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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.____________)*
Palomar Medical Technologies, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
697529-10-5
- --------------------------------------------------------------------------------
(CUSIP Number)
Adam D. Eilenberg
Ehrenreich Eilenberg Krause & Zivian LLP
11 East 44th Street, 17th Floor
New York, N.Y. 10017
(212) 986-9700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 24, 1998
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement of Schedule 13G to report
the acquisition which is the subject of the Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
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 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 would alter the
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).
(Continued on following page(s))
<PAGE>
CUSIP No. 697529-10-5 13D
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Rockside Foundation
- --------------------------------------------------------------------------------
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
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 2,823,600
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 4,621,100
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 2,823,600
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,621,100
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,621,100
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.47%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 697529-10-5 13D
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mark T. Smith
- --------------------------------------------------------------------------------
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
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,791,500
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 4,621,100
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 1,791,500
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,621,100
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,621,100
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.47%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 697529-10-5 13D
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Logg Investment Research, Inc.
- --------------------------------------------------------------------------------
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
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 6,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 4,621,100
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 6,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,621,100
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,621,100
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.47%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Schedule 13D
Item 1. Security and Issuer
This statement relates to the Common Stock, $.01 par value, of Palomar
Medical Technologies, Inc. (the "Issuer"), which has its principal executive
office at 45 Hartwell Avenue, Lexington, MA 02173.
Item 2. Identity and Background
The Reporting Persons are The Rockside Foundation, an Ohio not-for-profit
corporation ("Rockside"), Mark T. Smith ("Smith") and Logg Investment Research,
Inc., a Nevada corporation involved in investment management ("Logg"). The
address for Rockside is 524 North Avenue, New Rochelle, NY 10801. The address
for Mr. Smith is 7670 First Place, Oakwood, OH 44146. The address for Logg
Investment Research, Inc. is P.O. Box 4985, Stateline, NV 89449. Mr. Smith is
one of three trustees of Rockside. Each of the Reporting Persons is a private
investor. During the last five years, none of the Reporting Persons have been
either (i) convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors); or (ii) 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. Mr.
Smith is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration
Pursuant to a Securities Purchase Agreement (the "Securities Purchase
Agreement") between the Issuer, Rockside and Smith, on July 24, 1998 (the
"Closing"), Rockside and Smith collectively acquired 3,000,000 shares of Common
Stock of the Issuer and 3,000,000 Warrants (each a "Warrant" and collectively
the "Warrants") to purchase an equivalent number of shares of Common Stock, for
a price of $1.00 for each share of Common Stock and Warrant (an aggregate of
$3,000,000). Rockside purchased 1,800,000 shares of Common Stock and Warrants
and Smith purchased 1,200,000 shares of Common Stock and Warrants. The source of
funds was personal. The Warrants are not exercisable for a period of 6 months
from the July 24, 1998 closing, and therefore the shares of Common Stock
issuable upon the exercise thereof are not reported herein as being beneficially
owned by the Reporting Persons.
Prior to the Closing, Rockside and Smith, together with Logg, their
investment advisor with respect to their investment in the Issuer's securities,
had made open market purchases of the Issuer's Common Stock for a period of
several months at prices ranging from $.75 to $1.75 per share. Immediately prior
to the Closing, the aggregate holdings of the Reporting Persons were 1,621,100
shares of Common Stock. The source of funds for such purchases was personal.
Item 4. Purpose of Transaction
The Reporting Persons acquired the shares of Common Stock and Warrants for
investment purposes. Although they have no current intention to do so, depending
on market conditions and other factors, the Reporting Persons may acquire
additional shares, or sell all or a portion of their shares of Common Stock or
Warrants. The Reporting Persons have no plans or proposals which relate to or
would result in any of the actions set forth in subparagraphs (a) through (j) of
Item 4.
Item 5. Interest in Securities of the Issuer
See Items 7 through 13 of the Schedule 13D cover page.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Rockside and Smith entered into the Securities Purchase Agreement with the
Issuer with respect to the issuance of 3,000,000 shares of Common Stock and the
Warrants, and the registration of their resale of such shares as well as shares
of Common Stock issuable upon exercise of the Warrants. Each of the Reporting
Persons makes its own investment decisions and exercises voting power with
respect to the Issuer's securities, but is aware of the others' decisions and
actions. Rockside and Smith receive investment advice with respect to the
Issuer's securities from Logg.
Item 7. Material to be Filed as Exhibits
None
<PAGE>
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.
Date: August 3, 1998
THE ROCKSIDE FOUNDATION
By: /s/ John B. Haley
----------------------------------
Name: John B. Haley
Title: President
/s/ Mark T. Smith
----------------------------------
Mark T. Smith
LOGG INVESTMENT RESEARCH, INC.
By: /s/ Thomas O'Brien
----------------------------------
Name: Thomas O'Brien
Title: President
(120496DTI)
