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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
SPARTA PHARMACEUTICALS, INC.
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(Name of Issuer)
COMMON STOCK, $.001 PAR VALUE PER SHARE
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(Title of Class of Securities)
846638104
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(CUSIP Number)
Norman J. Gantz, Neal, Gerber & Eisenberg
Two North LaSalle Street, Chicago, Illinois 60602
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 26, 1997
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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 / /.
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 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 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).
(Continued on following page(s))
Page 1 of 5 Pages
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CUSIP NO. 846638104 13D Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lou Weisbach
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
PF
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5 CHECK 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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7 SOLE VOTING POWER
NUMBER
1,005,000
OF SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
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EACH
9 SOLE DISPOSITIVE POWER
REPORTING
1,005,000
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,005,000
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12 CHECK 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).
7.2%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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CUSIP NO. 846638104 SCHEDULE 13D PAGE 3 OF 5
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ITEM 1. SECURITY AND ISSUER
This statement relates to the common stock, $.001 par
value per share (the "Common Stock"), of Sparta
Pharmaceuticals, Inc., a Delaware corporation, which has
its principal executive offices at 111 Rock Road, Horsham,
Pennsylvania 19044.
ITEM 2. IDENTITY AND BACKGROUND
(a) Name: Lou Weisbach (the "Reporting Person")
(b) Address: 5980 West Touhy Avenue
Niles, Illinois 60714
(c) Present The Reporting Person is the
Position: Chairman of the Board, President
and Chief Executive Officer of HA-LO
Industries, Inc., 5980 West Touhy Avenue,
Niles, Illinois 60714, an Illinois corporation
engaged in the marketing and distribution of
advertising specialty products.
(d) Criminal
Convictions: None.
(e) Judgments Against: None.
(i) Citizenship: United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Reporting Person used personal funds to acquire the
1,005,000 shares of Common Stock beneficially owned by him
as of December 16, 1997.
ITEM 4. PURPOSE OF THE TRANSACTION.
The shares of Common Stock owned by the Reporting Person
were acquired for investment. The Reporting Person
continuously reviews his investment portfolio, and
depending on market conditions, the business and prospects
of the Issuer and other relevant factors, he may (i)
continue to hold the shares of Common Stock which he
beneficially owns, (ii) purchase additional shares of
Common Stock on such terms and at such times as he
considers desirable or (iii) dispose of all or a portion
of such shares of Common Stock.
The Reporting Person currently has no plans or proposals
which relate to or would result in any of the actions
listed in paragraphs (a) through (j) of Item 4 of Schedule
13D.
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CUSIP NO. 846638104 SCHEDULE 13D PAGE 4 OF 5
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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) There are currently 14,001,396 outstanding shares of
Common Stock, $.001 par value per share, based on the
Company's most recent 10Q filing. As of December 16, 1997,
the Reporting Person beneficially owned 1,005,000 shares
of Common Stock or, to the best of his knowledge,
approximately 7.2% of the issued and outstanding shares of
Common Stock.
(b) The Reporting Person has the sole power to vote and the sole
power to dispose of all 1,005,000 shares of Common Stock
beneficially owned by him.
(c) Please refer to Page 4-1 for a response to this item.
(d) None.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
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CUSIP NO. 846638104 SCHEDULE 13D PAGE 4-1 OF 5
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For the period of time 60 days prior to the reporting event through the date
hereof, the Reporting Person has effected the following open market purchases of
shares of Common Stock through his brokers:
DATE OF TYPE OF AMOUNT OF PRICE
TRANSACTION TRANSACTION SECURITIES PER SHARE
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10/07/97 Purchase 10,000 0.69
10/20/97 Purchase 2,500 0.81
10/31/97 Purchase 20,000 0.65
11/04/97 Purchase 5,000 0.63
11/05/97 Purchase 10,000 0.63
11/14/97 Purchase 2,000 0.53
11/14/97 Purchase 2,500 0.59
11/14/97 Purchase 3,000 0.56
11/14/97 Purchase 7,000 0.59
11/14/97 Purchase 10,000 0.56
11/17/97 Purchase 5,000 0.53
11/17/97 Purchase 5,000 0.56
11/17/97 Purchase 5,000 0.53
11/17/97 Purchase 5,000 0.56
11/17/97 Purchase 20,000 0.56
11/19/97 Purchase 7,500 0.56
11/20/97 Purchase 2,500 0.56
11/25/97 Purchase 75,000 0.40
11/26/97 Purchase 17,800 0.44
11/26/97 Purchase 29,000 0.47
11/26/97 Purchase 66,700 0.41
11/28/97 Purchase 10,000 0.50
11/28/97 Purchase 10,000 0.50
11/28/97 Purchase 5,000 0.47
11/28/97 Purchase 10,000 0.47
11/28/97 Purchase 10,000 0.47
12/01/97 Purchase 25,000 0.50
12/01/97 Purchase 5,000 0.53
12/01/97 Purchase 5,000 0.53
12/02/97 Purchase 10,000 0.53
12/04/97 Purchase 50,000 0.41
12/04/97 Purchase 16,000 0.41
12/08/97 Purchase 50,000 0.47
12/09/97 Purchase 6,000 0.35
12/10/97 Purchase 10,000 0.34
12/11/97 Purchase 10,000 0.34
12/11/97 Purchase 5,000 0.38
12/11/97 Purchase 10,000 0.38
12/11/97 Purchase 5,000 0.38
12/11/97 Purchase 10,000 0.38
12/12/97 Purchase 5,000 0.38
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CUSIP NO. 846638104 SCHEDULE 13D PAGE 5 OF 5
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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: December 16, 1997
/s/ Lou Weisbach
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Lou Weisbach
