UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Amendment No. __)*
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FRESH CHOICE, INC.
------------------------------
(Name of Issuer)
Common Stock
------------------------------
(Title of Class of Securities)
358032100
------------------------------
(CUSIP Number)
March 19, 1998
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 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 1 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 2 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Bay Area Micro-Cap Fund, L.P.
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power 293,400
Beneficially Owned
By Each Reporting (6) Shared Voting Power -0-
Person With
(7) Sole Dispositive Power 293,400
(8) Shared Dispositive Power -0-
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
293,400
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
5.16%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
PN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 2 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 3 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Bay Area Micro-Cap Management Company, LLC
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power 293,400
Beneficially Owned
By Each Reporting (6) Shared Voting Power -0-
Person With
(7) Sole Dispositive Power 293,400
(8) Shared Dispositive Power -0-
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
293,400
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
5.16%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
CO
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 3 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 4 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Smart & Holland Value Fund, L.P.
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power 20,000
Beneficially Owned
By Each Reporting (6) Shared Voting Power -0-
Person With
(7) Sole Dispositive Power 20,000
(8) Shared Dispositive Power -0-
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
20,000
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
0.35%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
PN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 4 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 5 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Smart & Holland Investment Fund, L.P.
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power 66,400
Beneficially Owned
By Each Reporting (6) Shared Voting Power -0-
Person With
(7) Sole Dispositive Power 66,400
(8) Shared Dispositive Power -0-
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
66,400
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
1.17%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
PN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 5 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 6 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Gregory F. Wilbur
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power -0-
Beneficially Owned
By Each Reporting (6) Shared Voting Power 293,400
Person With
(7) Sole Dispositive Power -0-
(8) Shared Dispositive Power 293,400
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
293,400
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
5.16%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 6 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 7 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
William A. Smart III
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power -0-
Beneficially Owned
By Each Reporting (6) Shared Voting Power 379,800
Person With
(7) Sole Dispositive Power -0-
(8) Shared Dispositive Power 379,800
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
379,800
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
6.68%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 7 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 8 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
Peter L. Holland
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power 23,300
Beneficially Owned
By Each Reporting (6) Shared Voting Power 359,800
Person With
(7) Sole Dispositive Power 23,300
(8) Shared Dispositive Power 359,800
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
383,100
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
6.74%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 8 of 13 pages
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CUSIP No. 358032100 Page 9 of 13 Pages
- ------------------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons. SS or I.R.S. Identification Nos. of Above Persons
David B. Holland
- ------------------------------------------------------------------------------------------------------------------------------------
(2) Check The Appropriate Box If A Member Of A Group (a)
(b) X
- ------------------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- ------------------------------------------------------------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
California
- ------------------------------------------------------------------------------------------------------------------------------------
Number Of Shares (5) Sole Voting Power 1,000
Beneficially Owned
By Each Reporting (6) Shared Voting Power 86,400
Person With
(7) Sole Dispositive Power 1,000
(8) Shared Dispositive Power 86,400
- ------------------------------------------------------------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned By Each Reporting Person
87,400
- ------------------------------------------------------------------------------------------------------------------------------------
(10) Check If The Aggregate Amount In Row (11) Excludes Certain Shares*
- ------------------------------------------------------------------------------------------------------------------------------------
(11) Percent Of Class Represented By Amount In Row (11)
1.54%
- ------------------------------------------------------------------------------------------------------------------------------------
(12) Type Of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTION BEFORE FILLING OUT!
</FN>
</TABLE>
Page 9 of 13 pages
<PAGE>
Item 1.
(a) Name of Issuer: Fresh Choice, Inc. ("Issuer")
(b) Address of Issuer's Principal Executive Offices:
2901 Tasman Drive, Suite 109
Santa Clara, CA 95054
Item 2.
