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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
------
Amereco, Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.001 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
02360P 10 4
-----------------------------------------------------
(CUSIP Number)
680 Atchison Way, Suite 800, Castle Rock Colorado 80104, (303) 688-5160
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 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-l(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [X]. (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 13a-l(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 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)
SEC 1746 (12-91)
<PAGE>
SCHEDULE 13D
CUSIP No. 02360P 10 4 PAGE 2 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WEI MING LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 2,183,888
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 399,834
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 2,183,888
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 399,834
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,283,633
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
74.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 3 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FU-MEI LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 1,051,443
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 1,051,443
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,283,633
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
74.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 4 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHIH-HUI LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 1,451,277
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 1,451,277
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,517,164
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 5 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHIH-FEN LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 1,051,443
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 1,051,443
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,525,052
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 6 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHIH-RU LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 1,051,443
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 1,051,443
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,443
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 7 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHIH-CHI LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 1,051,443
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 1,051,443
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,443
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 8 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PEI-YU LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 1,051,443
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 1,051,443
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,443
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 9 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHUN-CHING LU ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Dominican Republic and Taiwan
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 1,051,443
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 1,051,443
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,443
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 10 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EARL B. WING ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
USA
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 399,834
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 399,834
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,525,052
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 11 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JAMES H. WALDROP ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
USA
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 399,834
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 399,834
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,545,721
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 12 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MICHAEL E. DEE ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
USA
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 399,834
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 399,834
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,465,721
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 13 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GEORGIA RESOURCES, INC. 84-1247183
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
Nevada
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 2,183,888
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 0
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 2,183,888
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,683,888
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 14 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CATHAY GLOBAL INVESTMENTS, INC. 84-1176366
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
Nevada
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 399,834
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 0
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 399,834
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,465,721
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 15 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OMNIVEST AMERICAS, INC. 84-1257384
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
Nevada
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 0
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 0
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 0
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,893
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 16 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
W.M.L. SERVICES CORPORATION 84-1176365
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
Nevada
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 2,183,888
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 0
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 2,183,888
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,151,156
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 17 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
C.I.S. RESOURCES, Limited Liability Company 84-1225954
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
Colorado
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 1,051,443
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 0
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 1,051,443
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,443
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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. 02360P 10 4 PAGE 18 OF 41 PAGES
--------------- ----- -----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CONTINENTAL INTEGRATED SERVICES, INC. 84-1196845
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
Nevada
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NUMBER OF | 7 | SOLE VOTING POWER
SHARES | | 1,051,443
BENEFICIALLY |-----------------------------------------------------------------
OWNED BY | 8 | SHARED VOTING POWER
EACH | | 0
REPORTING |-----------------------------------------------------------------
WITH | 9 | SOLE DISPOSITIVE POWER
| | 1,051,443
|-----------------------------------------------------------------
| 10 | SHARED DIPOSITIVE POWER
| | 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,443
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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>
CUSIP No. 02360P 10 4 PAGE 19 OF 41 PAGES
--------------- ----- -----
This statement on Schedule 13D (this "Statement") is the initial filing by
the Reporting Persons, as defined below.
Item 1. Security and Issuer
This Statement relates to the Common Stock, $.001 par value per share (the
"Shares") of Amereco, Inc., a Utah corporation (the "Company" or "Amereco"). The
principal executive offices of the Company are located at 680 Atchison Way,
Suite 800, Castle Rock, Colorado 80104.
Item 2. Identity and Background
(a), (b), (c), (d) The following information sets forth the information
required by Item 1, paragraphs (a) through (d) of Schedule 13D:
Address. This Statement is filed by the following persons who are direct or
indirect beneficial owners of shares of common stock of Amereco. In each case,
the address for the persons described hereinafter is: 1401 Seventeenth Street,
Suite 1520, Denver, Colorado 80202. Their telephone number is 303-296-6789 (fax:
303-297-0609).
(i) Identification of Direct Beneficial Owners.
-------------------------------------------
Georgia Resources, Inc. ("GRI"), a Nevada corporation, is a private company
involved in making loans to, and arranging loans for, Amereco, and holding
shares of Amereco common stock and options to acquire such shares for its
principal, Wei- Ming Lu ("Mr. Lu"). The executive officers and directors of
GRI, and their principal occupations, are:
Wei-Ming Lu Private investor; President and Director of GRI;
Director of Cathay; President and Director of WML; and
Director of Americas. Cathay, WML and Americas are
Reporting Persons described in more detail below.
