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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Quipp, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
748802-10
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(CUSIP Number)
Robert T. Montague
Robins, Kaplan, Miller & Ciresi L.L.P.
800 LaSalle Avenue, Suite 2800
Minneapolis, MN 55408
612-349-8500
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(Name, Address and Telephone Number of Person Authorized
to receive Notices and Communications)
June 23, 2000
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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 Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page should 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).
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CUSIP No. 748802-10
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(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above
Persons
Pyramid Trading Limited Partnership 36-3723624
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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) Source of Funds
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
Illinois
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Number of (7) Sole Voting Power 0 shares
Shares Bene- ----------------------------------------------------------------
ficially (8) Shared Voting Power 118,838 shares
Owned by ----------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 0 shares
ing Person ----------------------------------------------------------------
With (10) Shared Dispositive Power 118,838 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
118,838 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
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(13) Percent of Class Represented by Amount in Row (11)
6.3%
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(14) Type of Reporting Person (See Instructions)
BD, PN, IV
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CUSIP No. 748802-10
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(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above
Persons
Oakmont Investments, LLC 36-3996171
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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) Source of Funds
N/A
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
Illinois
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Number of (7) Sole Voting Power 0 shares
Shares Bene- -----------------------------------------------------------------
ficially (8) Shared Voting Power 118,838 shares
Owned by -----------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 0 shares
ing Person -----------------------------------------------------------------
With (10) Shared Dispositive Power 118,838 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
118,838 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
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(13) Percent of Class Represented by Amount in Row (11)
6.3%
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(14) Type of Reporting Person (See Instructions)
CO, IV
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CUSIP No. 748802-10
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(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above
Persons
Daniel Asher ###-##-####
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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) Source of Funds
N/A
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
United States
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Number of (7) Sole Voting Power 0 shares
Shares Bene-
ficially (8) Shared Voting Power 118,838 shares
Owned by
Each Report- (9) Sole Dispositive Power 0 shares
ing Person
With (10) Shared Dispositive Power 118,838 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
118,838 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
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(13) Percent of Class Represented by Amount in Row (11)
6.3%
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(14) Type of Reporting Person (See Instructions)
IN
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CUSIP No. 748802-10
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ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this Statement on Schedule 13D
relates is the common stock, without par value (the "Common Stock"), of Quipp,
Inc., a Florida corporation (the "Company"). The principal executive offices of
the Company are located at 4800 N.W. 157th Street, Miami, FL 33014.
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed by Pyramid Trading Limited Partnership
("PT"), Oakmont Investments, LLC, the general partner of PT ("OI") and Daniel
Asher, Manager of OI and individually ("DA"). PT, OI and DA are collectively
referred to herein as the "Reporting Persons."
The following information relates to PT:
(i) Name: Pyramid Trading Limited Partnership
(ii) State of Organization: Illinois
(iii) Principal Business: Broker-Dealer registered on CBOE
(iv) Principal Business and Office Address: 440 S. LaSalle Street,
Chicago, Illinois 60605
(v) Information required by clauses (d) and (e) of Item 2 of
Schedule 13D: None
The following information relates to OI:
(i) Name: Oakmont Investments, LLC
(ii) State of Organization: Illinois
(iii) Principal Business: Investments
(iv) Principal Business and Office Address: 440 S. LaSalle Street,
Chicago, Illinois 60605
(v) Information required by clauses (d) and (e) of Item 2 of
Schedule 13D: None
The following information relates to DA:
(a) Name: Daniel Asher
(b) Business Address: 440 S. LaSalle Street, Suite 700, Chicago, IL
60605
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CUSIP No. 748802-10
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(c) Principal Occupation: Private Investor
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: United States
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
From 02/02/00 to 06/23/00, PT purchased an aggregate of 118,838 shares of
Common Stock for an aggregate consideration of $1,924,587 (not including
brokerage commissions). PT acquired such shares using working capital.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons have acquired the Common Stock described herein in
order to obtain an equity position in the Company.
