SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.____3______)*
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 4 Pages
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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
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NUMBER OF 5 SOLE VOTING POWER
SHARES 430,048
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 14,316
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 430,048
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
14,316
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
444,364
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 456908300 13G Page 3 of 4 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 430,048
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
430,048
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
430,048
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BD
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 4 of 4 Pages
Item 1. J. Morton Davis and D.H. Blair Investment Banking Corp.
("Blair Investment") (together, the "Reporting Parties"), hereby
amend their statement on Schedule 13G relating to the Class
A Common Stock, $.04 par value ("shares") of Information
Management Technologies Corporation (the "Issuer") as follows:
Item 4. is hereby amended in its entirety as follows:
(a)(b) As of December 31, 1997, Mr. Davis may be deemed
to beneficially own 444,364 shares (1) or 7.4% of the
Issuer's shares issued and outstanding as follows: (i)
30,970 shares and 399,078 shares underlying 798,156 Class A
Warrants (2) owned by Blair Investment, and (ii) 2,268
shares and 12,048 shares underlying 24,097 Class A Warrants
owned by Parliament Hill Capital Corporation (3).
As of December 31, 1997, Blair Investment may be deemed
to beneficially own 430,048 shares as indicated in (i)
above, or 7.2%.
(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.
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: January 12, 1998
By: /s/ J. Morton Davis
-------------------------------
J. Morton Davis
Date: January 12, 1998
D.H. Blair Investment Banking Corp.
By: /s/ David Nachamie
-------------------------------
David Nachamie
Treasurer
___________________________________________________________________________
(1) These numbers reflect that on May 15, 1995, there was a one for four
reverse split of the Issuer's shares.
(2) Four Class A Warrants entitle the holder to purchase until April 5,
1999 at a price of $1.75 per Warrant, one share of Class A Common Stock and
one Redeemable Class B Warrant ("Class B Warrant"). Four Class B Warrants
entitle the holder to purchase at any time from the date of issuance until
April 5, 1999, at a price of $2.50 per Warrant, one share of Class A Common
Stock.
(3) 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%.
