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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
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Arrhythmia Research Technology, Inc.
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(Name of Issuer)
Common Stock, Par Value $.01
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(Title of Class of Securities)
042698209
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(CUSIP Number)
Russell C. Chambers, 772 Potato Patch, Vail, Colorado 81657 (512)343-6912
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 21, 1998
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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 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 5 Pages
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CUSIP No. 042698209 13D Page 2 of 5 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Russell C. Chambers
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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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
U.S.
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Number of Shares (7) Sole Voting 299,450 Shares Common
Beneficially Owned Power Stock, $.01 Par Value
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power N/A
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(9) Sole Dispositive 299,450 Shares Common
Power Stock, $.01 Par Value
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(10) Shared Dispositive N/A
Power
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
299,450 Shares Common Stock, $.01 Par Value
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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)
8.4%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 042698209 Page 3 of 5 Pages
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ITEM 1. SECURITY AND ISSUER
This statement relates to the $.01 Par Value Common Stock ("Common Stock")
of Arrhythmia Research Technology, Inc. ("ART"), the principal executive
offices of which are located at 5910 Courtyard Drive, Suite 300, Austin, Texas
78731.
ITEM 2. IDENTITY AND BACKGROUND
(a) Russell C. Chambers, MD
(b) Dr. Chambers' business address is 772 Potato Patch, Vail,
Colorado 81657.
(c) Dr. Chambers' principal occupation is overseeing his personal
investments.
(d) Dr. Chambers has not been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) during
the last five years.
(e) Dr. Chambers has not been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction the
result of which was a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities
subject to federal or state securities laws or finding any
violation with respect to such laws during the last five years.
(f) Dr. Chambers is a citizen of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Common Stock of ART has been purchased for an aggregate cash
consideration of $76,150.00 utilizing personal funds.
ITEM 4. PURPOSE OF TRANSACTION
Dr. Chambers has purchased and sold the Common Stock of ART for
investment purposes.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
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CUSIP No. 042698209 Page 4 of 5 Pages
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(a) The aggregate number of shares of Common Stock of ART
beneficially owned by Dr. Chambers and the percentage which
those shares are of the outstanding Common Stock of ART are as
follows:
Russell C. Chambers 299,450 shares 8.4%
(b) Dr. Chambers has the sole power to vote and the sole power to
dispose or direct the disposition of all of the shares of Common
Stock listed in subpart (a) of this Item.
(c) The following transactions in the Common Stock of ART were
effected by Dr. Chambers within the last sixty days:
<TABLE>
<CAPTION>
DATE AMOUNT OF SECURITIES PRICE PER SHARE WHERE AND HOW EFFECTED
- ---- -------------------- --------------- ----------------------
<S> <C> <C> <C>
7/31/98 200 Shares $1-1/4 Open Market
8/6/98 10,000 Shares $1-3/16 Open Market
8/7/98 5,000 Shares $1-3/16 Open Market
8/10/98 200 Shares $1-1/8 Open Market
8/11/98 10,000 Shares $1-1/16 Open Market
8/12/98 15,000 Shares $1 Open Market
8/13/98 1,600 Shares $1-1/8 Open Market
8/13/98 10,000 Shares $1 Open Market
8/13/98 1,000 Shares $1-1/16 Open Market
8/17/98 7,900 Shares $1-1/4 Open Market
8/20/98 8,000 Shares $1-3/16 Open Market
</TABLE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Dr. Chambers does not have any contracts, arrangements, understandings,
or relationships (legal or otherwise) with any persons with respect to any
securities of ART, including but not limited to transfer or voting of any
securities of ART; finders fees; joint ventures; loan or option arrangements;
puts or calls; guarantees of profits; divisions of profits or losses; or the
giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Not applicable.
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CUSIP No. 042698209 Page 5 of 5 Pages
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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.
August 21, 1998
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(Date)
/s/ Russell C. Chambers
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(Signature)
Russell C. Chambers
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(Name/Title)