(a) Name of Person Filing:
Bay Area Micro-Cap Fund, L.P. ("BAMC")
Bay Area Micro-Cap Management Co., LLC ("BAMCMC")
Smart & Holland Investment Fund, L.P. ("SHIF")
Smart & Holland Value Fund, L.P. ("SHVF")
Gregory F. Wilbur ("GFW")
Peter L. Holland ("PLH")
David B. Holland ("DBH")
William A. Smart III ("WAS")
(b) Address of Principal Business Office:
BAMC, BAMCMC, GFW, PLH and WAS: 1151 Bay Laurel Drive
Menlo Park, CA 94025
SHIF and DBH: P.O. Box 1266
Palo Alto, CA 94302
SHVF: P.O. Box 742
Palo Alto, CA 94302
(c) Citizenship/Place of Organization:
Entities: BAMC - California
BAMCMC - California
SHIF - California
SHVF - California
Individuals: GFW - United States
PLH - United States
DBH - United States
WAS - United States
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 358032100
Item 3. Not applicable.
Page 10 of 13 pages
<PAGE>
<TABLE>
Item 4 Ownership.
<CAPTION>
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
BAMC BAMCMC SHIF SHVF GFW PLH DBH WAS
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
(a) Beneficial 293,400 293,400 66,400 20,000 293,400 383,100 87,400 379,800
Ownership
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
(b) Percentage 5.16% 5.16% 1.17% 0.35% 5.16% 6.74% 1.54% 6.68%
of Class
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
(c) Sole 293,400 293,400 66,400 20,000 293,400 23,300 1,000 -0-
Voting
Power
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
Shared -0- -0- -0- -0- -0- 359,800 86,400 379,800
Voting
Power
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
Sole 293,400 293,400 66,400 20,000 293,400 23,300 1,000 -0-
Dispositive
Power
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
Shared -0- -0- -0- -0- -0- 359,800 86,400 379,800
Dispositive
Power
- ------- ------------ ----------- ----------- ---------- ------------ ----------- ----------- ------------ -----------
</TABLE>
Item 5. Ownership of Five Percent or Less of a Class
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group
No reporting person is a member of a group as defined in Section
240.13d-1(b)(1)(ii)(H) of the Act.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and were not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
EXHIBITS
A: Joint Filing Statement
Page 11 of 13 pages
<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
correct.
Date: March 24, 1998
BAY AREA MICRO-CAP FUND, L.P. SMART & HOLLAND INVESTMENT FUND, L.P.
By: Bay Area Micro-Cap Management Co., LLC
its general partner
By: /s/ Gregory F. Wilbur By: /s/ William A. Smart III
---------------------------- ----------------------------
Managing Member General Partner
BAY AREA MICRO-CAP MANAGEMENT CO., LLC SMART & HOLLAND VALUE FUND, L.P.
By: /s/ Gregory F. Wilbur By: /s/ William A. Smart III
---------------------------- ----------------------------
Managing Member General Partner
/s/ Gregory F. Wilbur
----------------------------
Gregory F. Wilbur
/s/ Peter L. Holland
----------------------------
Peter L. Holland
/s/ David B. Holland
d
----------------------------
David B. Holland
/s/ William A. Smart III
----------------------------
William A. Smart III
Page 12 of 13 pages
<PAGE>
EXHIBIT A
AGREEMENT OF JOINT FILING
We, the undersigned, hereby express our agreement that the attached
Schedule 13G is filed on behalf of us.
Date: March 24, 1998
BAY AREA MICRO-CAP FUND, L.P. SMART & HOLLAND INVESTMENT FUND, L.P.
By: Bay Area Micro-Cap Management Co., LLC
its general partner
By: /s/ Gregory F. Wilbur By: /s/ William A. Smart III
---------------------------- ----------------------------
Managing Member General Partner
BAY AREA MICRO-CAP MANAGEMENT CO., LLC SMART & HOLLAND VALUE FUND, L.P.
By: /s/ Gregory F. Wilbur By: /s/ William A. Smart III
---------------------------- ----------------------------
Managing Member General Partner
/s/ Gregory F. Wilbur
----------------------------
Gregory F. Wilbur
/s/ Peter L. Holland
----------------------------
Peter L. Holland
/s/ David B. Holland
----------------------------
David B. Holland
/s/ William A. Smart III
----------------------------
William A. Smart III
Page 13 of 13 pages
