<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
ITEQ, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.001 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
450430103
- --------------------------------------------------------------------------------
(CUSIP Number)
Robert Alpert
The Alpert Companies
Three Allen Center
333 Clay, Suite 4150
Houston, Texas 77002
(713) 336-4700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 30, 1998
- --------------------------------------------------------------------------------
(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.[ ]
Check the following box if a fee is being paid with this statement [ ]. (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of less than five percent of such class.
See Rule 13d-7.)
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 the 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).
Page 1 of 12 Pages
<PAGE> 2
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
ROBERT ALPERT
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
PF
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
1,414,200
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,414,200
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,414,200
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
5.0%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 12 Pages
<PAGE> 3
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
DANRO CORPORATION
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
WC
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
1,014,200
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,014,200
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,014,200
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
3.6%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 12 Pages
<PAGE> 4
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
WILDWOOD CAPITAL COMPANY
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
WC
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
110,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
110,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
110,000
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.4%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 12 Pages
<PAGE> 5
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
MARKUS VENTURES, L.P.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
WC
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
242,500
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
242,500
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
242,500
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.9%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 12 Pages
<PAGE> 6
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
MARKUS INVESTMENTS, INC.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
WC
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
110,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
110,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
110,000
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.4%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT
Page 6 of 12 Pages
<PAGE> 7
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
JAMES VENTURES, L.P.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
WC
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
200,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
200,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
200,000
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.7%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT
Page 7 of 12 Pages
<PAGE> 8
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
JAMES INVESTMENTS, INC.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
WC
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
351,700
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
351,700
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
351,700
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.2%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT
Page 8 of 12 Pages
<PAGE> 9
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
GLADYS ALPERT
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
PF
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
25,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
25,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
25,000
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.1%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 12 Pages
<PAGE> 10
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to shares of Common Stock (the "Shares") of ITEQ,
Inc., formerly known as Air-Cure Technologies, Inc. (the "Company"). The address
of the Company is 2727 Allen Parkway, Suite 760, Houston, Texas 77019.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Schedule is filed on behalf of (i) Mr. Robert Alpert, (ii)
Danro Corporation, (iii) Wildwood Capital Company, (iv) Markus Ventures, L.P.,
(v) James Ventures, L.P., (vi) Markus Investments, Inc., (vii) James
Investments, Inc., and (viii) Mrs. Gladys Alpert.
Mr. Robert Alpert is the sole shareholder and President of
Danro Corporation.
Danro Corporation is the Managing General Partner of (i)
Wildwood Capital Management, (ii) Markus Ventures, L.P., and
(iii) James Ventures, L.P.
Markus Ventures, L.P. is the sole shareholder of Markus
Investments, Inc. Mr. Robert Alpert is the Chairman of Markus
Investments, Inc.
James Ventures, L.P. is the sole shareholder of James
Investments, Inc. Mr. Robert Alpert is the Chairman of James
Investments, Inc.
Mrs. Gladys Alpert is the mother of Robert Alpert.
The reporting entities and individuals (collectively, the
"Group") are making a joint filing pursuant to Rule 13d-1(f)
because, by reason of the relationship as described herein,
they may be deemed to be a "group" within the meaning of
Section 13(d)(3) with respect to acquiring, holding and
disposing of Shares.
(b) The address of the principal place of business and principal office
of each person referred to in paragraph (a) is Three Allen Center, 333 Clay,
Suite 4150, Houston, Texas 77002.
(c) The principal business of each of Wildwood Capital Company, Markus
Ventures, L.P., James Ventures, L.P., James Investments, Inc., and James
Investments, Inc. is that of a private investment fund, engaged in the purchase
and sale of securities for investment for its own account.
The principal occupation of Mr. Alpert is as President of
Danro Corporation, Managing General Partner of affiliated
partnerships.
The principal occupation of Mrs. Gladys Alpert is as an
investor.
(d) None of the persons referred to in paragraph (a) above has, during
the last five years, been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) None of the persons referred to in paragraph (a) above has, during
the last five years, been 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.
