<PAGE> 1
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
MicroTel International, Inc.
(Name of Issuer)
Common Stock, $.0033 par value
(Title of Class of Securities)
59514K209
(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)
MARCH 26, 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 [].
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. 59514K209
=======================
<TABLE>
<S> <C> <C>
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Carmine T. Oliva
- --------------------------------------------------------------------------------
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 OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 1,345,796
SHARES ----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 2,406,358
EACH ----------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 1,345,796
WITH ----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,406,358
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,752,154
- --------------------------------------------------------------------------------
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)
40.3230%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
</TABLE>
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SCHEDULE 13D
=======================
CUSIP No. 59514K209
=======================
<TABLE>
<S> <C> <C>
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Capital Source Partners
- --------------------------------------------------------------------------------
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 OF ORGANIZATION
New Jersey
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 2,406,358
SHARES
BENEFICIALLY ----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -0-
REPORTING ----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 2,406,358
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,406,358
- --------------------------------------------------------------------------------
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)
25.8602%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
SCHEDULE 13D
=======================
CUSIP No. 59514K209
=======================
<TABLE>
<S> <C> <C>
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Samuel J. Oliva
- --------------------------------------------------------------------------------
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 OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 280,617
SHARES
BENEFICIALLY ----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 425,824
REPORTING ----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 280,617
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
425,824
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
706,441
- --------------------------------------------------------------------------------
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)
7.5919%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
Item 1 Security and Issuer.
This statement on Schedule 13D relates to the common stock, $.0033 par
value of MicroTel International, Inc. (the "Issuer"). The address of the
principal executive office of the Issuer is 4290 E. Brickell Street, Ontario,
California 91761.
Item 2 Identity and Background.
(a) This statement is being filed jointly by Carmine T. Oliva,
individually, Samuel J. Oliva, individually (collectively the "Olivas"), and
Capital Source Partners ("CSP"), a New Jersey partnership. CSP directly owns
2,406,358 shares of the Issuer's outstanding common stock (the "Shares").
Carmine T. Oliva directly owns 1,345,796 Shares, and, by virtue of being the
Managing Partner of CSP, may be deemed a member of a group that shares voting
and dispositive power over the Shares and may be deemed to beneficially own the
Shares held by CSP. Samuel J. Oliva directly owns 280,617 Shares of the
Issuer's outstanding common stock. Samuel J. Oliva also, by virtue of his
partnership interest in CSP, may be deemed to beneficially own 425,824 of the
Shares held by CSP. CSP and the Olivas are referred to herein as the Reporting
Persons.
(b) The residence address and/or business address of the Olivas
and each of the general partners of CSP are set forth in Schedule A hereto and
are incorporated herein by reference.
(c) The present principal occupation or employment and the name,
principal business and address of any corporation or other organization in
which such employment is conducted for each of the individuals and/or entities
set forth in Item 2(a) is set forth in Schedule A hereto and incorporated
herein by reference.
(d) and (e) None of the individuals and/or entities listed on
Schedule A has, during the last five years, been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or were a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which any such person was or is 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.
(f) The citizenship of each of the individuals and/or entities is
set forth in Schedule A hereto and incorporated herein by reference.
Item 3 Source and Amount of Funds or Other Consideration
On March 26, 1997, XIT Acquisition, Inc. ("Acquisition"), a wholly
owned subsidiary of the Issuer merged with and into XIT Corporation, a New
Jersey corporation (formerly named XCEL Corporation) ("XIT"), a privately held
company, with XIT as the
<PAGE> 6
surviving corporation (the "Merger"). In connection with the Merger, each
outstanding share of XIT common stock was cancelled and the holders of such XIT
shares received the number of shares of the Issuer's common stock such that the
shareholders, option holders and warrant holders of XIT own or have the right
to acquire, in the aggregate, 65% of the outstanding shares of the Issuer on a
fully diluted basis. In the Merger, the Issuer issued to such XIT shareholders
6,119,215 shares of the Issuer's common stock in the aggregate. The Merger
Agreement dated as of December 31, 1996 (the "Merger Agreement") was filed as
Exhibit 1 to Item 2 of the Report on Form 8-K filed by the Issuer on January
21, 1997 which is incorporated herein by reference.
Item 4 Purpose of Transaction.
