SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
FiNet.com, Inc.
(Formerly Finet Holdings Corporation)
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
(Title of Class of Securities)
317922201
(CUSIP Number)
Roger S. Mertz, Esq.
Severson & Werson
One Embarcadero Center, 26th Floor
San Francisco, CA 94111
(415) 398-3344
(Name, Address and Telephone Number
of Person Authorized to Receive Notices
and Communications)
June 30, 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 { }.
Check the following box if a fee is being paid with the statement { }.
<PAGE>
SCHEDULE 13D
CUSIP No. 317922201
1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jose Maria Salema Garcao and Maria Luisa Garcao
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
a { }
b {X}
3. SEC USE ONLY
4. SOURCE OF FUNDS*
PF for each reporting person
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
{ }
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Each reporting person has Portuguese citizenship.
NUMBER OF 7. SOLE VOTING POWER
SHARES Jose Maria Salema Garcao has sole voting
power over the 9,330,000 shares
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY None
EACH 9. SOLE DISPOSITIVE POWER
REPORTING None
PERSON WITH 10. SHARED DISPOSITIVE POWER
Jose Maria Salema Garcao and Maria
Luisa Garcao share the power to
dispose of the 9,330,000 shares
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,330,000 (of which 6,150,000 represent Common Stock
Purchase Warrants and 40,000 represent options to
purchase Common Stock)
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
{ }
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.67%
14. TYPE OF REPORTING PERSON*
IN (both reporting persons are individuals)
Schedule 13D Amendment No.5 dated July 7, 1999, filed by Jose Maria
Salema Garcao and Maria Luisa Garcao regarding the Common Stock of
FiNet.com, Inc. (formerly Finet Holdings Corporation).
ITEM 1 -- Security and Issuer:
FiNet.com, Inc. (formerly Finet Holdings Corporation)
Executive Office Address:
3021 Citrus Circle, Suite 150
Walnut Creek, California 94598
ITEM 2 -- Identity and background
a. Name: Jose Maria Salema Garcao and Maria Luisa Garcao
b. Residence or Business Address:
Quinta Da Marinha
Lote CT-14
2750 Cascais, Portugal
c. Present principal occupation and name of employer:
Management of joint investment portfolio
d. Criminal Convictions: None
e. Civil Judgments, etc.: None
f. Citizenship: Portugal for both
ITEM 3.-- Source and Amount of Funds or Other Consideration:
Personal Funds
ITEM 4 -- Purpose of Transaction
Each individual reporting person on this Schedule 13D has acquired
beneficial ownership of the securities for investment purposes. Depending on
market conditions and other factors, the reporting persons may make further
purchases of the Company's securities or may sell or otherwise dispose of all or
portions of such securities, if such sales and purchases would be desirable
investments.
On October 20, 1997 the Board of Directors of the Company elected Jose
Maria Salema Garcao Chairman of the Board pending approval by the shareholders
at the next annual meeting. Effective October 16, 1998 Mr. Garcao resigned as
Chairman of the Board and as a director of the Company due to the press of other
business. As of the date hereof, the reporting persons have no present plans or
proposals with respect to any material change in the Company's business or
corporate structure or, generally, any other action referred to in instructions
(a) through (j) of Item 4 of Schedule 13D.
ITEM 5 -- Interest in Securities of Issuer
a. Number of Shares: 9,330,000 (of which 6,150,000 represent warrants to
purchase common stock and 40,000 represent options to
purchase common stock.)
Percentage Ownership of Class: 9.67%
b. Shares of Sole Power to Vote: Jose Maria Salema Garcao has sole power to
vote the 9,330,000 shares
Shares of Joint Power to Vote: 0
Shares of Sole Power to Dispose: 0
Shares of Joint Power to Dispose: Jose Maria Salema Garcao and Maria Luisa
Garcao share the power to dispose of the 9,330,000 shares
c. Transactions effected since the most recent filing on Schedule 13D:
Since the filing of Amendment No. 4 to the Reporting Persons' Schedule 13D,
Mr. Garcao has effected the following transactions::
Type of Type of Transaction Amount Price (if
Security Transaction Date Transferred applicable)
- -------- ----------- ----------- ----------- -----------
1. Common Stock Purchase 8/28/98 19,100 $0.99 per share
2. Common Stock Transfer 4/13/99-6/30/9 2,253,000 N/A
3. Warrants to
Purchase
Common Stock Sale 6/15/99 700,000 $.257 per warrant
Item 1 above represents purchases via open market over-the-counter
transactions effected through brokers at the market rate at the time of the
transaction.
Item 2 above represents transfer of 2,253,000 common shares without
consideration previously held by Reporting Persons as custodian for beneficial
owners, and with respect to which Reporting Persons disclaimed beneficial
ownership.
Item 3 above represents transfer of 700,000 warrants to purchase common
stock at $1.25 per share in a private transaction.
d. Power to Direct: None
e. Not applicable
ITEM 6 -- Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
The persons reporting on this Schedule 13D are related to each other by
marriage. Besides the shared power to dispose of the Company's securities owned
by them and otherwise as set forth in this statement, reporting persons
previously purchased and held 2,253,000 shares of common stock in the aggregate
as custodian for other persons, of which 1,353,000 common shares were
transferred to some of those persons on or about between April 13 and April 30,
1999, and 900,000 were transferred to the remainder of those persons between
June 15 and June 30, 1999.
<PAGE>
ITEM 7 -- Material to Be Filed as Exhibits.
None.
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.
July 5, 1999 /s/ Jose Maria Salema Garcao
----------------------------
July 5, 1998 /s/ Maria Luisa Garcao
----------------------------
