<PAGE> 1
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 2
Under the Securities Exchange Act of 1934
Consolidated Capital of North America, Inc.
(Name of Issuer)
Common Stock, par value $.0001 per share
(Title of Class of Securities)
208892208
(CUSIP Number)
Thomas P. Gallagher, Esq., Gallagher, Briody & Butler
212 Carnegie Center, Suite 402, Princeton, New Jersey 08540
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
JANUARY 30, 1998
(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 [].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(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).
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SCHEDULE 13D
CUSIP No. 208892208
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stone Pine Colorado, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) []
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (see instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS []
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Colorado
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 8,780,503
----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 6,799,367
----------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,780,503
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) []
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
48.57%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
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SCHEDULE 13D
CUSIP No. 208892208
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stone Pine Capital, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) []
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (see instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS []
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Colorado
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 33,333
--------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,912,003
--------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 33,333
--------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 6,930,867
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,945,336
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) []
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
49.12%
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14 TYPE OF REPORTING PERSON
00
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SCHEDULE 13D
CUSIP No. 208892208
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Paul Bagley
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) []
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (see instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS []
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 3,350,500
--------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 9,842,669
--------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 3,350,500
--------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 7,861,533
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,198,169
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) []
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
63.75%
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14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
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SCHEDULE 13D
CUSIP No. 208892208
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stone Pine Atlantic Equities, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) []
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (see instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS []
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Colorado
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
--------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,912,003
--------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
--------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 6,930,867
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,912,003
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) []
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
48.94%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
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SCHEDULE 13D
CUSIP No. 208892208
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
W. Duke DeGrassi
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) []
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (see instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS [ ]
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
--------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,945,336
--------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
--------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 6,964,200
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,945,336
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) []
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
49.12%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
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SCHEDULE 13D
CUSIP No. 208892208
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Thompson H. Rogers
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) []
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (see instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS []
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 30,000
--------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 9,777,835
--------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 30,000
--------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 7,796,699
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,807,835
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) []
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
52.11%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 8
This Amendment No. 2 amends and supplements the Schedule 13D filed by
Stone Pine Colorado, LLC ("SP Colorado"), Stone Pine Capital, LLC ("SP
Capital"), Paul Bagley, Stone Pine Atlantic Equities, LLC ("SPA Equities"), W.
Duke DeGrassi and Thompson H. Rogers with respect to the shares of common
stock, par value $.0001 per share of Consolidated Capital North America, Inc.
(the "Company"), reported therein.
Item 2 Identity and Background.
Item 2 is hereby amended and supplemented to add the following:
(a) This statement is being filed jointly by (i) SP
Colorado, the entity which directly owns 6,481,867 of the Company's outstanding
common stock and 317,500 Series B Convertible Preferred Shares of the Company,
(ii) the following entities and individuals who are members of SP Colorado (the
"Members") and each own an equal voting interest in SP Colorado: SP Capital,
SPA Equities, and Thompson H. Rogers; (iv) the following persons who have been
designated as the voting persons for SP Capital and SPA Equities, respectively:
Paul Bagley and W. Duke DeGrassi (the "Voting Persons") and (v) Paul Bagley,
individually. SP Colorado, SP Capital, SPA Equities, Thompson H. Rogers, Paul
Bagley and W. Duke DeGrassi are referred to herein as the Reporting Persons and
all references to Reporting Persons in the Schedule 13D and any amendments
thereto shall include the Voting Persons as Reporting Persons.
Item 3 Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended and supplemented to add the following
information:
See Item 5(c).
Item 5 Interest in Securities of the Company.
Item 5 is hereby amended and supplemented to add the following
information:
(a)(b) Taking into effect the transactions reported in Item 5(c)
below, the number and percentage of the class of the Company's Common Shares
beneficially owned by each Reporting Person is as follows:
(i) Stone Pine Colorado, LLC is the beneficial owner of 8,780,503
Common Shares (48.57%) consisting of (1) 6,481,867 Common Shares
directly owned by SP Colorado (the "SP Colorado Common Shares"), (2)
1,981,136 Common Shares which SP Colorado has voting control pursuant
to a proxy granted to SP Colorado (the "Proxy Shares") and (3) 317,500
Series B
1
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Preferred Shares directly owned by SP Colorado, which are convertible
into 317,500 Common Shares of the Company (the "SP Colorado Preferred
Shares").
