SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
(Amendment No. 2)*
BioLase Technology, Inc.
(Name of Issuer)
Common Stock
Par Value $.001 per share
(Title of Class of Securities)
0-19627
(CUSIP Number)
Check the following box if a fee is being paid with the statement [ ] (A fee is
not required only if the filing 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.)
* 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 ("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 1 of 5 Pages
<PAGE>
CUSIP NO. 0-19627 Page 2 of 5 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Advisor's Capital Investments, Inc. d/b/a Perspective Advisory Group
06-1166053
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ X ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,550,398*
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,550,398 as of 02/09/98 *Beneficial ownership expressly disclaimed
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.3%
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12. TYPE OF REPORTING PERSON
IA
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<PAGE>
CUSIP NO. 0-19627 Page 3 of 5 Pages
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Item 1. (a) The name of the issuer is:
BioLase Technology, Inc.
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(b) The address of the Issuer's principal executive offices is:
981 Calle Amanecer, San Clemente, California 92673.
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Item 2. (a) The name of the person filing this Schedule 13G is:
Advisor's Capital Investments, Inc. d/b/a Perspective
Advisory Group. Advisor's Capital Investments, Inc. was formerly known as, and
previously filed its Schedule 13G and Amendment No. One thereto under the name
of, Program One, Inc. d/b/a Perspective Advisory Group.
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(b) The address of the reporting person's principal business
office is:
17 Tripp Road, Woodstock, Connecticut 06281.
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(c) The filing person is a Delaware corporation.
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(d) The title of the class of securities for which this
Schedule is being filed is:
Common Stock, $.001 par value.
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(e) The cusip number for the Issuer is:
0-19627.
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Item 3. The filing person is an Investment Adviser registered under section 203
of the Investment Advisers Act of 1940.
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Item 4. Ownership.
As of February 9, 1998, the reporting person may be deemed to
beneficially own the following shares of the Issuer's outstanding Common Stock,
$.001 par value. Beneficial ownership is, however, expressly disclaimed.
(a) The reporting person may be deemed to beneficially own 1,550,398
shares of the Issuer's Common Stock (the "Shares").
(b) The Shares represent approximately 11.3% of the Class.
(c) The number of shares as to which the reporting person has (i) sole
power to vote or to direct the vote is 0; (ii) shared power to vote or to direct
the vote is 0; (iii) sole power to dispose or to direct the disposition of is 0;
and (iv) shared power to dispose or to direct the disposition of is 1,550,398.
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Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
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<PAGE>
CUSIP NO. 0-19627 Page 4 of 5 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
All of the Shares reported hereunder are managed by the reporting
person, a registered investment advisor, on behalf of various clients. The
majority of the Shares reported hereunder are held in trusts for the benefit of
the registered owners by third party trustees. Other than a shared power to
dispose of the Shares, the registered owners retain all other ownership rights.
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
Not Applicable.
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Item 8. Identification and Classification of Members of the Group.
Not Applicable.
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Item 9. Notice of Dissolution of Group.
Not Applicable.
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Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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CUSIP NO. 0-19627 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.
February 12, 1998
-----------------
Date
ADVISOR'S CAPITAL
INVESTMENTS, INC. D/B/A
PERSPECTIVE ADVISORY GROUP
By:/ s/Robert K. Mann
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Title: Robert K. Mann