(a), (b), (d) As described in Item 3, CSP acquired 2,406,358
Shares, Carmine T. Oliva acquired 1,345,796 Shares and Samuel J. Oliva acquired
280,617 Shares of the Issuer's common stock pursuant to the terms of the
Merger. Upon completion of the Merger, the Issuer's current directors, except
for Jack E. Talan, resigned and were replaced by new directors designated by
XIT. The change in the membership of the Board of Directors of the Issuer was
described in an Information Statement filed with the United States Securities
and Exchange Commission on March 12, 1997, pursuant to Section 14(f) of the
Securities Exchange Act of 1934 and Rule 14f-1 thereunder. None of the
Reporting Persons have any plans or proposals which relate to Items 4(c), or
any plans or proposals which relate to Items 4(e) through and including (j).
Item 5 Interest in Securities of the Issuer.
(a) With the consummation of the Merger, there are 9,305,242 Shares of
the Issuer's common stock outstanding. CSP directly owns 2,406,358 Shares of
the Issuer's common stock, or 25.8602%. Carmine T. Oliva directly owns
1,345,796 Shares of the Issuer's common stock, or 14.4627%. Carmine T. Oliva,
as Managing Partner, may be deemed a member of a group that shares voting and
dispositive power over the Shares and may be deemed to beneficially own the
Shares. Samuel J. Oliva directly owns 280,617 Shares of the Issuer's common
stock, or 3.0157%. Samuel J. Oliva, as a Partner in CSP, may be deemed a
member of a group that shares voting and dispositive power over 425,824 of the
Shares and may be deemed to beneficially own the Shares.
(b) 2,406,358 Shares are directly owned by CSP. Carmine T. Oliva, as
the Managing Partner of CSP, has the right to vote the Shares directly owned by
CSP and to dispose or direct the disposition of the Shares directly owned by
CSP.
(c) Other than the Shares acquired in the Merger, CSP and the Olivas
did not effect any transactions in the common stock of the Issuer during the
past sixty days.
(d), (e) Not applicable.
<PAGE> 7
Item 6 Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Not applicable.
Item 7 Material to be Filed as Exhibits.
Exhibit 1 -- The Merger Agreement has been previously filed and is
incorporated herein by reference. (See Item 3 above).
Exhibit 2 -- Joint Filing Agreement.
<PAGE> 8
Exhibit 2
Joint Filing Agreement
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the undersigned hereby agree to the joint filing with each
other of a Statement on Schedule 13 and any amendments thereto with respect to
the Common Stock, $.0033 par value of MicroTel International, Inc. and that
this Joint Filing Agreement be included as an exhibit to such joint filing. In
evidence thereof, the undersigned hereby execute this Agreement as of April
4, 1997.
/s/ Carmine T. Oliva
--------------------------------
Carmine T. Oliva
/s/ Samuel J. Oliva
--------------------------------
Samuel J. Oliva
CAPITAL SOURCE PARTNERS
By: /s/ Carmine T. Oliva
-----------------------------
Name: Carmine T. Oliva
Title: Managing Partner
<PAGE> 9
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: April 4, 1997 /s/ Carmine T. Oliva
-----------------------------
Carmine T. Oliva
<PAGE> 10
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: April 4, 1997 /s/ Samuel J. Oliva
-----------------------------
Samuel J. Oliva
<PAGE> 11
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: April 4, 1997 /s/ Carmine T. Oliva
-----------------------------
Carmine T. Oliva
Managing Partner
Capital Source Partners
<PAGE> 12
Schedule A to Schedule 13D
of MicroTel International, Inc.
General Partners of Capital Source Partners ("CSP")
The following is a list of the general partners of CSP, setting forth,
where indicated, the residence address, business address and present principal
occupation or employment (and the name, principal business and address of any
corporation or organization in which such employment is conducted of each such
person). To the best knowledge of CSP, except for Mr. Fuji, who is a Japanese
citizen, and Mr. Jeffries, who is a British citizen, each of the partners of
CSP is a citizen of the United States of America.
<TABLE>
<CAPTION>
Present Principal Occupation
Name and Resident Address or Employment and Business Address
- ------------------------- ----------------------------------
<S> <C>
Mary L. & Hugh Gillespie Retired Business Executive
191 North Island Avenue 191 North Island Avenue
Ramsey, NJ 07446-1533 Ramsey, NJ 07446-1533
Sandra Farndell Homemaker
4 Cara Court 4 Cara Court
Randolph, NJ 07869 Randolph, NJ 07869
Bill Y. Wong Retired Controller
1429 Indiana Avenue XIT Corporation
S. Pasadena, CA 91030 1429 Indiana Avenue
S. Pasadena, CA 91030
S. Fujii General Manager, XCEL Japan, Ltd.
c/o XCEL Japan, Ltd. Fujii Kasa: Gotanda Bldg.
