SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.____2______)*
Information Management Technologies Corporation
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(Name of Issuer)
Class A Common Stock, $.04 par value
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(Title of Class of Securities)
456908300
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing 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.)
*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 in 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>
CUSIP No. 456908300 13G Page 2 of 7 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. Morton Davis
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 523,797
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 8,292
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 523,797
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
8,292
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
532,089
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 456908300 13G Page 3 of 7 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.H. Blair Investment Banking Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 523,797
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
523,797
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
523,797
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.8%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BD
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 4 of 7 Pages
Item 1. (a) Name of Issuer:
Information Management Technologies Corporation
(b) Address of Issuer's Principal Executive Offices:
130 Cedar Street
New York, NY 10006
Item 2. (a) Name of Person Filing:
J. Morton Davis and D.H. Blair Investment Banking
Corp. ("Blair Investment") (1). See attached Exhibit A which
is a copy of their agreement in writing to file this
statement on behalf of each of them.
(b) Address of Principal Business Office:
Mr. Davis' and Blair Investment's business
address is 44 Wall Street, New York, New York 10005.
(c) Citizenship:
Mr. Davis is a United States citizen. Blair Investment
is incorporated in the State of Delaware.
(d) Title of Class of Securities:
Class A Common Stock, $.04 par value ("shares")
(e) CUSIP Number:
456908300
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [X] Broker or Dealer registered under Section 15 of the
Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of
the Act
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Section
240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G)
(h) ( ) Group, in accordance with Section 240.13d-
1(b)(1)(ii)(H)
______________________________________________________________________________
(1) J. Morton Davis is the sole shareholder of Blair Investment, a broker-
dealer registered under the Securities Exchange Act of 1934. Prior to May
1, 1996, Blair Investment was a wholely-owned subsidiary of D.H. Blair
Holdings, Inc. ("Blair Holdings"), which was solely owned by Mr. Davis. As of
May 1, 1996, Blair Holdings merged into Blair Investment, with Blair
Investment being the surviving corporation.
<PAGE>
Page 5 of 7 Pages
Item 4. Ownership.
(a)(b) As of December 31, 1996, Mr. Davis may be deemed to
beneficially own 532,089 shares (2) or 9.0% of the
Issuer's shares issued and outstanding as follows: (i)
124,719 shares and 199,539 Class A Warrants (3) owned by
Blair Investment, and (ii) 2,268 shares and 6,024 Class A
Warrants owned by Parliament Hill Capital Corporation (4).
As of December 31, 1996, Blair Investment may be deemed
to beneficially own 523,797 shares as indicated in (i)
above, or 8.8%.
(c) Blair Investment has granted the power to vote or
to direct the vote of all of the shares of the Issuer that
Blair Investment owns or is entitled to vote to the Chief
Executive Officer of the Issuer. Mr. Davis has sole
dispositive power over shares owned by Blair Investment. Mr.
Davis shares voting and dispositive control over shares
directly owned by PHCC with PHCC's Board of Directors of
which Mr. Davis is Chairman.
Item 5. Ownership of Five Percent or Less of a Class:
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not applicable.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
___________________________________________________________________________
(2) These numbers reflect that on May 15, 1995, there was a one for four
reverse split of the Issuer's shares.
(3) Each Class A Warrant entitles the holder to purchase until April 5,
1997 at a price of $6.7892 per Warrant, one share of Class A Common Stock and
one Redeemable Class B Warrant ("Class B Warrant"). Each Class B Warrant
entitles the holder to purchase at any time from the date of issuance until
April 5, 1997, at a price of $9.3232 per Warrant, one share of Class A Common
Stock.
(4) Parliament Hill Capital Corporation ("PHCC") is a wholly-owned
subsidiary of Parliament Hill Corporation, a private corporation of which Mr.
Davis' wife, Rosalind Davidowitz, beneficially owns approximately 72.7%, and
Blair Investment beneficially owns approximately 13.4%.
<PAGE>
Page 6 of 7 pages
Item 10. Certification.
By signing below we certify that, to the best of our knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect
Signature.
After reasonable inquiry and to the best of my knowledge and belief,
we certify that the information set forth in this statement is true,
complete and correct.
Date: February 12, 1997
By: /s/ J. Morton Davis
-------------------------------
J. Morton Davis
Date: February 12, 1997
D.H. Blair Investment Banking Corp.
By: /s/ David Nachamie
-------------------------------
David Nachamie
Treasurer
Page 7 of 7 pages
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
The undersigned hereby agree to jointly prepare and file with regulatory
authorities a Schedule 13G and any future amendments thereto reporting each of
the undersigned's ownership of securities of Information Management
Technologies Corp., and hereby affirm that such Schedule 13G is being filed on
behalf of each of the undersigned.
Date: February 12, 1997
By: /s/ J. Morton Davis
-------------------------------
J. Morton Davis
Date: February 12, 1997
D.H. Blair Investment Banking Corp.
By: /s/ David Nachamie
-------------------------------
David Nachamie
Treasurer