(f) Each individual referred to in paragraph (a) above is a citizen of
the United States. Danro Corporation, Markus Investments, Inc. and James
Investments, Inc. are each a corporation formed under the laws of the State of
Texas. Wildwood Capital Company is a general partnership formed under the laws
of the State of Texas. Markus Ventures, L.P. and James Ventures, L.P. are
limited partnerships formed under the laws of the State of Texas.
Page 10 of 12 Pages
<PAGE> 11
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The net investment cost (including commissions) is (i) $4,820,599 for
1,414,200 Shares beneficially owned by Mr. Alpert, and (ii) $102,504 for 25,000
Shares beneficially owned by Mrs. Gladys Alpert. The aggregate net investment
cost for the 1,439,200 Shares beneficially owned by the Group is $4,923,103. The
Shares purchased by the Group were purchased with the investment capital of the
respective member of the Group.
ITEM 4. PURPOSE OF THE TRANSACTION.
The Group has acquired Shares of the Company for investment purposes
only, in the ordinary course of business. In addition, in the ordinary course of
their business, the Group may acquire further Shares from time to time and may
attempt to sell all or a portion of its Shares from time to time in the open
market, in brokers' transactions, in transactions directly with market makers,
in privately negotiated transactions, or a combination of the foregoing.
Other than as set forth above, none of the Reporting Persons has any
plans or proposals which relate to, or could result in, any of the matters
referred to in paragraphs (b) through (j), inclusive, of Item 4 of Schedule 13D.
Such entities and persons may, at any time and from time to time, review or
reconsider their position with respect to any of such matters, but have no
present intention of doing so.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The approximate aggregate percentage of Shares reported
beneficially owned by each person herein is based on 28,159,933 shares
outstanding as of November 6, 1998, as reflected in the Form 10Q of the Company
for the period ending September 30, 1998.
As of the date hereof:
(i) Danro owns directly no Shares. By reason of the
provisions of Rule 13d-3 of the Act, Danro may be
deemed to own beneficially 1,014,200 Shares,
including (a) the 110,000 Shares owned directly by
Wildwood Capital Company, (b) the 242,500 Shares
owned directly by Markus Ventures, L.P. and the
110,000 Shares owned by Markus Investments, Inc.,
and (c) the 200,000 Shares owned directly by James
Ventures, L.P. and the 351,700 Shares owned by James
Investments, Inc., (constituting approximately 0.4%,
1.3% and 2.0% of the Shares outstanding,
respectively).
(ii) Mrs. Gladys Alpert owns directly 25,000 Shares,
constituting approximately 0.1% of the Shares
outstanding.
(iii) Mr. Alpert owns directly 400,000 Shares,
constituting approximately 1.4% of the Shares
outstanding. Mr. Alpert, by reason of Rule 13d-3 of
the Act, may be deemed to beneficially own the
Shares owned by each of the entities in above.
Accordingly, Mr. Alpert beneficially owns 1,439,200
Shares, representing approximately 5.1% of the
shares outstanding.
(b) Danro Corporation has the power to vote and dispose of the Shares
owned by (i) Wildwood Capital Company, (ii) Markus Ventures, L.P., and (iii)
James Ventures, L.P., which power may be exercised by the managing general
partner of each such Partnership. Mr. Alpert has voting and investment power
over Shares managed by Danro Corporation. Mr. Alpert has the sole voting and
dispositive powers over Shares owned directly.
(c) The trading dates, number of Shares purchased and price per share
for all transactions in the Shares, from the 60th day prior to December 30,
1998, by the Group are set forth on Schedule 5(c). All such transactions were
effected through the NASDAQ National Market and in brokers' transactions.
(d) No person other than each respective record owner referred to
herein of Shares is known to have the right to receive or the power to direct
the receipt of dividends from or the proceeds of sale of such Shares.
Page 11 of 12 Pages
<PAGE> 12
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
Other than the agreement described in Item 7 below, there are no
contracts, understandings or relationships (legal or otherwise) among the
persons named in Item 2 hereof and between such persons or any person with
respect to any securities of the Company, including but not limited to transfer
or voting of any of the Shares, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or loss,
or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
There is filed herewith as Exhibit 1 a written agreement relating to
the filing of joint acquisition statements, as required by Rule 13d-1(f)(1) of
the Securities Act of 1934.
