------------------------------
OMB APPROVAL
------------
OMB Number: 3235-0145
Expires: October 31, 1997
Estimated average burden
hours per response ..... 14.90
------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Effective Management Systems Inc.
---------------------------------------------------------
(Name of Issuer)
Common Stock
---------------------------------------------------------
(Title of Class of Securities)
282017102
---------------------------------------------------------
(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)
March 6, 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. 282017102 | | Page 2 of 9 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 |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 191,500 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | 60,000 |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 191,500 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | 60,000 |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 251,500 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 6.3% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON* |
| | |
| | CO |
|----------------------------------------------------------------------------|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
2
<PAGE>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP No. 282017102 | | Page 3 of 9 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 |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 191,500 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | 60,000 |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 191,500 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | 60,000 |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 251,500 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 6.3% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
|----------------------------------------------------------------------------|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
3
<PAGE>
Item 1. Security and Issuer
This Report on schedule 13D relates to shares of common stock, no par
value (the "Common Stock"), of Effective Management Systems Inc. (the
"Company"), whose principal executive offices are located at 12000 West Park
Place; Milwaukee, WI 53224.
Item 2. Identity and Background
This Report is filed by 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
Platinum Partners, L.P., a Massachusetts limited partnership (the
"Partnership"), and is 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 and of Micro Cap.
Item 4. Purpose of Transaction
Hori Capital Management 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;
4
<PAGE>
b. An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
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 March 7, 1997, Hori Capital Management may be deemed to
beneficially own 191,500 shares of Common Stock of the Company by
virtue of it being the General Partner of the Partnership. As of
February 7, 1997, Hori Capital Management may be deemed to
beneficially own 60,000 shares of Common Stock of the Company by
virtue of it being one of several
5
<PAGE>
investment advisors to Micro Cap. Based upon there being
4,024,892 shares of Common Stock outstanding, the shares of
Common Stock which Hori Capital Management may be deemed to
beneficially own represents approximately 6.3% of the outstanding
shares of Common Stock of the Company. As of March 7, 1997, Mr.
Hori may be deemed to beneficially own 251,500 shares of Common
Stock of the Company by virtue of his being the sole shareholder
of Hori Capital Management. Based upon there being 4,024,892
shares of Common Stock outstanding the shares of Common Stock
which Mr. Hori may be deemed to beneficially own represents
approximately 6.3% of the outstanding shares of Common Stock of
the Company.
b. In accordance with the Agreement of Limited partnership, Hori
Capital Management 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
-------------------------------------------------------
8/21/96 10,000 6.25250 62,525
-------------------------------------------------------
8/22/96 10,000 6.12750 61,275
-------------------------------------------------------
8/23/96 17,500 6.44743 112,830
-------------------------------------------------------
9/20/96 4,000 6.13125 24,525
-------------------------------------------------------
9/30/96 4,500 6.25556 28,150
-------------------------------------------------------
10/02/96 20,000 8.12625 162,525
-------------------------------------------------------
10/03/96 10,000 8.00250 80,025
-------------------------------------------------------
10/07/96 15,000 8.25167 123,775
-------------------------------------------------------
10/14/96 2,500 7.88500 19,713
-------------------------------------------------------
10/15/96 3,000 6.00833 18,025
-------------------------------------------------------
10/25/96 2,500 7.38500 18,463
-------------------------------------------------------
10/28/96 2,500 7.26000 18,150
-------------------------------------------------------
6
<PAGE>
Aggregate
Transaction Price Per Purchase
Date # of Shares Share Price
-------------------------------------------------------
11/27/96 9,000 6.12778 55,150
-------------------------------------------------------
1/16/97 16,000 6.12656 98,025
-------------------------------------------------------
1/21/97 3,500 6.13214 21,463
-------------------------------------------------------
1/31/97 15,000 7.37667 110,650
-------------------------------------------------------
2/04/97 5,000 7.38000 36,900
-------------------------------------------------------
2/07/97 16,500 7.12652 117,588
-------------------------------------------------------
2/21/97 5,000 6.88000 34,400
-------------------------------------------------------
3/06/97 20,000 6.12625 122,525
-------------------------------------------------------
Micro Cap has made the following purchases of shares of Common Stock:
Aggregate
Transaction Price Per Purchase
Date # of Shares Share Price
-------------------------------------------------------
1/21/97 46,500 6.12554 284,838
-------------------------------------------------------
2/07/97 13,500 7.12685 96,213
-------------------------------------------------------
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.
7
<PAGE>
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.
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.
8
<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.
HORI CAPITAL MANAGEMENT, INC.
By: /s/ Calvin G. Hori
-----------------------------
Calvin G. Hori, President
/s/ Calvin G. Hori
-----------------------------
Calvin G. Hori
9
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 Effective Management
Systems Inc.
EXECUTED as of the 15th day of July, 1997.
HORI CAPITAL MANAGEMENT, INC.
By: /s/ Calvin G. Hori
-----------------------------
Calvin G. Hori, President
/s/ Calvin G. Hori
-----------------------------
Calvin G. Hori
