===============================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
(Amendment No. 1)
Under the Securities Exchange Act of 1934
Concorde Career Colleges, Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.10 Par Value Per Share
- -------------------------------------------------------------------------------
(Title of Class of Securities)
20651H 10 2
- -------------------------------------------------------------------------------
(CUSIP Number of Class of Securities)
Wynnefield Partners Small Cap Value, L.P.
One Penn Plaza - Suite 4720
New York, New York 10119
Attention: Mr. Nelson Obus
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized)
to Receive Notices and Communications)
Copy to:
Jesse R. Meer, Esq.
Berlack, Israels & Liberman LLP
120 West 45th Street
New York, New York 10035
(212)-704-0100
March 21, 1997
- -------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on 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 this
Statement: ( )
===============================================================================
(Page 1 of 11 Pages)
<PAGE>
AMENDMENT NO 1 TO SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP No. 20651H102 Page 2 of 11 Pages
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3688497
- ---- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- ---- --------------------------------------------------------------------------
3 SEC USE ONLY
- ---- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- ---- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS (2)(d) or (e) [ ]
- ---- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 350,790
OWNED BY
EACH
REPORTING
PERSON
WITH
---- ------------------------------------------------------
8 SHARED VOTING POWER
_________
---- ------------------------------------------------------
9 SOLE DISPOSITIVE POWER
350,790
---- ------------------------------------------------------
10 SHARED DISPOSITIVE POWER
_________
- ---- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 350,790 shares
- ---- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( )
- ---- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.04%
- ---- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ---- --------------------------------------------------------------------------
(Page 2 of 11 Pages)
<PAGE>
AMENDMENT NO. 1 TO SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP No. 20651H102 Page 3 of 11 Pages
- -------------------------------------------------------------------------------
- ---- --------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Channel Partnership II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
22-3215653
- ---- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- ---- --------------------------------------------------------------------------
3 SEC USE ONLY
- ---- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- ---- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS (2)(d) or (e) [ ]
- ---- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
NEW YORK
- ---- --------------------------------------------------------------------------
NUMBER 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 149,000
OWNED BY
EACH
REPORTING
PERSON
WITH
8 SHARED VOTING POWER
________
---- ------------------------------------------------------
9 SOLE DISPOSITIVE POWER
149,000
---- ------------------------------------------------------
10 SHARED DISPOSITIVE POWER
_________
- ----- -------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
149,000 shares
- ----- -------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- ----- -------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.14%
- ----- -------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ----- -------------------------------------------------------------------------
(Page 3 of 11 Pages)
<PAGE>
AMENDMENT NO. 1 TO SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP No. 20651H102 Page 4 of 11 Pages
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Nelson Obus, as a joint tenant
(with Eve E. Coulson)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: ###-##-####
- ---- -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- ---- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF (SEE ITEM 3) ---------
- ---- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS (2)(d) or (e) [ ]
- ---- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
UNITED STATES OF AMERICA
- ---- --------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWERS
SHARES
BENEFICIALLY _________
OWNED BY
EACH REPORTING
PERSON
WITH
---- ------------------------------------------------------
8 SHARED VOTING POWER
70,000
---- ------------------------------------------------------
9 SOLE DISPOSITIVE POWER
________
---- ------------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,000
- ---- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
35,000 shares (Nelson Obus);
35,000 shares (Eve E. Coulson, Mr. Obus' spouse)
- ---- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( )
- ---- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1%
- ---- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---- --------------------------------------------------------------------------
(Page 4 of 11 Pages)
<PAGE>
AMENDMENT NO. 1 TO SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP No. 20651H102 Page 5 of 11 Pages
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Wynnefield Small Cap Value Offshore Fund, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Not Applicable
- ---- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- ---- --------------------------------------------------------------------------
3 SEC USE ONLY
- ---- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- ---- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS (2)(d) or (e) [ ]
- ---- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
CAYMAN ISLANDS
- ---- --------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 29,000
OWNED BY
EACH
REPORTING
PERSON
WITH
---- ------------------------------------------------------
8 SHARED VOTING POWER
________
---- ------------------------------------------------------
9 SOLE DISPOSITIVE POWER
29,000
---- ------------------------------------------------------
10 SHARED DISPOSITIVE POWER
_________
- ----- -------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 29,000 shares
- ----- -------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- ----- -------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.4%
- ----- -------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ----- -------------------------------------------------------------------------
(Page 5 of 11 Pages)
<PAGE>
Item 1. Security and Issuer.
