SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 1
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
(650) 325-7779
-----------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 8, 1999
-------------------------------------------------------
(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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [X]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7(b) 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).
(Continued on following page(s))
Page 1 of 11 pages
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<TABLE>
<CAPTION>
<S> <C> <C>
CUSIP No. 247171101 13D Page 2 of 11 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Bay Area Micro-Cap Fund, L.P.
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a) [ ]
(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 1,162,900
Person With --------------------------------------------------------------
(8) Shared Voting Power
0
--------------------------------------------------------------
(9) Sole Dispositive Power
1,162,900
--------------------------------------------------------------
(10) Shared Dispositive Power
0
--------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned By Each Reporting Person
1,162,900
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(13) Percent Of Class Represented By Amount In Row (11)
13.25%
- ------------------------------------------------------------------------------------------------------------------------------------
(14) Type Of Reporting Person
PN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
2
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<TABLE>
<CAPTION>
<S> <C> <C>
CUSIP No. 247171101 13D Page 3 of 11 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Bay Area Micro-Cap Management Company, LLC
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a) [ ]
(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 1,162,900
Person With --------------------------------------------------------------
(8) Shared Voting Power
0
--------------------------------------------------------------
(9) Sole Dispositive Power
1,162,900
--------------------------------------------------------------
(10) Shared Dispositive Power
0
--------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned By Each Reporting Person
1,162,900
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(13) Percent Of Class Represented By Amount In Row (11)
13.25%
- ------------------------------------------------------------------------------------------------------------------------------------
(14) Type Of Reporting Person
CO
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
3
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CUSIP No. 247171101 13D Page 4 of 11 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Smart & Holland Value Fund, L.P.
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a) [ ]
(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 6,000
Person With --------------------------------------------------------------
(8) Shared Voting Power
0
--------------------------------------------------------------
(9) Sole Dispositive Power
6,000
--------------------------------------------------------------
(10) Shared Dispositive Power
0
--------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned By Each Reporting Person
6,000
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(13) Percent Of Class Represented By Amount In Row (11)
0.06%
- ------------------------------------------------------------------------------------------------------------------------------------
(14) Type Of Reporting Person
PN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
4
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CUSIP No. 247171101 13D Page 5 of 11 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Gregory F. Wilbur
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a) [ ]
(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 1,209,700
Person With --------------------------------------------------------------
(8) Shared Voting Power
0
--------------------------------------------------------------
(9) Sole Dispositive Power
1,209,700
--------------------------------------------------------------
(10) Shared Dispositive Power
0
--------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned By Each Reporting Person
1,209,700
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(13) Percent Of Class Represented By Amount In Row (11)
13.78%
- ------------------------------------------------------------------------------------------------------------------------------------
(14) Type Of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
5
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CUSIP No. 247171101 13D Page 6 of 11 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
William A. Smart III
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a) [ ]
(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 9,000
Person With --------------------------------------------------------------
(8) Shared Voting Power
1,162,900
--------------------------------------------------------------
(9) Sole Dispositive Power
9,000
--------------------------------------------------------------
(10) Shared Dispositive Power
1,162,900
--------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned By Each Reporting Person
1,171,900
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(13) Percent Of Class Represented By Amount In Row (11)
13.35%
- ------------------------------------------------------------------------------------------------------------------------------------
(14) Type Of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
6
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CUSIP No. 247171101 13D Page 7 of 11 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Peter L. Holland
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a) [ ]
(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
1,162,900
--------------------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------------------
(10) Shared Dispositive Power
1,162,900
--------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned By Each Reporting Person
1,162,900
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(13) Percent Of Class Represented By Amount In Row (11)
13.25%
- ------------------------------------------------------------------------------------------------------------------------------------
(14) Type Of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
Page 8 of 11 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 file 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"), Smart & Holland Value Fund, L.P. ("SHV
Fund, L.P."), 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. The principal business and office address for SHV Fund, L.P.
is P.O. Box 742, Palo Alto, California 94302. 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.
WAS is the general partner of SHV Fund, L.P.
(d)-(e) Not Applicable
(f) BAMC Fund, L.P. and SHV Fund, L.P. are California limited partnerships.
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 purchases by BAMC Fund, L.P. and SHV Fund, L.P. were made from working
capital. The purchases by GFW and WAS were made from personal funds.
ITEM 4. PURPOSE OF TRANSACTION
The acquisitions of the securities of the Issuer by BAMC Fund, L.P., SHV
Fund, L.P., GFW and WAS were made for investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
BAMC Fund L.P. holds warrants to purchase an aggregate of 173,000 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 1,162,900 shares of
Common Stock, or approximately 13.25% of the shares deemed outstanding by
the Issuer (8,772,664) as of June 8, 1999. BAMC Fund, L.P. purchased 17,500
shares on April 6, 1999, 1,600 shares on April 9, 1999, 2,000 shares on
April 20, 1999, 17,700 shares on April 23, 1999, 9,000 shares on April 29,
1999, 37,000 shares on April 30, 1999, 5,500 shares on May 3, 1999, 5,000
shares on May 4, 1999, 5,000 shares on May 5, 1999, 9,000 shares on May 7,
1999, 5,000 shares on May 10, 1999, 30,000 shares on May 11, 1999, 20,000
shares on May 12, 1999, an aggregate of 45,000 shares on May 13, 1999,
40,000 shares on May 14, 1999, 40,000 shares on May 18, 1999, an aggregate
of 7,000 shares on May 20, 1999, 5,000 shares on May 26, 1999, 2,000 shares
on May 27, 1999, an aggregate of 29,000 shares on May 28, 1999, 16,000
shares on June 1, 1999, 15,000 shares on June 2, 1999, 9,800 shares on June
4, 1999 and 12,000 shares on June 7, 1999. SHV Fund, L.P. is the beneficial
owner of 6,000 shares of Common Stock, or approximately .06% of the shares
deemed outstanding by the Issuer (8,772,664) as of June 8, 1999. GFW
beneficially owns 46,800 shares of Common Stock, or approximately .53%
8
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Page 9 of 11 Pages
of the shares deemed outstanding by the Issuer (8,772,664) as of June 8,
1999. WAS beneficially owns 3,000 shares of Common Stock, or approximately
.03% of the shares deemed outstanding by the Issuer (8,772,664) as of June
8, 1999.
(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. WAS as general
partner of SHV Fund, L.P. has the power to direct solely the vote and/or
disposition of the shares held by SHV Fund, L.P. GFW has sole power to
direct the vote and/or disposition of the shares held by GFW. WAS has sole
power to direct the vote and/or disposition of the shares held by WAS.
(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.
9
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Page 10 of 11 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. Smart & Holland Value Fund, L.P.
By: Bay Area Micro-Cap Management
Company, LLC By: /s/ William A. Smart III
Its General Partner ----------------------------
General Partner
By: /s/ Gregory F. Wilbur
----------------------------
Managing Member
Bay Area Micro-Cap Management Company, LLC
By: /s/ 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
10
<PAGE>
EXHIBIT A Page 11 of 11 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. Smart & Holland Value Fund, L.P.
By: Bay Area Micro-Cap Management
Company, LLC By: /s/ William A. Smart III
Its General Partner ----------------------------
General Partner
By: /s/ Gregory F. Wilbur
----------------------------
Managing Member
Bay Area Micro-Cap Management Company, LLC
By: /s/ 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
11
