SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____)
Preferred Networks, Inc.
-----------------------------------------------------------
(Name of Issuer)
Common Stock
-----------------------------------------------------------
(Title of Class of Securities)
739905107
----------------------------------------
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing in 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 in 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).
<PAGE>
CUSIP No. 739905107 13G Page 2 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fleet Venture Resources, Inc.
TIN#: 05-0315508
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Rhode Island
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 632,450
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
632,450
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
632,450
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 3 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fleet Equity Partners VI, L.P.
TIN#: 05-0481063
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 271,049
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
271,049
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
271,049
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.9%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 4 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fleet Growth Resources II, Inc.
TIN#: 05-0481064
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 271,049
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
271,049
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
271,049
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.9%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 5 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fleet Growth Resources, Inc.
TIN#: 05-0401134
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Rhode Island
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 271,049
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
271,049
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
271,049
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.9%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 6 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Silverado IV Corp.
TIN#: 05-0481110
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 271,049
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
271,049
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
271,049
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.9%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 7 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fleet Private Equity Co., Inc.
TIN#: 05-0471718
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Rhode Island
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 903,499
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
903,499
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
903,499
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 8 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chisholm Partners II, L.P.
TIN#: 05-0474058
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 139,001
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
139,001
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
139,001
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 9 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Silverado II Corp.
TIN#: 05-0474043
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 139,001
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
139,001
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
139,001
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 10 of 17 Pages
- ------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Silverado II L.P.
TIN#: 05-0474036
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 139,001
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
139,001
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
139,001
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 11 of 17 Pages
- ------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fleet Financial Group, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Rhode Island
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY None.
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 903,499
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
None.
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
903,499
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
903,499
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 739905107 13G Page 12 of 17 Pages
- ------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert M. Van Degna
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Rhode Island
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 3,000
OWNED BY --------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 1,042,500
WITH --------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
3,000
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,042,500
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
less than 0.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
SCHEDULE 13G
CUSIP No. 739905107 Page 13 of 17
Item 1(a) Name of Issuer: Preferred Networks, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
850 Center Way
Norcross, GA 30071
Item 2(a) Name of Person Filing: 1) Fleet Venture Resources, Inc.
2) Fleet Equity Partners, VI, L.P.
3) Fleet Growth Resources II, Inc.
4) Fleet Growth Resources, Inc.
5) Silverado IV Corp.
6) Fleet Private Equity Co., Inc.
7) Chisholm Partners II, L.P.
8) Silverado II Corp.
9) Silverado II, L.P.
10) Fleet Financial Group, Inc.
11) Robert M. Van Degna
Item 2(b) Principal Business Offices: For all entities cited in Item 2a)
except as noted:
50 Kennedy Plaza
Providence, RI 02903
10) One Federal Street
Boston, MA 02110
11) Principal Residence of Robert M. Van Degna
355 Kent Drive
East Greenwich, RI 02818
Item 2(c) Citizenship: as cited in Item 2a):
1) RI Corporation
2) DE Partnership
3) DE Corporation
4) RI Corporation
5) DE Corporation
6) RI Corporation
7) DE Partnership
8) DE Corporation
9) DE Partnership
10) RI Corporation
11) United States citizen
Item 2(d) Class of Securities: Common Stock
Item 2(e) CUSIP Number: 739905107
<PAGE>
SCHEDULE 13G
CUSIP No. 739905107 Page 14 of 17
Item 3) Not Applicable
Item 4) Ownership
Fleet Venture Resources, Inc. owns of record 632,450 shares of Common
Stock.
Fleet Equity Partners VI, L.P. owns of record 271,049 shares of Common
Stock.
Fleet Growth Resources II, Inc. is a General Partner of Fleet Equity
Partners VI, L.P., and as such may be deemed to possess indirect beneficial
ownership of the shares of Common Stock deemed beneficially held by Fleet Equity
Partners VI, L.P.