This amended statement relates to shares of common stock, $.10
par value per share (the "Shares"), of Concorde Career Colleges, Inc., a
Delaware corporation (the "Issuer"). The principal executive offices of the
Issuer are located at 1100 Main Street, Suite 416, Kansas City, Missouri
64105.
Item 2. Identity and Background.
(a),(b),(c) and (f). This statement is being filed by Wynnefield
Partners Small Cap Value, L.P. ("Wynnefield Partners"), Channel Partnership
II, L.P. ("Channel"), Nelson Obus ("Mr. Obus") and Eve E. Coulson, joint
tenants ("Joint Tenants"), and Wynnefield Small Cap Value Offshore Fund,
Ltd. (the "Fund").
Mr. Obus' present principal employment is general partner of
Wynnefield Partners, a private investment company organized as a limited
partnership under the laws of the State of Delaware. Mr. Obus is also the
sole general partner of Channel, a private investment company organized as
a limited partnership under the laws of the State of New York, and the
President of Wynnefield Capital, Inc., the investment manager of the Fund,
a private investment company organized under the laws of the Cayman
Islands. Joshua H. Landes ("Mr. Landes") is also a general partner of
Wynnefield Partners and Channel and an officer of Wynnefield Capital, Inc.
Mr. Obus and Mr. Landes are citizens of the United States of America.
The business address of Mr. Obus, Mr. Landes, Wynnefield
Partners, Channel and the Fund is One Penn Plaza, Suite 4720, New York, New
York 10119.
(d) and (e). During the last five years, neither Mr. Obus, Mr.
Landes nor any of Wynnefield Partners, Channel or the Fund has been (i)
convicted in a criminal proceeding (excluding
(Page 6 of 11 Pages)
<PAGE>
traffic violations or similar misdemeanors) or (ii) a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree
or final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
Item 3. Source and Amount of Funds or Other
Mr. Obus purchased directly 70,000 Shares, in joint tenancy with
Eve E. Coulson, his spouse, for a total consideration of $10,070. The Joint
Tenants paid for such Shares from their personal funds.
Wynnefield Partners purchased directly 350,790 Shares for a total
consideration of $177,005.45, Channel purchased directly 149,000 Shares for
a total consideration of $30,000, and the Fund purchased directly 29,000
Shares for a total consideration of $39,875. Such Shares were paid for from
the working capital of each of Wynnefield Partners, Channel and the Fund,
each of which maintains an investment fund, consisting of capital
contributions from their respective partners and investors and capital
appreciation derived therefrom for the principal purpose of buying and
selling securities (including financial and money market instruments) and
interests in domestic and foreign securities, including, without
limitation, convertible securities, stock index features contracts,
options, puts and calls on stock and warrants.
Item 4. Purposes of Transaction.
The Joint Tenants, Wynnefield Partners, Channel and the Fund
acquired the Shares reported in Item 5 below for investment purposes. They
view the Shares as an attractive investment opportunity at this time.
(Page 7 of 11 Pages)
<PAGE>
The Joint Tenants, Wynnefield Partners, Channel and the Fund
intend to review their investments in the Issuer on a continuing basis, and
each of them reserves the right to acquire additional Shares in the open
market or in privately negotiated transactions or otherwise, to maintain
their holdings at current levels or to sell all or a portion of their
holdings in the open market or in privately negotiated transactions or
otherwise. Any such actions will depend upon, among other things, the
availability of Shares for purchase at satisfactory price levels; the
continuing evaluation of the Issuer's business, financial condition,
operations and prospects; general market, economic and other conditions;
the relative attractiveness of alternative business and investment
opportunities; the availability of financing; and other future
developments.