The Reporting Persons presently intend to seek representation on the Board
of Directors of the Company and may determine to seek control of the Company.
The Reporting Persons do not presently intend to make a proposal to the Company
for a merger or business combination. The Reporting Persons may acquire
additional shares of Common Stock and may enter into arrangements with third
parties who may be interested in joining with the Reporting Persons to acquire
control of the Company.
The Reporting Persons may attempt to dispose of the Common Stock in the
open market, in privately negotiated transactions or otherwise.
Depending upon the course of action that the Reporting Persons pursue, the
possible activities of the Reporting Persons are subject to change at any time
and there is no assurance that the Reporting Persons will purchase additional
Common Stock or change its present intent to seek representation on the Board of
Directors. Except as set forth above, the Reporting Persons have no present
plans or intentions which would result in or relate to any of the transactions
described in Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of June 23, 2000, the Reporting Persons beneficially owned the
amounts of Common Stock respectively set forth below. The percentage set forth
below represents the percentage of the outstanding shares of Common Stock based
on 1,887,184 shares outstanding as of March 31, 2000 as set forth in the
Company's Form 10Q for the quarter ended March 31, 2000.
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CUSIP No. 748802-10
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<TABLE>
<CAPTION>
Reporting Shares of Percent of
Persons Common Stock Outstanding Common Stock
------- ------------ ------------------------
<S> <C> <C>
PT, OI, DA 118,838 6.3%
</TABLE>
(b) The information set forth in Items 7 through 11 of the cover pages
hereto is incorporated herein by reference.
(c) The information concerning transactions in the Common Stock effected by
the Reporting Persons during the past sixty (60) days is set forth in Appendix A
hereto and incorporated herein by reference. All of the transactions were open
market transactions.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIP WITH RESPECT TO
THE SECURITIES OF THE ISSUER
NONE
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Agreement as of June 23, 2000 by and among the signatories of this
Statement on Schedule 13D with respect to its filing
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CUSIP No. 748802-10
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SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: June 23, 2000 PYRAMID TRADING LIMITED PARTNERSHIP
BY OAKMONT INVESTMENTS, LLC ITS GENERAL PARTNER
BY /S/ Daniel Asher
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Daniel Asher, Manager
Oakmont Investments, LLC
OAKMONT INVESTMENTS, LLC
BY /S/ Daniel Asher
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Daniel Asher, Manager
/S/ Daniel Asher
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DANIEL ASHER
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APPENDIX A
Transactions By the Reporting Persons in
Quipp, Inc. Common Stock During the Past 60 Days
PYRAMID TRADING LIMITED PARTNERSHIP
<TABLE>
<CAPTION>
Date # of Shares Bought Price Per Share ($) Total Cost ($)*
---- ------------------ ------------------- --------------
<S> <C> <C> <C>
04/25/00 200 17.0000 3,400
05/03/00 200 17.0000 3,400
05/15/00 100 17.4375 1,744
05/15/00 1,900 17.5000 33,250
05/15/00 2,000 17.5000 35,000
05/16/00 200 17.8750 3,575
05/16/00 100 17.9375 1,794
05/16/00 100 18.0000 1,800
05/26/00 1,000 18.5000 18,500
05/30/00 200 18.5000 3,700
06/01/00 1,000 18.5000 18,500
06/05/00 2,000 18.5000 37,000
06/05/00 4,000 18.5000 74,000
06/05/00 1,000 18.5000 18,500
06/05/00 3,000 18.5000 55,500
06/23/00 5,000 18.5000 92,500
06/23/00 5,000 18.5000 92,500
06/23/00 5,000 18.5000 92,500
06/23/00 5,000 18.5000 92,500
06/23/00 10,000 18.6250 186,250
06/23/00 5,000 18.6250 93,125
</TABLE>
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* Commissions not included
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EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT NO. DOCUMENT
<S> <C>
1 Agreement, dated as of June 23, 2000 by and among the signatories
of this Statement with respect to its filing.
</TABLE>