(ii) Stone Pine Capital, LLC directly owns 33,333 Common
Shares (the "SP Capital Common Shares") and as a member of SP Colorado
shares the right to vote the Proxy Shares and vote and dispose or
direct the disposition of the SP Colorado Common Shares and the SP
Colorado Preferred Shares. SP Capital is also a member of Stone Pine
Atlantic, LLC ("SP Atlantic") which owns 131,500 Series B Preferred
Shares which are convertible into 131,500 Common Shares of the Company
(the "SP Atlantic Shares"), and shares the right to vote and dispose
or direct the disposition of the SP Atlantic Shares. SP Capital may
be deemed to be the beneficial owner of the (1) 6,481,867 SP Colorado
Common Shares, (2) 1,981,136 Proxy Shares, (3) 317,500 SP Colorado
Preferred Shares and (4) 131,500 SP Atlantic Shares, which together
with the 33,333 SP Capitol Common Shares amount to 8,945,336 Common
Shares of the Company (49.12%).
(iii) Stone Pine Atlantic Equities, LLC as a member of SP
Colorado shares the right to vote the Proxy Shares and vote and
dispose or direct the disposition of the SP Colorado Common Shares and
the SP Colorado Preferred Shares. SPA Equities is also a member of SP
Atlantic and shares the right to vote and dispose or direct the
disposition of the SP Atlantic Shares. SPA Equities may be deemed to
be the beneficial owner of the (1) 6,481,867 SP Colorado Common
Shares, (2) 1,981,136 Proxy Shares, (3) 317,500 SP Colorado Preferred
Shares and (4) 131,500 SP Atlantic Shares, which together amount to
8,912,003 Common Shares of the Company (48.94%).
(iv) Thompson H. Rogers directly owns 30,000 Common
Shares (the "Rogers Common Shares") which Mr. Rogers has sole voting
and dispositive power. Mr Rogers is: (1) a member of SP Colorado; (2)
a member of ERB Acquisition Group, LLC ("ERB") which owns 110,000
Common Shares and 384,000 Series B Preferred Shares which are
convertible into 384,000 Common Shares of the Company (together, the
"ERB Shares"); and (3) a member of Stone Pine Financial Group, LLC
("SP Financial") which owns 76,666 Common Shares and 360,000 Series A
Preferred Shares which are convertible into 360,000 Common Shares of
the Company (together, the "SP Financial Shares"). Mr. Rogers shares
the right to vote and dispose or direct the disposition of the shares
owned by SPC, ERB and SP Financial. Mr. Rogers also shares the right
to vote the Proxy Shares. Mr. Rogers may be deemed to be the
beneficial owner of the (i) 6,481,867 SP Colorado Common Shares, (ii)
1,981,136 Proxy Shares, (iii) 317,500 SP Colorado Preferred Shares,
(iv) 494,000 ERB Shares, and 436,666 SP Financial Shares, which
together with the
2
<PAGE> 10
30,000 Rogers Common Shares amount to 9,741,169 Common Shares of the
Company (51.75%).
(v) W. Duke DeGrassi as the voting person for SPA
Equities shares the right to vote the Proxy Shares and shares the
right to vote and dispose or direct the disposition of the SP Colorado
Common Shares and the SP Colorado Preferred Shares. Mr. DeGrassi is
also the voting person for SPA Equities which is a member of SP
Atlantic and shares the right to vote and dispose or direct the
disposition of the shares owned by SP Atlantic. Mr. DeGrassi may be
deemed to be the beneficial owner of the (i) 6,481,867 SP Colorado
Common Shares, (ii) 1,981,136 Proxy Shares, (iii) 317,500 SP Colorado
Preferred Shares, and (iv) 131,500 SP Atlantic Shares, which together
amount to 8,912,003 Common Shares of the Company (48.94%).
(vi) Paul Bagley directly owns 1,533,834 Common Shares
(the "Bagley Shares") and Mr. Bagley's spouse owns 5,000 Common
Shares (the "Indirect Shares"). Mr. Bagley also holds a convertible
note of the Company which is convertible into 1,750,000 Common Shares
of the Company (the "Bagley Conversion Shares"). Mr. Bagley has sole
voting and dispositive power with respect to the Bagley Shares and the
Bagley Conversion Shares and has no voting or dispositive power with
respect to the Indirect Shares. As the voting person for SP Capital,
Mr. Bagley shares the right to vote the Proxy Shares and vote and
dispose or direct the disposition of the SP Colorado Common Shares,
the SP Colorado Preferred Shares and the SP Capital Shares. Mr.
