SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
M~WAVE, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
554034-10-8
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(CUSIP Number)
Paul Schmidt, CFO, 215 Park Street, Bensenville, IL 60106, (630)860-3560 ext.102
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
December 18,1998
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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 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 240.13d-7 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
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 that act
but shall be subject to all other provisions of the Act (however, see the
notes).
Potential person who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
SEC 1746 (2-98)
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CUSIP No. 554034-10-8 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (entities only)
Polyset Profit Sharing Plan, et. ano.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS* (See Instructions)
N/A
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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
New York
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NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH
REPORTING PERSON WITH
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8 SHARED VOTING POWER
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9 SOLE DISPOSITIVE POWER
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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14 TYPE OF REPORTING PERSON* (See Instructions)
EP
<PAGE>
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CUSIP No. 13D
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Polyset Company, Inc., Profit Sharing Plan
United States Securities and Exchange Commission
Schedule 13 D
Item 1. Security and Issuer
M~WAVE, INC., Common Stock
Paul Schmidtt, CFO
215 Park Street
Bensenville, IL 60106
Item 2. Identity and Background
This statement is being filed by the Polyset Company, Inc., Profit Sharing
Plan, Robert Silvera, Thomas P. Kelly, and Ramkrishna Ghoshal, sometimes
collectively known as the "Reporting Person". Silvera, Kelly and Ghoshal are
employees and/or directors of Polyset Company, Inc.
I POLYSET COMPANY, INC.
PROFIT SHARING PLAN
Polyset is a manufacturer of specialty adhesives and
coatings
office address: Upper North Main Street
Mechanicville, New York 12118
mailing address: P.O. Box 111
Mechanicville, NY 12118
II (a) ROBERT SILVERA
(b) residence address: 196 Mainsail Road
Kingston, TN 37763
(c) President of Polyset Company, Inc., P.O. Box 111,
Mechanicville, New York 12118
(d) Applicant has no criminal record
(e) Applicant has not been a party to a civil proceeding
with regard to Federal or State Securities Laws
(f) U.S. citizenship
III (a) THOMAS P. KELLY
(b) residence address: 4426 North Richmond Street
Chicago, Il 60625
(c) Commercial Pilot employed by American Airlines
(d) Applicant has no criminal record
(e) Applicant has not been a party to a civil proceeding
with regard to Federal or State Securities Laws
<PAGE>
(f) U.S. citizenship
III (a) RAMKRISHNA GHOSAL
(b) residence address: Cathedral Court
Clifton Park, NY 12065
(c) Secretary and Treasurer of Polyset Company, Inc., P.O.
Box 111,
(d) Applicant has no criminal record
(e) Applicant has not been a party to a civil proceeding
with regard to Federal or State Securities Laws
(f) U.S. citizenship
Item 3. Source and Amount of Funds or Other Consideration N/A
Former Reporting Person member known as Polyset Company, Inc., Profit
Sharing Plan, was disbanded on July 14, 2000, and all 101,000 shares
owned by it at the time of the ]ast reporting on June 22, 1999, were
disbursed for no consideration on July 15, 2000, to individual members
of the former Polyset Company, Inc., Profit Sharing Plan. None of
those individual members, known as the remaining parties comprising
the "Reporting Person," continues to control. more than five (5)
percent of M-WAVE, INC.'s common stock.
Item 4. Purpose of Transaction
The reporting persons want to report a change in beneficial ownership
of M-WAVE, INC. shares that would terminate the Reporting Person's
(co11ectively comprised of four parties as hereinbefore mentioned)
obligation to report to the Securities and Exchange Commission.
Polyset Company, Inc., Profit Sharing Plan, a party comprising the
"Reporting Person", has disbursed 101,000 shares of M-WAVE, INC.
common stock to Robert Silvera and Rarnkrishna Grosal, as individuals,
of whom neither own or control 5 percent or more of M-WAVE, INC.
common stock - Therefore, no individual member of the "Reporting
Person's" remaining holdings of M-WAVE, INC. comroon stock equal more
than five (5) percent. Further, one member of the "Reporting Person"
described in the June 22, 1999, reporting, Polyset Company, Inc.,
Profit Sharing Plan, Inc., has been dissolved.
<PAGE>
Item 5. Interest in Securities of the Issuer
(a) POLYSET COMPANY, INC., PROFIT SHARING PLAN has been dissolved
and owns 0 shares of common stock comprising 0% of M-WAVE,
INC.'s common stock. Robert Silvera owns, individually, 91,150
shares comprising 4% of M-WAVE, INC.'s common stock. Ram
Ghoshal owns, individually, 52,000 shares comprising 2.3% of
M-WAVE, INC.'s common stock. And, Thomas Kelly owns,
individually, 15,000 shares comprising .7% of M-WAVE, INC.'s
common stock. Each individual's control is limited to their
own individual holdings.
(b) Polyset Company, Inc. Profit Sharing Plan
(c) Polyset Company, Inc. Profit Sharing Plan has effected the
following transactions within the last sixty (60) days or
since the most recent filing of Schedule 13 D, whichever is
less. Polyset Company, Inc. Profit Sharing Plan disbanded and
disbursed all previously owned 101,000 shares of M-WAVE,
INC.'s common stock to Robert Silvera and Thomas P. Kelly, who
now own the above described amounts individually. Neither
party has any individual control over more than 5% of M-WAVE.
INC.'s common stock.
(d) This section is not applicable as applicants are the
beneficiaries of an employee benefit plan.
(e) Each individual member comprising the "Reporting Person"
ceased, as individuals and as a group, to be the beneficial
owner of more than 5% of the class of securities on July 14,
2000.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
There are no contracts, arrangements, understandings or relationships
with respect to securities of the Issuer.
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
accurate.
Dated: December 28, 2000
/s/ Polyset Co. Inc. Profit Sharing Plan by Robert Silvera Trustee
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Name/Title: Polyset Co. Inc. Profit Sharing Plan
/s/ Robert Silvera President
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Name/Title: Robert Silvera
/s/ Thomas P. Kelly Director
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Name/Title: Thomas P. Kelly
/s/ Ramkrishna Ghoshal Security Treasurer - Chamber of Board
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Name/Title: Ramkrishna Ghosha
