UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
SPATIALIGHT, INC.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
805691102
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(CUSIP Number)
Robert A. Olins
14 East 82nd Street, New York NY 10028 (212) 517-7313
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 28, 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 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 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.
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Page 2 of 5
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CUSIP No. 805691102
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1. NAME OF REPORTING PERSON Robert A. Olins
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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 OO
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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 of America
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NUMBER OF 7. SOLE VOTING POWER 0
SHARES --------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY --------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 0
REPORTING --------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,500
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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)
0.1%
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14. TYPE OF REPORTING PERSON
IN
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Page 3 of 5
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CUSIP No. 805691102
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1. NAME OF REPORTING PERSON
Argyle Capital Management Corporation
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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 OO
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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
Delaware
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NUMBER OF 7. SOLE VOTING POWER 28,236
SHARES --------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY --------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 28,236
REPORTING --------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,404,386
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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) 15.3%
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14. TYPE OF REPORTING PERSON
CO
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Page 4 of 5
Item 1. Security and Issuer.
This Amendment No. 1 amends and supplements the statement on Schedule
13D filed with the Securities and Exchange Commission on November 30, 1999 with
respect to the Common Stock, par value $0.01 per share ("Spatialight Stock"), of
Spatialight, Inc., a New York corporation ("Spatialight"). The principal
executive offices of Spatialight are located at 9 Commercial Blvd., Suite 200,
Novato, California 94949.
This amendment No. 1 is being filed to reflect the disposition of
shares of Spatialight Stock and the extension of the maturity date of certain
convertible notes. Except as amended and supplemented herein, the information
set forth in the original Schedule 13D filing remains true and correct in all
material respects.
Item 5. Interest in Securities of the Issuer.
(a)-(b) At the date of this Statement, 2,416,886 Spatialight Stock in
the aggregate are beneficially owned by the Filing Persons. The Filing Persons
represent approximately 15.4% of the total number of the issued and outstanding
shares of Spatialight (based upon information contained in the Form 10-QSB,
Quarterly Report of Spatialight, for the quarterly period ended September 30,
1999, stating that there were 13,288,258 Spatialight Stock outstanding as of
November 1, 1999).
At the date of this Statement, Argyle is the holder of $1,188,000 face
amount of the Convertible Notes, due June 30, 2001. The maturity date was
extended from December 31, 1999 since the filing of the original Schedule 13D.
If converted, the notes would generate 2,376,000 common shares, representing
15.2% of the Spatialight Stock outstanding. Principal and interest on the
Convertible Notes is immediately convertible into Spatialight Stock. Mr. Olins,
through Argyle, has sole power to convert, dispose or direct the disposition of
these Convertible Notes which carry no voting rights.
At the date of this Statement, Argyle is the holder of 28,386 common
shares which represent 0.2% of outstanding Spatialight Stock. This number of
shares reflects the disposition of 212,500 shares since the filing of the
original Schedule 13D. Mr. Olins, through Argyle, has sole power to dispose or
direct the disposition and sole power to vote or direct the vote of these
shares.
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Page 5 of 5
(c) The following transactions have been effected since filing of the
original Schedule 13D.
On December 23, 1999, 100,000 common shares were transferred from
Argyle to a unrelated third party. The transaction was a gift.
Between January 11, 2000 and January 26, 2000, Argyle disposed of a
total of 112,500 common shares through open market transactions executed in
compliance with Rule 144 under the Securities Act of 1933. The individual
transaction dates were: 1/11/00 sold 53,500 at $7.8750; 1/12/00 sold 2,500 at
$7.9375; 1/14/00 sold 5,000 at $7.8750; 1/24/00 sold 40,000 at $6.9059; and
1/26/00 sold 11,500 at $6.9103.
SIGNATURES
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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.
Date: January 28, 2000 /s/ Robert A. Olins
_____________________________
Robert A. Olins
/s/ Robert A. Olins
_____________________________
Argyle Capital
Management Corporation
by its President,
Robert A. Olins
