<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. 11)(1)
CIMETRIX INCORPORATED
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.0001 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
17185E100
- --------------------------------------------------------------------------------
(CUSIP Number)
Geoffrey Todd Hodges, Esq., c/o Agliano, Hodges & Whittemore, P.A.,
400 North Tampa Street, Suite 2630, Tampa, FL 33602;
(813) 225-1515
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 18, 1998
- --------------------------------------------------------------------------------
(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 Rule 13d-1(e), 13d-1(f) or 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
Rule 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of Pages)
- ---------------
(1) 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 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> 2
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Paul A. Bilzerian
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(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
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 1,978,162
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,080,000, plus proxies to vote 1,978,162,
plus warrants to purchase 27,500
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [X]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5% plus proxies to vote 8.0%, plus warrants to purchse 0.1%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Terri L. Steffen
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(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
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,080,000 plus warrants to purchase 27,500
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [X]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5% plus warrants to purchse 0.1%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bicoastal Holding Company
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(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
NUMBER OF 180,000
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH 180,000
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
180,000, plus warrants to purchase 27,500
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%, plus warrants to purchse 0.1%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
CO
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Overseas Holdings Limited Partnership
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(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
NUMBER OF 2,900,000
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH 2,900,000
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,900,000
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.7%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 6
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
The Paul A. Bilzerian and Terri L. Steffen Family Trust of 1995
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cook Islands
---------------------------------------------------------------------
(7) SOLE VOTING POWER
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,080,000, plus warrants to purchase 27,500
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%, plus warrants to purchse 0.1%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
OO
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Overseas Holding Company
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
AF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
---------------------------------------------------------------------
(7) SOLE VOTING POWER
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,900,000
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.7%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
CO
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 8
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
The Paul A. Bilzerian and Terri L. Steffen 1994 Irrevocable Trust
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(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
NUMBER OF 2,315,000
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH 2,315,000
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,315,000
---------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.4%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
OO
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 9
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Adam J. Bilzerian
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(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
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,157,500
---------------------------------------------------------------------
(12) CHECK BOX IF 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> 10
CUSIP NO. 17185E100 13D
---------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Dan B. Bilzerian
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
---------------------------------------------------------------------
(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
NUMBER OF None
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH None
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
None
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,157,500
---------------------------------------------------------------------
(12) CHECK BOX IF 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> 11
ATTACHMENT TO FORM 13D COVER SHEET
All calculations on the Form 13D cover sheets have been made on the
basis that 24,743,928 shares are presently outstanding.
<PAGE> 12
Item 1. Security and Issuer.
The class of security to which this Amendment to Schedule 13D relates is
common stock, $0.0001 par value per share (the "Shares") of Cimetrix
Incorporated, a Nevada corporation (the "Company"). The Company's principal
executive offices are located at 6979 South High Tech Drive, Midvale, Utah
84047.
Item 2. Identity and Background.
This Amendment to Schedule 13D is being filed by Paul A. Bilzerian, Terri
L. Steffen, Bicoastal Holding Company, Overseas Holdings Limited Partnership,
The Paul A. Bilzerian and Terri L. Steffen Family Trust of 1995, Overseas
Holding Company, the Paul A. Bilzerian and Terri L. Steffen 1994 Irrevocable
Trust, Adam J. Bilzerian, and Dan B. Bilzerian, hereafter collectively referred
to as the "Reporting Persons."
(a)-(f). The following sets forth as to each of the Reporting Persons his
(a) name; (b) residence or business address; (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; (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,
the dates, nature of conviction, name and location of court, any penalty
imposed, or other disposition of the case; (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; and (f) citizenship.
1. (a) Paul A. Bilzerian.
(b) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) President, Cimetrix, Incorporated
6979 South High Tech Drive
Midvale, Utah 84047.
(d) None.
(e) None.
(f) United States.
2. (a) Terri L. Steffen.
(b) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) None.
(d) None.
(e) None.
(f) United States.
<PAGE> 13
3. (a) Bicoastal Holding Company, a Nevada corporation
(b) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) Investments.
(d) None.
(e) None.
4. (a) Overseas Holdings Limited Partnership, a Nevada limited
partnership
(b) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) Investments.
(d) None.
(e) None.
5. (a) The Paul A Bilzerian and Terri L. Steffen Family Trust of
1995, a Cook Islands International Trust.
(b) c/o TrustNet (Cook Islands) Limited
C.I.D.B. Building
Avarua
P.O. Box 208
Rarotonga
Cook Islands
(c) Estate planning trust.
(d) None.
(e) None.
6. (a) Overseas Holding Company, a Cayman Islands corporation
(b) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) Investments.
(d) None.
(e) None.
7. (a) The Paul A Bilzerian and Terri L. Steffen 1994
Irrevocable Trust, a Florida Trust.