Chih-Hui Lu Private investor; Treasurer and Secretary of GRI; Vice
President, Secretary and Director of Cathay; Vice
President, Secretary and Treasurer of WML; Secretary,
Treasurer and Director of C.I.S.; Manager of Resources;
Secretary, Treasurer and Director of Americas. C.I.S.
and Resources are Reporting Persons described in more
detail below.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 20 OF 41 PAGES
--------------- ----- -----
Cathay Global Investments, Inc. ("Cathay"), a Nevada corporation, is a
private company involved in making and managing debt and equity investments
in the United States for its principal, Mr. Lu, and providing accounting
and financial reporting services for such investments. The principal
executive officers and directors of Cathay, and their principal
occupations, are:
James H. Waldrop Chief Executive Officer, President and Director of
Cathay; President of Americas.
Michael E. Dee Senior Vice President - Finance, Chief Financial
Officer, Treasurer, and Director of Cathay; Vice
President and Treasurer of Americas.
Chih-Hui Lu See GRI, above.
Earl B. Wing Vice President and Director of Cathay; Vice President
of WML.
Chih-Fen Lu Private investor; Vice President of Cathay; Vice
President of WML; Vice President and Director of C.I.S.
and Resources.
Wei-Ming Lu See GRI, above.
C.I.S. Resources Limited Liability Company ("Resources"), a Colorado
limited liability company, is a private company involved in making loans to
Amereco and holding common stock in Amereco for its indirect equity owners,
the Lu Family Investors and certain other unaffiliated people. Resources is
a member managed limited liability company. The members are Cathay (as to
0.1%) and C.I.S. (as to 99.9%).
Wei Ming Lu, individually -- See GRI, above
James H. Waldrop, individually -- See Cathay, above.
(ii) Identification of Indirect Beneficial Owners.
---------------------------------------------
Omnivest Americas, Inc. ("Americas"), a Nevada corporation wholly-owned by
Cathay, owns interests in Amereco through Cenote LLC, an unaffiliated
company over which no Reporting Person has any direct or indirect control.
WML (defined below) also indirectly owns shares of Amereco common stock
through Cenote. No Reporting Person controls or has the ability to control
investment or voting decisions of Cenote, LLC.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 21 OF 41 PAGES
--------------- ----- -----
Americas is a private company involved in making and managing debt and
equity investments in the United States and Mexico for its principal, Mr.
Lu. The executive officers and directors of Americas, and their principal
occupations, are:
Wei-Ming Lu See GRI, above.
Chih-Hui Lu See GRI, above.
James H. Waldrop See Cathay, above
Michael E. Dee See Cathay, above.
Fu-Mei Lu, Chih-Fen Lu, and Wei-Ming Lu indirectly own beneficial interests
in Amereco common stock as a result of their ownership of Riverbank
Resources, LLC ("Riverbank"), a Colorado limited liability company.
Information regarding these persons is contained below.
(iii) Entities Controlling the Direct Beneficial Owners.
--------------------------------------------------
W.M.L. Services Corporation ("WML"), a Nevada corporation, owns 99.9% of
the outstanding equity interest of GRI and 82% of the outstanding equity
interest in Cathay. WML is a private company involved in making and
managing debt and equity investments in the United States for its
principal, Mr. Lu. The executive officers and directors of WML, and their
principal occupations, are:
Wei-Ming Lu See GRI, above.
Chih-Hui Lu See GRI, above.
Chih-Fen Lu See Cathay, above.
Earl B. Wing See Cathay, above.
Continental Integrated Services, Inc. ("C.I.S."), a Nevada corporation,
owns 99.9% of the outstanding equity interest of Resources. C.I.S. is a
private company involved in making and managing investments in the United
States for its equity owners, the Lu Family Investors (defined below) and
certain other unaffiliated investors. The executive officers and directors
of C.I.S., and their principal occupations, are:
Fu-Mei Lu Private investor; President and Director of C.I.S.
Chih-Hui Lu See GRI, above.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 22 OF 41 PAGES
--------------- ----- -----
Chih-Fen Lu See Cathay, above.
Chih-Ru Lu Private investor; Vice President and Director of C.I.S.
Chih-Chi Lu Private investor; Vice President and Director of C.I.S.
Chun-Ching Lu Private investor; Vice President and Director of C.I.S.
Pei-Yu Lu Private investor; Vice President and Director of C.I.S.
Chao-Hui Lu Private investor; Vice President and Director of C.I.S.
Man Yin Lee Private investor; Vice President and Director of C.I.S.