Bagley is also a member of (1) ERB; (2) SP Financial; (3) Stone Pine
Capital, LLC ("SP Capital") which owns 33,333 Common Shares (the "SP
Capital Shares"); (4) Stone Pine Advisors Group, LLC ("SP Advisors")
which owns 33,333 Common Shares (the "SP Advisors Shares"); and (5) SP
Atlantic. Mr. Bagley has sole voting and dispositive power with
respect to the shares owned by SP Capital and SP Advisors. Mr. Bagley
shares the right to vote and dispose or direct the disposition of the
shares owned by SPC, ERB, SP Financial, and SP Atlantic. Mr. Bagley
may be deemed to be the beneficial owner of the (i) 6,481,867 SP
Colorado Common Shares, (ii) 1,981,136 Proxy Shares, (iii) 317,500 SP
Colorado Preferred Shares, (iv) 494,000 ERB Shares, (v) 436,666 SP
Financial Shares, (vi) 33,333 SP Capital Shares, (vii) 33,333 SP
Advisors Shares, and (vii) 131,500 SP Atlantic Shares, which together
with the 1,533,834 Bagley Shares, the 5,000 Indirect Shares and the
1,750,000 Bagley Conversion Shares amount to 13,198,169 Common Shares
of the Company (63.75%).
(c) (i) On January 30, 1998, the Company issued to Paul
Bagley 1.5 million Company Common Shares in consideration of a loan made by Mr.
Bagley in January 1998 to the Company. In connection therewith the Company
issued to Mr. Bagley a convertible note of
3
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the Company convertible, at the option of the holder, into 1,750,000 Company
Common Shares.
(ii) On January 30, 1998, the Company issued to Paul
Bagley 33,334 Company Common Shares in consideration of a loan
made by Mr. Bagley in December 1997 to the Company.
(iii) On January 30, 1998, the Company issued to Stone Pine
Capital, LLC 33,333 Company Common Shares in consideration of a loan
made by Stone Pine Capital, LLC in December 1997 to the Company.
(iv) On January 30, 1998, the Company issued to Stone
Pine Advisors, LLC 33,333 Company Common Shares in consideration
of a loan made by Stone Pine Advisors, LLC in December 1997 to the
Company.
(v) On December 31, 1997, the Board of Directors of the
Company approved the issuance of the following number of Convertible
Preferred Shares of the Company in exchange for the forgiveness of
outstanding indebtedness and other obligations of the Company to the
following:
Stone Pine Financial Group, LLC 360,000 Series A Shares
ERB Acquisition Group, LLC 384,000 Series A Shares
Stone Pine Atlantic, LLC 131,500 Series B Shares
Stone Pine Colorado, LLC 317,500 Series B Shares
Each Series A and Series B Preferred Share is convertible into one
Common Share of the Company at the option of the holder of such
Preferred Share.
(vi) The Company issued to ERB Acquisition Group, LLC a
total of 110,000 of the Company's Common Shares in consideration of a
loan made by ERB Acquisition Group, LLC to the Company in April 1997.
The shares were issued 50,000 on June 7, 1997 and 10,000 on the first
of each month from July 1997 through December 1997.
(vii) On August 21, 1997, the Company issued to Stone Pine
Financial Group, LLC 60,000 Company Common Shares in consideration of
a loan made by Stone Pine Financial Group, LLC to the Company in
August 1997.
(viii) On July 31, 1997 Stone Pine Colorado, LLC transferred
75,000 Company Common Shares to a nonvoting owner who subsequently
transferred the shares to a third party.
(ix) On June 25, 1997, the Company issued to Stone Pine
Financial Group, LLC 16,666 Company Common Shares in consideration of
a loan made by Stone Pine Financial Group, LLC to the Company in June
1997.
4
<PAGE> 12
(x) On March 20, 1997 Stone Pine Colorado, LLC
transferred 100,000 Common Shares to an unrelated third party in
exchange for the release of obligations asserted by such party.
(d), (e) Not applicable.
Item 6 Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Company.
Item 6 is hereby amended and supplemented to add the following
information:
See Item 5.
5
<PAGE> 13
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.
Dated: January 30, 1998 STONE PINE COLORADO, LLC
By: /s/ Paul Bagley
-------------------------------------
Name: Paul Bagley
Title: Manager
<PAGE> 14
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.
Dated: January 30, 1998 STONE PINE CAPITAL, LLC
By: /s/ Paul Bagley
-------------------------------------
Name: Paul Bagley
Title: Manager
<PAGE> 15
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.
Dated: January 30, 1998 /s/ Paul Bagley
-------------------------------------
Paul Bagley
<PAGE> 16
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.
Dated: January 30, 1998 STONE PINE ATLANTIC EQUITIES, LLC
By: /s/ Paul Bagley
-------------------------------------
Name: Paul Bagley
Title: Manager
<PAGE> 17
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.
Dated: January 30, 1998 /s/ W. Duke DeGrassi
-------------------------------------
W. Duke DeGrassi
<PAGE> 18
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.
Dated: January 30, 1998 /s/ Thompson H. Rogers
-------------------------------------
Thompson H. Rogers
