<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)/1/
California Coastal Communities, Inc.
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(Name of Issuer)
Common Stock, $0.05 par value per share
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(Title of Class of Securities)
500434303
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(CUSIP Number)
July 1, 1999
--------------------------------------------------------------------------------
(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)
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X Rule 13d-1(c)
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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 the disclosures provided in a prior cover page.
The information required in 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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CUSIP No. 500434303 Page 2 of 11 Pages
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lone Star Securities Fund, L.L.C.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [x]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
785,100
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
785,100
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
785,100
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.8%
11
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* OO
12
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LSOF Investments, LLC
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [x]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
785,100
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
785,100
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
785,100
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.8%
11
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* OO
12
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
------------------------
CUSIP No. 500434303 Page 4 of 11 Pages
------------------------
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lone Star Securities Limited
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda
------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
785,100
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
785,100
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
785,100
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.8%
11
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* OO
12
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
------------------------
CUSIP No. 500434303 Page 5 of 11 Pages
------------------------
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lone Star Opportunity Fund, L.P.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
785,100
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
785,100
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
785,100
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.8%
11
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* PN
12
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 500434303 Page 6 of 11 Pages
------------------------
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hudson Advisors, L.L.C.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Texas
------------------------------------------------------------------------------
SOLE VOTING POWER
5 -0-
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 785,100
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 -0-
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 785,100
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 785,100
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.8%
11
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* OO
12
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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SCHEDULE 13G Page 7 of 11 Pages
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LSS Management, Inc.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
5 -0-
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 -0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 -0-
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 -0-
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 -0-
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0%
11
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* IA; CO
12
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 500434303 Page 8 of 11 Pages
---------------------------------
This statement, which is being filed by Lone Star Securities Fund, L.L.C.
("LS Securities"), LSOF Investments, LLC ("LSOF"), Lone Star Securities Limited
("LSSL"), Lone Star Opportunity Fund, L.P. ("Lone Star"), Hudson Advisors,
L.L.C. ("Hudson") and LSS Management, Inc. ("LSS Management"), constitutes
Amendment No. 1 to the Schedule 13G originally filed with the Securities and
Exchange Commission on October 21, 1998 (the "Schedule 13G"). The Schedule 13G
relates to the Common Stock, par value $0.05 per share (the "Common Stock"), of
California Coastal Communities, Inc., a Delaware corporation (the "Company").
Item 1(b). Address of Issuer's Principal Executive Offices:
6 Executive Circle
Suite 250
Irvine, California 92614
Items 2(a) Name of Person Filing; Address of Principal Business Office or, if
and 2(b). None, Residence:
Items 2(a) and 2(b) of the Schedule 13G are hereby amended to add
the following:
LSOF Investments, LLC
600 North Pearl Street
Suite 1550
Dallas, Texas 75201
Lone Star Securities Limited
Gibbons Building
Suite 102
10 Queen Street
Hamilton HM 11, Bermuda
Hudson Advisors, L.L.C.
600 North Pearl Street
Suite 1500
Dallas, Texas 75201
Item 2(c). Citizenship:
Item 2(c) of the Schedule 13G is hereby amended to add the
following:
LSOF Investments, LLC is a limited liability company organized
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CUSIP No. 500434303 Page 9 of 11 Pages
---------------------------------
under the laws of the State of Delaware.
Lone Star Securities Limited is an exempted limited liability
company organized under the laws of Bermuda.
Hudson Advisors, L.L.C. is a limited liability company organized
under the laws of the State of Texas.
Item 4(a)-(c). Ownership.
Items 4(a) through 4(c) of the Schedule 13G are hereby amended
to add the following:
Hudson is the asset manager of LS Securities pursuant to an
Asset Management Agreement. LSS Management, which was the
investment manager of LS Securities at the time of filing of the
Schedule 13G, has ceased to be the investment manager of LS
Securities and accordingly disclaims beneficial ownership of the
Common Stock.
As of the date hereof, the Reporting Persons beneficially own
785,100 shares of the Common Stock, representing 7.8% of the
outstanding shares of Common Stock, based on 10,058,589 shares
of Common Stock outstanding as of March 1, 2000.
<PAGE>
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Page 10 of 11 Pages
---------------------------------
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: May 24, 2000
LONE STAR SECURITIES FUND, L.L.C.
By: LSOF Investments, LLC
Managing Member
By: Lone Star Securities Limited
Sole Member
By: Lone Star Opportunity Fund, L.P.
Sole Stockholder
By: Lone Star Partners, L.P.
General Partner
By: Lone Star Management Co., Ltd.
General Partner
By: /s/ J.D. Dell
------------------------------------
J.D. Dell, Vice President
LSOF INVESTMENTS, LLC
By: Lone Star Securities Limited
Sole Member
By: Lone Star Opportunity Fund, L.P.
Sole Stockholder
By: Lone Star Partners, L.P.
General Partner
By: Lone Star Management Co., Ltd.
General Partner
By: /s/ J.D. Dell
------------------------------------
J.D. Dell, Vice President
<PAGE>
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Page 11 of 11 Pages
---------------------------------
LONE STAR SECURITIES LIMITED
By: Lone Star Opportunity Fund, L.P.
Sole Stockholder
By: Lone Star Partners, L.P.
General Partner
By: Lone Star Management Co., Ltd.
General Partner
By: /s/ J.D. Dell
------------------------------------
J.D. Dell, Vice President
LONE STAR OPPORTUNITY FUND, L.P.
By: Lone Star Partners, L.P.
General Partner
By: Lone Star Management Co. Ltd.
General Partner
By: /s/ J.D. Dell
------------------------------------
J.D. Dell, Vice President
HUDSON ADVISORS, L.L.C.
By: /s/ Robert J. Corcoran
-----------------------------------------
Robert J. Corcoran, President
LSS MANAGEMENT, INC.
By: /s/ J.D. Dell
-----------------------------------------
J.D. Dell, Vice President
