drive, #20-F
Key Biscayne, Florida 33149
(305) 361-3189
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
April 3, 1995
----------------------------------------------------
(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 / /. Check
the following box if a fee is paid with the statement / /. (A fee is not
required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See rule 13d-7.) 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 page shall not be deemed to be "filed" for the
purpose of section 18 of the securities exchange act ("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. 461190100 PAGE 2 OF 14 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE PARTNERS, L.P.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ x ]
(b) [ ]
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3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 318,590
-----------------------------------------------------------------
8 SHARED VOTING POWER
EACH
REPORTING -0-
-----------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
318,590
-----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
318,590
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
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14 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 461190100 PAGE 3 OF 14 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE II INVESTORS LIMITED
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ x ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 175,513
-----------------------------------------------------------------
8 SHARED VOTING POWER
EACH
REPORTING -0-
-----------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
175,513
-----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
175,513
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 461190100 PAGE 4 OF 14 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE PARTNERS-1989A, L.P.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ x ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 63,739
-----------------------------------------------------------------
8 SHARED VOTING POWER
EACH
REPORTING -0-
-----------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
63,739
-----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
63,739
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 461190100 PAGE 5 OF 14 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE 1989 INVESTORS LIMITED
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ x ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 41,280
-----------------------------------------------------------------
8 SHARED VOTING POWER
EACH
REPORTING -0-
-----------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
41,280
-------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
41,280
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 461190100 PAGE 6 OF 14 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NEPTUNE 1989C OFFSHORE INVESTORS LIMITED
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ x ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 27,762
-----------------------------------------------------------------
8 SHARED VOTING POWER
EACH
REPORTING -0-
-----------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
27,762
-------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
27,762
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 461190100 PAGE 7 OF 14 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FRANCISCO A. GARCIA
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ x ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Spain
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
-----------------------------------------------------------------
8 SHARED VOTING POWER
EACH
REPORTING 626,884
-----------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
-------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
626,884
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
626,884
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
4.7 %
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 461190100 PAGE 8 OF 14 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
A. TORREY READE
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ x ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
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.
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
-----------------------------------------------------------------
8 SHARED VOTING POWER
EACH
REPORTING 626,884
-----------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
626,884
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
626,884
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7 %
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
PAGE 9 OF 14 PAGES
This filing, being made jointly on behalf of the Reporting Persons (see Item 2),
constitutes Amendment No. 1 to an initial statement (the "Initial Statement") on
Schedule 13D dated January 25, 1991 filed on behalf of the Reporting Persons.
This Amendment No. 1 amends and restates the Initial Statement pursuant to Rule
13d-2(c) of the Securities Exchange Act of 1934. This Amendment No. 1 to the
Initial Statement, which shall be the final amendment to the Initial Statement,
is being filed to report that, as a result of additional issuances of Common
Shares by the Issuer (see Item 1), each of the Reporting Persons individually,
and all of them in the aggregate, have ceased to be the beneficial owner of more
than 5% of the Issuer's Common Shares.
ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D, as amended and restated, filed on behalf of the
Reporting Persons described in Item 2, relates to the common stock, without par
value (the "Common Shares") of Intrenet, Inc. (the "Issuer"), 400 Technecenter
Drive, Suite 200, Milford, Ohio 45150.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed jointly by Neptune Partners, L.P. ("Partners"),
Neptune II Investors Limited ("NII"), Neptune Partners-1989A, L.P. ("N1989A"),
Neptune 1989 Investors Limited ("N1989"), Neptune 1989C Offshore Investors
Limited ("N1989C"), Francisco A. Garcia ("Garcia") and A. Torrey Reade ("Reade")
(collectively, the "Reporting Persons"; Reporting Persons other than Garcia and
Reade are referred to as the "Fund Reporting Persons"). The Reporting Persons
have determined to file jointly by virtue of certain relationships. Each of the
Fund Reporting Persons is an investment vehicle in liquidation managed directly
by, or by entities under the joint control of, Garcia and Reade. In addition,
certain of the Fund Reporting Persons have common investors and/or liquidators.
As a result of their common investment management, the Reporting Persons may,
when appropriate, coordinate their activities in holding, voting or disposing of
Common Shares; however, the Reporting Persons have not agreed to such
coordination and reserve the right to act independently. Following are (a) the
name, place of organization and a business address of each Fund Reporting Person
and of each general partner, investment manager, liquidator or other controlling
person of such Fund Reporting Person which is not a natural person; and (b) the
name, business address, present principal occupation and citizenship of each of
Garcia and Reade as the controlling persons of each Fund Reporting Person who
are natural persons. The principal business of each of the Fund Reporting
Persons is investment in the securities and obligations of
financially-distressed companies. Each Fund Reporting Person is in its
liquidation phase.
1. (a) Neptune Partners, L.P.
(b) Neptune Partners-1989A, L.P.
c/o Nereid, Inc.
