SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 2
Under the Securities Exchange Act of 1934
JMAR Industries, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class and Securities)
466212 107
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(CUSIP Number of Class of Securities)
Kernco Trust SA
2 rue Jargonnant, P.O. Box 6432, CH-1211, Geneva 6
Attn: Sunder Advani
1-011-4122-707-7030
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Skadden, Arps, Slate, Meagher & Flom LLP
919 Third Avenue
New York, New York 10022
(212) 735-3000
Attn: Deborah Tuchman
January 31, 2000
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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 Statement
because of Rule 13d-1(b)(3) or (4), check the following: ( )
Check the following box if a fee is being paid with this Statement: ( )
Documents Incorporated by Reference: Schedule 13D dated February 24, 1998,
as amended by Amendment No. 1 dated March 10, 1999.
SCHEDULE 13D
CUSIP No. 46612 107
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(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Kernco Trust SA
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) ( )
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
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(5) CHECK BOX 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
Switzerland
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(7) SOLE VOTING POWER
300,000 shares of Common Stock, par value
$.01 per share.
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY None
EACH -----------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH 300,000 shares of Common Stock, par value
$.01 per share.
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(10) SHARED DISPOSITIVE POWER
None
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000 shares of Common Stock, par value $.01 per share.
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(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES* ( )
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.7% of the Common Stock.
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(14) TYPE OF REPORTING PERSON* IA
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This Statement on Schedule 13D (the "Schedule 13D"), is being filed
pursuant to Rule 13d-1 of the Rules and Regulations under the Securities
Exchange Act of 1934, as amended (the "Exchange Act") by Kernco Trust SA
("Kernco"), with respect to the Common Stock, par value $.01 per share (the
"Common Stock"), of JMAR Industries, Inc., a Delaware corporation ("JMAR").
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to the Common Stock of JMAR. The principal
executive offices of JMAR are located at 3956 Sorrento Valley Blvd., San
Diego, California, 92121.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule 13D is filed by Kernco. The principal executive offices of
Kernco are located at 42 rue XXXI December, CH-1211, Geneva 6. Kernco acts
as an investment advisor to various entities, organizations and
individuals.
Set forth below are the name, address and present principal occupation or
employment with Kernco (except as otherwise indicated) of each director and
executive officer of Kernco.
Name and Address Position
1. Sunder J. Advani Chairman
10, Avenue Leonard Sismondi
1224 - Chene-Bougeries
Switzerland
2. Roland Farina Financial Director
Aurefind SA
rue de Lancy 7
P.O. Box 117
1211 Geneve 25
Switzerland
3. Maitre Andre de Pfyffer Director
De Pfyffer & Associes
6, rue Francois Bellot
1206 Geneve
Switzerland
During the last five years, neither Kernco nor, to the best knowledge of
Kernco, any director or executive officer of Kernco has been (i) convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding has been 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.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not applicable.
ITEM 4. PURPOSE OF TRANSACTION.
450,000 shares of the Common Stock were sold and 250,000 warrants were
exercised and sold for investment purposes on behalf of the Investment
Vehicles.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Kernco is the beneficial owner of 1.7% of the Common Stock.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships with
respect to the Common Stock.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
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: February 18, 2000 Kernco Trust S.A.
By: /s/ Sunder Advani
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Sunder Advani