(iv) Controlling Persons.
--------------------
Mr. Lu: Wei-Ming Lu is a controlling person of Amereco by virtue of: (A)
his direct and indirect control of 100% of the equity interests in WML
through various offshore entities; (B) his control of the Lu Family
Investors (defined below) through his patriarchical position and his
financial relationships; and (C) his position as a director or executive
officer of WML, Cathay, GRI, and Americas.
The Lu Family Investors (as named below) are each controlling persons of
Amereco by virtue of: (A) their respective direct and indirect holdings of
77.8% of the outstanding equity interest of C.I.S.; (B) certain of them
(referred to hereinafter individually by their names) being directors or
executive officers of certain entities deemed to be in control of Amereco;
and (C) each of them being an affiliate of Mr. Lu.
Mr. Lu's wife, Fu-Mei Lu; and
Mr. Lu's six children, Chih-Hui Lu, Chih-Fen Lu, Chih-Ru Lu, Chih-Chi Lu,
Chun-Ching Lu, and Pei-Yu Lu.
(v) Together, each of the foregoing persons may be deemed to control
Amereco. Mr. Lu, himself, may be deemed to be a single controlling person.
Each of Wei- Ming Lu and the Lu Family Investors are citizens of the
Dominican Republic and Taiwan; each of the Lu Family Investors is a
permanent resident of the United States of America and residents of
Colorado. Messrs. Wing, Waldrop, and Dee are citizens of the United States
and residents of the state of Colorado.
By signing this Statement, each Reporting Person agrees that this Statement
is filed on its, his or her behalf.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 23 OF 41 PAGES
--------------- ----- -----
(e) During the last five years, none of the Reporting Persons, their
executive officers, directors or managers, as applicable, has been convicted in
any criminal proceedings excluding traffic violations or similar misdemeanors.
(f) During the last five years, none of the Reporting Persons, their
executive officers, directors or managers, as applicable, has been 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
violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
The total amount of funds required by the following entities to acquire the
Shares of Amereco common stock reported herein was as described herein, and were
provided from working capital, indirectly received as an investment from the
equity owners thereof from their personal funds. Except as described with
respect to Resources, no funds were borrowed for such purpose.
Table 1
Direct Beneficial Ownership
Name shares options
- ----------------------------------------------------------------------
GRI(a) 2,183,888 500,000
Cathay(b) 399,834 1,063,994
Americas(c) 1,893 0
WML(d) 1,547 0
Resources(e) 1,051,443 0
Wei-Ming 2,629 60,000
Lu(f,g)
Fu-Mei Lu(f) 10,517 0
Chih-Fen Lu(f) 7,888 0
James 0 80,000
Waldrop(h)
<PAGE>
CUSIP No. 02360P 10 4 PAGE 24 OF 41 PAGES
--------------- ----- -----
(a) From March 1993 through June 1995, GRI loaned $4,634,214 to Omnivest
Resources, LP (the "Omnivest Partnership"), a limited partnership which was
liquidated in June 1996. At the time of liquidation, the assets of the
Omnivest Partnership were contributed to Omnivest Resources, Inc., a
wholly-owned subsidiary of Amereco. Also at that time, the GRI loan was
converted into 2,017,188 shares of Amereco common stock. Additionally, GRI
is to receive 166,700 Shares and an option to acquire up to 500,000 Shares
as consideration for arranging for VM Mortgage Lending Corporation
provision of collateral, as discussed at Item 6, below. These latter shares
and options have not yet been issued.
All funds used by GRI to acquire the Amereco common stock were from
corporate working capital, provided directly or indirectly from personal
funds of Wei-Ming Lu.
(b) Cathay received 91,836 shares as a fee for making and then extending a
$350,000 loan to Amereco in September 1996 and December 1996, respectively.
In October 1995, Amereco granted options to purchase common 60,000 shares
of stock to Cathay and an additional 340,000 options to others (who were
then affiliated with Cathay) for acting as agent for GRI, Resources and
other investors in connection with making loans to the Omnivest
Partnership. Subsequently, one of the recipients reassigned to Cathay
80,000 options. These options are exercisable at $4.25 per share through
December 31, 1999.
On April 17, 1997, under an oral agreement between Cathay and Amereco
(which is in the process of being documented), Cathay renewed and extended
several debt obligations owed to Cathay by Amereco which were then past due
(totaling $947,619) and agreed to provide Amereco with a $900,000 letter of
credit, as more fully described below in Item 6. As a result, Cathay is to
receive an arrangement fee including 307,998 shares of Amereco common stock
and five year options to purchase up to 923,994 shares at $2.00 per share.
