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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
(Name of Issuer)
Surety Capital Corporation
(Title of Class of Securities)
Common Stock
(CUSIP Number)
868666207
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Richard N. Abrams
480 Central Avenue
Northfield, IL 60093
(847) 441-6500
(Date of Event which Requires Filing of this Statement)
July 5, 2000
July 18, 2000
July 25, 2000
August 18, 2000
August 21, 2000
September 6, 2000
September 8, 2000
September 12, 2000
September 13, 2000
CUSIP No. 868666207
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
Richard N. Abrams, Rodney A. Abrams and Jodi Abrams Engfer
###-##-####
4.
Source of Funds (See Instructions) PF
5.
6.
Citizenship or Place of Organization Illinois
Number of Shares Beneficially Owned by Each Reporting Person With
7.
Sole Voting Power: 749,200
9.
Sole Dispositive Power: 749,200
11.
Aggregate Amount Beneficially Owned by Each Reporting Person:
749,200
13.
Percent of Class Represented by Amount in Row (11): 12.71%
14.
Type of Reporting Person (See Instructions) : IN
Item 1.
Security and Issuer
This Amendment No. 1 relates to the Schedule 13D filed on September 15, 1999
in connection with the ownership by Richard N. Abrams, Rodney A. Abrams and
Jodi Abrams Engfer of shares of common stock, par value $ 0.01 per
share("shares") of Surety Capital Corporation, a Delaware corporation (the
"Company" or "Surety"). The capitalized terms used in this Amendment, unless
otherwise defined, shall have the same meaning as in the original Schedule
13D.
Item 2.
Identity and Background
If the person filing this statement or any person enumerated in Instruction C
of this statement is a corporation, general partnership, limited partnership,
syndicate or other group of persons, state its name, the state or other place
of its organization, its principal business, the address of its principal
office and the information required by (d) and (e) of this Item. If the
person filing this statement or any person enumerated in Instruction C is a
natural person, provide the information specified in (a) through (f) of this
Item with respect to such person(s).
(a)
Name; Richard N. Abrams, Rodney A. Abrams and Jodi
Abrams Engfer
(b)
Business address; 480 Central Avenue
Northfield, IL 60093
(c)
Present principal occupation or employment and the name,
principal business and address of any corporation or other
organization in which such employment is conducted; Richard is
an Officer and employed by Funeral Financial Systems, Ltd.
Rodney is a Market Maker on the Chicago Board of Options
Exchange. Jodi is a homemaker.
(d)
Whether or not, during the last five years, such person has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) and, if so, give the dates, nature of
conviction, name and location of court, and penalty imposed, or
other disposition of the case; No
(e)
Whether or not, during the last five years, such person was a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding 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; and, if so, identify and describe such
proceedings and summarize the terms of such judgment, decree
or final order; No
And
(f)
Citizenship. USA
Item 3.
Source and Amount of Funds or Other Consideration
State the source and the amount of funds or other consideration used or to be
used in making the purchases, and if any part of the purchase price is or
will be represented by funds or other consideration borrowed or otherwise
obtained for the purpose of acquiring, holding, trading or voting the
securities, a description of the transaction and the names of the parties
thereto. Where material, such information should also be provided with
respect to prior acquisitions not previously reported pursuant to this
regulation. If the source of all or any part of the funds is a loan made in
the ordinary course of business by a bank, as defined in Section 3(a)(6) of
the Act, the name of the bank shall not be made available to the
public if the person at the time of filing the statement so requests in
writing and files such request, naming such bank, with the Secretary of the
Commission. If the securities were acquired other than by purchase,
describe the method of acquisition. Since the date of the last filing,
Richard N. Abrams, Rodney A. Abrams and Jodi Abrams Engfer have acquired
232,400 shares at an aggregate purchase price of $ 143,275.01, including any
brokerage commissions. They purchased the Shares with their personal funds.
Item 4.
Purpose of Transaction
State the purpose or purposes of the acquisition of securities of the issuer.
Describe any plans or proposals which the reporting persons may have which
relate to or would result in:
(a)
The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer; These
individuals might from time to time purchase additional shares.
(b)
An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries; N/A
(c)
A sale or transfer of a material amount of assets of the issuer or
any of its subsidiaries; N/A
(d)
Any change in the present board of directors or management of
the issuer, including any plans or proposals to change the number
or term of directors or to fill any existing vacancies on the board;
N/A
(e)
Any material change in the present capitalization or dividend
policy of the issuer; N/A
(f)
Any other material change in the issuer's business or corporate
structure including but not limited to, if the issuer is a registered
closed-end investment company, any plans or proposals to make
any changes in its investment policy for which a vote is required
by section 13 of the Investment Company Act of 1940; N/A
(g)
Changes in the issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the issuer by any person; N/A
(h)
Causing a class of securities of the issuer to be delisted from a
national securities exchange or to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered
national securities association; N/A
(i)
A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Act; N/A or
(j)
Any action similar to any of those enumerated above. N/A
Item 5.
Interest in Securities of the Issuer
(a)
State the aggregate number and percentage of the class of
securities identified pursuant to Item 1 (which may be based on
the number of securities outstanding as contained in the most
recently available filing with the Commission by the issuer unless
the filing person has reason to believe such information is not
current) beneficially owned (identifying those shares which there
is a right to acquire) by each person named in Item 2. The above
mentioned information should also be furnished with respect to
persons who, together with any of the persons named in Item 2,
comprise a group within the meaning of Section 13(d)(3) of the
Act; As of September 1, 2000, Richard N. Abrams, Rodney A.
Abrams and Jodi Abrams Engfer owned an aggregate of
749,200 shares or approximately 12.71%. Percentage
ownership is based upon the total Shares reported as
outstanding in the Company's Proxy Statement issued June 9,
2000.
(b)
For each person named in response to paragraph (a), indicate
the number of shares as to which there is sole power to vote or
to direct the vote, shared power to vote or to direct the vote,
sole power to dispose or to direct the disposition, or shared
power to dispose or to direct the disposition. Provide the
applicable information required by Item 2 with respect to each
person with whom the power to vote or to direct the vote or to
dispose or direct the disposition is shared; N/A
Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Describe any contracts, arrangements, understandings or relationships (legal
or otherwise) among the persons named in Item 2 and between such persons and
any person with respect to any securities of the issuer, including but not
limited to transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies, naming
the persons with whom such contracts, arrangements, understandings or
relationships have been entered into. Include such information for any of the
securities that are pledged or otherwise subject to a contingency the
occurrence of which would give another person voting power or
investment power over such securities except that disclosure of standard
default and similar provisions contained in loan agreements need not be
included.
All individuals in Item 2 have given voting rights for the 749,200 common
shares to Richard N. Abrams. Richard N. Abrams is the father of the other
two individuals. If Richard is incapacitated, then Rodney has the voting
rights for the 749,200 common shares.
Item 7.
Material to Be Filed as Exhibits
Transactions in Shares for the past 60 days not previously reported: Date
Number of Shares Purchased
Price per Share*
Date of Purchase Number of Shares Price per Share
07/05/00 27,500 $0.6887
07/18/00 10,100 $0.5059
07/25/00 32,600 $0.5919
08/18/00 50,000 $0.6017
08/21/00 15,000 $0.6056
09/06/00 2,200 $0.6373
09/08/00 20,000 $0.6150
09/12/00 20,000 $0.6150
09/13/00 55,000 $0.6135
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: September 14, 2000
Signature:
Richard N. Abrams
Rodney A. Abrams
Jodi Abrams Engfer
Name/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 the 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)
