SPATIAL TECHNOLOGY INC
SC 13D, 1997-07-16
PREPACKAGED SOFTWARE
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13D

                   Under the Securities Exchange Act of 1934
                               (Amendment No. )*


                            Spatial Technology, Inc.
            ---------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
            ---------------------------------------------------------
                         (Title of Class of Securities)


                                   847246105
            ---------------------------------------------------------
                                 (CUSIP NUMBER)


                  Calvin Hori, Hori Capital Management, Inc.,
                     One Washington Mall, Boston, MA 02108
                                 (617) 367-3800
            ---------------------------------------------------------
          (Name, Address and Telephone Number of Person Authorized to
                      Receive Notices and Communications)


                                February 24, 1997
            ---------------------------------------------------------
            (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 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 and 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>


                              SCHEDULE 13D
|-----------------------|                         |--------------------------|
|CUSIP No.  847246105   |                         |    Page  2 of 10 Pages   |
|-----------------------|                         |--------------------------|

|----------------------------------------------------------------------------|
|    1    |  NAME OF REPORTING PERSON                                        |
|         |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON               |
|         |                                                                  |
|         |  Platinum Partners, L.P.                                         |
|---------|------------------------------------------------------------------|
|    2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a) [ ]|
|         |                                                           (b) [ ]|
|---------|------------------------------------------------------------------|
|    3    |  SEC USE ONLY                                                    |
|         |                                                                  |
|---------|------------------------------------------------------------------|
|    4    |  SOURCE OF FUNDS*                                                |
|         |                                                                  |
|         |  WC                                                              |
|---------|------------------------------------------------------------------|
|    5    |  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED        |
|         |  PURSUANT TO ITEMS 2(d) or 2(e)                              [ ] |
|---------|------------------------------------------------------------------|
|    6    |  CITIZENSHIP OR PLACE OF ORGANIZATION                            |
|         |                                                                  |
|         |  Massachusetts                                                   |
|----------------|-----|-----------------------------------------------------|
|                |  7  |   SOLE VOTING POWER                                 |
|                |     |   387,200                                           |
|   NUMBER OF    |-----|-----------------------------------------------------|
|     SHARES     |  8  |   SHARED VOTING POWER                               |
|  BENEFICIALLY  |     |   0                                                 |
| OWNED BY EACH  |-----|-----------------------------------------------------|
|   REPORTING    |  9  |   SOLE DISPOSITIVE POWER                            |
|     PERSON     |     |   387,200                                           |
|      WITH      |-----|-----------------------------------------------------|
|                |  10 |   SHARED DISPOSITIVE POWER                          |
|                |     |   0                                                 |
|----------------------------------------------------------------------------|
|   11    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    |
|         |                                                                  |
|         |  387,200                                                         |
|---------|------------------------------------------------------------------|
|   12    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)                   |
|         |  EXCLUDES CERTAIN SHARES*                                    [ ] |
|         |                                                                  |
|---------|------------------------------------------------------------------|
|   13    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)              |
|         |                                                                  |
|         |  5.2%                                                            |
|---------|------------------------------------------------------------------|
|   14    |  TYPE OF REPORTING PERSON*                                       |
|         |                                                                  |
|         |  PN                                                              |
|----------------------------------------------------------------------------|

                                       2


<PAGE>


                              SCHEDULE 13D
|-----------------------|                         |--------------------------|
|CUSIP No.  847246105   |                         |    Page  3 of 10 Pages   |
|-----------------------|                         |--------------------------|

|----------------------------------------------------------------------------|
|    1    |  NAME OF REPORTING PERSON                                        |
|         |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON               |
|         |                                                                  |
|         |  Hori Capital Management, Inc.                                   |
|---------|------------------------------------------------------------------|
|    2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a) [ ]|
|         |                                                           (b) [ ]|
|---------|------------------------------------------------------------------|
|    3    |  SEC USE ONLY                                                    |
|         |                                                                  |
|---------|------------------------------------------------------------------|
|    4    |  SOURCE OF FUNDS*                                                |
|         |                                                                  |
|         |  WC                                                              |
|---------|------------------------------------------------------------------|
|    5    |  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED        |
|         |  PURSUANT TO ITEMS 2(d) or 2(e)                              [ ] |
|---------|------------------------------------------------------------------|
|    6    |  CITIZENSHIP OR PLACE OF ORGANIZATION                            |
|         |                                                                  |
|         |  Massachusetts                                                   |
|----------------|-----|-----------------------------------------------------|
|                |  7  |   SOLE VOTING POWER                                 |
|                |     |   387,200                                           |
|   NUMBER OF    |-----|-----------------------------------------------------|
|     SHARES     |  8  |   SHARED VOTING POWER                               |
|  BENEFICIALLY  |     |   100,000                                           |
| OWNED BY EACH  |-----|-----------------------------------------------------|
|   REPORTING    |  9  |   SOLE DISPOSITIVE POWER                            |
|     PERSON     |     |   387,200                                           |
|      WITH      |-----|-----------------------------------------------------|
|                |  10 |   SHARED DISPOSITIVE POWER                          |
|                |     |   100,000                                           |
|----------------------------------------------------------------------------|
|   11    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    |
|         |                                                                  |
|         |  487,200                                                         |
|---------|------------------------------------------------------------------|
|   12    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)                   |
|         |  EXCLUDES CERTAIN SHARES*                                    [ ] |
|         |                                                                  |
|---------|------------------------------------------------------------------|
|   13    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)              |
|         |                                                                  |
|         |  6.6%                                                            |
|---------|------------------------------------------------------------------|
|   14    |  TYPE OF REPORTING PERSON*                                       |
|         |                                                                  |
|         |                                                                  |
|----------------------------------------------------------------------------|

