UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
IAT RESOURCES CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
742893506
(CUSIP Number)
August 2, 1999
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedul
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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CUSIP No. 742893506 Page 2 of 10 Pages
1 Name of Reporting Person
I.R.S. Identification Number of Above Person (entities only)
Augustine Fund, L.P.
2 Check The Appropriate Box If a Member of a Group (a)[X]
(b)[ ]
3 SEC Use Only
4 Citizenship or Place of Organization
Illinois
5 Sole Voting Power
0 shares
Number of
Shares 6 Shared Voting Power
Beneficially 1,565,708 shares
Owned By
Each Reporting 7 Sole Dispositive Power
Person With 0 shares
8 Shared Dispositive Power
1,565,708 shares
9 Aggregate Amount Beneficially Owned by Each Reporting Person-
1,565,708 shares
10 Check Box If The Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11 Percent of Class Represented By Amount in Row (9)
11.8%
12 Type of Reporting Person
PN
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CUSIP No. 742893506 Page 3 of 10 Pages
1 Name of Reporting Person
I.R.S. Identification Number of Above Person (entities only)
Augustine Capital Management, Inc.
2 Check The Appropriate Box If a Member of a Group (a)[X]
(b)[ ]
3 SEC Use Only
4 Citizenship or Place of Organization
Illinois
5 Sole Voting Power
0 shares
Number of
Shares 6 Shared Voting Power
Beneficially 1,565,708 shares
Owned By
Each Reporting 7 Sole Dispositive Power
Person With 0 shares
8 Shared Dispositive Power
1,565,708 shares
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,565,708 shares
10 Check Box If The Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11 Percent of Class Represented By Amount in Row (9)
11.8%
12 Type of Reporting Person
CO
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CUSIP No. 742893506 Page 4 of 10 Pages
1 Name of Reporting Person
I.R.S. Identification Number of Above Person (entities only)
John T. Porter
2 Check The Appropriate Box If a Member of a Group (a)[X]
(b)[ ]
3 SEC Use Only
4 Citizenship or Place of Organization
Illinois
5 Sole Voting Power
0 shares
Number of
Shares 6 Shared Voting Power
Beneficially 1,565,708 shares
Owned By
Each Reporting 7 Sole Dispositive Power
Person With 0 shares
8 Shared Dispositive Power
1,565,708 shares
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,565,708 shares
10 Check Box If The Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11 Percent of Class Represented By Amount in Row (9)
11.8%
12 Type of Reporting Person
IN
<PAGE>
CUSIP No. 742893506 Page 5 of 10 Pages
1 Name of Reporting Person
I.R.S. Identification Number of Above Person (entities only)
Brian D. Porter
2 Check The Appropriate Box If a Member of a Group (a)[X]
(b)[ ]
3 SEC Use Only
4 Citizenship or Place of Organization
Illinois
5 Sole Voting Power
0 shares
Number of
Shares 6 Shared Voting Power
Beneficially 1,565,708 shares
Owned By
Each Reporting 7 Sole Dispositive Power
Person With 0 shares
8 Shared Dispositive Power
1,565,708 shares
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,565,708 shares
10 Check Box If The Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11 Percent of Class Represented By Amount in Row (9)
11.8%
12 Type of Reporting Person
IN
<PAGE>
CUSIP No. 742893506 Page 6 of 10 Pages
1 Name of Reporting Person
I.R.S. Identification Number of Above Person (entities only)
Thomas Duszynski
2 Check The Appropriate Box If a Member of a Group (a)[X]
(b)[ ]
3 SEC Use Only
4 Citizenship or Place of Organization
Illinois
5 Sole Voting Power
0 shares
Number of
Shares 6 Shared Voting Power
Beneficially 1,565,708 shares
Owned By
Each Reporting 7 Sole Dispositive Power
Person With 0 shares
8 Shared Dispositive Power
1,565,708 shares
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,565,708 shares
10 Check Box If The Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11 Percent of Class Represented By Amount in Row (9)
11.8%
12 Type of Reporting Person
IN
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CUSIP No. 742893506 Page 7 of 10 Pages
Item 1(a) Name of Issuer:
IAT Resources Corporation
Item 1(b) Address of Issuer's Principal Office:
5757 Wilshire Boulevard
Penthouse One
Los Angeles, CA 90036
Item 2(a) Name of Person Filing:
Augustine Fund, L.P.
Augustine Capital Management, Inc.
John T. Porter
Brian D. Porter
Thomas Duszynski
Item 2(b) Address of Principal Business Office or, if none, Residence:
The business address of each person filing is 141 West Jackson Boulevard,
Suite 2182, Chicago, Illinois 60606.
Item 2(c) Citizenship:
Augustine Fund, L.P. is an Illinois limited partnership.
Augustine Capital Management, Inc. is an Illinois corporation.
John T. Porter, Brian D. Porter and Thomas Duszynski are all United
States citizens and residents of the State of Illinois.
Item 2(d) Title of Class of Securities:
Common Stock.
Item 2(e) CUSIP Number:
742893506
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
Not applicable.
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CUSIP No. 742893506 Page 8 of 10 Pages
Item 4. Ownership
Augustine Fund, L.P. ("Augustine Fund") may be deemed to share power to
vote and dispose of the shares owned of record with its general partner
Augustine Capital Management, Inc. ("Augustine Capital") and with the
shareholders, directors and officers of Augustine Capital, all of whom are John
T. Porter, Brian D. Porter or Thomas Duszynski. Such shares may be deemed to be
beneficially owned by any or all of Augustine Fund, Augustine Capital John T.
Porter, Brian D. Porter and Thomas Duszynski (collectively, the "Group
Members").
(a) Amount Beneficially Owned:
The Group Members beneficially own 1,565,708 shares. These shares are
issuable upon conversion of Series E Preferred Stock and Series F Preferred
Stock of the Issuer held by members of the Group. More details regarding these
series of Preferred Stock may be found in the Issuer's Form S-3 Registration
Statement filed with the United States Securities and Exchange Commission on
August 31, 1999. At the closing market trading price of $1.13 per share on
September 2, 1999, the number of shares of the Issuer's common stock into which
the Preferred Stock held by members of the Group could be converted was
1,565,708 shares.
(b) Percent of Class:
The Group Members beneficially own 11.8% of the class.
(c) Each of the Group Members has the number of shares listed below as to
which such Group Member has:
(i) sole power to vote or direct the vote: 0
(ii) shared power to vote or direct the vote: 1,565,708
(iii) sole power to dispose or direct the disposition of: 0
(iv) shared power to dispose or direct the disposition of: 1,565,708
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
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CUSIP No. 742893506 Page 9 of 10 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control
of the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that
purpose or effect.
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CUSIP No. 742893506 Page 3 of 10 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.
Date: September 2, 1999
AUGUSTINE FUND, L.P.
By: /s/ Thomas Duszynski
Its: Chief Financial Officer
AUGUSTINE CAPITAL MANAGEMENT, INC.
By: /s/ Thomas Duszynski
Its: Chief Financial Officer
JOHN T. PORTER
/s/ John Porter
BRIAN D. PORTER
/s/ Brian D. Porter
THOMAS DUSZYNSKI
/s/ Thomas Duszynski
