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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13D-1(b),(c) AND (d) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)
TEXAS EQUIPMENT CORPORATION
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(Name of Issuer)
Common Stock, par value $.001 per share
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(Title of Class of Securities)
88241K109
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(CUSIP Number)
September 17, 1996
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(Date Of Event Which Requires Filing Of This Statement)
Check the appropriate box to designate the rule pursuant to which this schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
*The remainder of this cover page should 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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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
John T. Condit
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X] (see below at item 4)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER 3,515,415
6. SHARED VOTING POWER 0
7. SOLE DISPOSITIVE POWER 3,515,415
8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,515,415
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.9%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT
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STATEMENT ON SCHEDULE 13G
This statement on Schedule 13G relates to the common stock, par value
$.001 per share ("Common Stock"), of Texas Equipment Corporation, a Nevada
corporation (the "Company"), and is filed by John T. Condit. Mr. Condit
beneficially owns in his individual capacity 3,235,207 shares of Common Stock of
the Company.
ITEM 1(A) NAME OF ISSUER.
Texas Equipment Corporation
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
1305 Hobbs Highway, P.O. Box 790, Seminole, Texas 79360
ITEM 2(A) NAME OF PERSON FILING.
John T. Condit
ITEM 2(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE, RESIDENCE.
1305 Hobbs Highway, P.O. Box 790, Seminole, Texas 79360
ITEM 2(C) CITIZENSHIP OR PLACE OF ORGANIZATION.
United States.
ITEM 2(D) TITLE OF CLASS OF SECURITIES.
Common Stock, par value $.001 per share.
ITEM 2(E) CUSIP NUMBER.
88241K109
ITEM 3 REPORTING PERSON.
N/A
ITEM 4 OWNERSHIP.
3,515,415 shares (representing 13.9% of the class), 498,748 of
which shares may be purchased by the exercise of options.
NOTE:
The reporting person acted with his two brothers, Jefferey E.
Condit and Paul J. Condit (collectively, the "Condits") in
acquiring securities of the issuer as part of a merger in
which the Condits exchanged shares of a non-reporting company,
Texas Equipment Co., Inc., for shares of Marinex Multimedia
Corporation, thereafter known as Texas Equipment
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Corporation (the present issuer). This merger took place on
September 17, 1996, before the issuer was registered pursuant
to Section 12 of the Securities Exchange Act of 1934 (the
"Act") on December 3, 1996. Since such registration, the
Condits have not acted as a group in terms of holding, voting
or disposing of equity securities under Rule 13d-5(b)(1) of
the Act, nor do they have any agreement or understanding
amongst themselves to do so. While they have agreed with Deere
& Company (in connection with a dealership agreement with the
same) to maintain collective ownership of 35% of the issuer's
securities, each of the three Condits can dispose of all his
shares and still leave the remaining two with more than 35%
ownership. In light of these facts and circumstances, the
reporting person disclaims being in a "group" within the
meaning of Rule 13d-5(b)(1) and, pursuant to Rule 13d-4,
therefore disclaims any related beneficial ownership, as well
as any beneficial ownership under Rule 13d-3.
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
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
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10 CERTIFICATION.
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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: September 3, 1998
By: /S/ JOHN T. CONDIT
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John T. Condit
(in his individual capacity)