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
January 15, 1999
DANRO CORPORATION
By: /s/ ROBERT ALPERT
------------------------------------
Robert Alpert, President
WILDWOOD CAPITAL COMPANY
MARKUS VENTURES, L.P.
JAMES VENTURES, L.P.
By: DANRO CORPORATION,
as their Managing General Partner
By: /s/ ROBERT ALPERT
------------------------------------
Robert Alpert, President
MARKUS INVESTMENTS, INC.
JAMES INVESTMENTS, INC.
By: /s/ ROBERT ALPERT
------------------------------------
Robert Alpert, Chairman
/s/ ROBERT ALPERT
-------------------------------------
Robert Alpert
/s/ GLADYS ALPERT
-------------------------------------
Gladys Alpert
Page 12 of 12 Pages
<PAGE> 13
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
- ------- -----------
<S> <C>
1 Joint Acquisition Statement
</TABLE>
<PAGE> 1
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-1(f)1
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D, as amended, is filed on behalf of each of the undersigned and that
all subsequent amendments to this statement on Schedule 13D, as amended, shall
be filed on behalf of each of the undersigned without the necessity of filing
additional joint acquisition statements. The undersigned acknowledge that each
shall be responsible for the timely filing of such amendments, and for the
completeness and accuracy of the information concerning him or it contained
therein, but shall not be responsible for the completeness and accuracy of the
information concerning the other, except to the extent that he or it knows or
has reason to believe that such information is inaccurate.
DANRO CORPORATION
By: /s/ ROBERT ALPERT
-------------------------------------
Robert Alpert, President
WILDWOOD CAPITAL COMPANY
MARKUS VENTURES, L.P.
JAMES VENTURES, L.P.
By: DANRO CORPORATION,
as their Managing General Partner
By: /s/ ROBERT ALPERT
-------------------------------------
Robert Alpert, President
MARKUS INVESTMENTS, INC.
JAMES INVESTMENTS, INC.
By: /s/ ROBERT ALPERT
-------------------------------------
Robert Alpert, Chairman
/s/ ROBERT ALPERT
-------------------------------------
Robert Alpert
/s/ GLADYS ALPERT
-------------------------------------
Gladys Alpert
<PAGE> 2
SCHEDULE 5(c)
<TABLE>
<CAPTION>
Member of Group Trade Date Unit Cost Cost Shares
--------------- ---------- --------- ---- ------
<S> <C> <C> <C> <C>
Markus Ventures, L.P. 12/28/98 2.24 525,828 235,000
Markus Ventures, L.P. 12/30/98 2.23 2,231 1,000
Markus Ventures, L.P. 12/30/98 2.23 2,231 1,000
Markus Ventures, L.P. 12/30/98 2.17 5,417 2,500
Markus Ventures, L.P. 12/30/98 2.23 6,692 3,000
Markus Investments, Inc. 11/11/98 2.92 263,066 90,000
Markus Investments, Inc. 01/05/99 2.35 46,951 20,000
James Ventures, L.P. 11/19/98 2.53 253,015 100,000
James Ventures, L.P. 11/30/98 2.42 234,706 96,800
James Ventures, L.P. 12/01/98 2.43 7,765 3,200
James Investments, Inc. 12/30/98 2.08 1,041 500
James Investments, Inc. 12/30/98 2.08 2,083 1,000
James Investments, Inc. 12/30/98 2.08 8,330 4,000
James Investments, Inc. 12/30/98 2.08 9,371 4,500
James Investments, Inc. 12/30/98 2.08 9,788 4,700
James Investments, Inc. 12/30/98 2.08 10,418 5,000
James Investments, Inc. 12/30/98 2.08 10,413 5,000
James Investments, Inc. 12/30/98 2.08 10,413 5,000
James Investments, Inc. 12/30/98 2.08 12,495 6,000
James Investments, Inc. 12/30/98 2.08 18,743 9,000
James Investments, Inc. 12/30/98 2.08 20,825 10,000
James Investments, Inc. 12/30/98 2.08 22,908 11,000
James Investments, Inc. 12/30/98 2.08 95,753 46,000
</TABLE>
