SECURITIES AND EXHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
(Rule 13d-102)
UNDER THE SECURITIES ECHANGE ACT OF 1934
(Amendment No. __________)*
Nexar Technologies, Inc.
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(Name of Issuer)
Common Stock, $0.01 par value per share
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(Title of Class of Securities)
65332P 10 6
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(CUSIP Number)
CIK: 0000881695
Check the following box is a fee is being paid with this statement [ ].
(A fee is not required only of the filing 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 five percent or less of such class.)
(See Rule 13d-7.)
*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 4 Pages
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CUSIP No. 65332P 10 6 13G Page 2 of 4 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVER PERSON
Palomar Medical Technologies, Inc. Fed ID No. 04-3128178
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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. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A-Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES 3,746,343 shares (includes 406,080 shares which Palomar
BENEFICIALLY has the right to acquire pursuant to currently exercisable
OWNED BY preferred stock)
EACH ------------------------------------------------------------
REPORTING 6. SHARED VOTING POWER
PERSON
WITH ------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
3,746,343 shares (includes 406,080 shares which Palomar
has the right to acquire pursuant to currently exercisable
preferred stock)
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8. SHARED DISPOSITIVE POWER
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,746,343 shares (includes 406,080 shares which Palomar has the
right to acquire pursuant to currently exercisable preferred stock)
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
37.30%
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12. TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILING OUT!
Page 2 of 4 Pages
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Item 1. (a) Name of Issuer: Nexar Technologies, Inc.
(b) Address of Issuer's Principal Executive Offices:
257 Turnpike Road, Southborough, MA 01772
Item 2. (a) Name of Person Filing: Palomar Medical Technologies, Inc.
(b) Address of Principal Business Office: 45 Hartwell Avenue
Lexington, MA 02173
(c) Citizenship: U.S.A
(d) Title of Class of Securities: Common Stock
$.01 par value per share
(e) CUSIP Number: 65332P 10 6
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person is a:
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of the Act
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see Section 240.13d(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G)
(h) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)
Item 4. Ownership.
(a) Amount Beneficially Owned: 3,746,343 shares (includes 406,080
shares which Palomar has the right to acquire pursuant to
currently exercisable preferred stock.
(b) Percent of Class: 37.30%
(c) Number of Shares as to which person has:
(i) Sole power to vote or to direct the vote: 3,746,343
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of: 3,746,343
(iv) Shared power to dispose or to direct the disposition of: 0
Item 5. Ownership of Five Percent on Behalf of Another Person.
N/A
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
N/A
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
N/A
Page 3 of 4 Pages
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Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
N/A
By signing below I/We certify that, to the best of my knowledge and
belief, the securities referred to above where acquired in the ordinary
course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of
such securities and were not acquired in connection with or as a
participant in any transaction having such purpose or effect.
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: February 13, 1998
By: /s/ Louis P. Valente
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Chief Executive Officer and President
Page 4 of 4 Pages
