UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
EFI Electronics Corporation
(Name of Issuer)
Common Stock, $.0001 par value
(Title of Class of Securities)
268428-20-8
(CUSIP Number)
Richard G. Brown, Esq.
Kimball, Parr, Waddoups, Brown & Gee
P.O. Box 11019
Salt Lake City, UT 84147
Telephone: (801) 532-7840
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 27, 1996
(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 in 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>
SCHEDULE 13D
CUSIP NO. 268428-20-8 Page 2 of 5 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard D. Clasen; SSN: ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO; PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [ ]
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
7 SOLE VOTING POWER
234,051
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 123,748
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 234,051
10 SHARED DISPOSITIVE POWER
123,748
11 GATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
357,799
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
8.4%
14 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP NO. 268428-20-8 Page 3 of 5 Pages
Item 1. Security and Issuer
(a) Title of Class of Equity Securities: Common stock, $0.0001 par
value (the "Common Stock")
(b) Name of Issuer: EFI Electronics Corporation (the "Issuer").
(c) Address of Issuer's Principal Executive Offices: 2415 South 2300
West, Salt Lake City, UT 84119
Item 2. Identity and Background
(a) Name: Richard D. Clasen (the "Reporting Person")
(b) Business address: 2415 South 2300 West, Salt Lake City, UT 84119
(c) Present principal occupation or employment: President and CEO of
the Issuer
(d) Criminal Proceedings: The Reporting Person has not been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors) during the last five years.
(e) Civil Proceedings: The Reporting Person has not been a party to a
civil proceeding involving federal or state securities laws as
described in the instructions for Item 2(e) of Schedule 13D,
during the last five years.
(f) Citizenship: United States
Item 3. Source and Amount of Funds or Other Consideration
On July 26, 1996, the Reporting Person used personal funds to purchase
23,748 shares of the Common Stock at a purchase price of $1.05 per share.
Such sale to the Reporting Person was authorized by the Issuer's Board of
Directors on July 26, 1996 and payment therefor was received on August 9,
1996, however, the stock was not issued until September 27, 1996 because the
issuance of the stock was conditioned upon a favorable outcome of a NASDAQ
hearing on capitalization compliance issues.
On September 20, 1996, the Reporting Person used funds that were
withdrawn from his IRA account to purchase 66,667 shares of the Common Stock
at a purchase price of $.90 per share. Also on September 20, 1996, the
Reporting Person used personal funds to purchase 100,000 shares of the
Common Stock at a purchase price of $.90 per share.
Item 4. Purpose of Transaction
The shares of the Common Stock issued to the Reporting Person were
issued in connection with a private offering.
The Reporting Person reserves the right to purchase additional shares
of the Common Stock or to dispose of shares of the Common Stock in the open
market, in privately negotiated transactions or in any other lawful manner
in the future. Except as described above, the Reporting Person presently has
no plans or proposals which relate to or would result in any action
enumerated in subparagraphs (a) through (j) of the instructions for Item 4
of Schedule 13D.
<PAGE>
SCHEDULE 13D
CUSIP NO. 268428-20-8 Page 4 of 5 Pages
Item 5. Interest in Securities of the Issuer
(a) The aggregate number of shares of the Common Stock beneficially
owned by the Reporting Person is 357,799 shares, which represents 8.4% of
the outstanding shares of the Issuer.
(b) The Reporting Person has the sole power to vote or direct the vote
and sole power to dispose or to direct the disposition of 234,051 shares of
the Common Stock, of which 50,000 shares of the Common Stock are subject to
currently exercisable options. The Reporting Person shares the power to
vote, direct the vote, dispose and direct the disposition of 123,748 shares
of the Common Stock with his spouse, Barbara J. Clasen. Mrs. Clasen is not
employed outside the home, has not been convicted in a criminal proceeding
during the last five years, has not been a party to any civil proceedings
during the last five years and is a U.S. citizen.
(c) On September 20, 1996, the Reporting Person used funds that were
withdrawn from his IRA account to purchase 66,667 shares of the Common Stock
at a purchase price of $.90 per share. Also on September 20, 1996, the
Reporting Person used personal funds to purchase 100,000 shares of the
Common Stock at a purchase price of $.90 per share.
(d) No person other than the Reporting Person has the right to receive
or the power to direct the receipt of dividends from, or the proceeds from
the sale of 234,051 shares of the Common Stock. No person other than the
Reporting Person and Mrs. Clasen has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of
123,748 shares of the Common Stock
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Of the shares of the Common Stock of which the Reporting Person has
sole voting and dispositive power, 100,000 shares are pledged to the Issuer
to secure the purchase price thereof.
Item 7. Material to Be Filed as Exhibits
None.
<PAGE>
SCHEDULE 13D
CUSIP NO. 268428-20-8 Page 5 of 5 Pages
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.
October 1, 1996 /s/ RICHARD D. CLASEN
Date Richard D. Clasen
