FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION
Check this WASHINGTON, D.C. 20549
box if no longer
subject to Section STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECUR ITIES
16. Form 4 or Form
5 obligations may
continue. See
Instruction 1(b).
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
____________________________________________________________________________
1. Name and Address of Reporting Person
Sachs Robert
_________________________________________________________________________
(Last) (First) (Middle)
200 North Swall Drive, PH 58
_________________________________________________________________________
(Street)
Beverly Hills CA 90211
_________________________________________________________________________
(City) (State) (Zip)
____________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Information Management Technologies Corporation, IMTKA
____________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
____________________________________________________________________________
4. Statement for Month/Year March 1999
____________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
____________________________________________________________________________
6. Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director
(XX) 10% Owner
( ) Officer (give title below)
( ) Other (Specify below)
____________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
XX Form filed by One Reporting Person
___Form filed by More than One Reporting Person
FORM 4 (continued) Table I - Non-Derivative Securities Acquired,
Disposed of, or Beneficially Owned
_______________________________________________________________________________
|1. Title of |2. Trans-|3. Trans-|4. Securities |5. Amount|6. Owner-|7. Na- |
|Security |action |action |Acquired (A) or |of Secur-|ship |ture of|
|(Instr. 3) |Date |Code |Disposed of (D) |ities |Form: |Indi- |
| |(Month/ |(Instr. |(Instr. 3, 4 and|Benefic- |Direct |rect |
| |Day/Year)|8) |5) |ially |(D) or |Bene- |
| | |_________|________________|Owned at |Indirect |ficial |
| | | | |Amount|(A)|Price|End of |(I) |Owner- |
| | |Code| V | |or | |Month |(Instr. |ship |
| | | | | |(D)| |(Instr. 3|4) |(Instr.|
| | | | | | | |and 4) | |4)
|
| | | | | | | | | |
|
|Common Stock|3/22/99 |J<1>| | <1> | A | <1> |2,101,800| (I) | <2>
|
|Common Stock|3/22/99 |J<1>| | <1> | A | <1> |1,043,002| (I) | <3>
|
|Common Stock|3/22/99 |J<1>| | <1> | A | <1> | 719,422| (I) | <4>
|
|Common Stock|3/22/99 |J<1>| | <1> | A | <1> |2,289,098| (I) | <5>
|
|____________|_________|____|____|______|___|_____|_________|_________|_______|
*If the Form is filed by more than one Reporting Person, See Instruction
4(b)(v).
Reminder: report on a separate line for each class of securities beneficially
owned directly or indirectly.
============================================================================
Table II - Derivative Securities Acquired, Disposed of,
or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
_______________________________________________________________________________
|1. Title of |2. Conver- |3. Trans- |4. Trans-|5. Number of |6. Date Exer- |
|Derivative |sion or |action |action |Derivative |cisable and |
|Security |Exercise |Date |Code |Securities |Expiration |
|(Instr. 3) |Price of |Month/ |(Instr. |Acquired (A) |Date |
| |Derivative |Day/Year |8) |or Disposed |(Month/Day/ |
| |Security | | |of (D) |Year) |
| | | | |(Instr. 3, | |
| | | | |4 and 5) | |
| | | |_________|______________|________________|
| | | |Code| V | (A) | (D) |Date |Expira- |
| | | | | | | |Exer- |tion |
| | | | | | | |cisable|Date |
|____________|___________|__________|____|____|_______|______|_______|________|
|Class A | $1.75 | <6> |J<6>| | 23,750| |present|4/5/00 |
|Warrants | | | | | | | | |
|____________|___________|__________|____|____|_______|______|_______|________|
|Options | $2.50 | <6> |J<6>| |225,000| |present|11/27/00|
|____________|___________|__________|____|____|_______|______|_______|________|
|Options | $2.50 | <6> |J<6>| | 74,793| |present|12/15/00|
|____________|___________|__________|____|____|_______|______|_______|________|
|Options | $2.00 | <6> |J<6>| | 8,178| |present|12/15/00|
|____________|___________|__________|____|____|_______|______|_______|________|
|Options | $2.00 | <6> |J<6>| | 22,711| |present|12/15/00|
|____________|___________|__________|____|____|_______|______|_______|________|
|Options | $2.00 | <6> |J<6>| | 36,337| |present|12/15/00|
|____________|___________|__________|____|____|_______|______|_______|________|