                                       3


<PAGE>


                              SCHEDULE 13D
|-----------------------|                         |--------------------------|
|CUSIP No.  847246105   |                         |    Page  4 of 10 Pages   |
|-----------------------|                         |--------------------------|

|----------------------------------------------------------------------------|
|    1    |  NAME OF REPORTING PERSON                                        |
|         |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON               |
|         |                                                                  |
|         |  Calvin G. Hori, Sole Shareholder                                |
|---------|------------------------------------------------------------------|
|    2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a) [ ]|
|         |                                                           (b) [ ]|
|---------|------------------------------------------------------------------|
|    3    |  SEC USE ONLY                                                    |
|         |                                                                  |
|---------|------------------------------------------------------------------|
|    4    |  SOURCE OF FUNDS*                                                |
|         |                                                                  |
|         |  WC                                                              |
|---------|------------------------------------------------------------------|
|    5    |  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED        |
|         |  PURSUANT TO ITEMS 2(d) or 2(e)                              [ ] |
|---------|------------------------------------------------------------------|
|    6    |  CITIZENSHIP OR PLACE OF ORGANIZATION                            |
|         |                                                                  |
|         |  United States Citizen                                           |
|----------------|-----|-----------------------------------------------------|
|                |  7  |   SOLE VOTING POWER                                 |
|                |     |   387,200                                           |
|   NUMBER OF    |-----|-----------------------------------------------------|
|     SHARES     |  8  |   SHARED VOTING POWER                               |
|  BENEFICIALLY  |     |   100,000                                           |
| OWNED BY EACH  |-----|-----------------------------------------------------|
|   REPORTING    |  9  |   SOLE DISPOSITIVE POWER                            |
|     PERSON     |     |   387,200                                           |
|      WITH      |-----|-----------------------------------------------------|
|                |  10 |   SHARED DISPOSITIVE POWER                          |
|                |     |   100,000                                           |
|----------------------------------------------------------------------------|
|   11    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    |
|         |                                                                  |
|         |  487,200                                                         |
|---------|------------------------------------------------------------------|
|   12    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)                   |
|         |  EXCLUDES CERTAIN SHARES*                                    [ ] |
|         |                                                                  |
|---------|------------------------------------------------------------------|
|   13    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)              |
|         |                                                                  |
|         |  6.6%                                                            |
|---------|------------------------------------------------------------------|
|   14    |  TYPE OF REPORTING PERSON*                                       |
|         |                                                                  |
|         |  IN                                                              |
|----------------------------------------------------------------------------|


                                       4

<PAGE>


Item 1.  Security and Issuer

         This Report on schedule 13D relates to shares of common stock, no par
value (the "Common Stock"), of Spatial Technology, Inc. (the "Company"), whose
principal executive offices are located at 2425 55th Street; Boulder, CO 80301.

Item 2.  Identity and Background

         This Report is filed by Platinum Partners, L.P., a Massachusetts
limited partnership (the "Partnership"), having its principal place of business
and executive offices at c/o Hori Capital Management, Inc., One Washington Mall,
7th Floor, Boston, MA 02108; Hori Capital Management, Inc., a Massachusetts
corporation having its principal place of business and executive offices at One
Washington Mall, 7th Floor, Boston, MA 02108 ("Hori Capital Management"); and
Mr. Calvin G. Hori, the sole shareholder, director and President of the Hori
Capital Management ("Mr. Hori"), having his business address at c/o Hori Capital
Management, Inc., One Washington Mall, 7th Floor, Boston, MA 02108
(collectively, the "Reporting Persons"). The principal business of each
Reporting Person is to make, manage, supervise, and dispose of investments in a
variety of businesses. Hori Capital Management is the sole General Partner of
the Partnership and one of several investment advisors to Micro Cap Partners,
Ltd. ("Micro Cap").

