<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
------------------
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-
1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
SmartSources.com, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
83170D11
- --------------------------------------------------------------------------------
(CUSIP Number)
Nathan Nifco
2030 Marine Drive, Suite 100
North Vancouver, British Columbia V7P 1V7, Canada
604/986-0889
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 11, 1999
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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
[ ].
(Continued on following pages)
<PAGE> 2
<TABLE>
<S> <C> <C> <C> <C> <C>
- ------------------------------ -----------------------
CUSIP NO. 83170D11 13D PAGE 2 OF 7 PAGES
- ------------------------------ -----------------------
- ----------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Nathan Nifco
- ----------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ----------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mexico
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NUMBER OF 7 SOLE VOTING POWER 3,003,070 shares
SHARES
BENEFICIALLY -------------------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER N/A
EACH
REPORTING -------------------------------------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER 3,003,070 shares
-------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER N/A
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,003,070 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X]
5,575 shares owned by Nifco Family Trust, of which Nathan
Nifco is trustee. Mr. Nifco disclaims beneficial interest in such
shares and the shares owned by his wife, Dina Nifco.
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.5%
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14 TYPE OF REPORTING PERSON*
Individual
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
<TABLE>
<S> <C> <C> <C> <C> <C>
- ------------------------------ -----------------------
CUSIP NO. 83170D110 13D PAGE 3 OF 7 PAGES
- ------------------------------ -----------------------
- ----------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Dina Nifco
- ----------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mexico
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NUMBER OF 7 SOLE VOTING POWER 2,991,355 shares
SHARES
BENEFICIALLY -------------------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER N/A
EACH
REPORTING -------------------------------------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER 2,991,355 shares
-------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER N/A
- ----------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,991,355 shares
- ----------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [X]
Mrs. Nifco disclaims beneficial ownership of the shares owned by her husband, Nathan Nifco.
Mrs. Nifco is a beneficiary of a trust which owns 5,575 shares; however, she does not have
either voting or dispositive power with respect to such shares.
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.4%
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14 TYPE OF REPORTING PERSON*
Individual
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
<TABLE>
<S> <C> <C> <C> <C> <C>
- ------------------------------ -----------------------
CUSIP NO. 83170D11 13D PAGE 4 OF 7 PAGES
- ------------------------------ -----------------------
- ----------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Nifco Family Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ----------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
- ----------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 5,575 shares
SHARES
BENEFICIALLY -------------------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER N/A
EACH
REPORTING -------------------------------------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER 5,575 shares
-------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER N/A
- ----------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,575 shares
- ----------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [X]
The Trust disclaims beneficial ownership of the shares owned by Nathan Nifco and Dina Nifco.
Mr. Nifco is the Trustee of the Trust, and Mrs. Nifco is a beneficiary.
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.01%
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14 TYPE OF REPORTING PERSON*
Trust
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 13D
Item 1. Security and Issuer.
Common Stock, no par value.
SmartSources.com, Inc.
2030 Marine Drive, Suite 100
North Vancouver, British Columbia
V7P 1V7 Canada
Item 2. Identity and Background.
Set forth below is the following information with respect to each
person filing this statement.
<TABLE>
<CAPTION>
Item 2(d) or 2(e)
Convictions, Judgments,
Name Principal Occupation Decrees, or Orders Citizenship
---- -------------------- ------------------ -----------
<S> <C> <C> <C>
Nathan Nifco Chairman of the Company None Canada
Dina Nifco Dentist None Canada
Nifco Family Trust N/A None Mexico
</TABLE>
Mr. Nifco is the husband of Mrs. Nifco and the Trustee of the Trust.
Mrs. Nifco is a beneficiary of the Trust. The address of each
shareholder named above is 2220 Mathers Avenue, West Vancouver, British
Columbia, V7V 2H5 Canada.
Item 3. Source and Amount of Funds or Other Consideration.
On December 11, 1998, SmartSources.com, Inc., then known as Innovest
Capital Sources Corporation (the "Company"), acquired all of the
capital stock of Nifco Investments Ltd. ("Nifco") in exchange for
6,000,000 shares of Common Stock (the "Common Stock") issued to former
shareholders of Nifco (the "Exchange Transaction"). The Exchange
Transaction resulted in the former shareholders of Nifco owning Common
Stock in the Company as follows:
<TABLE>
<CAPTION>
No. of No. of Percentage of
Selling Shareholder Nifco Shares Company Shares Common Stock
------------------- ------------ -------------- ------------
<S> <C> <C> <C>
Nathan Nifco 538,601 3,003,070 27.5
Dina Nifco 536,500 2,991,355 27.4
Nifco Family Trust 1,000 5,575 0.01
</TABLE>
(Page 5 of 7 Pages)
<PAGE> 6
Item 4. Purpose of Transaction.
Upon consummation of the Exchange Transaction, Nifco became a
wholly-owned subsidiary of the Company, and the former shareholders of
Nifco became the owners of approximately 55% of the Common Stock of the
Company. The Company intends to utilize the public markets to obtain
additional capital for the development of the business of Nifco. The
Exchange Transaction was consummated pursuant to a Share Exchange
Agreement dated December 11, 1998.
Item 5. Interest in Securities of the Issuer.
Nathan Nifco is the beneficial owner of 3,003,070 shares (27.5%) of the
Common Stock of the Company. Mr. Nifco disclaims beneficial interest in
the shares of Common Stock of the Company owned by the Nifco Family
Trust or Dina Nifco. Dina Nifco is the beneficial owner of 2,91,355
shares (27.4%) of the Common Stock of the Company. Mrs. Nifco disclaims
beneficial ownership of the shares of Common Stock of the Company owned
by Mr. Nifco or the Nifco Family Trust. The Nifco Family Trust is the
beneficial owner of 5,575 shares of Common Stock of the Company. The
Nifco Family Trust disclaims beneficial ownership of the shares owned
by Nathan Nifco or Dina Nifco.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
In addition to the matters described in Items 3 and 4, Section 5.4 of
the Share Exchange Agreement provided for the resignation of all of the
officers and directors of the Company at Closing (as defined therein).
Those directors and officers were replaced by Nathan Nifco, among
others. Section 8.1(g) of the Share Exchange Agreement required the
Company to carry out a reverse stock split of the Company Common Stock
at the ratio of 75 shares to 1 share (provided that no shareholder
would have his or its ownership reduced to less than 100 shares) prior
to Closing.
Item 7. Material to Be Filed as Exhibits.
1. Share Exchange Agreement entered into by and between Nathan
Nifco, Dina Nifco, The Nifco Family Trust, Nifco Investments
Ltd. and SmartSources.com, Inc., on December 11, 1998, filed
as Exhibit 1 to the Current Report on Form 8-K dated December
11, 1998, is incorporated herein by reference.
(Page 6 of 7 Pages)
<PAGE> 7
SIGNATURES
After reasonable inquiry and to the best of their individual knowledge
and belief, each of the signatories below certifies that the information set
forth in this statement is true, complete, and correct.
The persons whose signatures appear below agree that this statement on
Schedule 13D is filed on behalf of each of them.
Executed as of April 1, 1999
/s/ Nathan Nifco
---------------------------------------------
Nathan Nifco
/s/ Dina Nifco
---------------------------------------------
Dina Nifco
NIFCO FAMILY TRUST
By: /s/ Nathan Nifco
------------------------------------
Nathan Nifco, Trustee
(Page 7 of 7 Pages)
