<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
THE TRACKER CORPORATION OF AMERICA
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.001
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(Title of Class of Securities)
89234G1
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(CUSIP Number)
*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 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).
(Continued on following pages)
Page 1 of 8 Pages
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CUSIP NO. 89234G1 13G Page 2 of 8 Pages
<TABLE>
<S> <C>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SATURN INVESTMENTS, INC.
51-0338674
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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
0
NUMBER OF -------------------------------------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY OWNED 1,052,564 - SEE ITEM 4(c)(ii)
BY EACH -------------------------------------------------------------------------------------------------------------
REPORTING PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
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8 SHARED DISPOSITIVE POWER
1,052,564 - SEE ITEM 4(c)(iv)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,052,564 - SEE ITEM 4(a)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
NOT APPLICABLE
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.9%
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12 TYPE OF REPORTING PERSON*
CO
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</TABLE>
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CUSIP NO. 89234G1 13G Page 3 of 8 Pages
<TABLE>
<S> <C>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WAFR HOLDINGS N.V.
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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
NETHERLANDS ANTILLES
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5 SOLE VOTING POWER
228,572
NUMBER OF -------------------------------------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY OWNED 1,052,564 - SEE ITEM 4(c)(ii)
BY EACH -------------------------------------------------------------------------------------------------------------
REPORTING PERSON 7 SOLE DISPOSITIVE POWER
WITH 228,572
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8 SHARED DISPOSITIVE POWER
1,052,564 - SEE ITEM 4(c)(iv)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,281,136 - SEE ITEM 4(a)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
NOT APPLICABLE
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.0%
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12 TYPE OF REPORTING PERSON*
CO
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</TABLE>
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CUSIP NO. 89234G1 13G Page 4 of 8 Pages
The information contained herein is filed with respect to the common
stock, par value $0.001 (the "Stock"), of The Tracker Corporation of America
("Issuer") by Saturn Investments, Inc. ("Saturn") and WAFR Holdings N.V.
("WAFR").
Item 1 (a) NAME OF ISSUER:
The Tracker Corporation of America
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
180 Dundas Street West, Suite 1502
Toronto, Ontario
M5G 1Z8
Canada
Item 2(a) NAME OF PERSON FILING:
See Cover Page Item 1.
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICES:
Saturn c/o Anthony Bonanno
Gibson, Dunn & Crutcher LLP
1050 Connecticut Avenue
Washington D.C. 20036-5306
WAFR c/o Amaco (Curacao) N.V.
Kaya W.F.G. (Jombi)
Mensing 36
Curacao
Netherlands Antilles
(c) CITIZENSHIP:
See Cover Page Item 4.
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CUSIP NO. 89234G1 13G Page 5 of 8 Pages
(d) TITLE OF CLASS OF SECURITIES:
The common stock of the company has a par value of $0.001
("Stock").
The interests of Saturn, Ismail Abudawood, Osama Abudawood,
Anas Abudawood and Ayman Abudawood in Stock described herein
are held in the form of Exchangeable Preference Shares of The
Tracker Corporation, a wholly owned subsidiary of the Issuer,
which are exchangeable for Stock on a one-to-one basis and are
treated as part of the same class as the Stock.
The interest of WAFR in Stock described herein is held in the
form of convertible debentures which, according to the
registration statement (33-99686), are convertible into
228,572 shares of Stock.
(e) CUSIP NUMBER:
89234G1
Item 3 IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR
13d-2(b), CHECK WHETHER THE PERSON FILING IS A:
Inapplicable.
Item 4. OWNERSHIP
(a) AMOUNT BENEFICIALLY OWNED:
See Cover Page Item 9. Saturn directly owns 1,052,564 shares
of Stock. WAFR directly owns 228,572 shares of Stock and may
be deemed to share beneficial ownership with Saturn of the
shares of Stock held directly by Saturn, its wholly-owned
subsidiary.
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CUSIP NO. 89234G1 13G Page 6 of 8 Pages
Ismail Abudawood owns 100% of the outstanding share capital
of WAFR. In addition, Osama Abudawood, Anas Abudawood and
Ayman Abudawood are the directors of Saturn and directly own
63,000, 14,700 and 20,700 shares of Stock, respectively.
Pursuant to an option agreement dated March 14, 1994, Saturn
had been granted an option to acquire 3,903,797 shares of
Stock at the fair market value at the time of exercise. The
Issuer and Saturn have reached an agreement in principle that
this option shall be deemed to have expired on the day the
Issuer's registration statement (33-99686) became effective.
(b) PERCENT OF CLASS:
See Cover Page Item 11.
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE:
See Cover Page Item 5.
(ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE:
See Cover Page Item 6. Saturn may be deemed to
share voting power over its 1,052,564 shares of
Stock with WAFR.
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION
OF:
See Cover Page Item 7.
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF:
See Cover Page Item 8. Saturn may be deemed to
share dispositive power over its 1,052,564 shares
of Stock with WAFR.
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CUSIP NO. 89234G1 13G Page 7 of 8 Pages
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Inapplicable.
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
Ismail Abudawood has the right to receive the dividends from,
and the proceeds from the sale of, the Stock held by Saturn
and WAFR.
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY:
Inapplicable.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Inapplicable.
Item 9. NOTICE OF DISSOLUTION OF GROUP:
Inapplicable.
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CUSIP NO. 89234G1 13G Page 8 of 8 Pages
Item 10. CERTIFICATION AND SIGNATURE:
After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certifies that the information set
forth in this statement is true, complete and correct.
SATURN INVESTMENTS, INC.
BY: /s/ AYMAN ABUDAWOOD FEBRUARY 19, 1997
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NAME: AYMAN ABUDAWOOD
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TITLE: PRESIDENT
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WAFR HOLDINGS N.V.
BY: /s/ AYMAN ABUDAWOOD FEBRUARY 19, 1997
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NAME: AYMAN ABUDAWOOD
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TITLE: AUTHORIZED REPRESENTATIVE
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