These shares and options have not yet been issued.
The funds utilized by Cathay, to make the loan to Amereco were working
capital provided directly or indirectly from personal funds of Wei-Ming Lu.
(c) Americas beneficially owns 1,893 shares of Amereco common stock as a result
of its 7.1% ownership of Cenote, LLC ("Cenote"), a Colorado limited
liability company. Cenote owns a total of 26,667 shares of Amereco common
stock. No Reporting Person controls or has the ability to control
investment or voting decisions of Cenote, LLC. Americas acquired its
investment in Cenote in November 1994 by paying $50,000. The funds utilized
by Americas to acquire its investment in Cenote were working capital
provided directly or indirectly from personal funds of Wei-Ming Lu.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 25 OF 41 PAGES
--------------- ----- -----
(d) WML indirectly owns 1,547 shares of Amereco common stock as a result of its
5.8% ownership of Cenote. No Reporting Person controls or has the ability
to control investment or voting decisions of Cenote, LLC. WML acquired its
investment in Cenote in November 1994 by paying $40,000. The funds utilized
by WML to acquire its investment in Cenote were working capital provided
directly or indirectly from personal funds of Wei-Ming Lu.
(e) From March 1993 through September 1994, Resources made loans of $2,696,000
to the Omnivest Partnership, including $1,200,000 which Resources borrowed
from an affiliated entity. These loans were converted to 1,051,443 shares
of Amereco common stock in connection with the liquidation of the Omnivest
Partnership described above. The loans, made from working capital provided
directly or indirectly from personal funds of Wei-Ming Lu, including
$800,000 of the borrowed funds, totaled $2,296,000 of the $2,696,000
(f) Fu-Mei Lu, Chih-Fen Lu, and Wei-Ming Lu indirectly own beneficial interests
in Amereco common stock as a result of their ownership of Riverbank.
Riverbank owns a total of 90,667 shares of Amereco common stock. No
Reporting Person controls or has the ability to control investment or
voting decisions of Riverbank.
Interest in Riverbank Allocable shares of Amereco
Fu-Mei Lu 11.6% 10,517
Chih-Fen Lu 8.7% 7,888
Wei-Ming Lu* 2.9% 2,629
* Through a Trust which Mr. Lu controls.
Fu-Mei Lu, Chih-Fen Lu, and Wei-Ming Lu acquired their respective
investment in Riverbank in April 1996 by paying $40,000, $30,000, and
$10,000, respectively. The funds utilized by them to acquire their
investment in Riverbank were personal funds.
(g) As described above under note (b) [Cathay], in October 1995, Amereco
granted options to purchase an aggregate of 400,000 shares of Amereco
common stock to Cathay and several persons who were then affiliated with
Cathay as consideration for acting as agent for GRI, Resources and other
investors in connection with making loans to the Omnivest Partnership. Of
these, Mr. Lu received 60,000 options. These options are exercisable at
$4.25 per share through December 31, 1999. Mr. Lu has expended no personal
funds in connection with the acquisition or ownership of these options.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 26 OF 41 PAGES
--------------- ----- -----
(h) As described above under note (b) [Cathay], in October 1995, Amereco
granted options to purchase an aggregate of 400,000 shares of Amereco
common stock to Cathay and several persons who were then affiliated with
Cathay as consideration for acting as agent for GRI, Resources and other
investors in connection with making loans to the Omnivest Partnership. Of
these, Mr. Waldrop received 80,000 options. These options are exercisable
at $4.25 per share through December 31, 1999. Mr. Waldrop has expended no
funds with respect to the acquisition or ownership of these options.
Item 4. Purpose of Transaction
GRI, Cathay, WML, Resources, and the individual investors described above
acquired Shares for investment purposes, and in connection therewith acquired a
controlling interest in the voting shares of Amereco.
Depending upon their evaluation of the Company's business and prospects,
and upon future performance (including, but not limited to, performance of the
Shares in the market, availability of funds, alternative uses of funds, and
money, stock market and general economic conditions), any one or more of the
Reporting Persons may from time to time purchase additional shares, and any one
or more of the Reporting Persons may from time to time dispose of all or a
portion of the Shares held by such person. The Reporting Persons may, in their
discretion, cease buying or selling Shares at any time. Any such additional
purchases or sales of the Shares may be in open market or privately-negotiated
transactions or otherwise.
