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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. 1) *
INTERNATIONAL AIRLINE SUPPORT GROUP, INC.
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(Name of Issuer)
Common Stock, par value $.001 per share
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(Title of Class of Securities)
458865201
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(CUSIP Number)
W. Robert Ramsdell
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474 Paseo Miramar
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Pacific Palisades, CA 90272
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(310) 459-5617
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
Copy to:
Arthur L. Zwickel, Esq.
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Paul, Hastings, Janofsky & Walker LLP
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555 South Flower Street
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Los Angeles, CA 90017-2371
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(213) 683-6102
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October 15, 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 (S)(S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [_].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See (S)240.13d-7(b) 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).
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SCHEDULE 13D
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CUSIP NO. 458865201
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NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
W. Robert Ramsdell
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS
4
PF
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
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SOLE VOTING POWER
7
NUMBER OF
162,633.33
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
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EACH SOLE DISPOSITIVE POWER
9
REPORTING
162,633.33
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
162,633.33
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.3%
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TYPE OF REPORTING PERSON
14
IN
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ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to the common stock, par value $.001 per share
(the "Common Stock"), of International Airline Support Group, Inc., a Delaware
corporation (the "Issuer"). The principal executive offices of the Issuer are
located at 1954 Airport Road, Suite 200, Atlanta, Georgia 30341.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule 13D is filed on behalf of W. Robert Ramsdell, an individual
(the "Reporting Person"). The Reporting Person's address is 474 Paseo Miramar,
Pacific Palisades, California 90272. The Reporting Person's principal
occupation is an investor. The Reporting Person is a citizen of the United
States.
During the last five years, the Reporting Person has not been convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors),
nor was the Reporting Person 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.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The responses to Item 5 are incorporated herein by this reference. The
consideration for each such purchase referred to in Item 5 was the personal
funds of the Reporting Person.
ITEM 4. PURPOSE OF THE TRANSACTION.
The Reporting Person has acquired the shares of Common Stock for investment
purposes only. The Reporting Person may acquire additional shares of Common
Stock, dispose of all or some of such shares from time to time, in each case in
open market transactions, block sales or purchases or otherwise, or may continue
to hold such shares.
The Reporting Person does not currently have any plan or proposal that
relates to or would result in any action enumerated in Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The Reporting Person beneficially owns 162,633.33 shares of Common Stock,
or approximately 6.3% of the shares of Common Stock outstanding. This
percentage is based on 2,569,167 shares of Common Stock outstanding as contained
in the most recently available filing with the Securities and Exchange
Commission by the Issuer. The Reporting Person has sole power to vote or to
direct the vote, and sole power to dispose or to direct the disposition of,
162,633.33 shares of Common Stock.
The transactions in the shares of Common Stock that were effected during
the past 60 days by the Reporting Person each involved the acquisition of the
shares of Common Stock on the open market as follows:
<TABLE>
<CAPTION>
Date of Purchase Amount of Shares Price Per Share Purchase Price
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<S> <C> <C> <C>
February 5, 1998 1,000 $ 7.000 $ 7,000.00
February 6, 1998 300 $ 7.625 $ 2,287.50
March 26, 1998 3,333.33 $ 9.786 $32,619.97
April 1, 1998 5,000 $10.625 $53,125.00
October 15, 1998 22,000 $ 3.807 $83,754.00
</TABLE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
The Reporting Person has no contracts, arrangements, understandings or
relations (legal or otherwise) with any person 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: October 19, 1998
/s/ W. Robert Ramsdell
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W. Robert Ramsdell