723 Harmersville-Canton Road
Salem, New Jersey 08079
Partners and N1989A are limited partnerships organized under the laws of the
State of Delaware. Partners' general partners are Garcia and Reade. N1989A is
filing on behalf of itself and as agent for certain of its former limited
partners whose interests remain under common investment management with N1989A
and who are entitled to a portion of the Common Shares or proceeds therefrom as
a result of their investment in N1989A. N1989A's general partner is Neptune
Management Partners, L.P. ("NMP"), a Delaware limited partnership having the
same address as its general partner Neptune Management Company, Inc. ("NMC"),
engaged in investment management. NMC, a Florida corporation engaged in
investment management having its address at 881 Ocean Drive, Suite #20-F, Key
Biscayne, Florida 3314, is the sole general partner of NMP. Reade and Garcia are
the sole shareholders, directors and officers of NMC.
<PAGE>
PAGE 10 OF 14 PAGES
2. (a) Neptune II Investors Limited
(b) Neptune 1989 Investors Limited
(c) Neptune 1989C Offshore Investors Limited
c/o CITCO, CITCO Building
Wickhams Cay
Post Office Box 662
Road Town, Tortola
British Virgin Islands
NII, N1989 and N1989C are British Virgin Islands International Business
Companies under the supervision of BVI Corporation Company Limited ("BCCL"), a
British Virgin Islands company having the same address as said companies, as
Liquidator. BCCL and its parent CITCO B.V.I. Limited, a British Virgin Islands
company, are engaged in the administration of companies in the British Virgin
Islands. As controlling persons of and successors to NII's and N1989's original
investment manager, Garcia and Reade (through NMC) control the management of
such Fund Reporting Persons' investments. NMP, also controlled by Garcia and
Reade, acts as investment manager for N1989C.
3. (a) Francisco A. Garcia
Neptune Management Company, Inc.
881 Ocean Drive, Suite #20-F
Key Biscayne, FL 33149
(b) A. Torrey Reade
Nereid, Inc.
723 Harmersville-Canton Road
Salem, New Jersey 08079
Garcia is the Chairman of the Board and Reade is the President of NMC.
Reade and Garcia are the sole shareholders, directors and officers of NMC, and
their activities in that company and other investment management activities
conducted directly by Garcia or Reade or through companies wholly-owned by
Garcia or Reade, as the case may be, constitute their principal occupations.
Reade is also a director of the Issuer. Reade is a United States citizen. Garcia
is a citizen of Spain. To the best of the Reporting Persons' knowledge, none of
the persons or entities listed in Item 2 hereof has been convicted in a criminal
proceeding (excluding traffic violations and similar misdemeanors) during the
last five years, and none of said persons or entities, during the last five
years, has been a party to any civil proceeding resulting in a judgment, decree
or final order enjoining future violations of, prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The securities to which this statement relates were distributed to the Fund
Reporting Persons by virtue of their holdings of 13 1/2% Senior Subordinated
Debentures Due 1997 (the "Debentures") of Circle Express, Inc., the Issuer's
predecessor, under a plan of reorganization of said company which became
effective on January 15, 1991 (the "Plan"). The Plan and exhibits thereto are
incorporated herein by reference and all summaries of provisions thereof herein
are qualified in their entirety by the Plan and such exhibits. The Fund
Reporting Persons acquired the Debentures at various times in the past with
funds from their respective working capital. Such working capital was derived
from capital contributions by investors in the Fund Reporting Persons and, in
some instances, earnings thereon. Such capital contributions were made for the
purpose of financing the Fund Reporting Persons' investment activities
generally, and not for specific investment in securities of the Issuer.
<PAGE>
PAGE 11 OF 14 PAGES
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons acquired the Common Shares, and the Debentures with
respect to which they were issued under the Plan, as an investment. In light of
their liquidation status, the Fund Reporting Persons are reviewing their
investments in the Common Shares and, depending on their assessment of all
relevant factors (including general economic and market conditions; matters
related to the Issuer's business prospects, financial condition and the market
for its securities; and the objectives of the Fund Reporting Persons) may
determine to dispose of any or all of the Common Shares in the open market, in
private transactions or otherwise and/or distribute any or all of the Common
Shares to their respective investors. In the event of a disposition of all of
the Common Shares, Reade would, in all likelihood, resign as a director of the
Issuer. The Reporting Persons have no present plans or proposals, which relate
to or would result in any of the actions described in subparagraphs (a) through
(j) of item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The following table sets forth the number of Common Shares of the
Issuer beneficially owned by each of the Reporting Persons, and the percentage
of the Issuer's 13,412,138 Common Shares (as reported in its most recent
Quarterly Report on Form 10-Q) which such numbers represent.
