SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934 (Amendment No. 2)
AVESIS INCORPORATED
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(Name of issuer)
COMMON STOCK
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(Title of Class of Securities)
053650107
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(CUSIP Number)
Sam Oolie, Oolie Enterprises
21 Industrial Avenue, Upper Saddle River, NJ 07458 (201) 818-1291
with copies to:
Joel H. Alperstein, Avesis Incorporated
3724 N. Third St., Suite 300, Phoenix, AZ 85012
(602) 241-3400
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(Name, Address and Telephone Number of Person
Authorized to Receive Notes and Communications)
May 27, 1998
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(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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
(Continued on following page(s))
Page 1 of 5 Pages
<PAGE>
CUSIP No. 053650107 Page 2 of 5 Pages
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1 NAME OF REPORTING PERSONS SS. OR I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSON
Sam Oolie
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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Number of 7 SOLE VOTING POWER
Shares 560,251
Beneficially ------------------------------------------------------------
Owned by 8 SHARED VOTING POWER
Each
Reporting ------------------------------------------------------------
Person 9 SOLE DISPOSITIVE POWER
With 560,251
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10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
560,251
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.15%
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14 TYPE OF REPORTING PERSON
IN
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<PAGE>
Item 1. Security and Issuer.
This Statement relates to Common Stock of Avesis Incorporated (the
"Issuer"). The principal executive offices of the Issuer are located at 3724
North Third Street, Suite 300, Phoenix, Arizona 85012.
Item 2. Identity and Background.
This statement is being filed by:
(a) Sam Oolie
(b) Filing person's address: Oolie Enterprises 21 Industrial
Avenue, Upper Saddle River, NJ 07458
(c) Mr. Oolie is the Chairman of NoFire Technologies, Inc., a
manufacturer of fire retardant coatings and textiles, and is
the Chairman of Oolie Enterprises, an investment company. Mr.
Oolie has served on the Board of Directors of the Issuer since
March 1985.
(d) During the last five years, the filing person has not been
convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) During the last five years, the filing person has not been and
is not subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) Mr. Oolie is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
Pursuant to an Offer to Exchange for the Issuer's Class A, Nonvoting
Cumulative Convertible Preferred Stock, Series 2 ("Series 2 Shares"), dated May
27, 1998, all tendering shareholders received the Issuer's Class A, Senior
Nonvoting Cumulative Convertible Preferred Stock, Series A ("Series A Shares"),
at a one share to one share exchange rate. Mr. Oolie tendered 24,023 Series 2
Shares, convertible into 60,058 shares of the Common Stock of the Issuer, and
received 24,023 Series A Shares, which as of May 27, 1998 were convertible into
240,230 shares of the Common Stock of the Issuer. There were no funds or other
consideration used to tender the Series 2 Shares in the Offer to Exchange.
Page 3 of 5 Pages
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Item 4. Purpose of Transaction.
All of the Issuer's shares held by Mr. Oolie are held for investment
purposes only. Except as described above and that Mr. Oolie is a Director of the
Issuer, he has no present plan or proposal that relates to or would result in
any of the actions described in clauses (a) through (j) of Item 4 of Schedule
13D, although he may from time to time in the future acquire or sell shares of
Common Stock or securities convertible into Common Stock. At present, Mr. Oolie
contemplates that such additional shares, if any, would also be purchased for
investment purposes only.
Item 5. Interest In Securities of the Issuer.
(a) The aggregate number and percentage of Issuer Common Stock
beneficially owned by Mr. Oolie is 560,251 and 12.15%, respectively.
(b) See Items 7 through 10 on the Cover Pages of this Schedule 13D.
(c) Mr. Oolie effected the following transaction since 60 days prior to
the date of the event which requires filing of this statement:
(d) Pursuant to an Offer to Exchange for the Issuer's Class A,
Nonvoting Cumulative Convertible Preferred Stock, Series 2 ("Series 2 Shares"),
dated May 27, 1998, all tendering shareholders received the Issuer's Class A,
Senior Nonvoting Cumulative Convertible Preferred Stock, Series A ("Series A
Shares"), at a one share to one share exchange rate. Mr. Oolie tendered 24,023
Series 2 Shares, convertible into 60,058 shares of the Common Stock of the
Issuer, and received 24,023 Series A Shares, which as of May 27, 1998 were
convertible into 240,230 shares of the Common Stock of the Issuer. There were no
funds or other consideration used to tender the Series 2 Shares in the Offer to
Exchange.
(e) Not applicable.
(f) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
Not applicable.
Item 7. Material to be Filed as Exhibits.
None
Page 4 of 5 Pages
<PAGE>
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.
June 17, 1998
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/s/ Sam Oolie
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Sam Oolie
Page 5 of 5 Pages