<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 4)*
NORTH AMERICAN TECHNOLOGIES GROUP, INC.
(NAME OF ISSUER)
COMMON STOCK, $.001 PAR VALUE PER SHARE
(TITLE OF CLASS OF SECURITIES)
657193-10-8
(CUSIP NUMBER)
ROBERT H. CHANEY
R. CHANEY & PARTNERS-1993 L.P.
909 FANNIN, SUITE 1275
TWO HOUSTON CENTER
HOUSTON, TEXAS 77010-1006
(713) 753-1315
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
SEPTEMBER 22, 1998
(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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
NOTE: Schedules filed in paper format shall include an original and five copies
of this schedule, including all exhibits. See Section 240.13d-17(d) 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).
Page 1 of 8
<PAGE> 2
CUSIP NO. 657193-10-8 SCHEDULE 13D
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(1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above
Persons
R. CHANEY & PARTNERS-1993 L.P.
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x](1)
(b) [ ]
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(3) SEC Use Only
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(4) Source of Funds (See Instructions) OO (See Item 3)
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(5) Check Box 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 R. CHANEY & PARTNERS-1993 L.P. IS A
LIMITED PARTNERSHIP FORMED UNDER THE
LAWS OF THE STATE OF TEXAS.
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Number of Shares (7) Sole Voting Power 0
Beneficially -------------------------------------------------
Owned By
Each (8) Shared Voting Power 169,643(2)(3)
Reporting -------------------------------------------------
Person With
(9) Sole Dispositive Power 0
-------------------------------------------------
(10) Shared Dispositive Power 169,643(2)(3)
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
169,643(3)(4)
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(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x](4)
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(13) Percent of Class Represented by Amount in Row (11) 4.69%(4)
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(14) Type of Reporting Person (See Instructions) PN
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(1) R. Chaney & Partners-1993 L.P., its sole general partner, R. Chaney
& Co. Inc. and the general partner's sole shareholder, Robert Chaney, have a
limited relationship with other Investors as described in Items 4, 5, and 6.
(2) Voting and dispositive power is shared among the Partnership, the
General Partner, and the Sole Shareholder (as herein defined).
(3) Adjusted to reflect a nine-for-one reverse stock split effected on
May 13, 1998.
(4) Based on 3,479,858 shares of Common Stock issued and outstanding
pursuant to the Issuer's Form 10-QSB for the period ended June 30, 1998, plus
the 138,889 additional shares of Common Stock issuable upon exercise of the
Warrant (defined in Item 3). If the relationships described in Items 4, 5, and 6
constitute a group for purposes of Rule 13d-5 of the Act, then the group may
collectively own an aggregate of 3,549,709 out of 8,636,706 shares or 41.0
percent of the Common Stock based on the conversion and calculation procedures
described in Item 5(a)'s The Partnership. The Partnership, the General Partner
and the Sole Shareholder disclaim any beneficial ownership of the other
Investors' (defined in Item 6) shares and only claim beneficial ownership of the
above-mentioned 169,643 shares. Please see Item 5.
Page 2 of 8
<PAGE> 3
CUSIP NO. 657193-10-8 SCHEDULE 13D
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(1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above
Persons
R. CHANEY & CO., INC.
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)[x](1)
(b)[ ]
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(3) SEC Use Only
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(4) Source of Funds (See Instructions) OO (See Item 3)
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(5) Check Box 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 R. CHANEY & CO., INC. IS A
CORPORATION ORGANIZED UNDER THE
LAWS OF THE STATE OF TEXAS.
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Number of Shares (7) Sole Voting Power 0
Beneficially --------------------------------------------------
Owned By
Each (8) Shared Voting Power 169,643(2)(3)
Reporting --------------------------------------------------
Person With
(9) Sole Dispositive Power 0
--------------------------------------------------
(10) Shared Dispositive Power 169,643(2)(3)
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
169,643(3)(4)
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x](4)
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(13) Percent of Class Represented by Amount in Row (11) 4.69%(4)
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(14) Type of Reporting Person (See Instructions) CO
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(1) R. Chaney & Partners-1993 L.P., its sole general partner, R. Chaney &
Co. Inc. and the general partner's sole shareholder, Robert Chaney, have a
limited relationship with other Investors as described in Items 4, 5, and 6.
(2) Voting and dispositive power is shared among the Partnership, the
General Partner, and the Sole Shareholder (as herein defined).
(3) Adjusted to reflect a nine-for-one reverse stock split effected on May
13, 1998.
