UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
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ITEQ, Inc.
(Name of Issuer)
Common Stock, $0.001 par value
(Title of Class of Securities)
450430103
(CUSIP Number)
Roy T. Rimmer, Jr.
4550 Post Oak Place, Suite 175
Houston, Texas 77057
(713) 980-3800
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 25, 2000
(Date of Event which Requires Filing of This Statement)
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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 |_|.
The remainder of this cover page shall be filed 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 woudl alter disclosure 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).
<PAGE>
CUSIP NO. 450430103 Schedule 13D Page 2 of 6 Pages
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1 NAME OF REPORTING PERSON and S.S. OR I.R.S. IDENTIFICATION NO.
Roy T. Rimmer, Jr. ###-##-####
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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*
WC
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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
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 100,000 shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 3,528,235 shares
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 100,000 shares
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0- shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,628,235 shares
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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)
12.86%
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14 TYPE OF REPORTING PERSON*
IN
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<PAGE>
CUSIP NO. 450430103 Schedule 13D Page 3 of 6 Pages
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Item 1. Security and Issuer
Title of Class of Equity Securities: Common Stock,
$0.001 par value per share
Issuer:
ITEQ, Inc.
2727 Allen Parkway, Suite 760
Houston, Texas 77019
Item 2. Identity and Background
Roy T. Rimmer, Jr. ("Rimmer") is Chairman, President and 99%
majority shareholder of Producers Pipeline Corporation ("PPC")
which is the record holder of 100,000 shares of the Securities
reported herein. The principal business PPC is oil and gas
production and its business address is 4550 Post Oak Place, Suite
175, Houston, Texas, 77027. The principal occupation of Rimmer is
serving as Chairman of PPC. Rimmer is a citizen of the United
States of America.
Rimmer is deemed to be a 10% owner of the Issuer's Common Stock by
virtue of his voting rights that he may exercise with respect to
3,528,235 shares of Common Stock held by LJH Corporation ("LJH").
Rimmer has no pecuniary interest, indirect or direct, in those
shares.
Lacy J. Harber ("Harber") is Chairman, President and sole shareholder
of LJH, Corporation ("LJH"), which is the record holder of the Securities
reported herein. The principal business of LJH is investments and
its business address is 377 Neva Lane, Denison, Texas, 75020. The
principal occupation of Lacy J. Harber is self-employed investor
and serving as Chairman of LJH. Lacy J. Harber is a citizen of the
United States of America.
During the last five years, neither LJH, Harber, PPC or Rimmer have been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or 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.
Item 3. Source and Amount of Funds or Other Consideration
Working capital in the amount of $63,180 was used to purchase a
total of 100,000 shares in open market transactions at various prices
and in varying amounts. Rimmer has no pecuniary interest, indirect
or direct, in the 3,528,235 shares held by LJH.
<PAGE>
CUSIP NO. 450430103 Schedule 13D Page 4 of 6 Pages
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Item 4. Purpose of Transaction
Rimmer acquired through PPC the shares of Common Stock of the Issuer
reported herein for investment purposes and subject to the conditions
set forth below, reserves the right to make additional purchase
or sales of the Common Stock in the future. As the primary goal of the
Reporting Person is to maximize the value of this investment, additional
transactions will depend on various factors, including, without
limitation, the price ofthe Common Stock, stock market conditions and
business prospects of the Issuer.
Rimmer was appointed to the Board of Directors of the Issuer on January
21, 2000.
Except as described below, Rimmer has no current plans or proposals
which relate to or would result in:
(a) The acquistion by any person of additional securities of
the Issuer, or the disposition of securities of the Issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any
of its subsidiaries;
(c) A sale or transfer of a material amount of assests of the Issuer
or any of its subsidiaries;
(d) Any change in the present board of directors or managment of
the Issuer, including any plans or proposals to change the number
of term of directors or to fill any existing vacancies on the
board of directors of the Issuer.