Cathay and an affiliate of the Reporting Persons, VM Mortgage Lending
Corporation are creditors of Amereco. Certain assets of Amereco are pledged to
secure the repayment of the loan to Cathay as described in Item 3, above. If the
Company defaults on its obligations under one or more of these lending
arrangements, the creditor may initiate litigation to collect the debt from the
Company, which litigation may involve an attachment of, or (to the extent a
security interest exists) a foreclosure action against the Company's assets.
Except as otherwise stated herein, the Reporting Persons, their executive
officers, directors or managers, if applicable, do not have any current plans or
proposals which relate to or would result in:
(a) The acquisition by any person of additional securities of the Company, or
the disposition of securities of the Company.
(b) An extraordinary corporate transaction, such as a merger, reorganization or
liquidation, involving the Company or any of its subsidiaries (except to
the extent the Company may default on indebtedness as described above).
<PAGE>
CUSIP No. 02360P 10 4 PAGE 27 OF 41 PAGES
--------------- ----- -----
(c) A sale or transfer of a material amount of assets of the Company or any of
its subsidiaries (except to the extent the Company may default on
indebtedness, as described above).
(d) Any change in the present board of directors or management of the Company,
including any plans or proposals to change the number or term of directors
or to fill any existing vacancies on the board. In that connection, it
should be noted that three representatives of the Reporting Persons were
members of the Board of Directors of the Company from June 1996 until
January 1, 1997, and two persons thereafter until they resigned in February
1997.
(e) Any material change in the present capitalization or dividend policy of the
Company.
(f) Any other material change in the Company's business or corporate structure.
(g) Changes in the Company's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control of the
Company by any person;
(h) Causing a class of securities of the Company to be delisted from a national
securities exchange or cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities
association.
(i) A class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended. Or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in the Securities of the Issuer
(a) The following tables set forth information regarding the direct and
indirect beneficial ownership of the reporting persons. The most recent
information available to the Reporting Persons indicates that Amereco has
5,007,616 shares of its Common Stock outstanding as of December 31, 1996.
The Reporting Persons are aware of an additional 474,698 shares issued
subsequent to December 31, 1996.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 28 OF 41 PAGES
--------------- ----- -----
<TABLE>
<CAPTION>
Table 2
Direct and Indirect Ownership
WEI-MING LU
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
Wei-Ming 60,000 2,629 0 Table 1
Lu (a) note (f)
1,547 0 WML (b)
Table 13
(c) 401,727 1,063,994 Cathay
Table 11
(d) 2,183,888 500,000 GRI
Table 10
(e) 1,051,443 0 Resources
Table 14
(f) 10,517 0 Fu-Mei Lu
Table 3
(g) 7,888 0 Chih-Fen Lu
Table 5
</TABLE>
(a) Mr. Lu's direct ownership is described in note (g) to Table 1 of Item 3,
above.
(b) Mr. Lu controls WML by reason of his ownership of 100% of WML through
certain offshore entities, and by reason of him being the sole director of
WML.
(c) Mr. Lu controls Cathay by reason of his ownership, through WML and certain
offshore entities, of 82% of the voting stock of Cathay, and by reason of
him being on the Board of Directors of Cathay.
(d) Mr. Lu controls GRI by reason of his ownership, through WML and certain
offshore entities, of 100% of the voting stock of GRI, and by reason of him
being the sole director of GRI.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 29 OF 41 PAGES
--------------- ----- -----
(e) Mr. Lu controls Resources by reason of his patriarchal position and
financial relationships with respect to the Lu Family Investors who own
77.8% of the equity of Resources, and who constitute seven of the nine
directors of C.I.S, parent of Resources.
(f) Mr. Lu is deemed to beneficially own the shares held in the name of his
wife, Fu-Mei Lu by reason of their marital relationship.
(g) Mr. Lu is deemed to beneficially own the shares held in the name of his
daughter, Chih-Fen Lu, by reason of his patriarchal position and financial
relationships with her.
<TABLE>
<CAPTION>
Table 3
Direct and Indirect Ownership
FU-MEI LU
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C> <C>
Fu-Mei Lu 0 0 10,517 0 Table 1,
(a) note (f)
3,649,122 1,623,994 Wei-Ming Lu
(b)
</TABLE>
(a) Fu-Mei Lu's indirect ownership is described in note (f) to Table 1 of Item
3, above.