Except as set forth above, none of the Joint Tenants, Wynnefield
Partners, Channel or the Fund has any present plans or intentions which
would result in or relate to any of the transactions described in
subparagraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interests in Securities of the Issuer.
(a) As of the close of business on the date hereof, Mr. Obus
(together with his spouse in joint tenancy), Wynnefield Partners, Channel
and the Fund had direct beneficial ownership of a total of 598,790 Shares,
the separate ownership of which is set forth in pages 2,3, 4 and 5 of this
Amendment. Mr. Obus, by virtue of his ownership of Shares in joint tenancy
with his spouse may be deemed to have direct beneficial ownership of all
the Shares owned in joint tenancy with his spouse. Mr. Obus and Mr. Landes
by virtue of their status as general partners of Wynnefield and Channel and
their status as officers of the Fund's investment manager may be deemed to
have indirect beneficial ownership of the Shares owned by Wynnefield,
Channel and the Fund. The Shares owned by the Joint Tenants, Wynnefield
Partners,
(Page 8 of 11 Pages)
<PAGE>
Channel and the Fund aggregate 598,790 Shares, or approximately 8.6% of the
outstanding Shares of the Issuer, based on the 6,966,576 Shares reported as
outstanding on April 8, 1997 in the Issuer's proxy statement for its 1997
stockholders meeting.
Pursuant to Rule 13d-4 of the General Rules and Regulations under
the Securities and Exchange Act of 1934, as amended (the "Exchange Act"),
Mr. Obus and Mr. Landes disclaim beneficial ownership of any Shares owned
by Wynnefield Capital, Channel and the Fund and disclaim membership in any
"group" with any of the foregoing investors with respect to the Shares for
purposes of Sections 13(d) and 13(g) of the Exchange Act or for any other
purpose under any other provision of the Exchange Act or the rules and
regulations promulgated thereunder.
(b) In addition to the power of each beneficial owner to vote, or
to direct the vote and the power to dispose and to direct the disposition
of the Shares beneficially owned by each such owner, Mr. Obus and Mr.
Landes, by virtue of their status as general partners of each of Wynnefield
and Channel and as officers of the Fund's investment manager, have the
power to vote or to direct the vote and the power to dispose and to direct
the disposition of the 528,790 Shares owned by Wynnefield Partners, Channel
and the Fund.
(c) Since June 30, 1996, the date of the initial Schedule 13D
filed to report the acquisition of a more than 5% of the Shares of the
Issuer, Wynnefield Partners purchased 40,000 Shares on August 5, 1996 for a
consideration of $42,400 and 45,000 Shares on January 20, 1997 for a
consideration of $46,406.25. In addition, the Fund purchased 29,000 Shares
on March 21, 1997 for a consideration of $39,875.
(d) Each of the beneficial owners of the Shares covered by this
Amendment has the right to receive or the power
(Page 9 of 11 Pages)
<PAGE>
to direct the receipts of dividends from, or the proceeds from the sale of,
the Shares covered by this Amendment.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
None of the Joint Tenants, Wynnefield Partners, Channel or the
Fund has any contracts, arrangements, understandings or relationships
(legal or otherwise) with any person with respect to any securities of the
Issuer, including but not limited to any contracts, arrangements,
understandings or relationships concerning the transfer or voting of such
securities, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, division of profits or losses, or the
giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
Not applicable.
(Page 10 of 11 Pages)
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this
amended statement is true, complete and correct.
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this
amended statement is true, complete and correct.
Dated April 16, 1997
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By: /s/ NELSON OBUS
-----------------------------------
Nelson Obus, General Partner
/s/ NELSON OBUS
-----------------------------------
Nelson Obus on behalf of himself and
Eve E. Coulson, as Joint Tenants
CHANNEL PARTNERSHIP II, L.P.
By: /s/ NELSON OBUS
-----------------------------------
Nelson Obus, General Partner
WYNNEFIELD SMALL CAP VALUE OFFSHORE
FUND, LTD.
By: Wynnefield Capital, Inc.
/s/ NELSON OBUS
-----------------------------------
Nelson Obus, President
(Page 11 of 11 Pages)
