<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 9 )*
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CIMETRIX INCORPORATED
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(Name of Issuer)
Common Stock, $0.0001 par value
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(Title of Class of Securities)
17185E100
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(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
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 29, 1997
-----------------------------------------
(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 being 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 the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
"filed" for purposes 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)
(Continued on following page(s))
Page 1 of 20 Pages
<PAGE> 2
CUSIP No. 17185E100 13D Page 2 of 20 Pages
--------------------- -------- --------
(1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Paul A. Bilzerian
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(2) Check the Appropriate Box if a Member of a Group* (a) [X]
(b) [ ]
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(3) SEC Use Only
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(4) SOURCE OF FUNDS*
00
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) Citizenship or Place of Organization
United States
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(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
3,000,000, plus proxies to vote 1,978,162
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(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [X]
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(13) Percent of Class Represented by Amount in Row (11)
12.4%, plus proxies to vote 8.2%
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(14) Type of Reporting Person*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP No. 17185E100 13D Page 3 of 20 Pages
--------------------- -------- --------
(1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Terri L. Steffen
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(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*
00
---------------------------------------------------------------------
(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
3,000,000
---------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [X]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
12.4%
---------------------------------------------------------------------
(14) Type of Reporting Person*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP No. 17185E100 13D Page 4 of 20 Pages
--------------------- -------- --------
(1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Bicoastal Holding Company
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(2) Check the Appropriate Box if a Member of a Group* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC Use Only
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(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
Cayman Islands
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(7) Sole Voting Power
Number of 3,000,000
Shares --------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by None
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 3,000,000
--------------------------------------------------------
(10) Shared Dispositive Power
None
--------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,000,000
---------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [ ]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
12.4%
---------------------------------------------------------------------
(14) Type of Reporting Person*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
CUSIP No. 17185E100 13D Page 5 of 20 Pages
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(1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Overseas Holdings Limited Partnership
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(2) Check the Appropriate Box if a Member of a Group* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC Use Only
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(4) SOURCE OF FUNDS*
00
---------------------------------------------------------------------
(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
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(7) Sole Voting Power
Number of 3,000,000
Shares --------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by None
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 3,000,000
--------------------------------------------------------
(10) Shared Dispositive Power
None
--------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,000,000
---------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [ ]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
12.4%
---------------------------------------------------------------------
(14) Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 6
CUSIP No. 17185E100 13D Page 6 of 20 Pages
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(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*
00
---------------------------------------------------------------------
(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
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(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
3,000,000
---------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [ ]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
12.4%
---------------------------------------------------------------------
(14) Type of Reporting Person*
00
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
CUSIP No. 17185E100 13D Page 7 of 20 Pages
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(1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Lincoln M. Dastrup
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(2) Check the Appropriate Box if a Member of a Group* (a) [X]
(b) [ ]
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(3) SEC Use Only
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(4) SOURCE OF FUNDS*
PF
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(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 1,963,450
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With None
--------------------------------------------------------
(10) Shared Dispositive Power
1,963,450
--------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,963,450
---------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [X]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
8.1%
---------------------------------------------------------------------
(14) Type of Reporting Person*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 8
CUSIP No. 17185E100 13D Page 8 of 20 Pages
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(1) Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Linda Dastrup
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(2) Check the Appropriate Box if a Member of a Group* (a) [X]
(b) [ ]
---------------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------------
(4) SOURCE OF FUNDS*
00
---------------------------------------------------------------------
(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 1,963,450
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With None
--------------------------------------------------------
(10) Shared Dispositive Power
1,963,450
--------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,963,450
---------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [X]
---------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
8.1%
---------------------------------------------------------------------
(14) Type of Reporting Person*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 9
Page 9 of 20 Pages
ATTACHMENT TO FORM 13D COVER SHEET
All calculations on the Form 13D cover sheets have been made on the basis
that 24,143,928 shares are presently outstanding.
<PAGE> 10
Page 10 of 20 Pages
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, Lincoln
Dastrup and Linda Dastrup, 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> 11
Page 11 of 20 Pages
3. (a) Bicoastal Holding Company, a Cayman Islands 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) 16229 Villarreal de Avila
Tampa, FL 33613.
(c) Estate planning trust.
(d) None.
(e) None.
6. (a) Lincoln M. Dastrup.
(b) 871 Osmond Lane
Provo, UT 84604.
(c) Self-employed financial consultant.
(d) None.
(e) None.
(f) United States.
7. (a) Linda Dastrup.
(b) 871 Osmond Lane
Provo, UT 84604.
(c) None.
(d) None.
(e) None.
(f) United States.
Item 3. Source and Amount of Funds or Other Consideration.
David L. Redmond and Lincoln M. Dastrup used their own personal funds
to complete the transactions reported on this Schedule 13D.
<PAGE> 12
Page 12 of 20 Pages
Item 4. Purpose of Transaction. Three transactions are reported hereby. In
addition to the transactions reported hereby, Bicoastal Holding Company has
offered to purchase for $0.50 per warrant, up to 70,000 warrants to purchase the
Company's common stock. The warrants are exercisable at a price of $2.50 per
share. The offer is open until March 15, 1998. If the offer is accepted,
Bicoastal Holding Company would use its working capital to complete the
transaction.
