SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND(d)AND AMENDMENTS THERETO FILED
PURSUANT TO RULES 13d-2(b)
(Amendment No. )*
INFORMATION MANAGEMENT TECHNOLOGIES CORPORATION
(Name of Issuer)
Common Stock, par value $.04 per share
(Title of Class of Securities)
456908 30 0
(CUSIP Number)
December 29, 1998
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
-----------
*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 ("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).
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Investment Annuity of Robert Sachs
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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NUMBER OF 5 SOLE VOTING POWER
SHARES 650,918<F1><F2>
--------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
--------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 650,918<F1><F2>
--------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH
---------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
650,918<F1><F2>
---------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
---------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.7%<F3>
---------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
New Nibco, Inc.
---------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
---------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 140,783<F4><F2>
--------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
--------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 140,783<F4><F2>
--------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH
---------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,783<F4><F2>
---------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
---------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.6%<F3>
---------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
---------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Nibco Nevada, Inc.
---------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
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3 SEC USE ONLY
---------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
---------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 397,005<F5><F2>
--------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
--------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 397,005<F5><F2>
--------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH
---------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
397,005<F5><F2>
---------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
---------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.7%<F3>
---------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
---------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
RHS Corp.
---------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
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3 SEC USE ONLY
---------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
---------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 395,443<F6><F2>
--------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
--------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 395,443<F6><F2>
--------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH
---------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
395,443<F6><F2>
---------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
---------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.7%<F3>
---------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
---------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Robert Sachs
---------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
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3 SEC USE ONLY
---------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
US
---------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 1,584,149<F7><F2>
--------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
--------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,584,149<F7><F2>
--------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH
---------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,584,149<F7><F2>
---------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
---------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
18.8%<F3>
---------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<F1> 633,518 shares of Information Management Technologies
Corporation ("Imtech") common stock ("Imtech Common Stock")
were issued to the Investment Annuity of Robert Sachs (the
"Investment Annuity") on December 29,1998 upon conversion of
shares of Imtech 12% Redeemable Convertible Preferred Stock
("Imtech Preferred Stock"). The Investment annuity owns an
additional 17,400 shares of Imtech Common Stock.
<F2> The terms and provisions of the Imtech Preferred Stock
require that Imtech issue shares of Imtech Common Stock as soon
as practicable after receipt of a conversion notice from a
holder of Imtech Preferred Stock and that the number of shares
of Imtech Common Stock into which shares of Imtech Preferred
Stock shall be converted shall be based upon the closing bid
price of the Imtech Common Stock on the twenty trading days
preceding the date on which the conversion notice is sent plus
accrued and unpaid dividends through the date of receipt of the
conversion notice. The Investment Annuity, New Nibco, Inc.
("New Nibco"), Nibco Nevada, Inc. ("Nibco Nevada") and RHS
Corp. ("RHS") sent Imtech numerous conversion notices and
Imtech failed to issue shares of Imtech Common Stock in
accordance with the terms of the Imtech Preferred Stock and
those conversion notices. The number of shares of Imtech Common
Stock which the Investment Annuity, New Nibco, Nibco Nevada and
RHS received on December 29, 1998,is substantially less than
the number of shares to which they are entitled under the terms
of the Imtech Preferred Stock. Imtech has refused to issue the
additional shares requested by the Investment Annuity, New
Nibco, Nibco Nevada and RHS.
The Investment Annuity, New Nibco, Nibco Nevada and RHS
most recently sent Intech conversion notices on January 27,
1999 requesting issuance of an aggregate of 5,605,559
additional shares of Imtech Common Stock (1,798,732 for the
Investment Annuity, 399,717 for New Nibco, 1,127,205 for Nibco
Nevada and 2,279,905 for RHS). On January 29, 1999, the
Investment Annuity, New Nibco, Nibco Nevada, RHS and Robert
Sachs filed suit against Imtech in the Federal District Court
in the Southern District of New York seeking an award of the
aggregate 5,605,559 shares of Imtech Common Stock to which they
were entitled on January 27, 1999, or such greater number of
shares of Imtech Common Stock to which they may be entitled
pursuant to the terms of the Imtech Preferred Stock on the date
of entry of an order by such Court.
The Investment Annuity, New Nibco, Nibco Nevada, RHS
and Sachs believe that other holders of Imtech Preferred Stock
who converted their Imtech Preferred Stock and received shares
of Imtech Common Stock at or about the same time that the
Investment Annuity, New Nibco, Nibco Nevada and RHS received
their shares are also entitled to additional shares of Imtech
Preferred Stock. The Investment Annuity, New Nibco, Nibco
Nevada, RHS and Sachs do not know if such other holders will
seek to have additional shares of Imtech Common Stock issued to
them.
<F3> Based on 5,789,846 shares of Imtech Common Stock
outstanding on September 30, 1998, according to Imtech's Report
on Form 10-Q for the period ended September 30, 1998, plus the
1,593,659 shares of Imtech Common Stock issued to the
Investment Annuity, New Nibco, Nibco Nevada and RHS on December
29, 1998, plus an additional 1,002,198 shares of Imtech Common
Stock believed to have been issued to other holders of Imtech
Preferred Stock since September 30, 1998. Based upon a review
of public filings made by Imtech, it is believed that there are
outstanding no warrants, options or other securities that,
during the next 90 days, are exercisable for, or convertible
into, Imtech Common Stock at a price which does not greatly
exceed the price at which the Imtech Common Stock is presently
trading. However, as discussed in Note <F2> above, other
holders of Imtech Preferred Stock who converted their Imtech
Preferred Stock into shares of Imtech Common Stock are entitled
to additional shares of Imtech Common Stock. In addition,
other holders of Imtech Preferred Stock agreed not to convert
their Imtech Preferred Stock until March 2000 and certain of
these holders have raised questions about the validity of their
agreement. Should such holders have the agreement invalidated
and convert their Imtech Preferred Stock, a substantial number
of additional shares of Imtech Common Stock would be issued.