Fujii Kasa: Gotanda Bldg. 25-18 Higshi-Gotanda 5
25-18 Higshi Gotanda 5 Chrome
Chrome Tokyo, Japan
Tokyo 141 Japan
Robert B. Runyon Self-Employed Human Resources Consultant
10 Eagle Claw Drive 10 Eagle Claw Drive
Hilton Head, SC 29926 Hilton Head, SC 29926
Andrew M. Wallerstein Partner
24 Arnold Street Baldwin Brothers (Financial
Providence, RI 02906 Management & Consulting Firm)
3 Barnabas Road
Marion, MA 02738
Albert F. Ford III, Trustee for Antiques Dealer
Albert F. Ford II Trust 7152 Point of Rocks Circle
7152 Point of Rocks Circle Sarasota, FL 33581
Sarasota, FL 33581
</TABLE>
<PAGE> 13
<TABLE>
<S> <C>
David A. Barrett Partner, Baldwin Brothers
Box 418 (Financial Management &
Marion, MA 02738 Consulting Firm)
3 Barnabas Road
Marion, MA 02738
David A. Barrett, Trustee Partner, Baldwin Brothers
for Albert F. Ford, III Trust (Financial Management &
P.O. Box 66 Consulting Firm)
Marion, MA 02738 3 Barnabas Road
Marion, MA 02738
David A. Barrett, Trustee for Partner, Baldwin Brothers
William A. Ford Trust (Financial Management &
P.O. Box 66 Consulting Firm)
Marion, MA 02738 3 Barnabas Road
Marion, MA 02738
David A. Barrett, Partner, Baldwin Brothers
Trustee for David A. (Financial Management &
Barrett, Jr. Trust Consulting Firm)
P.O. Box 66 3 Barnabas Road
Marion, MA 02738 Marion, MA 02738
David A. Barrett, Trustee Partner, Baldwin Brothers
for Elizabeth C. (Financial Management &
Barrett Trust Consulting Firm)
P.O. Box 66 3 Barnabas Road
Marion, MA 02738 Marion, MA 02738
David A. Barrett, Trustee Partner, Baldwin Brothers
for Jennifer P. (Financial Management &
Barrett Trust Consulting Firm)
P.O. Box 66 3 Barnabas Road
Marion, MA 02738 Marion, MA 02738
Samuel J. Oliva Administrative Manager for Insurance Company
80 Brandywyne Drive Florham Park, NJ 07932
Florham Park, NJ 07932
Ronald P. and Betty J. Oliva Warehouse Supervisor
36 Pinedale Court 36 Pinedale Court
Hamilton Square, NJ 08690 Hamilton Square, NJ 08690
Carmine T. Chairman of the Board, President
and Georgeann Oliva and Chief Executive Officer of
80 Brandwyne Drive Issuer
Florham Park, NJ 07932
</TABLE>
2
<PAGE> 14
<TABLE>
<S> <C>
Graham Jeffries General Manager
XCEL Corporation, Ltd. XCEL Corporation, Ltd.
Saxon Way Saxon Way
Melbourn Royston Melbourn Royston
Herts SG8 6DN England Herts SG8 6DN England
Gallant Thein Vice President, Treasurer,
2925 Dorchester Avenue Controller and Assistant
Los Angeles, CA 90032 Secretary of Issuer
Leslie Group, Inc. Investment Firm
1370 Avenue of the Americas Leslie Group, Inc.
New York, NY 10019 1370 Avenue of the Americas
Attn: Joseph Cohen, President New York, NY 10019
Attn: Joseph Cohen, President
Louis Bernat Patent Attorney
135 S. LaSalle St. Fitch, Even, Tabin & Flannery
Room 900 135 S. LaSalle Street
Chicago, IL 60603 Chicago, IL 60603
Richard Gesoff Private Investor
39 Cohawney Road 39 Cohawney Road
Scarsdale, NY 10583 Scarsdale, NY 10583
William J. and Beverly XIT Corporation
J. Miller Vice President and Sector General Manager
1684 N. Hale 4290 E. Brickell Street
Fullerton, CA 92631 Ontario, CA 91761
Philip M. Colicchio Attorney
1613 Travis Court Mason, Taylor & Colicchio
Lawrenceville, NJ 08648 104 Carnegie Center, Suite 204
Princeton, NJ 08540
William S. Papazian Senior Vice President and
104 East Seminole Drive General Counsel
Absecon, NJ 08201 Capital Gaming International, Inc.