- -------------------------------------------------------------------------------
Holder of Securities Number of Shares Percentage of Class
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Partners 318,590 2.4%
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
NII 175,513 1.3%
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
N1989A 63,739 0.5%
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
N1989 41,280 0.3%
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
N1989C 27,762 0.2%
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Garcia and Reade (1) 626,884 4.7%
- -------------------------------------------------------------------------------
(1) Garcia and Reade together are the general partners, investment
managers, or controlling persons of the general partners or investment managers,
of each of the Fund Reporting Persons and may be deemed to be the beneficial
owners of the Common Shares to be owned by the Fund Reporting Persons. See
subparagraph (b) of this Item. (b) Each of the Fund Reporting Persons, acting
through its general partner(s) or investment manager(s), has sole power to vote
and dispose of the Common Shares shown next to its name in the table in
subparagraph (a) of this Item. Each Fund Reporting Person disclaims beneficial
ownership of the Common Shares shown next to the names of the other Fund
Reporting Persons in said table. Garcia and Reade, by virtue of the
relationships described in Item 2, share the power to vote and dispose of the
Common Shares owned by the Fund Reporting Persons. Although Garcia and Reade do
not directly hold Common Shares, they are investors, directly or indirectly, in
Partners and N1989A. They have received and may receive fees (some of which are
based on investment profits) from all the Fund Reporting Persons. (c) None of
the Reporting Persons have engaged in transactions in the Common Shares in the
past 60 days. (d) Under certain circumstances, the investors in a Fund Reporting
Person may have the right to receive the dividends from, or proceeds from the
sale of, the Common Shares beneficially owned by such Fund Reporting Person. (e)
On April 3, 1995, the Issuer announced the issuance, as of March 31, 1995, of an
additional 3,636,352 Common Shares to converting holders of convertible
debentures. The effect of this issuance was that each of the Reporting Persons
individually, and all of them in the aggregate, ceased to be the beneficial
owner of more than 5% of the Common Shares. Accordingly, the Reporting Persons
have no further reporting obligation under Section 13(d) of the Securities
Exchange Act of 1934.
<PAGE>
PAGE 12 OF 14 PAGES
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) among the persons named in Item 2 and between such persons
and any other person with respect to any securities of the Issuer. Agreements
exist between the Fund Reporting Persons and their general partners or
investment managers which govern generally the investment management of funds;
however, none of these agreements relate specifically to any securities of the
Issuer.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
(a) The Plan of Reorganization of Circle Express, Inc. and all exhibits
hereto which were filed with the Commission as exhibits to said company's report
on Form 10-Q for the second quarter of 1990 (File No. 0-14060), are incorporated
herein by reference.
(b) Joint Filing Agreement among the Reporting Persons
dated the date hereof.
<PAGE>
PAGE 13 OF 14 PAGES
SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
December 10, 1996 NEPTUNE PARTNERS, L.P.
By: /s/ FRANCISCO A. GARCIA
----------------------------------------------
General Partner
NEPTUNE II INVESTORS LIMITED
By Neptune Management Company, Inc.
By: /s/ FRANCISCO A. GARCIA
------------------------------------------------
Chairman of the Board
NEPTUNE PARTNERS-1989A, L.P.
By its general partner, Neptune Management
Partners, L.P.
By its general partner, Neptune Management
Company, Inc.
By: /s/ FRANCISCO A. GARCIA
----------------------------------------------
Chairman of the Board
NEPTUNE 1989 INVESTORS LIMITED
By Neptune Management Company, Inc.
/s/ FRANCISCO A. GARCIA
--------------------------------------------------
Chairman of the Board
NEPTUNE 1989C OFFSHORE INVESTORS LIMITED
By its investment manager, Neptune Management
Partners, L.P.
By its general partner, Neptune Management
Company, Inc.
By: /s/ FRANCISCO A. GARCIA
----------------------------------------------
Chairman of the Board
/s/ FRANCISCO A. GARCIA
--------------------------------------------------
Francisco A. Garcia
/s/ A. TORREY READE
--------------------------------------------------- A. Torrey Reade
<PAGE>
PAGE 14 OF 14 PAGES
Exhibit (b)
JOINT FILING AGREEMENT FOR SCHEDULE 13D
The undersigned acknowledge and agree that the foregoing Amendment No. 1 to
Schedule 13D with respect to the Common Stock, no par value, of Intrenet, Inc.
shall be filed on behalf of each of them and contains the information with
respect to each such person (and for which each such person shall be
responsible) which would be contained if each such person were filing singly.
December 10, 1996 NEPTUNE PARTNERS, L.P.
By: /s/ FRANCISCO A. GARCIA
----------------------------------------------
General Partner
NEPTUNE II INVESTORS LIMITED
By Neptune Management Company, Inc.
By: /s/ FRANCISCO A. GARCIA
------------------------------------------------
Chairman of the Board
NEPTUNE PARTNERS-1989A, L.P.
By its general partner, Neptune Management
Partners, L.P.
By its general partner, Neptune Management
Company, Inc.
By: /s/ FRANCISCO A. GARCIA
----------------------------------------------
Chairman of the Board
NEPTUNE 1989 INVESTORS LIMITED
By Neptune Management Company, Inc.
/s/ FRANCISCO A. GARCIA
--------------------------------------------------
Chairman of the Board
NEPTUNE 1989C OFFSHORE INVESTORS LIMITED
By its investment manager, Neptune Management
Partners, L.P.
By its general partner, Neptune Management
Company, Inc.
By: /s/ FRANCISCO A. GARCIA
----------------------------------------------
Chairman of the Board
/s/ FRANCISCO A. GARCIA
--------------------------------------------------
Francisco A. Garcia
/s/ A. TORREY READE
---------------------------------------------------
A. Torrey Reade
<PAGE>
