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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. 17__)*
Magellan Technology, Inc.
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(Name of Issuer)
Common Stock, $0.0001 Par Value
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(Title of Class of Securities)
559092-40-8
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(CUSIP Number)
Richard G. Brown, Esq.
Parr, Waddoups, Brown, Gee & Loveless
185 South State Street, Suite 1300
Salt Lake City, UT 84111
(801) 532-7840
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 4, 1998
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(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 in 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
SEC 1746 (10-97) Page 1 of 6
<PAGE>
CUSIP No. 559092-40-8 SCHEDULE 13D Page 2 of 6 Pages
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1 Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Ballard Investment Company, Ltd.
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) |_|
(b) |_|
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N\A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
Utah
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7 Sole Voting Power
1,724,987 (includes currently exercisable
warrants to purchase 185,837 shares)
Number of ---------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially
Owned by -0-
Each ---------------------------------------------------------
Report 9 Sole Dispositive Power
Person
With 1,724,987 (includes currently exercisable
warrants to purchase 185,837 shares)
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10 Shared Dispositive Power
-0-
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,724,987 (includes currently exercisable warrants to purchase
185,837 shares)
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12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) |_|
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13 Percent of Class Represented by Amount in Row (11)
11.0%
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14 Type of Reporting Person (See Instructions)
PN
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<PAGE>
CUSIP No. 559092-40-8 SCHEDULE 13D Page 3 of 6 Pages
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This Amendment No. 17 to the Schedule 13D of Ballard Investment
Company, Ltd. amends and supplements, and should be read in conjunction with,
the Schedule 13D of Ballard Investment Company, Ltd. filed on December 9, 1992,
Amendment No. 1 thereto filed on February 9, 1993, Amendment Nos. 2, 3 and 4
thereto filed on May 23, 1994, Amendment No. 5 thereto filed on October 5, 1994,
Amendment No. 6 thereto filed on February 7, 1995, Amendment No. 7 thereto filed
on April 5, 1995, Amendment Nos. 8, 9, 10, 11, 12, 13, 14 and 15 thereto filed
on March 5, 1997 and Amendment No. 16 thereto filed on May 9, 1997.
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Item 1. Security and Issuer
(a) Title of Class of Equity Securities: Common Stock, $0.0001 par
value (the "Common Stock")
(b) Name of Issuer: Magellan Technology, Inc. (the "Issuer")
(c) Address of Issuer's Principal Executive Office: 13526 South 110
West, Draper, UT 84020
Item 2. Identity and Background
(a) Name: Ballard Investment Company, Ltd. (the "Reporting Person")
(b) Business Address and Principal Office: 145 South Fairway Drive,
North Salt Lake, UT 84054
(c) Present principal occupation or employment and the name,
principal business and address of any corporation or other
organization in which such employment is conducted: Management
of investments in securities for the benefit of its partners.
(d) Whether or not, during the last five years, such person has been
convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors) and, if so, give the dates, nature of
conviction, name and location of court, and penalty imposed, or
other disposition of the case: None
(e) Whether or not, during the last five years, such person was a
party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and as a result of such proceeding 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; and, if so, identify and
describe such proceedings and summarize the terms of such
judgment, decree or final order: None
(f) Place of Organization: Utah
The Reporting Person is a limited partnership, the general partners of
which are (i) R & B, L.L.C., a Utah limited liability company located at 2611
East 1300 South, Salt Lake City, UT 84108, (ii) the Barbara B. Ballard Trust
located at 2611 East 1300 South, Salt Lake City, UT 84108, (iii) Aero
Investments, L.C., a Utah limited liability company located at 145 So. Fairway
Drive, North Salt Lake, UT 84054 and (iv) BB & BJ, Inc., a Utah corporation
located at 780 East 400 South, Kaysville, UT 84037. The officers, directors and
owners of BB & BJ, Inc. are Bradford J. Brower and Tamara Brower. The Browers
reside at 780 East 400 South, Kaysville, UT 84037. Bradford J. Brower is the
President and a Director of Naptech Pressure Systems Corporation and Naptech,
Inc., 851 South Freeport Industrial Parkway, Clearfield, UT 84015. The Naptech
companies are in the business of pipe manufacturing and have been acquired by
the Shaw Group. The Browers have not been involved in a criminal or civil
proceeding during the last five years and are United States citizens.
<PAGE>
CUSIP No. 559092-40-8 SCHEDULE 13D Page 4 of 6 Pages
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The M. Russell Ballard Trust and the Barbara B. Ballard Trust are the
members of R & B, L.L.C. Mr. and Mrs. Ballard reside at 2611 East 1300 South in
Salt Lake City, UT. Mr. Ballard is a General Authority in the Church of Jesus
Christ of Latter-day Saints, 47 E. So. Temple, Salt Lake City, UT. Mrs. Ballard
does not work outside of the home. The Ballards have not been involved in a
criminal or civil proceeding within the last five years and are United States
citizens.
The Craig B. Ballard Trust and The Melissa G. Ballard Trust are the
members and Craig Ballard is the manager of Aero Investments, L.C. The Ballards
reside at 145 So. Fairway Dr., North Salt Lake, UT. The Ballards have not been
involved in a criminal or civil proceeding within the last five years and are
United States citizens.
Item 3. Source and Amount of Funds or Other Consideration
A warrant for the purchase of 15,000 shares of the Common Stock was
issued to the Reporting Person to induce the Reporting Person to guaranty a loan
made to the Issuer by a third party.
Item 4. Purpose of Transaction
See Item 3 above.
The Reporting Person reserves the right to purchase additional
securities of the Issuer or to dispose of such securities in the open market, in
privately negotiated transactions or in any other lawful manner in the future.
Except as described above, the Reporting Person presently has no plans or
proposals which relate to or would result in any action enumerated in
subparagraphs (a) through (j) of the instructions for Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) The Reporting Person has beneficial ownership of 1,724,987 shares
of the Common Stock, which (i) includes currently exercisable warrants to
purchase 185,837 shares of the Common Stock and (ii) represents 11.0% of the
outstanding shares of the Common Stock.
(b) The Reporting Person has sole power to vote, direct the vote,
dispose of or direct the disposition of 1,724,987 shares of the Common Stock.
(c) None.
(d) The Reporting Person is the only person with the right to receive
or the power to direct the receipt of dividends from, or the proceeds from the
sale of, the securities held by it.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
None.
<PAGE>
CUSIP No. 559092-40-8 SCHEDULE 13D Page 5 of 6 Pages
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Item 7. Material to Be Filed as Exhibits
None.
<PAGE>
CUSIP No. 559092-40-8 SCHEDULE 13D Page 6 of 6 Pages
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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.
BALLARD INVESTMENT COMPANY, LTD.,
a Utah limited partnership
By: /s/ M. RUSSELL BALLARD Date: July 14, 1998
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M. Russell Ballard, Trustee of a Member of a
General Partner