Bayport One, Suite 250
8025 Black Horse Pike
W.Atlantic City, NJ 08232
Kevin M. Briody Attorney
555 Provinceline Road Gallagher, Briody & Butler
Hopewell, NJ 08525 212 Carnegie Center, Suite 402
Princeton, NJ 08540
Ralph S. Mason, III, Trustee Attorney
Ralph S. Mason, Unified Mason, Taylor & Colicchio
Credit Trust 104 Carnegie Center, Suite 204
Weybridge South Princeton, NJ 08540
Poor Farm Road
Pennington, NJ 08534
</TABLE>
3
<PAGE> 15
<TABLE>
<S> <C>
Hillel Weinberger Senior Executive Portfolio Manager
Loews Corporation Loews Corporation
667 Madison Avenue 667 Madison Avenue
New York, NY 10021-8087 New York, NY 10021-8087
Word-Tronics Corporation Word-Tronics Corporation
316 North Sixth Street (Direct Mail Company)
Prospect Park, NJ 07506 316 North Sixth Street
Prospect Park, NJ 07506
Dina Partners Private Investor
c/o David Solomon c/o David Solomon
3000 Sand Hill Road 3000 Sand Hill Road
Building 5 Building 5
Menlo, CA 94025 Menlo, CA 94025
John & Virginia Connolly Marketing Consultant
14 Carolyn Place 14 Carolyn Place
Washington Twp., NJ 07853 Washington Twp., NJ 07853
Ralph S. Mason, III Attorney
Weybridge South Mason, Taylor & Colicchio
Poor Farm Road 104 Carnegie Center, Suite 204
Pennington, NJ 08534 Princeton, NJ 08540
Morningstar Associates II Morningstar Associates II
731 Hospital Trust Bldg. (Investment Firms)
Providence, RI 02903 731 Hospital Trust Bldg.
Providence, RI 02903
Thomas P. Gallagher Attorney
8 Wedgewood Court Gallagher, Briody & Butler
Belle Mead, NJ 08505 212 Carnegie Center, Suite 402
Princeton, NJ 08540
Russell E. Froelich President
732 Sandpebble Drive Computron, Inc.
Schaumburg, IL 60193 (Electronics Manufacturing Company)
835 Bonnie Lane
Elk Grove Village, IL 60007
Gerald Unterman Portfolio Manager
152 Yukon Drive GEM Capital Management
Woodbury, NY 11797 70 E. 55th St.
New York, NY 10022
Richard Childs Retired - Former Business Executive
Spring Island Spring Island
Route 6 Route 6
Box 284-R Box 284-R
Okadie, SC 29910 Okadie, SC 29910
</TABLE>
4
<PAGE> 16
<TABLE>
<S> <C>
Andrew A. Ford, Trust Andrew A. Ford, Trust
David A. Barrett, Trustee David A. Barrett, Trustee
P.O. Box 66 P.O. Box 66
Marion, MA 02738 Marion, MA 02738
Lee Javitch Retired Private Investor
21 Stratford Road 21 Stratford Road
Harrison, NY 10528 Harrison, NY 10528
Norman B. Lipsett Retired Private Investor
30 Northswood Lane 30 Northswood Lane
Boynton Beach, FL 33436 Boynton Beach, FL 33436
Donald L. Horton Vice President and Director of Quality Control
8134 Glade Avenue XIT Corporation
Canoga Park, CA 91304 4290 E. Brickell Street
Ontario, CA 91761
Lee Javitch, Trustee for Lee Javitch, Trustee for
the Indenture of Trust of the Indenture of Trust of
Norman B. Lipsett, Trust Norman B. Lipsett, Trust
21 Stratford Road 21 Stratford Road
Harrison, NY 10528 Harrison, NY 10528
Michael Baldwin Partner, Baldwin Brothers
3 Barnabas Road (Financial Management &
Marion, MA 02738 Consulting Firm)
3 Barnabas Road
Marion, MA 02738
Howard Baldwin Partner, Baldwin Brothers
92A Malibu Colony (Financial Management & Consulting Firm)
Malibu, CA 90265 3 Barnabas Road
Marion, MA 02738
Charlotte P. Levine Retired Private Investor
1641 North Ogden Drive 1641 North Ogden Drive
Los Angeles, CA 90035 Los Angeles, CA 90035
Georgeann Oliva Homemaker
80 Brandywyne Drive 80 Brandywyne Drive
Florham Park, NJ 07932 Florham Park, NJ 07932
Jason A. Oliva Stock Options Trader
Gateway Plaza American Stock Exchange
Bldg. 600, Apt. 25M New York, NY
395 South End Avenue
New York, NY 10280
</TABLE>
5
