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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 2)*
Telenetics Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
87943P408
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(CUSIP Number)
William C. Saunders
5735 Prestwick Lane
Dallas, TX 75252
(972)732-0712
With a copy to:
Sally A. Schreiber, Esq.
Munsch Hardt Kopf & Harr, P.C.
4000 Fountain Place
1445 Ross Avenue
Dallas, TX 75202
(214) 855-7500
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 1, 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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 240.13d-7 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 could 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).
(Continued on following page(s))
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Page 2 of 5 Pages
CUSIP No. 87943P408 Schedule 13D
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(1) Names of Reporting Person. I.R.S. Identification Nos. of Above
Person
William C. Saunders
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(2) Check the Appropriate Box if a Member (a) [ ]
(b) [X]
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(3) SEC Use Only ___________________
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(4) Source of Funds
PF
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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 of America
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Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting 30,000/1/
Person With --------------------------------------------------
(8) Shared Voting
Power
600,000/2/
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(9) Sole Dispositive
Power
30,000/1/
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(10) Shared Dispositive
Power
600,000/2/
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
630,000/3/
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[X]
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(13) Percent of Class Represented by Amount in Row (11)
4.1%
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(14) Type of Reporting Person
IN
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/1/ These shares are actually owned by the Reporting Person. Does not include
any earn-out shares that may be acquired if certain conditions are met, which
shares were previously erroneously reported as being beneficially owned.
/2/ These shares are subject to an exercisable option that Saunders & Parker,
Inc., a Texas corporation ("S&P"), of which the Reporting Person is an executive
officer, director, and 50% shareholder, owns, which shares are not currently
issued or outstanding.
/3/ See notes 1 and 2 above.
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Page 3 of 5 Pages
This Amendment No. 2 amends and supplements the Statement on Schedule 13D
("Schedule 13D") initially filed on January 18, 2000, with the Securities and
Exchange Commission by the Reporting Person, as amended and restated in its
entirety by Amendment No. 1 to the Schedule 13D filed on August 15, 2000, which
Schedule 13D relates to the Common Stock, no par value per share, of Telenetics
Corporation, a California corporation. Capitalized terms used herein and not
otherwise defined herein shall have the meaning assigned to such terms in the
Schedule 13D, as amended.
Item 5 is hereby amended and supplemented as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Number of shares of Common Stock deemed to be beneficially owned
by Reporting Person: 630,000
Percentage of class of securities deemed to be beneficially owned
by Reporting Person: 4.1%
(b) Number of shares deemed to be beneficially owned by Reporting
Person as to which it has the sole power to vote: 30,000
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Page 4 of 5 Pages
Number of shares deemed to be beneficially owned by Reporting
Person as to which it has the shared power to vote: 600,000
Number of shares deemed to be beneficially owned by Reporting
Person as to which it has the sole power to dispose: 30,000
Number of shares deemed to be beneficially owned by Reporting
Person as to which it has the shared power to dispose: 600,000
The power to vote and dispose of the 600,000 shares subject to the
Options would be held by S&P if the Options were exercised.
Parker, a Co-President, director and 50% Shareholder of S&P, and
the Reporting Person, who is also a Co-President, director, and
50% shareholder of S&P, would share the right to vote or to direct
the vote and the power to dispose or influence the disposition of
such shares as a result of such positions. For information on
Parker and S&P, please see Item 2 of the Schedule 13D executed by
each of them on January 18, 2000, with respect to Telenetics, as
amended, which information is incorporated herein by reference.
(c) From the period August 31, 2000 to September 22, 2000, the
Reporting Person sold in the open market an aggregate of 138,750
shares of common stock of Telenetics for an average purchase
price of $2.5629 per share.
(d) Except as described in Item 5(b), no other person is known to have
the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the securities
listed in Item 5(a).
(e) The Reporting Person, as of September 1, 2000, ceased to be the
beneficial owner of more than 5% of the common stock of
Telenetics. Accordingly, this is the final amendment to this
Schedule 13D being filed on the Reporting Person's behalf.
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Page 5 of 5 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.
November 1, 2000
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(Date)
/s/ William C. Saunders
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(Signature)
William C. Saunders
