UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
Area Investment and Development Company
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(Name of Issuer)
Common Stock, par value $0.01
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(Title of Class of Securities)
039878 20 2
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(CUSIP Number)
Tammy Gehring, 2133 East 9400 South, Suite 151, Sandy, Utah 84093
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(Name, address and telephone number of person authorized to receive
notices and communications)
October 9, 1999
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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 that is subject of this Schedule 13D, and is filing
this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box ( ).
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Section 240.13d-7
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).
Potential persons who are respond to the collection of information
contained in this form are not required to respond unless the form displays a
currently valid OMB control number.
PAGE 1 OF 6
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PAGE 2 OF 6
SCHEDULE 13D
CUSIP No. 039878 20 2
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1) NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Ken Kurtz ###-##-####
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
(B) ( )
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3) SEC USE ONLY
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4) SOURCE OF FUNDS
OO
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5) CHECK BOX 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 citizen
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7) SOLE VOTING POWER
NUMBER OF 3,800,000 shares (42.0%)
SHARES --------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 1,843 shares (0.02%)
EACH --------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON WITH 3,800,000 shares (42.0%)
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10) SHARED DISPOSITIVE POWER
1,843 shares (0.02%)
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,801,843 shares (3,800,000 directly owned and 1,843 shares indirectly
owned through Park Street Investments, Inc.)
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( )
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.02%
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14) TYPE OF REPORTING PERSON
IN Individual
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PAGE 3 OF 6
SCHEDULE 13D
CUSIP No. 039878 20 2
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1) NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Park Street Investments, Inc. 87-0517103
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
(B) ( )
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3) SEC USE ONLY
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4) SOURCE OF FUNDS
OO
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5) CHECK BOX 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
Park Street Investments, Inc. is organized in the State of Utah
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7) SOLE VOTING POWER
NUMBER OF -0- shares (0.0%)
SHARES ----------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 1,843 shares (0.02%)
EACH ----------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON WITH -0- shares (0.0%)
---------------------------------------------------
10) SHARED DISPOSITIVE POWER
1,843 shares (0.02%)
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- shares
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( )
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
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14) TYPE OF REPORTING PERSON
CO Corporation
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PAGE 4 OF 6
Item 1. Security and Issuer
This statement relates to common stock, par value $0.01 ("Common Stock"), of
Area Investment and Development Company, a Utah corporation, with principal
executive offices at 2133 East 9400 South, Suite 151, Sandy, Utah 84093 (the
"Issuer" or "Company").
Item 2. Identity and Background
(a) This statement is filed by Ken Kurtz, an individual, and Park Street
Investments, Inc., a Utah corporation ("Park Street")
(b) The business address for both Ken Kurtz and Park Street is 2133 East
9400 South, Suite 151, Sandy, Utah 84093.
(c) The principal occupation of Ken Kurtz is a private investor and
consultant. Ken Kurtz is also the president and sole shareholder of
Park Street. The principal business of Park Street is providing
financial and business consulting.
(d) During the last five years, Ken Kurtz and Park Street have not been
convicted in a criminal proceeding (excluding traffic violations and
similar misdemeanors).
(e) During the last five years, Ken Kurtz and Park Street was not party to a
civil proceeding that resulted in 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) Ken Kurtz is a U.S. citizen. Park Street is a Utah corporation.
Item 3. Source and Amount of Funds or Other Consideration
Effective December 11, 1995 and ratified on October 9, 1996, Park Street
Investments, Inc. ("Park Street") was issued 110,000 restricted shares, at par
value of $0.01, pursuant to the Consulting Agreement dated January 5, 1996.
Effective March 15, 1996 the 110,000 shares owned by Park Street were reverse
split (ratio: 59.7 to 1) to 1,843 shares. Note: Ken Kurtz is the sole
officer, director and shareholder of PSI.
Effective June 15, 1997, Ken Kurtz was issued 2,000,000 restricted shares, at
par value of $0.01, for consideration of serving as an officer/director of the
Company and further for services provided to the Company.
Effective April 5, 1999, Ken Kurtz was issued 2,000,000 restricted shares, at
par value of $0.01, for $20,000.00 cash.
On April 16,1999 Ken Kurtz subsequently transferred 200,000 restricted shares
to an unaffiliated third party for services.
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PAGE 5 OF 6
Item 4. Purpose of Transaction
See "Item 3. Source and Amount of Funds or Other Consideration" above. At
this time, Mr. Kurtz has no intention of acquiring additional shares of the
Issuer reported herein, although he reserves the right to make additional
purchases from time to time. Any decision to make such additional purchases
will depend, however, on various factors, including, without limitation, the
price of the common stock, stock market conditions and the business prospects
of the Company reported herein. Mr. Kurtz has no present intention or
arrangements or understandings to effect any of the transactions listed in
Item 4(a)-(j) of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) The aggregate number and percentage of class of securities identified
pursuant to Item 1 beneficially owned by each person named in Item 2 may
be found in rows 11 and 13 of the cover pages.
(b) The powers each person identified in the preceding paragraph has
relative to the shares discussed herein may be found in rows 7 through
10 of the cover page.
(c) There were no transactions in the class of securities reported on that
were effected during the last sixty days aside from those discussed
herein.
(d) No person aside from the reporting persons listed herein has the right
to receive or power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities.
(e) Not Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Financial Consulting Agreement dated June 15, 1997 by and between Park Street
Investments, Inc. and Area Investment and Development Company, incorporated
herein by reference from the Issuer's initial registration statement on Form
10-SB originally filed on August 9, 1999.
Ken Kurtz does not have any other contracts, arrangements, understandings or
relationships (legal or otherwise) with any person with respect to any
securities of the Issuer, finder's fees, joint ventures, loan or option
agreements, puts and calls, guarantees of profits, division of profits or
loss, or the giving or withholding of proxies.
Item 7. Material to Be Filed as Exhibits.
Financial Consulting Agreement dated June 15, 1997 by and between Park Street
Investments, Inc. and Area Investment and Development Company, incorporated
herein by reference from the Issuer's initial registration statement on Form
10-SB originally filed on August 9, 1999.
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PAGE 6 OF 6
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.
Ken Kurtz Park Street Investments, Inc.
/s/ Ken Kurtz /s/ Ken Kurtz
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Ken Kurtz, an individual Ken Kurtz, President
Dated: October 1, 1999 Dated: October 1, 1999
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U. S.C. 1061).
