UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)
HOMEOWNERS GROUP, INC.
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(Name of Issuer)
Common Stock, $0.01 Par Value
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(Title of Class of Securities)
43739N107
(CUSIP Number)
Howard L. Wolk, President
NAPAQ Corporation
4040 Mystic Valley Parkway
Boston, MA 02155
-with copies to-
Robert M. Rosen, Esq.
Lane Altman & Owens LLP
101 Federal Street
Boston, Massachusetts, 02110
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 6, 1997
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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 [ ].
Check the following box if a fee is being paid with the statement. [ ] (A fee is
not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13-d(a) for other parties to whom copies are to be
sent.
*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).
SCHEDULE 13D
CUSIP No. 43739N107 Page 2 of 8 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above PeNAPAQ Corporation
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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 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization Nevada
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Number of 7 Sole Voting Power 126,000
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power -0-
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 126,000
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power -0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 126,000
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented by Amount in Row (11) 2.27%
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14 Type of Reporting Person* PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 43739N107 Page 3 of 8 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above PeCross Country Motor Club, 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 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization Massachusetts
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Number of 7 Sole Voting Power 362,500
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power -0-
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 362,500
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power -0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 362,500
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented by Amount in Row (11) 6.522%
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14 Type of Reporting Person* CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 43739N107 Page 4 of 8 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above PeJeffrey C. Wolk
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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 Source of Funds* PF
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization United States
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Number of 7 Sole Voting Power 3,000
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power -0-
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 3,000
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power -0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,000
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented by Amount in Row (11) .054%
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14 Type of Reporting Person* IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 43739N107 Page 5 of 8 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above PeHAC, 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 Source of Funds* WC
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization Delaware
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Number of 7 Sole Voting Power 1,147,000
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power -0-
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 1,147,000
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power -0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,147,000
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented by Amount in Row (11) 20.635%
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14 Type of Reporting Person* PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
CUSIP NO. 43739N107 Page 6 of 8 Pages
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This Amendment No. 7 relates to the Schedule 13D originally filed on
behalf of the Reporting Persons on April 4, 1996. The text of Items 3 and 5 are
hereby amended by adding the following:
Item 3. Source and Amount of Funds.
The source and amount of funds used by HAC, Inc. to purchase securities
of the Issuer was working capital. The approximate aggregate amount of funds
used by HAC, Inc. to purchase such securities was $2,291,212.
Item 5. Interest in Securities of the Issuer.
(a) HAC, Inc. is the beneficial owner of 1,147,000 shares of Common
Stock of the Issuer, all of which were acquired in privately
negotiated transactions. The total number of shares of Common
Stock beneficially owned by HAC, Inc. represents 20.635% of the
shares of Common Stock outstanding.
The number of shares owned and the percentage of outstanding
shares represented thereby, for each of the Reporting Persons,
have been computed in accordance with Rule 13d-3 under the
Securities Exchange Act of 1934, as amended. The percentage of
ownership described above is based on the 5,558,350 outstanding
shares of Common Stock of the Issuer reported in the Issuer's Form
10-K for the fiscal year ended December 31, 1996.
(b) HAC, Inc. has the sole power to vote or dispose of or to direct
the voting or to direct the disposition of the Common Stock of the
Issuer beneficially owned by it.
(c) On May 6, 1997, HAC, Inc. purchased 1,027,000 shares of Common
Stock of the Issuer at a price of $2.03 per shares for a total
amount of $2,084,810 in a single privately negotiated transaction.
As a result of such acquisition, The Cross Country Group, Inc. has
represented to the Issuer that neither it nor its affiliates will
seek to change the Issuer's Board of Directors, or otherwise
exercise control of the Issuer prior to consummation of Merger
contemplated by the Agreement and Plan of the Merger dated as of
May 14, 1996, as amended.
CUSIP NO. 43739N107 Page 7 of 8 Pages
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After reasonable inquiry and to the best of our knowledge and belief,
we each certify that the information set forth in this statement is true,
complete and correct. This statement may be executed in multiple counterparts,
each of which shall be deemed an original and all of which shall constitute one
(1) instrument.
The Cross Country Motor Club, Inc.
by: /s/ Howard L. Wolk
----------------------------------------
Howard L. Wolk, Vice President
NAPAQ Corporation
by: /s/ Howard L. Wolk
----------------------------------------
Howard L. Wolk, Vice President
/s/ Jeffrey C. Wolk
----------------------------------------
Jeffrey C. Wolk
HAC, Inc.
by: /s/ Howard L. Wolk
---------------------------------------
Howard L. Wolk, Vice President
Dated: May 6, 1997
CUSIP NO. 43739N107 Page 8 of 8 Pages
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EXHIBIT A
AGREEMENT OF JOINT FILING
HOMEOWNERS GROUP, INC.
COMMON STOCK, $0.01 PAR VALUE
In accordance with Rule 13D-1(f) under the Securities Exchange Act of
1934, as amended, the undersigned hereby confirm the agreement by and among them
to the joint filing on behalf of each of them of a Statement on Schedule 13D,
and any and all amendments thereto, with respect to the above-referenced
securities and that this Agreement be included as an Exhibit to such filing.
This Agreement may be executed in any number of counterparts each of
which shall be deemed to be an original and all of which together shall be
deemed to constitute one and the same Agreement.
WITNESS WHEREOF, the undersigned hereby execute this Agreement on this
6th day of May, 1997.
NAPAQ Corporation
by: /s/ Howard L. Wolk
--------------------------------------
Howard L. Wolk, Vice President
The Cross Country Motor Club, Inc.
by: /s/ Howard L. Wolk
--------------------------------------
Howard L. Wolk, Vice President
/s/ Jeffrey C. Wolk
--------------------------------------
Jeffrey C. Wolk
HAC, Inc.
by: /s/ Howard L. Wolk
--------------------------------------
Howard L. Wolk, Vice President
Dated: May 6, 1997