(e) Any material change in the present capitalization or dividend
policy of the Issuer;
(f) Any other material change in the Issuer's business or corporate
structure including but not limited to, if the Issuer is a
registered closed-end investment company, any plans or proposals
to make any changes in its investment policy for which a vote is
required by Section 13 of the Investment Company Act of 1940, as
amended;
(g) Changes in the Issuer's charter, by-laws or instruments
corresponding thereto or other actions which may impede the
acquistion of control of the Issuers by any person;
(h) Causing a class of securities of the Issuer to be de-listed from
a national securities exchange or to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered
national securities association;
(i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Exchange Act of 1934, as amended (the "Act"), or;
(j) Any action similar to any of those enumerated above.
CUSIP NO. 450430103 Schedule 13 D Page 5 of 6 Pages
_____________________________________________________________________________
Item 5. Interest in Securities of the Issuer
Rimmer beneficially owns 100,000 shares of Common Stock and is deemed
to be beneficial owner of 3,528,235 shares of Common Stock held by LJH
by virtue of his voting rights, which together constitutes 12.86% of
the Company's outstanding shares of Common Stock, based upon
28,203,213 outstanding as of November 5, 1999. Rimmer shares the power
to vote 3,528,235 shares fof Common Stock and the sole power to
dispose of the 100,000 shares of Common Stock he beneficially owns.
Within the past 60 days, the following transactions in the Common
Stock were executed in the open market:
100,000 shares 12/31/99 $0.63 average price
No other person is known by the Reporting Person to have the right to
receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, any other Shares beneficially owned.
Item 6. Contract, Arrangements, Understandings or Relationships
with respect to Securities of the Issuer.
Harber has appointed Rimmer as Proxy and authorizes him to represent
and to vote at the Proxy's sole discretion all the shares of Common
Stock of the Issuer held by LJH, Corporation on any matter submitted
for a vote to the stockholders of the Issuer. The term of the Proxy
is two years beginning January 25, 2000. Rimmer was appointed to the
Issuer's Board of Directors on January 21, 2000.
Except for the relationship just described, Rimmer does not have
any contracts, arrangements, understandings or relationships (legal or
otherwise) with any person with respect to any securities of the
Issuer, finder's fees, joint ventures, loan or option agreements, puts
or calls, guarantees of profits, or the division of profits or losses.
Item 7. Materials to be Filed as Exhibits
Proxy Form dated January 25, 2000
CUSIP NO. 450430103 Schedule 13D Page 6 of 6 Pages
_____________________________________________________________________________
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.
February 3, 2000
By: /s/ Roy T. Rimmer, Jr.
Exhibit No. 1
Schedule 13 D
PROXY
The undersigned hereby appoints Roy T. Rimmer, Jr., as
Proxy, and hereby authorizes him to represent and to vote at
the Proxy's sole discretion all the shares of Common Stock
of ITEQ, Inc. (the "Company") held by the undersigned on any
matter submitted for a vote of the stockholders of the
Company at any annual or special meeting of stockholders or
submitted for a vote of the stockholders of the Company at
an annual or special meeting of stockholders or submitted to
the stockholders for action through written consent. This
Proxy shall remain in full force and effect for a term of
two years from the date hereof, unless sooner revoked in
writing by the undersigned.
Upon receipt of a copy of this instrument no third person
shall have any duty to inquire into the authority of the
Proxy to take any action under this instrument. I hereby
release and agree to indemnify any and all persons for
actions taken in compliance with directions of the Proxy or
for honoring any document executed by the Proxy or for any
action taken in reliance thereon.
If any of the shares of the Company are held beneficially
through one or more brokerage accounts and not of record,
the undersigned instructs and directs each brokerage firm
maintaining such accounts to forward all stockholder
communications from the Company to the Proxy at:
4550 Post Oak Place, Suite 175
Houston, Texas 77027
And to accept from the Proxy as the undersigned's attorney-
in-fact all instructions and directions on how to vote the
shares at any annual or special meeting of stockholders of
the Company.
LJH Corporation
Dated: January 25, 2000 By: /s/
Lacy J. Harber, President
Subscribed and sworn to before me this 25th day of January, 2000
/s/
Notary Public