(a) On October 29, 1997, Bicoastal Holding Company sold 200,000 shares of the
Company's common stock to David L. Redmond, the Company's Chief Financial
Officer and one of its Directors. The sale price was $1.00 per share for a total
sales price of $200,000. Mr. Redmond used his personal funds to complete the
transaction. The purpose of this transaction was to provide Mr. Redmond with
additional incentive compensation and reward him for his prospective efforts in
connection with the sale of the Company's Senior Notes.
(b) On December 29, 1997, Bicoastal Holding Company gave 6,000 shares of the
Company's common stock to the children of Dr. Stuart Kaufman. No funds were used
for the transaction. The purpose of the transaction was to help offset the
significant deterioration in the price of the stock that they had suffered since
Dr. Kaufman purchased the stock for them.
(c) On December 29, 1997, Bicoastal Holding Company sold 94,000 shares of the
Company's common stock to Lincoln M. Dastrup. The sale price was approximately
$7.18 per share, for a total sale price of $675,000. Mr. Dastrup used his
personal funds for the transaction. The purpose of the transaction was to help
compensate Bicoastal Holding Company for its sales of stock at below market
prices to Mr. Redmond and for the gift it made to the children of Dr. Kaufman, a
significant investor in the Company. The net effect of these transactions was
that Bicoastal Holding Company divested itself of 300,000 shares of the
Company's common stock, and received a total of $775,000, or approximately $2.58
per share.
Item 5. Interest in Securities of the Issuer.
(a) As of January 15, 1998, Paul A. Bilzerian held proxies to vote 1,978,162
shares of the Company's common stock, representing 8.2% of the Company's
outstanding stock. This Amendment to Schedule 13D only amends the shares for
which Paul A. Bilzerian was deemed beneficial owner by virtue of his beneficial
ownership of Bicoastal Holding Company. It does not amend the shares for which
Mr. Bilzerian is deemed beneficial owner by virtue of proxies from W. Keith
Seolas or members of his family and except as provided herein, it 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
1995, the Paul A. Bilzerian and Terri L. Steffen Irrevocable Trust of 1994, and
Overseas Holdings Limited Partnership. As of January 15, 1998, Paul A. Bilzerian
and Terri L. Steffen owned all of the beneficial interests in The Paul A.
Bilzerian and Terri L. Steffen Family Trust of 1995, which is the sole
beneficial owner of Bicoastal Holding Company and the sole limited partner of
Overseas Holdings
<PAGE> 13
Page 13 of 20 Pages
Limited Partnership. Bicoastal Holding Company is the sole general partner of
Overseas Holdings Limited Partnership. Therefore, Bicoastal Holding Company, the
Paul A. Bilzerian and Terri L. Steffen Family Trust of 1995, and Mr. Bilzerian
and Ms. Steffen may each be deemed beneficial owners of 3,000,000 shares held by
these entities. This represents 12.4% of the Issuer's outstanding stock. Mr.
Bilzerian and Ms. Steffen may also be deemed beneficial owners of 2,400,000
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 9.9% of the
Issuer's outstanding stock. Mr. Bilzerian and Ms. Steffen, however, disclaim any
beneficial ownership of those shares.
As of January 15, 1998, Lincoln M. Dastrup and Linda Dastrup, husband and
wife, owned 1,963,450 shares of the Company's common stock, representing 8.1% of
the Company's outstanding common stock.
(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) Between October 16, 1997 and December 30, 1997, Lincoln M. Dastrup and Linda
Dastrup sold 185,500 shares at prices ranging between $1.94 per share and $2.68
per share. 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.
As noted above, Bicoastal Holding Company has offered to purchase for $0.50 per
warrant, up to 70,000 warrants to purchase the Company's common stock. The
warrants are exercisable at a price of $2.50 per share. The offer is open until
March 15, 1998. If the offer is accepted, Bicoastal Holding Company would use
its working capital to complete the transaction.
Item 7. Material to be Filed as Exhibits.
None.
<PAGE> 14
Page 14 of 20 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.
Date: January 15, 1998 /s/ Paul A. Bilzerian
----------------------------------
PAUL A. BILZERIAN
<PAGE> 15
Page 15 of 20 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.
Date: January 15, 1998 /s/ Terri L. Steffen
----------------------------------
TERRI L. STEFFEN
<PAGE> 16
Page 16 of 20 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.
Date: January 15, 1998 /s/ Paul A. Bilzerian
----------------------------------
PAUL A. BILZERIAN, President
Bicoastal Holding Company
<PAGE> 17
Page 17 of 20 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.
Date: January 15, 1998 /s/ Paul A. Bilzerian
----------------------------------
PAUL A. BILZERIAN, President,
Bicoastal Holding Company, as
General Partner of Overseas
Holdings Limited Partnership
<PAGE> 18
Page 18 of 20 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.
Date: January 15, 1998 /s/ Paul A. Bilzerian
----------------------------------
PAUL A. BILZERIAN, Co-Trustee
of The Paul A. Bilzerian and
Terri L. Steffen Family Trust
of 1995
<PAGE> 19
Page 19 of 20 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.
Date: January 15, 1998 /s/ Lincoln M. Dastrup
----------------------------------
LINCOLN M. DASTRUP
<PAGE> 20
Page 20 of 20 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.
Date: January 15, 1998 /s/ Linda Dastrup
----------------------------------
LINDA DASTRUP
