RUSHMORE FINANCIAL GROUP INC
SC 13D, 1998-05-05
INSURANCE AGENTS, BROKERS & SERVICE
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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. 0)*

                        RUSHMORE FINANCIAL GROUP, INC.
- --------------------------------------------------------------------------------
                               (Name of Issuer)

                         COMMON STOCK, PAR VALUE $0.01
- --------------------------------------------------------------------------------
                        (Title of Class of Securities)

                                  782055 10 7
- --------------------------------------------------------------------------------
                                (CUSIP Number)

DEWEY MALONE (RUSTY) MOORE, JR., 13355 NOEL ROAD, SUITE 650, DALLAS, TEXAS 75240
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
                                Communications)

                                APRIL 24, 1998
- --------------------------------------------------------------------------------
           (Date of Event which Requires Filing of this Settlement)


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 (however, see the
Notes).
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- -----------------------                                  ---------------------
  CUSIP NO. 782055107                   13D                PAGE 2 OF 5 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          
      Dewey Malone (Rusty) Moore, Jr.
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      SOURCE OF FUNDS*
 4

      PF
- ------------------------------------------------------------------------------
      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 
      ITEMS 2(d) OR 2(e)
 5                                                                   [_]


- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 6    

      United States of America
- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     7     
     NUMBER OF            
                          535,395
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      8    
                          
     OWNED BY             -0-
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     9     
    REPORTING             
                          535,395
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH         10    
                          -0-
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11    
      
      535,395
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12                                                                    [_]
 
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13    
      
      17.9%
- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
14
      
      IN
- ------------------------------------------------------------------------------
<PAGE>
 
ITEM 1.   SECURITY AND ISSUER.

     This statement relates to shares of Common Stock, par value $0.01 per
share, of Rushmore Financial Group, Inc., a Texas corporation (the "Issuer"),
with principal executive offices at 13355 Noel Road, Suite 650, Dallas, Texas
75240.

ITEM 2.   IDENTITY AND BACKGROUND.

     This statement is filed with respect to the ownership of 535,395 shares of
the Issuer's Common Stock, consisting of 528,312 shares owned of record and
7,083 shares issuable upon exercise of stock options. The following information
is provided regarding the owner:

     (a)  Name:               Dewey Malone (Rusty) Moore, Jr.

     (b)  Business Address:   13355 Noel Road, Suite 650
                              Dallas, Texas 75240

     (c)  Principal Occupation: Chief Executive Officer, Rushmore Financial
          Group, Inc.

     (d)  Registrant has not, during the past five years, been convicted in any
          criminal proceeding (excluding traffic violations and similar
          misdemeanors).

     (e)  Registrant has not, during the past five years, been a party to a
          civil proceeding of a judicial or administrative body of competent
          jurisdiction or been 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.

     (f)  Registrant is a citizen of the United States of America.

ITEM 3.   SOURCE AND AMOUNT OF FUNDS, OR OTHER CONSIDERATION.

     See Item 4.

ITEM 4.  PURPOSE OF TRANSACTION.

     Registrant founded the Issuer in 1990 to provide a wide range of investment
and insurance services to a national client base.  Registrant acquired shares of
the Issuer upon its formation and has acquired additional shares of Common Stock
and options to purchase Common Stock at prices ranging up to $1.92 per share.
All such shares have been acquired with Registrant's personal funds.

     In April 1998, the Issuer concluded an initial public offering of its
Common Stock, selling 815,341 shares to approximately 500 purchasers.  As a
result of the public offering and the previous issuances of stock to employees
and investors, Registrant now owns shares equal to 17.9% of all shares
outstanding.
<PAGE>
 
     The purpose of the transactions in such shares has been to acquire a
proprietary stake in and assist in the financing of a growing company that can
compete in the market for financial services.  Registrant takes an active role
in the management of the Issuer and is Chairman and Chief Executive Officer.

     Registrant has no present plan or proposal which would relate to or result
in: (a) the acquisition of additional securities of the Issuer, except for
possible open market purchases; (b) any extraordinary corporate transaction
involving the Issuer; (c) a sale or transfer of a material amount of assets of
the Issuer or its subsidiaries; (d) any change in the Board of Directors of the
Issuer; (e) any material change in the Issuer's capitalization or dividend
policy; (f) any other material change in the Issuer's business or corporate
structure; (g) any change in the Issuer's Articles of Incorporation or Bylaws
which may impede the acquisition of control of the Issuer; (h) cause any
securities of the Issuer to be delisted from the NASDAQ; (i) any class of equity
securities of the Issuer becoming eligible for termination of registration
pursuant to Section 12(g)(4) of the Securities act of 1933; or (j) any action
similar to those enumerated above.

ITEM 5.  INTERESTS IN SECURITIES OF THE ISSUER.

     (a) 535,395 shares (17.9% of shares outstanding) consisting of 528,312
shares and options to acquire 7,083 shares.

     (b) Dewey Malone (Rusty) Moore, Jr. - sole power to vote and dispose.

     (c) See Item 4.

     (d) None.

     (e) Not applicable.

ITEM 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.

     None.

ITEM 7.  MATERIAL TO BE FILED AS EXHIBITS.

     None.
<PAGE>
 
SIGNATURE

     After reasonable inquiry and to the best of my information and belief, I
certify that the information set forth in this statement is true, complete, and
correct.



April 30, 1998                               /s/ Dewey Malone Moore, Jr.
- --------------------------                   ---------------------------------
Date                                         Dewey Malone Moore, Jr.


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