(b) Fu-Mei Lu is Wei-Ming Lu's wife and, therefore, his ownership is
attributable to her.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 30 OF 41 PAGES
--------------- ----- -----
<TABLE>
<CAPTION>
Table 4
Direct and Indirect Ownership
CHIH-HUI LU
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
Chih-Hui 0 0 1,051,443 0 Resources
Lu (b)
(a) Table 14
401,727 1,063,994 Cathay (c)
Table 11
</TABLE>
(a) Chih-Hui Lu has no direct ownership of Amereco common stock.
(b) Chih-Hui Lu is a director of C.I.S., 99.9% owner of Resources and,
therefore all of Resources' ownership may be attributed to her.
(c) Chih-Hui Lu is a director of Cathay and, therefore, may be deemed to share
in the beneficial ownership of the Amereco common stock owned by Cathay.
<TABLE>
<CAPTION>
Table 5
Direct and Indirect Ownership
CHIH-FEN LU
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C> <C>
Chih-Fen 0 0 7,888 0 Table 1,
Lu (a) (a)note (f)
1,051,443 0 Resources
(b)
Table 14
401,727 1,063,994 Earl Wing
(c)
Table 7
</TABLE>
<PAGE>
CUSIP No. 02360P 10 4 PAGE 31 OF 41 PAGES
--------------- ----- -----
(a) Chih-Fen Lu's indirect ownership is described in note (f) to Table 1 of
Item 3, above.
(b) Chih-Fen Lu is a director of C.I.S., 99.9% owner of Resources and,
therefore, all of Resources' ownership may be attributed to her.
(c) Chih-Fen Lu is Earl Wing's wife and, therefore, his ownership is
attributable to her.
<TABLE>
<CAPTION>
Table 6
Direct and Indirect Ownership
OTHER LU FAMILY INVESTORS
(See Tables 3, 4, and 5 for certain of the Lu Family Investors)
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
Chih-Ru Lu 0 0 1,051,443 0 Resources
Table 14
Chih-Chi Lu 0 0 1,051,443 0 Resources
Table 14
Chun-Ching 0 0 1,051,443 0 Resources
Lu Table 14
Pei-Yu Lu 0 0 1,051,443 0 Resources
Table 14
</TABLE>
Each of the four people named in the table above are children of Wei-Ming
Lu. None of them have any direct ownership of Amereco common stock; their
indirect ownership derives from their ownership of an aggregate of 77.8% (with
Fu-Mei Lu, Chih-Hui Lu, and Chih-Fen Lu) of Resources, and each of them being
members of the Board of Directors of C.I.S., 100% owner of Resources. Since each
is a director of C.I.S., each may be deemed to share in the beneficial ownership
of the Amereco common stock owned by Resources.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 32 OF 41 PAGES
--------------- ----- -----
<TABLE>
<CAPTION>
Table 7
Direct and Indirect Ownership
EARL B. WING
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
Earl Wing 0 0 1,059,331 0 Chih-Fen Lu
(a) (b) Table 5
401,727 1,063,994 Cathay (c)
Table 11
</TABLE>
(a) Mr. Wing owns no Amereco common stock directly.
(b) Chih-Fen Lu is Earl Wing's wife, and therefore her ownership is
attributable to him.
(c) Mr. Wing is a director of Cathay and, therefore, may be deemed to share in
the beneficial ownership of the Amereco common stock owned by Cathay.
<TABLE>
<CAPTION>
Table 8
Direct and Indirect Ownership
JAMES H. WALDROP
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
James 0 80,000 401,727 1,063,994 Cathay(b)
Waldrop Table 11
(a)
</TABLE>
(a) Mr. Waldrop's direct ownership is described in note (h) to Table 1 of Item
3, above.
(b) Mr. Waldrop is a director of Cathay and, therefore, may be deemed to share
in the beneficial ownership of the Amereco common stock owned by Cathay.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 33 OF 41 PAGES
--------------- ----- -----
<TABLE>
<CAPTION>
Table 9
Direct and Indirect Ownership
MICHAEL E. DEE
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Ownership
<S> <C> <C> <C> <C>
Michael Dee 0 0 401,727 1,063,994 Cathay(b)
(a) Table 11
</TABLE>
(a) Mr. Dee owns no Amereco common stock directly.
(b) Mr. Dee is a director of Cathay and, therefore, may be deemed to share in
the beneficial ownership of the Amereco common stock owned by Cathay.
<TABLE>
<CAPTION>
Table 10
Direct and Indirect Ownership
GEORGIA RESOURCES, INC.
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
GRI (a) 2,183,888 500,000 0 0 n/a
</TABLE>
(a) GRI's direct ownership is described in note (a) to Table 1 of Item 3,
above.
