<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
DELPHI INFORMATION SYSTEMS, INC.
--------------------------------
(Name of Issuer)
COMMON STOCK
------------------------------
(Title of Class of Securities)
247171101
--------------
(CUSIP Number)
GREGORY F. WILBUR
BAY AREA MICRO-CAP MANAGEMENT COMPANY, LLC
1151 BAY LAUREL DR.
MENLO PARK, CA 94025
(415) 325-7779
-----------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
FEBRUARY 14, 1997
-------------------------------------------------------
(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 / /.
Check the following box if a fee is being paid with this statement / /. (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 13d-1(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 the 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, as amended (the "Exchange Act") or otherwise subject to the
liabilities of that section of the Exchange Act but shall be subject to all
other provisions of the Exchange Act.
(Continued on following page(s))
Page 1 of 10 pages
<PAGE>
CUSIP No. 247171101 13D Page 2 of 10 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Bay Area Micro-Cap Fund, L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(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
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned
by Each Reporting 2,348,751
Person With --------------------------------------------------
(8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
2,348,751
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,348,751
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.2%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 247171101 13D Page 3 of 10 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Bay Area Micro-Cap Management Company, LLC
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned
by Each Reporting 0
Person With --------------------------------------------------
(8) Shared Voting Power
2,348,751
--------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------
(10) Shared Dispositive Power
2,348,751
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,348,751
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.2%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 247171101 13D Page 4 of 10 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Gregory F. Wilbur
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF, AF
- -------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
U.S.A.
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned
by Each Reporting 977,900
Person With --------------------------------------------------
(8) Shared Voting Power
2,348,751
--------------------------------------------------
(9) Sole Dispositive Power
977,900
--------------------------------------------------
(10) Shared Dispositive Power
2,348,751
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,326,651
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
8.8%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 24717110113D Page 5 of 10 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
William A. Smart III
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
U.S.A.
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned
by Each Reporting 0
Person With --------------------------------------------------
(8) Shared Voting Power
2,348,751
--------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------
(10) Shared Dispositive Power
2,348,751
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,348,751
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.2%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 24717110113D Page 6 of 10 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Peter L. Holland
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
U.S.A.
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned
by Each Reporting 0
Person With --------------------------------------------------
(8) Shared Voting Power
2,348,751
--------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------
(10) Shared Dispositive Power
2,348,751
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,348,751
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.2%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 7 of 10 Pages
ITEM 1. SECURITY AND ISSUER
Class of Securities: Common Stock
Issuer: Delphi Information Systems, Inc.
Principal Address: 3501 Algonquin Road, Suite 500
Rolling Meadows, IL 00008
ITEM 2. IDENTITY AND BACKGROUND
(a)-(c) The undersigned hereby files this Schedule 13D Statement on behalf
of Bay Area Micro-Cap Fund, L.P. ("BAMC Fund, L.P."), Bay Area Micro-Cap
Management Company, LLC ("BAMC LLC"), Mr. Gregory F. Wilbur ("GFW"), William A.
Smart III ("WAS") and Peter L. Holland ("PLH"). The principal business and
office address for BAMC Fund L.P., BAMC LLC, GFW, WAS and PLH is 1151 Bay Laurel
Drive, Menlo Park, California, 94025. BAMC Fund, L.P. is a venture capital
fund. GFW is the majority managing member of BAMC LLC which is the general
partner of BAMC Fund, L.P. WAS and PLH are managing members of BAMC LLC.
(d)-(e) Not Applicable
(f) BAMC Fund, L.P. is a California limited partnership. BAMC LLC is a
California limited liability company. GFW, WAS and PLH are citizens of the
United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The purchase by BAMC Fund, L.P. was made from working capital. The
purchase by GFW was made from personal funds.
ITEM 4. PURPOSE OF TRANSACTION
The acquisitions of the securities of the Issuer by BAMC Fund, L.P. and by
GFW were made for investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
See Schedule 13D Statement cover page, rows (7) through (11) inclusive and
row (13). Based on information contained in Form 10-K for fiscal year ended
March 31, 1997 filed by the Issuer with the Securities and Exchange Commission,
the Issuer had 36,391,168 shares of Common Stock issued and outstanding on June
1, 1997. BAMC Fund, L.P. and GFW hold warrants to purchase an aggregate of
1,415,000 shares of Common Stock. Such warrants are deemed outstanding for
purposes of this Schedule 13D pursuant to Rule 13d-3(d).
