<PAGE> 1
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 3
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 11, 1999
(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).
<PAGE> 2
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
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
8,110,503
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 6,549,367
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 8,110,503
- -------------------------------------------------------------------------------
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)
16.00%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON OO
- -------------------------------------------------------------------------------
<PAGE> 3
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
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 33,333
SHARES -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,110,503
EACH -------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 33,333
WITH -------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,549,367
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 8,143,836
- -------------------------------------------------------------------------------
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)
16.06%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON OO
- -------------------------------------------------------------------------------
<PAGE> 4
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) [ ]
- -------------------------------------------------------------------------------
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 5,633,408
-------------------------------------------------
BENEFICAILLY 8 SHARED VOTING POWER
OWNED BY 9,074,502
-------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 5,633,408
------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 7,513,366
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 14,712,910
- -------------------------------------------------------------------------------
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)
27.14%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- -------------------------------------------------------------------------------
<PAGE> 5
SCHEDULE 13D
================================
CUSIP No. 208892208
================================
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stone Pine Atlantic, 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 8,110,503
-------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 6,549,367
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 8,110,503
- -------------------------------------------------------------------------------
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)
16.00%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON 00
- -------------------------------------------------------------------------------
<PAGE> 6
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 8,110,503
-------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 6,549,367
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 8,110,503
- -------------------------------------------------------------------------------
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)
16.00%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- -------------------------------------------------------------------------------
<PAGE> 7
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
U.S.
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 80,000
SHARES -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 9,074,502
EACH -------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 80,000
WITH -------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,513,366
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 9,154,502
- -------------------------------------------------------------------------------
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)
17.78%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- -------------------------------------------------------------------------------
<PAGE> 8
This Amendment No. 3 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 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 as of January 18, 1999, based on
50,388,650 outstanding Common Shares as of such date, is as follows:
(i) Stone Pine Colorado, LLC is the beneficial owner of
8,110,503 Common Shares (16.00%) consisting of (1)
6,231,867 Common Shares directly owned by SP Colorado
(the "SP Colorado Common Shares"), (2) 1,561,136 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 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 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 may be deemed to be the beneficial
owner of the (1) 6,231,867 SP Colorado Common Shares, (2)
1,561,136 Proxy Shares and (3) 317,500 SP Colorado
Preferred Shares which together with the 33,333 SP
Capital Common Shares amount to 8,143,836 Common Shares
of the Company (16.06%).
<PAGE> 9
(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 may be deemed to be the beneficial
owner of the (1) 6,231,867 SP Colorado Common Shares, (2)
1,561,136 Proxy Shares and (3) 317,500 SP Colorado
Preferred Shares, which together amount to 8,110,503
Common Shares of the Company (16.00%).
(iv) Thompson H. Rogers directly owns 30,000 Common Shares and
options to purchase 50,000 Common Shares (collectively,
the "Rogers Common Shares") with respect to 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"); (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"); and (4) a member
of SP Capital. Mr. Rogers shares the right to vote and
dispose or direct the disposition of the shares owned by
SPC, ERB, SP Financial and SP Capital. Mr. Rogers also
shares the right to vote the Proxy Shares. Mr. Rogers may
be deemed to be the beneficial owner of the (1) 6,231,867
SP Colorado Common Shares, (ii) 1,561,136 Proxy Shares,
(iii) 317,500 SP Colorado Preferred Shares, (iv) 494,000
ERB Shares, (v) 436,666 SP Financial Shares and (vi)
33,333 SP Capital Shares, which together with the 80,000
Rogers Common Shares amount to 9,154,502 Common Shares of
the Company (17.78%).
(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 may be deemed to be the
beneficial owner of the (i) 6,231,867 SP Colorado Common
Shares, (ii) 1,561,136 Proxy Shares and (iii) 317,500 SP
Colorado Preferred Shares, which together amount to
8,110,503 Common Shares of the Company (16.00%).
(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
<PAGE> 10
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) SPIB Management, LLC ("SPIB
Management") which owns 128,788 Common Shares and a
$75,000 note convertible into 625,000 Common Shares (the
"SPIB Management Shares"); and (4) Stone Pine Atlantic,
LLC, a company wholly owned by SPIB Management ("SPA"),
which owns 214,286 Common Shares and 131,500 Series B
Preferred Shares which are convertible into 131,500
Common Shares of the Company and a $250,000 note
convertible into 250,000 Common Shares (together, the
"SPA Shares"). Mr. Bagley also has voting and dispositive
control over Security Income Trust L.P., which owns
1,000,000 Common Shares (the "SIT Shares"). Mr. Bagley
shares the right to vote and dispose or direct the
disposition of the shares owned by SPC, ERB, SP Financial
and SP Capital, and Mr. Bagley has sole voting and
dispositive power of the shares owned by SPIB Management,
SPA and SIT. Mr. Bagley may be deemed to be the
beneficial owner of the (i) 6,231,867 SP Colorado Common
Shares, (ii) 1,561,136 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) 595,786 SPA Shares, (viii) 753,788 SPIB
Management Shares, and (x) 1,000,000 SIT 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 14,712,910 Common Shares of the Company
(27.14%).
(c)(i) In January 12, 1999, the Company issued to Security
Income Trust, L.P. ("SIT") 1,000,000 Company Common
Shares in consideration of a loan made by SIT on January
12, 1999 to the Company.
(ii) On December 7, 1998, SPIB Management acquired a $75,000
Convertible Note of the Company that is convertible into
625,000 Company Common Shares. On December 24, 1998, the
Company issued to SPIB Management 95,455 Company Common
Shares in consideration of the loan made by SPIB
Management.
(iii) On October 30, 1998, SP Colorado distributed 250,000
Company Common Shares to a non-voting owner, who
subsequently transferred them to an unaffiliated third
party.
<PAGE> 11
(iv) On March 3, 1998, SP Atlantic acquired a $250,000
Convertible Note of the Company that is convertible, at
the option of the holder, into 250,000 Company Common
Shares. On March 25, 1998, the Company issued to SP
Atlantic 214,286 Company Common Shares in consideration
of a loan made by SP Atlantic.
(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.
<PAGE> 12
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 22, 1999 STONE PINE COLORADO, LLC
By: /s/ Paul Bagley
-------------------------------------
Name: Paul Bagley
Title: Manager, Chairman of the
Board and Chief Executive
Officer
<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 22, 1999 STONE PINE CAPITAL, 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 22, 1999 /s/ Paul Bagley
-----------------------------------------
Paul Bagley
<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 22, 1999 STONE PINE ATLANTIC EQUITIES, LLC
By: /s/ Paul Bagley
-------------------------------------
Name: Paul Bagley
Title: Manager
<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 22, 1999 /s/ W. Duke DeGrassi
-----------------------------------------
W. Duke DeGrassi
<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 22, 1999 /s/ Thompson H. Rogers
-----------------------------------------
Thompson H. Rogers