(4) Based on 3,479,858 shares of Common Stock believed to be issued and
outstanding pursuant to the Issuer's Form 10-QSB for the period ended June 30,
1998, plus the 138,889 additional shares of Common Stock issuable upon exercise
of the Warrant (defined in Item 3). If the relationships described in Items 4,
5, and 6 constitute a group for purposes of Rule 13d-5 of the Act, then the
group may collectively own an aggregate of 3,549,709 out of 8,636,706 shares or
41.0 percent of the Common Stock based on the conversion and calculation
procedures described in Item 5(a)'s The Partnership. The Partnership, the
General Partner and the Sole Shareholder disclaim any beneficial ownership of
the other Investors' (defined in Item 6) shares and only claim beneficial
ownership of the above-mentioned 169,643 shares. Please see Item 5.
Page 3 of 8
<PAGE> 4
CUSIP NO. 657193-10-8 SCHEDULE 13D
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(1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above
Persons
ROBERT H CHANEY
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)[x](1)
(b)[ ]
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(3) SEC Use Only
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(4) Source of Funds (See Instructions) OO (See Item 3)
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(5) Check Box 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 ROBERT H. CHANEY IS A CITIZEN
OF THE UNITED STATES.
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Number of Shares (7) Sole Voting Power 0
Beneficially --------------------------------------------------
Owned By
Each (8) Shared Voting Power 169,643(2)(3)
Reporting --------------------------------------------------
Person With
(9) Sole Dispositive Power 0
--------------------------------------------------
(10) Shared Dispositive Power 169,643(2)(3)
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
169,643(3)(4)
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(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x](4)
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 4.69%(4)
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(14) Type of Reporting Person (See Instructions) IN
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(1) R. Chaney & Partners-1993 L.P., its sole general partner, R. Chaney &
Co. Inc. and the general partner's sole shareholder, Robert Chaney, have a
limited relationship with other Investors as described in Items 4, 5, and 6.
(2) Voting and dispositive power is shared among the Partnership, the
General Partner, and the Sole Shareholder (as herein defined).
(3) Adjusted to reflect a nine-for-one reverse stock split effected on May
13, 1998.
(4) Based on 3,479,858 shares of Common Stock believed to be issued and
outstanding pursuant to the Issuer's Form 10-QSB for the period ended June 30,
1998, plus the 138,889 additional shares of Common Stock issuable upon exercise
of the Warrant (defined in Item 3). If the relationships described in Items 4,
5, and 6 constitute a group for purposes of Rule 13d-5 of the Act, then the
group may collectively own an aggregate of 3,549,709 out of 8,636,706 shares or
41.0 percent of the Common Stock based on the conversion and calculation
procedures described in Item 5(a)'s The Partnership. The Partnership, the
General Partner and the Sole Shareholder disclaim any beneficial ownership of
the other Investors' (defined in Item 6) shares and only claim beneficial
ownership of the above-mentioned 169,643 shares. Please see Item 5.
Page 4 of 8
<PAGE> 5
The Schedule 13D filed by R. Chaney & Partners-1993 L.P. (the
"Partnership"), R. Chaney & Co., Inc. (the "General Partner") and Robert H.
Chaney (the "Sole Shareholder") with the Securities and Exchange Commission
("SEC") on May 27, 1997, and amended by Amendment No. 1 thereto filed with the
SEC on April 30, 1997, Amendment No. 2 thereto filed with the SEC on March 17,
1998 and Amendment No. 3 thereto filed with the SEC on July 13, 1998, is hereby
amended as follows:
ITEM 1. SECURITY AND ISSUER
No modification.
ITEM 2. IDENTITY AND BACKGROUND
No. modification.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
No modification.
ITEM 4. PURPOSE OF TRANSACTION
No modification.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is hereby amended and restated as follows:
Item 5(a)
The Partnership. The Partnership beneficially owns (1) a warrant to
purchase 138,889 shares of Common Stock (at an exercise price per share of
$5.52) and (2) 30,754 shares of Common Stock.(5) The number of outstanding
shares of Common Stock for purposes of this Schedule 13D is 3,618,747 shares.(6)
The Partnership is deemed to beneficially own 169,643 shares out of the
outstanding shares, or 4.69 percent, of the Common Stock.
The General Partner. The General Partner as the sole general partner of
the Partnership may be deemed to be the beneficial owner of all 169,643 shares
of Common Stock beneficially owned by the Partnership that constitute
approximately 4.69 percent of the outstanding shares of Common Stock.