         During the last five years, the Reporting Persons have not been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), and have not been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and are not, as a result of any
such proceeding, 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.

         Mr. Hori is a United States citizen.

Item 3.  Source and Amount of Funds or Other Consideration

         The source of funds for the transactions described in Item 5(c) were
assets of the Partnership.

Item 4.  Purpose of Transaction

         The Partnership and Micro Cap acquired the Common Stock described in
Item 5(c) for investment purposes. None of the Reporting Persons have any plans
or proposals which relate to or would result in:

          a.   The acquisition by any person of additional securities of the
               issuer, or the disposition of securities of the issuer;

          b.   An extraordinary corporate transaction, such as a merger,
               reorganization or liquidation, involving the issuer or any of its
               subsidiaries;


                                       5
<PAGE>


          c.   A sale or transfer of a material amount of assets of the issuer
               or any of its subsidiaries;

          d.   Any change in the present board of directors or management of the
               issuer, including any plans or proposals to change the number or
               term of directors or to fill any existing vacancies on the board;

          e.   Any material change in the present capitalization or dividend
               policy of the issuer;

          f.   Any other material change in the issuer's business or corporate
               structure including but not limited to, if the issuer is a
               registered closed-end investment company, any plans or proposals
               to make any change in its investment policy for which a vote is
               required by section 13 of the Investment Company Act of 1940;

          g.   Changes in the issuer's charter, bylaws or instruments
               corresponding thereto or other actions which may impede the
               acquisition of control of the issuer by any person;

          h.   Causing a class of securities of the issuer to be delisted from a
               national securities exchange or to cease to be authorized to be
               quoted in an inter-dealer quotation system of a registered
               national securities association;

          i.   A class of equity securities of the issuer becoming eligible for
               termination of registration pursuant to Section 1(g)(4) of the
               Securities Exchange Act of 1934; or

          j.   Any action similar to any of those enumerated above.

Item 5.   Interest in Securities of the Issuer

          a.   As of February 24, 1997, the Partnership may be deemed to
               beneficially own 387,2000 shares of Common Stock of the Company.
               Based upon there being 7,429,799 shares of Common Stock
               outstanding, the shares of Common Stock which the Partnership may
               be deemed to beneficially own represents approximately 5.2% of
               the outstanding shares of Common Stock of the Company. As of
               February 24, 1997, Hori Capital Management may be deemed to
               beneficially own 387,200 shares of Common Stock of the Company by
               virtue of it being the General Partner of the Partnership. As of
               January 30, 1997, Hori Capital Management may be deemed to own
               100,000 shares of Common Stock of the Company by virtue of it
               being one of several investment advisors to Micro Cap. Based upon
               there being 7,429,799 shares of Common Stock outstanding, the
               shares of Common Stock which Hori Capital Management may be
               deemed to beneficially own represents approximately 6.6% of the
               outstanding shares of Common 


                                       6
<PAGE>


               Stock of the Company. As of February 24, 1997, Mr. Hori may be
               deemed to beneficially own 487,200 shares of Common Stock of the
               Company by virtue of his being the sole shareholder of Hori
               Capital Management. Based upon there being 7,429,799 shares of
               Common Stock outstanding, the shares of Common Stock which Mr.
               Hori may be deemed to beneficially own represents approximately
               6.6% of the outstanding shares of Common Stock.

          b.   In accordance with the Agreement of Limited Partnership, the
               General partner has the sole power to vote and the sole power to
               dispose of the shares of Common Stock of the Company held by the
               Partnership.

          c.   The Partnership has made the following purchases of shares of
               Common Stock:

          -------------------------------------------------------
                                                        Aggregate
          Transaction                   Price Per       Purchase 
            Date        # of Shares       Share          Price   
          -------------------------------------------------------
          12/05/96       100,000        4.05025         405,025
          -------------------------------------------------------
          12/06/96        50,000        4.05050         202,525
          -------------------------------------------------------
          12/09/96        16,700        4.05150          67,660
          -------------------------------------------------------
          12/10/96        30,000        4.03213         120,964
          -------------------------------------------------------
          12/16/96         7,200        4.42847          31,885
          -------------------------------------------------------
          12/17/96        50,000        4.12600         206,300
          -------------------------------------------------------
          12/20/96        28,700        4.42587         127,023
          -------------------------------------------------------
          12/30/96         1,500        4.81667           7,225
          -------------------------------------------------------
           1/02/97           400        5.05000           2,020
          -------------------------------------------------------
           1/06/97        15,000        5.05167          75,775
          -------------------------------------------------------
           1/07/97           500        5.10000           2,550
          -------------------------------------------------------
           1/27/97        28,200        4.08019         115,061
          -------------------------------------------------------
           1/28/97         4,000        3.86875          15,475
          -------------------------------------------------------
           1/30/97        25,000        3.92600          98,150
          -------------------------------------------------------
           2/18/97         5,000        4.55500          22,775
          -------------------------------------------------------
           2/19/97           500        4.60000           2,300
          -------------------------------------------------------
           2/20/97         2,500        4.53500          11,338
          -------------------------------------------------------
           2/21/97         7,000        4.49107          31,438
          -------------------------------------------------------
           2/24/97        15,000        4.55167          68,275
          -------------------------------------------------------