(a)
BAMC Fund, L.P. is the beneficial owner of 2,348,751 shares of Common
Stock, or approximately 6.2% of the Common Stock outstanding. BAMC Fund,
L.P. purchased an aggregate of 921,751 shares on or before February 14,
1997. BAMC Fund, L.P. purchased an additional 1,400,000 shares, 17,000
shares and 20,000 shares on February 15, 1997, March 7, 1997 and April 3,
1997, respectively. On May 30, 1997 BAMC Fund, L.P. sold 10,000 shares.
GFW beneficially owns 977,900 shares of Common Stock, or approximately 2.6%
of the Common Stock outstanding. GFW purchased 640,395 shares on February
14, 1997, 330,000 shares on February 15, 1997, 40,000 shares on March 10,
1997 and 15,000 shares on March 11, 1997. On April 11, 1997 GFW sold
35,000 shares and on June 23, 1997 he sold 12,495 shares.
<PAGE>
Page 8 of 10 Pages
(b)
The general partner of BAMC Fund, L.P., BAMC LLC, manages the shares
held by BAMC Fund, L.P. GFW as a managing member of BAMC LLC has the power
to direct solely the vote and/or disposition of the shares held by BAMC
Fund, L.P. WAS and PLH, acting together, have the power to direct the vote
and/or disposition of the shares held by BAMC Fund, L.P. GFW has sole
power to direct the vote and/or disposition of the shares held by GFW.
(c)
Transactions effected in the past 60 days by the persons listed in
Item 2 are disclosed in (a) above.
(d)
Except as described in this Schedule 13D Statement, no person has the
power to direct the receipt of dividends on or the proceeds of sales of the
shares of Common Stock owned by BAMC Fund, L.P.
(e)
Not Applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO THE SECURITIES OF THE ISSUER
To the best knowledge of the undersigned, there are no contracts,
understandings, arrangements, or relationships (legal or otherwise) giving the
persons named in Item 2 and between such persons and any other person with
respect to the securities of Issuer, including, but not limited to, transfer or
voting of any of the Issuer's securities, finder's fees, joint ventures, loan or
option agreement, puts or calls, guarantees of profits, divisions of profits or
loss, or the giving or withholding of proxies.
ITEM 7. EXHIBITS
Exhibit A: Joint Filing Statement.
<PAGE>
Page 9 of 10 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.
Bay Area Micro-Cap Fund, L.P.
By: Bay Area Micro-Cap Management Company, LLC
Its General Partners
By: /s/ Gregory F. Wilbur
------------------------------------------
Gregory F. Wilbur, Managing Member
Bay Area Micro-Cap Management Company, LLC
By: /s/ Gregory F. Wilbur
------------------------------------------
Gregory F. Wilbur, Managing Member
/s/ Gregory F. Wilbur
------------------------------------------
Gregory F. Wilbur
/s/ William A. Smart III
------------------------------------------
William A. Smart III
/s/ Peter L. Holland
------------------------------------------
Peter L. Holland
<PAGE>
EXHIBIT A Page 10 of 10 Pages
JOINT FILING STATEMENT
We, the undersigned, hereby express our agreement that the attached
Schedule 13D is filed on behalf of each of us.
Bay Area Micro-Cap Fund, L.P.
By: Bay Area Micro-Cap Management Company, LLC
Its General Partners
By: /s/ Gregory F. Wilbur
------------------------------------------
Gregory F. Wilbur, Managing Member
Bay Area Micro-Cap Management Company, LLC
By: /s/ Gregory F. Wilbur
------------------------------------------
Gregory F. Wilbur, Managing Member
/s/ Gregory F. Wilbur
------------------------------------------
Gregory F. Wilbur
/s/ William A. Smart III
------------------------------------------
William A. Smart III
/s/ Peter L. Holland
------------------------------------------
Peter L. Holland
