UNITED STATES
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 RULE 13d-2(b)
Compositech Ltd.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
204938 104
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(CUSIP Number)
February 9, 1998
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(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)
(1) 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 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).
<PAGE>
CUSIP No. 204938 104
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Composite Technologies Inc.
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2 Check the Appropriate Box If a Member of a Group
a. |_|
b. |X|
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3 SEC Use Only
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4 Citizenship or Place of Organization
Taiwan, The Republic of China
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5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 587,372
Person --------------------------------------------------------
With 7 Sole Dispositive Power
587,372
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8 Shared Dispositive Power
0
--------------------------------------------------------
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
587,372
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
6.6%
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12 Type of Reporting Person
CO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 204938 104
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Win Win Venture Capital Corp.
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2 Check the Appropriate Box If a Member of a Group
a. |_|
b. |X|
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3 SEC Use Only
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4 Citizenship or Place of Organization
Taiwan, The Republic of China
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5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 270,000
Person --------------------------------------------------------
With 7 Sole Dispositive Power
270,000
--------------------------------------------------------
8 Shared Dispositive Power
0
--------------------------------------------------------
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
270,000
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
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11 Percent of Class Represented By Amount in Row (9)
3.0%
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12 Type of Reporting Person
CO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 204938 104
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Dr. Cheng-Ming Lee
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2 Check the Appropriate Box If a Member of a Group
a. |_|
b. |X|
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3 SEC Use Only
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4 Citizenship or Place of Organization
Taiwan, The Republic of China
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5 Sole Voting Power
Number of
Shares 10,000
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 857,372
Person --------------------------------------------------------
With 7 Sole Dispositive Power
10,000
--------------------------------------------------------
8 Shared Dispositive Power
0
--------------------------------------------------------
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
867,372
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
9.7%
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12 Type of Reporting Person
IN
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SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1(a): Name of Issuer:
Compositech Ltd.
Item 1(b): Address of Issuer's Principal Executive Offices:
120 Ricefield Lane, Hauppage, New York 11788-2008
Item 2(a): Name of Persons Filing:
Composite Technologies, Inc.
Win Win Venture Capital Corp.
Dr. Cheng-Ming Lee
Item 2(b): Address of Principal Business Office or, if None, Residence:
6F, #143 Section 2 Ming-Sheng East Road, Taipei, Taiwan
Item 2(c): Citizenship:
Taiwan, Republic of China
Item 2(d): Title of Class of Securities:
Common Stock
Item 2(e): CUSIP Number:
204938-10-4
Item 3: If this Statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a:
(a) Broker or dealer registered under Section 15 of the Exchange Act.
(b) Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) Investment company registered under Section 8 of the Investment
Company Act.
(e) An investment adviser in accordance with Rule 13d-(b)(1)(ii)(E);
<PAGE>
(f) An employee benefit plan or endowment fund in accordance with Rule
13d- 1(b)(1)(ii)(F);
(g) A parent holding company or control person in accordance with Rule
13d- 1(b)(1)(ii)(G);
(h) A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act;
(j) Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. |X|
Item 4. Ownership.
As a member of the Board of Directors of Win Win Venture Capital
Corp. and Composite Technologies, Inc., Dr. Cheng-Ming Lee has been delegated
the power to vote the shares of common stock, par value $.01 of Compositech Ltd.
owned by each of them. Therefore, Dr. Lee may be deemed to be, for purposes of
Rule 13d-3 under the Securities Exchange Act of 1934 (the "Exchange Act"), the
beneficial owner of the securities covered by this statement. Win Win Venture
Capital Corp., Composite Technologies, Inc. and Dr. Lee are of the view that
they are not acting as a "group" for purposes of Section 13(d) under the
Exchange Act and that they are not otherwise required to attribute to each other
the beneficial ownership of securities held by any of them. Provide the
following information regarding the aggregate number and percentage of the class
of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 867,372
(b) Percent of class: 9.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Composite Technologies, Inc. 0
Win Win Venture Capital Corp. 0
Dr. Cheng-Ming Lee 10,000
(ii) Shared power to vote or to direct the vote:
<PAGE>
Composite Technologies, Inc. 587,372
Win Win Venture Capital Corp. 270,000
Dr. Cheng-Ming Lee 857,372
(iii) Sole power to dispose or to direct the disposition of:
Composite Technologies, Inc. 587,372
Win Win Venture Capital Corp. 270,000
Dr. Cheng-Ming Lee 10,000
(iv) Shared power to dispose or to direct the disposition of:
Composite Technologies, Inc. 0
Dr. Cheng-Ming Lee 0
Win Win Venture Capital Corp. 0
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [ ].
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
<PAGE>
Item 10. Certifications.
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.
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.
May 26, 1998
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(Date)
COMPOSITE TECHNOLOGIES, INC.
By: /s/ Dr. Cheng-Ming Lee
-------------------------------------
Dr. Cheng-Ming Lee
Chairman
WIN WIN VENTURE CAPITAL CORP.
By: /s/ Dr. Cheng-Ming Lee
-------------------------------------
Dr. Cheng-Ming Lee
President
/s/ Dr. Cheng-Ming Lee
-------------------------------------
Dr. Cheng-Ming Lee