Fleet Growth Resources, Inc. owns all of the outstanding Common Stock of
Fleet Growth Resources II, Inc. and as such may be deemed to possess indirect
beneficial ownership of the shares of Common Stock deemed beneficially held by
Fleet Equity Partners VI, L.P.
Silverado IV Corp. is a General Partner of Fleet Equity Partners VI, L.P.,
and as such may be deemed to possess indirect beneficial ownership of the shares
of Common Stock deemed beneficially held by Fleet Equity Partners VI, L.P.
Fleet Private Equity Co., Inc. owns all of the outstanding Common Stock of
Fleet Venture Resources, Inc. and Fleet Growth Resources, Inc., and as such may
be deemed to possess indirect beneficial ownership of the shares of Common Stock
deemed beneficially held by Fleet Venture Resources, Inc. and Fleet Equity
Partners VI, L.P.
Chisholm Partners II, L.P. owns of record 139,001 shares of Common Stock.
Silverado II Corp. is the General Partner of Silverado II, L.P. which is
the General Partner of Chisholm Partners II, L.P. and as such may be deemed to
possess indirect beneficial ownership of the shares of Common Stock deemed
beneficially held by Chisholm Partners II, L.P.
Silverado II, L.P. is the General Partner of Chisholm Partners II, L.P.,
and as such may be deemed to possess indirect beneficial ownership of the shares
of Common Stock deemed beneficially held by Chisholm Partners II, L.P.
Fleet Financial Group, Inc. owns all of the outstanding Common Stock of
Fleet Private Equity Co., Inc., which owns all of the outstanding stock of Fleet
Venture Resources, Inc. and Fleet Growth Resources, Inc., and by virtue of the
relationships previously described, may thus be deemed to possess indirect
beneficial ownership of the shares of Common Stock deemed beneficially held by
Fleet Venture Resources, Inc. and Fleet Growth Resources, Inc.
Robert M. Van Degna owns of record 3,000 shares of Common Stock, granted
pursuant to the Preferred Networks Director's Restricted Stock Award Plan (the
"Plan"), which are fully vested and exercisable. In addition, Robert M. Van
Degna owns 12,000 shares of Common Stock, granted pursuant to the Plan, which
are not yet vested. Of these shares, 3,000 will vest on each of the next four
annual meeting dates of Preferred Networks, Inc. Mr. Van Degna also has shared
investment and voting power with respect to the 1,042,500 Common Stock shares
held by Fleet Venture Resources, Inc., Fleet Equity Partners VI, L.P. and
Chisholm Partners II, L.P. Mr. Van Degna disclaims beneficial ownership of the
shares of Common Stock held by these entities, except for his limited
partnership interest in Fleet Equity Partners VI, L.P. and in the general
partner of Chisholm Partners II, L.P.
<PAGE>
SCHEDULE 13G
CUSIP No. 739905107 Page 15 of 17
Item 5) Not Applicable
Item 6) Not Applicable
Item 7) Not Applicable
Item 8) See Exhibit A
Item 9) Not Applicable
Item 10) Not Applicable
<PAGE>
SCHEDULE 13G
CUSIP No. 739905107 Page 16 of 17
EXHIBIT A
Identification and Classification of Members of the Group:
Fleet Venture Resources, Inc. CO
Fleet Equity Partners VI, L.P. PN
Fleet Growth Resources II, Inc. CO
Fleet Growth Resources, Inc. CO
Silverado IV Corp. CO
Fleet Private Equity Co., Inc. CO
Chisholm Partners II, L.P. PN
Silverado II Corp. CO
Silverado II, L.P. PN
Fleet Financial Group, Inc. CO
Robert M. Van Degna IN
<PAGE>
SCHEDULE 13G
CUSIP No. 739905107 Page 17 of 17
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
February 13, 1997 FLEET VENTURE RESOURCES, INC.
/s/ Robert M. Van Degna
------------------------------
By Robert M. Van Degna
Its Chairman & CEO