|Options | $2.00 | <6> |J<6>| | 39,667| |present|12/15/00|
|____________|___________|__________|____|____|_______|______|_______|________|
_______________________________________________________________________________
|1. Title of |7. Title and |8. Price-|9. Number |10. Ownership |11. Nature |
|Derivative |Amount of |of Deri- |of Deriv- |Form of Deriva-|of Indirect|
|Security |Underlying |vative |ative |tive Security: |Beneficial |
|(Instr. 3) |Securities |Security |Securities|Direct ((D) |Ownership |
| |(Instr. 3 |(Instr. |Benefic- |Indirect (I) |(Instr. 4) |
| |and 4) |5) |ially |(Instr. 4) | |
| |_______________| |Owned at | | |
| | |Amount or| |End of | | |
| |Title|Number of| |Month | | |
| | |Shares | |(Instr. 4)| | |
|____________|_____|_________|_________|__________|_______________|___________|
|Class A |Com- | 23,750 | <6> | 23,750 | (I) | <2> |
|Warrants |mon | | | | | |
|____________|_____|_________|_________|__________|_______________|___________|
|Options |Com- | 225,000 | <6> | 225,000 | (D) | |
| |mon | | | | | |
|____________|_____|_________|_________|__________|_______________|___________|
|Options |Com- | 74,793 | <6> | 74,793 | (D) | |
| |mon | | | | | |
|____________|_____|_________|_________|__________|_______________|___________|
|Options |Com- | 8,178 | <6> | 8,178 | (I) | <3> |
| |mon | | | | | |
|____________|_____|_________|_________|__________|_______________|___________|
|Options |Com- | 22,711 | <6> | 22,711 | (I) | <4> |
| |mon | | | | | |
|____________|_____|_________|_________|__________|_______________|___________|
|Options |Com- | 36,337 | <6> | 36,337 | (I) | <5> |
| |mon | | | | | |
|____________|_____|_________|_________|__________|_______________|___________|
|Options |Com- | 39,667 | <6> | 39,667 | (I) | <2> |
| |mon | | | | | |
|____________|_____|_________|_________|__________|_______________|___________|
Explanation of Responses:
<1> The Investment Annuity of Robert Sachs (the "Investment Annuity"), New
Nibco Inc. ("New Nibco"), Nibco Nevada Inc. ("Nibco Nevada") and RHS Corp.
("RHS" and, together with the Investment Annuity, New Nibco and Nibco Nevada,
the "Entities"), all of which are controlled by Robert Sachs ("Sachs"), owned
convertible subordinated debentures issued by Information Management
Technologies Corporation ("Imtech") (Investment Annuity - $225,000 principal
amount, New Nibco - $141,000 principal amount, Nibco Nevada - $50,000 principal
amount and RHS - $250,000 principal amount). The debentures were exchanged for
shares of Imtech 12% Redeemable Convertible Preferred Stock ("Preferred Stock")
in 1996. The Preferred Stock was convertible into Imtech Common Stock ("Common
Stock") at a ratio based upon the trading price of the Common Stock. The
Entities requested conversion of their Preferred Stock during the autumn of
1998 and received an aggregate of 1,591,649 shares of Common Stock (Investment
Annuity - 633,518 shares, New Nibco - 140,783 shares, Nibco Nevada - 397,005
shares and RHS - 422,343 shares) on December 29, 1998. The number of shares of
Common Stock which the Entities received on December 29, 1998, was
substantially less than the number of shares to which they believed they were
entitled under the terms of the Preferred Stock and the Entities requested that
additional shares of Common Stock be issued to them on several occasions.
Imtech refused to issue the additional shares requested by the Entities. On
January 29, 1999, the Investment Annuity, New Nibco, Nibco Nevada, RHS and
Sachs filed suit against Imtech in the Federal District Court in the Southern
District of New York seeking an award of additional shares of Common Stock.
Pursuant to the Order signed by Judge Irving Pollack on March 15, 1999, and
stipulated to by all parties on March 25, 1999, Imtech instructed its transfer
agent to issue 1,450,882 additional shares of Common Stock to the Investment
Annuity, 902,219 additional shares of Common Stock to New Nibco, 322,417
additional shares of Common Stock to Nibco Nevada and 1,893,655 additional
shares of Common Stock to RHS.
<2> As beneficiary of the Investment Annuity of Robert Sachs.
<3> As sole stockholder of New Nibco.
<4> As sole stockholder of Nibco Nevada.
<5> As sole stockholder of RHS.
<6> The options were acquired in connection with the 1996 exchange of
debentures for Preferred Stock described in note <1>. Some were acquired as
part of the exchange and others were acquired in consideration for assisting in
structuring the exchange.
s/ Robert Sachs 4/27/99
** Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
