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Schedule 13G Page 1 of 4
SEC Potential persons who are to respond to the collection of
1745 (3-98) information contained in this form are not required to respond
unless the form displays a currently valid OMB control number.
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Estimated average burden
SCHEDULE 13G hour per response...14.9
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Planet Polymer Technologies, Inc.
-----------------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
727044109
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(CUSIP Number)
December 15, 1999
-----------------------------------------
(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)
[X] 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).
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Schedule 13G Page 2 of 4
CUSIP NO. 727044109
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1. Names of Reporting Persons. Lorraine DiPaolo
I.R.S. Identification Nos. of above persons (entities only).
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ..........................................................
(b) ..........................................................
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power 96,100
Shares ------------------------------------------------------------
Beneficially 6. Shared Voting Power 593,000
Owned by ------------------------------------------------------------
Each 7. Sole Dispositive Power 96,100
Reporting ------------------------------------------------------------
Person With 8. Shared Dispositive Power 593,000
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person 689,100
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (11) 10.02%
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12. Type of Reporting Person (See Instructions) IN
................................................................................
................................................................................
................................................................................
................................................................................
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Page 3 of 4 Pages
SCHEDULE 13G
ITEM 1.
(a) The name of the issuer is Planet Polymer Technologies, Inc. (the
"Corporation").
(b) The Corporation's executive office is located at 9985 Businesspark
Avenue, San Diego, CA 92131.
ITEM 2.
(a) The person filing this statement is Lorraine DiPaolo.
(b) Ms. DiPaolo's residence is 47 Plaza Street, Brooklyn, NY 11217.
(c) Ms. DiPaolo is a United States citizen.
(d) The Security is common stock, no par value per share.
(e) The CUSIP Number of the Security is 727044109.
ITEM 3.
Not applicable.
ITEM 4.
(a) Ms. DiPaolo is the beneficial owner of 689,100 shares of the
Security through her direct, personal ownership of 96,100 shares of the
Security and her position as President of The Benchmark Company, Inc.
("Benchmark"), a broker-dealer registered under Section 15 of the Securities
Exchange Act of 1934 and an investment adviser registered under the Investment
Advisers Act of 1940, in accordance with Section 240.13d-1(b)(1)(ii)(E), by
virtue of Benchmarks's investment discretion over accounts of its customers
that hold 593,000 shares.
(b) The amount of shares of the Security beneficially owned by Ms.
DiPaolo is 10.02% of the total outstanding shares of the Security.
(c) (i) Ms. DiPaolo has the sole power to vote or to direct the vote of
96,100 shares of the Security.
(ii) Ms. DiPaolo shares with Benchmark the power to vote or direct
the vote of 593,000 shares of the Security.
(iii) Ms. DiPaolo has the sole power to dispose, or to direct the
disposition, of 96,100 shares of the Security.
(iv) Ms. DiPaolo shares with Benchmark the power to dispose, or to
direct the disposition, of 593,000 shares of the Security.
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Page 4 of 4 Pages
ITEM 5.
Not applicable
ITEM 6.
No other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, more
than five percent of the securities.
ITEM 7.
Not applicable.
ITEM 8.
Not applicable.
ITEM 9.
Not applicable.
ITEM 10.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above 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.
December 21, 1999
_________________
Date
By /s/ Lorraine DiPaolo
_______________________________________
Lorraine DiPaolo
