<PAGE>
OMB APPROVAL
---------------------
UNITED STATES OMB Number:
SECURITIES AND EXCHANGE COMMISSION 3235-0145
Washington, D.C. 20549 Expires: December
31, 1997
Estimated average
burden
hours per
response. . .14.90
---------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
- -------------------------------------------------------------------------------
INCO HOMES CORPORATION
- -------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK
- -------------------------------------------------------------------------------
(Title of Class of Securities)
453257 10 7
- -------------------------------------------------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ] . (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 17 pages
<PAGE>
- ------------------------- -------------------
CUSIP NO. 453257 10 7 13G PAGE 2 OF 17 PAGES
- ------------------------- -------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
IRA C. NORRIS
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
INAPPLICABLE
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 607,405
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
607,405
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
607,405
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
INAPPLICABLE
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
28.4%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 17 pages
<PAGE>
- ------------------------- -------------------
CUSIP NO. 453257 10 7 13G PAGE 3 OF 17 PAGES
- ------------------------- -------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NANCY D. NORRIS
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
INAPPLICABLE
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 607,405
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
607,405
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
607,405
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
INAPPLICABLE
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
28.4%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 17 pages
<PAGE>
- ------------------------- -------------------
CUSIP NO. 453257 10 7 13G PAGE 4 OF 17 PAGES
- ------------------------- -------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NORRIS LIVING TRUST DATED 2/17/89
(IRA C. NORRIS AND NANCY D. NORRIS AS CO-TRUSTEES)
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
INAPPLICABLE
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 607,405
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
607,405
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
607,405
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
INAPPLICABLE
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
28.4%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 17 pages
<PAGE>
Item 1.
(a) Name of Issuer - INCO HOMES CORPORATION
(b) Address of Issuer's Principal Executive Offices - 1282 West Arrow Highway,
Upland, CA 91786
Item 2.
(a) Name of Persons Filing -
IRA C. NORRIS
NANCY D. NORRIS
NORRIS LIVING TRUST DATED 2/17/89 (IRA C. NORRIS AND NANCY D. NORRIS AS
CO-TRUSTEES)
(b) Address of Principal Business Office or, if none, Residence - 1282 West
Arrow Highway, Upland, CA 91786
(c) Citizenship -
IRA C. NORRIS - United States of America
NANCY D. NORRIS - United States of America
NORRIS LIVING TRUST DATED 2/17/89 - California
(d) Title of Class of Securities - Common Stock
(e) CUSIP Number - 453257 10 7
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of the act
(d) [ ] Investment Company registered under section 8 of the Investment Company
Act
(e) [ ] Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the provisions
of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see (S)240.13d-l(b)(l)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with (S)240.13d-l(b)(ii)(G)
(Note: See Item 7)
(h) [ ] Group, in accordance with (S)240.13d-l(b)(l)(ii)(H)
Item 4. Ownership
(a) Amount Beneficially Owned -
IRA C. NORRIS - 607,405
NANCY D. NORRIS - 607,405
NORRIS LIVING TRUST DATED 2/17/89 - 607,405
(b) Percent of Class -
IRA C. NORRIS - 28.4%
NANCY D. NORRIS - 28.4%
NORRIS LIVING TRUST DATED 2/17/89 - 28.4%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote -
IRA C. NORRIS - 0
NANCY D. NORRIS - 0
NORRIS LIVING TRUST DATED 2/17/89 - 607,405
(ii) shared power to vote or to direct the vote -
IRA C. NORRIS - 607,405
NANCY D. NORRIS - 607,405
NORRIS LIVING TRUST DATED 2/17/89 - 0
Page 5 of 17 pages
<PAGE>
(iii) sole power to dispose or to direct the disposition of -
IRA C. NORRIS - 0
NANCY D. NORRIS - 0
NORRIS LIVING TRUST DATED 2/17/89 - 607,405
(iv) shared power to dispose or to direct the disposition of -
IRA C. NORRIS - 607,405
NANCY D. NORRIS - 607,405
NORRIS LIVING TRUST DATED 2/17/89 - 0
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [ ].
Instruction: Dissolution of a group requires a response to this item.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Institutional Equity Partners, LLC
Overland Opportunity Fund
Thomas Hantges
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Inapplicable
Item 8. Identification and Classification of Members of the Group
Inapplicable
Item 9. Notice of Dissolution of Group
Inapplicable
Item 10. Certification
By signing below we certify that, to the best of our knowledge and belief, the
securities referred to above were acquired in the ordinary course of business
and were not acquired for the purpose of and do not have the effect of changing
or influencing the control of the issuer of such securities and were not
acquired in connection with or as a participant in any transaction having such
purposes or effect.