<TABLE>
<CAPTION>
Table 11
Direct and Indirect Ownership
CATHAY GLOBAL INVESTMENTS, INC.
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
Cathay (a) 399,834 1,063,994 1,893 0 Americas (b)
Table 12
</TABLE>
<PAGE>
CUSIP No. 02360P 10 4 PAGE 34 OF 41 PAGES
--------------- ----- -----
(a) Cathay's direct ownership is described in note (b) to Table 1 of Item 3,
above.
(b) Cathay owns 100% of the equity of Americas and, therefore, may be deemed to
control Americas.
<TABLE>
<CAPTION>
Table 12
Direct and Indirect Ownership
OMNIVEST AMERICAS, INC.
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
Americas (a) 0 0 1,893 0 n/a
</TABLE>
(a) Americas' indirect ownership is described in note (c) to Table 1 of Item 3,
above.
<TABLE>
<CAPTION>
Table 13
Direct and Indirect Ownership
W.M.L. SERVICES CORPORATION
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C> <C>
WML (a) 0 0 1,547 0 Table 1,
note (d)
0 401,727 1,063,994 Cathay (b)
Table 11
2,183,888 00,000 GRI (c)
Table 10
</TABLE>
(a) WML's indirect ownership is described in note (d) to Table 1 of Item 3,
above.
(b) WML owns 82% of the equity of Cathay and, therefore, may be deemed to
control Cathay.
(c) WML owns 99.9% of the equity of GRI and, therefore, may be deemed to
control GRI.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 35 OF 41 PAGES
--------------- ----- -----
<TABLE>
<CAPTION>
Table 14
Direct and Indirect Ownership
C.I.S. RESOURCES LIMITED LIABILITY COMPANY
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
Resources (a) 1,051,443 0 0 0 n/a
</TABLE>
(a) Resources' direct ownership is described in note (e) to Table 1 of Item 3,
above.
<TABLE>
<CAPTION>
Table 15
Direct and Indirect Ownership
CONTINENTAL INTEGRATED SERVICES, INC.
Name Direct Direct Indirect Indirect Source of
Notes Ownership Options Ownership Options Indirect
Ownership
<S> <C> <C> <C> <C>
C.I.S. (a) 0 0 1,051,443 0 Resources
(b)
</TABLE>
(a) C.I.S. has no direct ownership in Amereco common stock.
(b) C.I.S. owns 99.9% of the equity of Resources and, therefore, may be deemed
to control Resources.
(b) Each of the foregoing persons has the power to vote and direct the
disposition of the shares of Amereco common stock directly owned by it.
No person has the power to vote or direct the disposition of any shares of
Amereco common stock subject to an option until such time as the option is
exercised.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 36 OF 41 PAGES
--------------- ----- -----
The equity holders of Riverbank and Cenote do not have the power to direct
any investment or voting decisions with respect to the Amereco common
stock.
(c) During the past sixty days, GRI obtained 166,667 shares as an arrangement
fee in connection with arranging $1,000,000 financing for the Company. As
further consideration for such financing, GRI received 500,000 warrants to
acquire the Company's common stock at $2.00 per share, exercisable through
March 17, 2002. Both the shares and the warrants are subject to a
registration rights agreement.
(d) GRI, Cathay, Resources, Riverbank, Phoenix and Cenote each has the right to
receive and the power to direct the receipt of dividends from, and the
proceeds from the sale of, the Shares held by it.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
1. March 17, 1997 Transaction -- Effective March 17, 1997 GRI and Amereco
entered into a Stock Option Agreement under which GRI was paid a fee of 166,700
Shares for arranging for VM Mortgage Lending Corporation ("VM"), a Nevada
corporation, an affiliate of GRI, to provide additional collateral to permit
additional borrowing under Amereco's loan agreement with Congress Financial (the
"Arrangement Fee Shares"). In addition to the arrangement fee, GRI was granted a
five-year option to purchase up to 500,000 Shares for $2.00 per share (the
"Option Shares").
On March 17, 1997 GRI and Amereco entered into a Registration Rights
Agreement under which Amereco will file and cause to be effective, one time only
after March 17, 1998 and prior to April 1, 2002, upon the written request of
GRI, a registration statement for the offering and resale of the Arrangement Fee
Shares and the Option Shares. In addition, the agreement provides for concurrent
("piggyback") registration, if Amereco proposes to register any Shares prior to
April 1, 2002.