(b) 400 North Tampa Street, Suite 2630
Tampa, FL 33613.
(c) Children's trust.
(d) None.
(e) None.
8. (a) Adam J. Bilzerian.
(b) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) None.
(d) None.
(e) None.
<PAGE> 14
(f) United States.
9. (a) Dan B. Bilzerian.
(b) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) None.
(d) None.
(e) None.
(f) United States.
Item 3. Source and Amount of Funds or Other Consideration.
The reporting persons used no funds to complete the transactions
reported on this Amendment to Schedule 13D.
Item 4. Purpose of Transaction. Three transactions are reported hereby. The
purpose of one transaction is to raise capital for the Paul A. Bilzerian and
Terri L. Steffen 1994 Irrevocable Trust. This Amendment is also being filed to
correct a mathematical error contained in the Amendment to Schedule 13D filed
on December 15, 1998 by the Reporting Persons. This Amendment is also being
filed to report the pending expiration of proxies held by Paul A. Bilzerian, as
reported on December 15, 1998.
(a) On December 18, 1998, the Paul A. Bilzerian and Terri L. Steffen 1994
Irrevocable Trust sold 5,000 shares of the Company's common stock to an
unrelated party for $0.75 per share, receiving proceeds of $3,750.00.
(b) A mathematical error was contained in the Amendment to Schedule 13D filed
on December 15, 1998 by the Reporting Persons. In the December 15, 1998
Amendment, it was reported that Bicoastal Holding Company owned 480,000 shares
of the Company's common stock, rather than 180,000. Bicoastal Holding Company
owns 180,000 shares of the Company's common stock together with warrants
to purchase 27,500 shares at an exercise price of $2.50.
(c) On March 22, 1994, W. Keith Seolas, Robert K. Seolas, Suzette Seolas, and
Helene S. Seolas granted to Paul A. Bilzerian proxies to vote 2,367,871 shares
of the Company's common stock, as previously reported. After transfers of
shares by the holders thereof, the proxies covered fewer shares, so that, at
present, Mr. Bilzerian holds proxies to vote 1,978,162 shares owned by members
of the Seolas family. After amendment to extend the terms of the proxies, as
previously reported, the proxies will expire on December 31, 1998. Following
that date, Mr. Bilzerian will no longer have any right to vote or other
beneficial interest in those shares.
Item 5. Interest in Securities of the Issuer.
(a) As of December 18, 1998, Overseas Holdings Limited Partnership was the
owner of 2,900,000 shares of the Company's common stock, representing 11.7% of
the Company's
<PAGE> 15
outstanding stock. As of December 18, 1998, Bicoastal Holding
Company was the owner of 180,000 shares of the Company's common stock,
representing 0.7% of the Company's outstanding stock. Bicoastal Holding Company
was also the owner of 27,500 warrants to purchase the Company's common stock
for $2.50 per share, representing 0.1% of the Company's outstanding stock. As
of December 18, 1998, Overseas Holding Company is the beneficial owner of
29,000 shares of the Company's common stock by virtue of its 1% interest in
Overseas Holdings Limited Partnership. This represents 0.1% of the Company's
outstanding stock. As of December 18, 1998, Overseas Holding Company may also
be deemed the beneficial owner of the other 2,871,000 shares of the Company's
common stock owned by Overseas Holdings Limited Partnership because as the sole
general partner of the partnership, it has the right to vote those shares. This
represents 11.7% of the Company's outstanding stock. As of December 18, 1998,
the Paul A Bilzerian and Terri L. Steffen Family Trust of 1995 is the
beneficial owner of 3,080,000 shares of the Company's stock because it is the
99% limited partner of Overseas Holdings Limited Partnership, the owner of 100%
of the stock of Overseas Holding Company, and the owner of 100% of the stock of
Bicoastal Holding Company. This represents 12.5% of the Company's outstanding
stock. As of December 18, 1998, the Paul A Bilzerian and Terri L. Steffen
Family Trust of 1995 is the beneficial owner of 27,500 warrants to purchase the
Company's common stock for $2.50 per share, representing 0.1% of the Company's
outstanding stock, because it is the owner of 100% of the stock of Bicoastal
Holding Company. As of December 18, 1998, Paul A. Bilzerian and Terri L.
Steffen are the beneficial owners of 3,080,000 shares of the Company's stock
because they are the beneficiaries of the Paul A Bilzerian and Terri L. Steffen
Family Trust of 1995. This represents 12.5% of the Company's outstanding stock.
As of December 18, 1998, Paul A. Bilzerian and Terri L. Steffen are the
beneficial owners of 27,500 warrants to purchase the Company's common stock for
$2.50 per share because they are the beneficiaries of the Paul A Bilzerian and
Terri L. Steffen Family Trust of 1995. This represents 0.1% of the Company's
outstanding stock. As of December 18, 1998, the Paul A Bilzerian and Terri L.