- ------------------
(5) On December 15, 1997, the Partnership converted 13,754.07 shares of
Series F Preferred Stock (defined in Item 3) into 179,174 shares of Common
Stock, and 2,500 shares of Series G Preferred Stock (defined in Item 3) into
62,413 shares of Common Stock (as adjusted to reflect a nine-for-one reverse
stock split effected on May 13, 1998.
(6) Based on 3,479,858 shares of Common Stock issued and outstanding
pursuant to the Issuer's Form 10-QSB for the period ended June 30, 1998, plus
the 138,889 additional shares of Common Stock issuable upon exercise of the
Warrant (as adjusted to reflect a nine-for-one reverse stock split effected on
May 13, 1998).
Page 5 of 8
<PAGE> 6
Sole Shareholder. The Sole Shareholder of the General Partner of the
Partnership may be deemed to be the beneficial owner of all 169,643 shares of
Common Stock beneficially owned by the Partnership that constitute approximately
4.69 percent of the outstanding shares of Common Stock.
Executive Officers and Director of the General Partner. Except as
otherwise described herein, none of the executive officers or directors of the
General Partner own any of the Issuer's Common Stock.
Certain Relationships. The Partnership, the General Partner, and the
Sole Shareholder have a limited relationship with the other Investors to the
extent of the above-described provisions of the Voting Agreement. Such
relationships may constitute a group for the purpose of Rule 13d-5. Except as
otherwise described here in and to the Partnership's, the General Partner's, and
the Sole Shareholder's best knowledge, the Investors collectively may own an
aggregate of 3,549,709 out of 8,636,706 shares or 41.0 percent of the Common
Stock based on the conversion and calculation procedures described in this Item
5(a)'s The Partnership. Because of the limited nature of their relationship to
the Investors, each of the Partnership, the General Partner, and the Sole
Shareholder disclaims any beneficial ownership of the other Investors' shares
and only claim beneficial ownership of the above-mentioned 169,643 shares.
Item 5(b)
The Partnership, the General Partner and the Sole Shareholder share
voting and dispositive power of these 169,643 shares. As stated above, the
Partnership, the General Partner, and the Sole Shareholder disclaim any
beneficial ownership or shared voting or dispositive power of the other
Investors' shares.
Item 5(c)
The Partnership effected the following sales of Common Stock in open
market transactions on the Nasdaq National Market:
<TABLE>
<CAPTION>
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Date Number of Shares Price Per Share
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<S> <C> <C>
7/30/98* 5,000 .88
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8/13/98* 8,000 .91
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8/14/98* 4,000 .91
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8/17/98* 3,000 .91
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8/18/98* 10,000 .91
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9/22/98* 15,500 .88
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9/23/98* 7,500 .88
---------------------------------------------------------------------
9/24/98* 20,000 .88
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9/29/98* 20,000 .75
---------------------------------------------------------------------
</TABLE>
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* Transaction effected after a nine-for-one reverse stock split.
Page of 6 of 8
<PAGE> 7
Item 5(d)
No person other than the Partnership, the General Partner, or the Sole
Shareholder has the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, Common Stock of the Issuer
with respect to which this filing is made.
Item 5(e)
The Partnership, the General Partner and the Sole Shareholder ceased to
be beneficial owner of more than five percent of the Common Stock of the Issuer
on September 29, 1998.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
No modification.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
No modification.
Not applicable.
Page 7 of 8
<PAGE> 8
SIGNATURES
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.
October 7, 1998
R. CHANEY & PARTNERS-1993 L.P.
By: R. CHANEY & CO., INC., General Partner
By: /s/ Robert H. Chaney
----------------------------------
Robert H. Chaney,
President and Chief Executive
Officer
R. CHANEY & CO., INC.
By: /s/ Robert H. Chaney
----------------------------------------
Robert H. Chaney,
President and Chief Executive
Officer
/s/ Robert H. Chaney
----------------------------------------------
Robert H. Chaney,
Sole Shareholder of R. Chaney & Co., Inc.
Page 8 of 8
<PAGE> 9
INDEX TO EXHIBITS
Exhibit No. Description
- ----------- -----------
10.1 Joint Reporting Agreement dated as of July
15, 1996 by and among R. Chaney
Partners-1993 L.P., R. Chaney & Co., Inc.,
and Robert H. Chaney (incorporated by
reference to Schedule 13D filed by the
reporting persons on July 23, 1996).