2. Unpaid Notes -- On September 26, 1996 Amereco made a promissory note in
favor of Cathay in the principal amount of $350,000 with interest accruing at
the rate of 13%. The note matured on March 26, 1997. At that time, accrued and
unpaid interest was added to principal, and the resulting principal amount began
to accrue interest at 16%. This loan was paid in full on April 17, 1997. Amereco
made additional promissory notes in favor of Cathay as summarized in the
following table. These are collectively referred to as the "Unpaid Cathay
Notes."
<PAGE>
CUSIP No. 02360P 10 4 PAGE 37 OF 41 PAGES
--------------- ----- -----
Date Principal Maturity Rate
---- --------- -------- ----
11/11/96 $200,000 2/28/97 10.25%
12/13/96 $179,000 3/13/97 10.25%
12/24/96 $200,000 3/13/97 10.25%
12/30/97 $170,000 3/13/97 10.25%
1/13/97 $ 55,000 3/13/97 10.25%
$804,000
========
Effective January 10, 1996, Amereco made a promissory note in favor of VM
in the principal amount of $98,000. The note bears interest at the rate of 10%
and matured on January 10, 1997. This is referred to as the "Unpaid VM Note."
Amereco and Cathay reached an oral agreement on April 17, 1997, to renew
and extend the Unpaid Cathay Notes and the Unpaid VM Note (collectively referred
to as the "Unpaid Notes") under the following terms and conditions:
Principal Amount Equal to principal and accrued interest due under the
Unpaid Notes totaling $947,619.
Interest Rate 2.5% over prime
Maturity April 17, 1999
Letter of Credit $900,000 letter of credit to be arranged by Cathay for
the benefit of Omnivest Resources, Inc., wholly-owned
subsidiary of Amereco.
Total Credit Facility $1,847,619
Arrangement Fee 307,998 shares of Amereco common stock and five year
options to purchase 923,994 shares.
Collateral Second lien on land and buildings, machinery,
equipment, accounts receivable, inventory, furniture,
fixtures, furnishings, and personal property.
This loan restructuring has not yet been documented, but the parties have
entered into a term sheet stating the foregoing.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 38 OF 41 PAGES
--------------- ----- -----
Item 7. Materials to be Filed as Exhibits.
None.
<PAGE>
CUSIP No. 02360P 10 4 PAGE 39 OF 41 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.
May 8, 1997 GEORGIA RESOURCES, INC.
By /S/ WEI-MING LU
------------------------------------------
President
May 8, 1997 W.M.L. SERVICES CORPORATION
By /S/ WEI-MING LU
-----------------------------------------
President
May 8, 1997 CATHAY GLOBAL INVESTMENTS, INC.
By /S/ CHIH-HUI LU
------------------------------------------
President
May 8, 1997 C.I.S. RESOURCES, LIMITED LIABILITY
COMPANY, by Continental Integrated Services,
Inc.,
Member
By /S/ FU-MEI LU
-----------------------------------------
President
May 8, 1997 CONTINENTAL INTEGRATED SERVICES, INC.
By /S/ FU-MEI LU
------------------------------------------
President
<PAGE>
CUSIP No. 02360P 10 4 PAGE 40 OF 41 PAGES
--------------- ----- -----
May 8, 1997 OMNIVEST AMERICAS, INC.
By /S/ JAMES H. WALDROP
------------------------------------------
President
May 8, 1997
/S/ WEI-MING LU
--------------------------------------------
WEI-MING LU
May 8, 1997 /S/ FU-MEI LU
--------------------------------------------
FU-MEI LU
May 8, 1997 /S/ CHIH-HUI LU
--------------------------------------------
CHIH-HUI LU
May 8, 1997
/S/ CHIH-FEN LU
---------------------------------------------
CHIH-FEN LU
May 8, 1997 /S/ CHIH-RU LU
---------------------------------------------
CHIH-RU LU
May 8, 1997
/S/ CHIH-CHI LU
---------------------------------------------
CHIH-CHI LU
May 8, 1997 /S/ CHUN-CHING LU
---------------------------------------------
CHUN-CHING LU
May 8, 1997
/S/ PEI-YU LU
---------------------------------------------
PEI-YU LU
<PAGE>
CUSIP No. 02360P 10 4 PAGE 41 OF 41 PAGES
--------------- ----- -----
May 8, 1997
/S/ EARL B. WING
--------------------------------------------
EARL B. WING
May 8, 1997 /S/ JAMES H. WALDROP
--------------------------------------------
JAMES H. WALDROP
May 8, 1997
/S/ MICHAEL E. DEE
--------------------------------------------
MICHAEL E. DEE