Steffen 1994 Irrevocable Trust was the owner of 2,315,000 shares of the
Company's common stock. This represents 9.4% of the Company's outstanding
stock. As of December 18, 1998, Adam J. Bilzerian may be deemed the beneficial
owner of 1,157,500 shares of the Company's common stock because he is the owner
of a 50% beneficial interest in the Paul A Bilzerian and Terri L. Steffen 1994
Irrevocable Trust. This represents 4.7% of the Company's outstanding stock. As
of December 18, 1998, Dan B. Bilzerian may be deemed the beneficial owner of
1,157,500 shares of the Company's common stock because he is the owner of a 50%
beneficial interest in the Paul A Bilzerian and Terri L. Steffen 1994
Irrevocable Trust. This represents 4.7% of the Company's outstanding stock.
Paul A. Bilzerian and Terri L. Steffen may also be deemed beneficial owners of
2,315,000 shares of stock owned by the Paul A. Bilzerian and Terri L. Steffen
1994 Irrevocable Trust because the principal beneficiaries of the trust are
their children, Adam J. Bilzerian and Dan B. Bilzerian. This represents 9.4% of
the Issuer's outstanding stock. Mr. Bilzerian and Ms. Steffen, however,
disclaim any beneficial ownership of those shares. As of December 18, 1998, Mr.
Bilzerian holds proxies to share voting power of 1,978,162 shares of stock by
virtue of proxies from W. Keith Seolas and members of his family, representing
8.0% of the Company's outstanding stock. Such proxies will expire on December
31, 1998, and after that date, Mr. Bilzerian will have no right to vote or
other beneficial interest in any of the proxied shares. Except as provided
herein, this Amendment to Schedule 13D does not amend the beneficial ownership
of shares beneficially owned by Mr. Bilzerian, members of his family, or
related entities, as reflected in Schedule 13D and amendments previously filed
on behalf of Paul A. Bilzerian, Terri L. Steffen, Bicoastal Holding Company,
the Paul A. Bilzerian and Terri L. Steffen Family Trust of
<PAGE> 16
1995, the Paul A. Bilzerian and Terri L. Steffen Irrevocable Trust of 1994,
Overseas Holdings Limited Partnership, Overseas Holding Company, Adam J.
Bilzerian, and Dan B. Bilzerian.
(b) The responses of the Reporting Persons to items (7) through (11) of the
portions of the cover page relating to beneficial ownership of Shares are
incorporated herein by reference.
(c) Except as provided herein, there have been no transactions in Shares or
other securities of the Company by any of the Reporting Persons within the past
60 days or since the most recent Amendment to Schedule 13D was filed.
(d) None.
(e) None.
Item 6. Contracts, Arrangements, Understandings, or Relationships with respect
to Securities of the Issuer.
None.
Item 7. Material to be Filed as Exhibits.
None.
<PAGE> 17
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: 12/18/98 /s/ PAUL A. BILZERIAN
------------------------- ---------------------------------
PAUL A. BILIZERIAN
<PAGE> 18
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: 12/18/98 /s/ PAUL A. BILZERIAN
------------------------- ---------------------------------
PAUL A. BILIZERIAN, President
Bicoastal Holding Company
<PAGE> 19
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: 12/18/98 /s/ TERRI L. STEFFEN
------------------------- ---------------------------------
TERRI L. STEFFEN
<PAGE> 20
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: 12/18/98 /s/ Terri L. Steffen
--------------------------- ---------------------------------------
TERRI L. STEFFEN, President of Overseas
Holding Company
<PAGE> 21
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: 12/18/98 /s/ Terri L. Steffen
--------------------------- --------------------------------------
TERRI L. STEFFEN, President of Overseas
Holding Company, as General Partner
of Overseas Holdings Limited
Partnership
<PAGE> 22
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: 12/18/98 /s/ Terri L. Steffen
------------------------------ ----------------------------------------
TERRI L. STEFFEN, as Natural Guardian of
Dan B. Bilzerian
<PAGE> 23
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: 12/18/98 /s/ Harry A. Steffen
-------------------------- -------------------------------------------
HARRY A. STEFFEN, Co-Trustee of the Paul A.
Bilzerian and Terri L. Steffen Family
Trust of 1995
<PAGE> 24
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: 12/18/98 /s/ Terri L. Steffen
-------------------------- -------------------------------------------
TERRI L. STEFFEN, as Natural Guardian of
Adam J. Bilzerian
<PAGE> 25
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: 12/18/98 /s/ Geoffrey Todd Hodges
----------------------------- ----------------------------------------
GEOFFREY TODD HODGES, Co-Trustee of the
Paul A. Bilzerian and Terri L. Steffen 1994
Irrevocable Trust