<F4> 140,783 shares of Imtech Common Stock were issued to New
Nibco on December 29,1998 upon conversion of shares of Imtech
Preferred Stock.
<F5> 397,005 shares of Imtech Common Stock were issued to
Nibco Nevada on December 29,1998 upon conversion of shares of
Imtech Preferred Stock.
<F6> 422,343 shares of Imtech Common Stock of Imtech were
issued to RHS on December 29,1998 upon conversion of shares of
Imtech Preferred Stock. 26,900 shares of Imtech Common Stock
have since been sold by RHS in the open market.
<F7> Robert Sachs is the beneficial owner of the 1,584,149
shares of Imtech Common Stock owned by the Investment Annuity,
New Nibco, Nibco Nevada and RHS as the sole beneficiary of the
Investment Annuity and the sole shareholder of New Nibco, Nibco
Nevada and RHS.
Item 1. (a) Name of Issuer:
Information Management Technologies Corporation
--------------------------------------------------------------
(b) Address of Issuer's Principal Executive
Offices:
130 Cedar Street, 4th Floor, New York, New York 10006
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Item 2. (a) Name of Person Filing:
(1) Investment Annuity of Robert Sachs.
(2) New Nibco, Inc.
(3) Nibco Nevada, Inc.
(4) RHS Corp.
(5) Robert Sachs
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(b) Address of Principal Business Office, or if
None, Residence:
(1) c/o Lincoln Trust, 6312 South Fiddler's Green Circle,
Suite 400E, Englewood, Colorado 80111
(2) 200 North Swall Drive, PH 58, Beverly Hills, CA 90211
(3) 200 North Swall Drive, PH 58, Beverly Hills, CA 90211
(4) 200 North Swall Drive, PH 58, Beverly Hills, CA 90211
(5) 200 North Swall Drive, PH 58, Beverly Hills, CA 90211
--------------------------------------------------------------
(c) Citizenship:
Incorporated by reference to Item 4 of the cover
page pertaining to each reporting person.
(d) Title of Class of Securities:
Common Stock
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(e) CUSIP Number:
456908 30 0
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Item 3. If This Statement if filed pursuant to Rule 13d-
1(c), check this box. [x]
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Item 4. Ownership.
Incorporated by reference to Items (5) - (9) and (11)
of the cover pages.
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Item 5. Ownership of Five Percent or Less of a Class.
Inapplicable
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Item 6. Ownership of More Than Five Percent on Behalf of
Another Person.
Robert Sachs has the right to receive and the power to
direct the receipt of dividends from, and the proceeds from,
the sale of the securities owned by the Investment Annuity of
Robert Sachs, New Nibco, Inc., Nibco Nevada, Inc. and RHS Corp.
--------------------------------------------------------------
Item 7. Identification and Classification of the Subsidiary
which Acquired the Security Being Reported on By the Parent
Holding Company.
Inapplicable
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Item 8. Identification and Classification of Members of the
Group.
Inapplicable
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Item 9. Notice of Dissolution of Group.
Inapplicable
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Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the effect
of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
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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.
February 3, 1999
(Date)
INVESTMENT ANNUITY OF ROBERT SACHS
s/Robert Sachs
(Signature)
Robert Sachs/Beneficiary
(Name/Title)
February 3, 1999
(Date)
NEW NIBCO, INC.
s/Robert Sachs
(Signature)
Robert Sachs/President
(Name/Title)
February 3, 1999
(Date)
NIBCO NEVADA, INC.
s/Robert Sachs
(Signature)
Robert Sachs/President
(Name/Title)
February 3, 1999
(Date)
RHS CORP.
s/Robert Sachs
(Signature)
Robert Sachs/President
(Name/Title)
February 3, 1999
(Date)
s/Robert Sachs
(Signature)
* Attention. Intentional misstatements or omissions of fact
constitute federal criminal violations (see 18 U.S.C. 1001).
INDEX TO EXHIBITS
-----------------
EXHIBIT 1 AGREEMENT MADE PURSUANT TO RULE
13d-1(k)(1)
AGREEMENT MADE PURSUANT TO RULE
13d-1(k)(1)
JOINT FILING AGREEMENT
Each of the parties hereto agrees that pursuant to Rule
13d-1(k)(1) of Regulation 13D-G promulgated by the Securities and
Exchange Commission pursuant to the Securities Exchange Act of
1934, as amended, the Schedule 13G of which this Agreement is
made an exhibit is filed on behalf of it.
Date: February 3, 1999
INVESTMENT ANNUITY OF ROBERT SACHS
s/Robert Sachs
Robert Sachs/Beneficiary
NEW NIBCO, INC.
s/Robert Sachs
Robert Sachs/President
NIBCO NEVADA, INC.
s/Robert Sachs
Robert Sachs/President
RHS CORP.
s/Robert Sachs
Robert Sachs/President
s/Robert Sachs
Robert Sachs
