SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
SCHEDULE 13D
(Amendment No. 1)
Under the Securities Exchange Act of 1934
Sheffield Medical Technologies Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
8212 3D309
(CUSIP Number)
Richard J. Emmerich
Global Capital Management, Inc.
601 Carlson Parkway
Suite 200
Minnetonka, Minnesota 55305
(612) 476-7200
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 30, 1997
(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 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 [ ].
Check the following box if a fee is being paid with the statement
[ ].
(continued on following pages)
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CUSIP No. 8212 3D309 Schedule 13D (Amendment No. 1)
1) Name of Reporting Persons/S.S. or I.R.S. Identification Nos.
of Above Persons
Global Capital Management, Inc./FEIN 41-1625323
2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [ ]
3) SEC Use Only
4) Source of Funds
WC
5) Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
6) Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With:
(7) Sole Voting Power
808,742 (See Item 5)
(8) Shared Voting Power
0
(9) Sole Dispositive Power
808,742 (See Item 5)
(10) Shared Dispositive Power
0
11) Aggregate Amount Beneficially Owned by Each Reporting Person
808,742 (See Item 5)
12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares [ ]
13) Percent of Class Represented by Amount in Row (11)
6.3% (See Item 5)
14) Type of Reporting Person
CO
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SCHEDULE 13D
AMENDMENT NO. 1
This Amendment No. 1 to the Statement on Schedule 13D is
being filed pursuant to Section 13(d) of the Securities Exchange Act
of 1934 and the rules and regulations promulgated thereunder. This
Amendment No. 1 amends and supplements the Statement on Schedule 13D
relating to the common stock, par value $0.01 per share ("Common
Stock"), of Sheffield Medical Technologies, Inc., a Delaware
corporation (the "Issuer"), previously filed by Global Capital
Management, Inc., a Delaware corporation ("Global"). Capitalized
terms used and not defined herein shall have the meanings set forth in
the Schedule 13D. Except as amended herein, the Schedule 13D
previously filed remains unchanged.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Items 5(a) and 5(c) are hereby amended by adding the following:
(a) Without modifying the description set forth above in this
Item 5(a), as of July 11, 1997, the Investors held (i)
Series A Preferred Stock that was convertible into an
aggregate of 641,711 shares of Common Stock and (ii)
Warrants that were exercisable for an aggregate of 150,663
shares of Common Stock. Furthermore, as of July 11, the
Investors were entitled to cumulative dividends of an
aggregate of 16,368 shares of Common Stock upon conversion
of the Series A Preferred Stock or exercise of the Warrants.
Based on the Issuer's Registration Statement on Form S-3
filed with the Securities and Exchange Commission on May 23,
1997, there were 11,988,274 shares of Common Stock
outstanding as of that date. Based on that number of shares
and treating the shares of Common Stock underlying the
Investors' Series A Preferred Stock, Warrants and cumulative
dividends as also being outstanding, Global would be deemed
to be the beneficial owner of 6.3% of the Issuer's
outstanding Common Stock.
(c) No transactions in Common Stock were effected by the
Investors during the sixty (60) days prior to July 11, 1997.
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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: July 11, 1997 GLOBAL CAPITAL MANAGEMENT, INC.
By: /s/ John D. Brandenborg
-------------------------------
Name: John D. Brandenborg
Title: Vice-President