                                       7
<PAGE>


          Micro Cap has made the following purchases of shares of Common Stock:

          -------------------------------------------------------
                                                        Aggregate
          Transaction                   Price Per       Purchase 
            Date        # of Shares       Share          Price   
          -------------------------------------------------------
          1/07/97        13,000         5.06192         65,805
          -------------------------------------------------------
          1/08/97         6,900         5.18462         35,774
          -------------------------------------------------------
          1/09/97         3,600         5.40028         19,441
          -------------------------------------------------------
          1/10/97         3,000         5.81833         17,455
          -------------------------------------------------------
          1/14/97         1,100         5.70773          6,279
          -------------------------------------------------------
          1/15/97         2,000         5.57250         11,145
          -------------------------------------------------------
          1/16/97        25,000         4.86350        121,588
          -------------------------------------------------------
          1/22/97         6,000         4.62667         27,760
          -------------------------------------------------------
          1/27/97        14,400         4.08104         58,767
          -------------------------------------------------------
          1/30/97        25,000         3.92600         98,150
          -------------------------------------------------------


               All transactions were made in the open market on NASDAQ.

          d.   The Partnership and Micro Cap are each limited partnerships. Each
               partner of the Partnership is entitled to receive certain
               distributions from the Partnership's assets as specified in the
               Partnership's governing documents. Similarly, each partner of
               Micro Cap is entitled to receive certain distributions from Micro
               Cap's assets as specified in Micro Cap's governing documents.
               These distributions may include funds received by the Partnership
               or Micro Cap from dividends declared with respect to the shares
               of Common Stock held by the Partnership or Micro Cap or from the
               sale of such shares of Common Stock.

          e.   Not applicable.

         The filing of this statement shall not be construed as an admission
that any of the Reporting Persons are, for the purposes of Sections 13(d) or
13(g) of the Securities Exchange Act of 1934, the beneficial owners of any
securities covered by this statement.


                                       8
<PAGE>


Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect
         to Securities of the Issuer

         There are no contracts, arrangements, understandings or relationships
(legal or otherwise) between or among any of the Reporting Persons and any other
person with respect to any securities of the Company other than (a) the
governing documents of the Partnership and Micro Cap and (b) the investment
advisory agreement between Hori capital Management and Micro Cap.

Item 7.  Material to be Filed as Exhibits

         Exhibit 1 - Agreement regarding filing of joint Schedule 13D.


                                       9
<PAGE>


Signature

         After reasonable inquiry and to the best of the knowledge and belief of
the undersigned, each of the undersigned hereby certifies that the information
set forth in this statement is true, complete and correct.

         EXECUTED as of the 15th day of July, 1997.


                                    PLATINUM PARTNERS, L.P.                 
                                    
                                    
                                    By:     /s/  Calvin G. Hori          
                                         ---------------------------  
                                         Calvin G. Hori, President of 
                                         Hori Capital Management, Inc., 
                                         General Partner
                                    
                                    
                                    
                                    HORI CAPITAL MANAGEMENT, INC.
                                    
                                    
                                    By:     /s/  Calvin G. Hori          
                                         ---------------------------    
                                         Calvin G. Hori, President
                                                 
                                    
                                    
                                    
                                            /s/  Calvin G. Hori              
                                         ---------------------------   
                                         Calvin G. Hori


                                       10




                                                                       Exhibit 1
                                                                       ---------


                                   AGREEMENT

         Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree that only one statement containing the
information required by Schedule 13D need be filed with respect to the ownership
by each of the undersigned of the shares of Common Stock of Spatial Technology,
Inc.

         EXECUTED as of the 15th day of July, 1997.

                                   PLATINUM PARTNERS, L.P.                 
                                    
                                    
                                    By:     /s/  Calvin G. Hori          
                                         ---------------------------  
                                         Calvin G. Hori, President of 
                                         Hori Capital Management, Inc., 
                                         General Partner
                                    
                                    
                                    
                                    HORI CAPITAL MANAGEMENT, INC.
                                    
                                    
                                    By:     /s/  Calvin G. Hori          
                                         ---------------------------    
                                         Calvin G. Hori, President
                                                 
                                    
                                    
                                    
                                            /s/  Calvin G. Hori              
                                         ---------------------------   
                                         Calvin G. Hori




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