Page 6 of 17 pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Date: February 1, 1999
Signature: /s/ Ira C. Norris
---------------------------
Name: Ira C. Norris
Signature: /s/ Nancy D. Norris
---------------------------
Name: Nancy D. Norris
NORRIS LIVING TRUST DATED 2/17/89
Signature: /s/ Ira C. Norris
---------------------------
Name: Ira C. Norris, as Co-Trustee
Signature: /s/ Nancy D. Norris
---------------------------
Name: Nancy D. Norris, as Co-Trustee
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
Page 7 of 17 pages
<PAGE>
EXHIBIT A
AGREEMENT FOR JOINT
FILING OF SCHEDULE 13G
Ira C. Norris and Nancy D. Norris, individually and as Trustees of the Norris
Living Trust Dated 2/17/89, agree that the Schedule 13G dated February 1, 1999
regarding Inco Homes Corporation has been filed on behalf of each of Ira C.
Norris and Nancy D. Norris, and the Norris Living Trust Dated 2/17/89.
Signature: /s/ Ira C. Norris
--------------------------------
Name: Ira C. Norris
Signature: /s/ Nancy D. Norris
--------------------------------
Name: Nancy D. Norris
NORRIS LIVING TRUST DATED 2/17/89
Signature: /s/ Ira C. Norris
--------------------------------
Name: Ira C. Norris, as Co-Trustee
Signature: /s/ Nancy D. Norris
--------------------------------
Name: Nancy D. Norris, as Co Trustee
Page 8 of 17 pages
<PAGE>
EXHIBIT B
SCHEDULE 13G FILED IN PAPER FORM
DATED FEBRUARY 11, 1994
OMB APPROVAL
-----------------------
UNITED STATES OMB Number: 3235-0145
SECURITIES AND Expires: December 31,
EXCHANGE 1997
COMMISSION
Washington, D.C. 20549 Estimated average
burden
hours per response..
.14.90
----------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No._______)*
INCO HOMES CORPORATION
- -------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK
- -------------------------------------------------------------------------------
(Title of Class of Securities)
453257 10 7
- -------------------------------------------------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [X] . (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 9 of 17 pages
<PAGE>
- ------------------------- -------------------
CUSIP NO. 453257 10 7 13G PAGE 2 OF 9 PAGES
- ------------------------- -------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norris, Ira C.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
Not applicable
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 412,063
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 2,029,505
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
412,063
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,029,505
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,441,568
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
30.58%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 17 pages
<PAGE>
- ------------------------- -------------------
CUSIP NO. 453257 10 7 13G PAGE 3 OF 9 PAGES
- ------------------------- -------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norris, Nancy D.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
Not applicable
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 15,938
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 2,029,505
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
15,938
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,029,505
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,045,443
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
25.62%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 17 pages
<PAGE>
- ------------------------- -------------------
CUSIP NO. 453257 10 7 13G PAGE 4 OF 9 PAGES
- ------------------------- -------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norris Living Trust Dated 2/17/89
(Ira C. Norris and Nancy D. Norris as Co-Trustees)
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
Not applicable
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 2,024,505
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
2,024,505
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,024,505
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
25.35%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 17 pages
<PAGE>
(Page 5 of 9 Pages)
Item 1(a). Name of Issuer:
Inco Homes Corporation
Item 1(b). Address of Issuer's principal Executive Offices:
1282 W. Arrow Highway
Upland , CA 91786
Item 2(a). Name of Person Filing:
Norris, Ira C.
Norris, Nancy D.
Norris Living Trust Dated 2/17/89 (Ira C. Norris and Nancy D. Norris as
Co-Trustees)
Item 2(b). Address of Issuer's principal Executive Offices:
1282 W. Arrow Highway
Upland, CA 91786
Item 2(c). Citizenship:
Norris, Ir C.: United States of America
Norris, Nancy D.: United States of America
Norris Living Trust Dated 2/17/89: California
Item 2 (d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
453257 10 7
Item 3. if this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
Not applicable
Page 13 of 17 pages
<PAGE>
(Page 6 of 9 Pages)
Item 4. Ownership
Norris, Ira C.
(a) Amount Beneficially Owned: 2,331,568 Shares:
-----------------
(b) percent of Class: 30.58%
------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 412,063.
--------
(ii) shared power to vote or to direct the vote:
2,029,505.
---------
(iii) sole power to dispose or to direct the disposition of:
412,063
-------
(iv) shared power to dispose or to direct the disposition of:
2,029,505
---------
Norris, Nancy D.
(a) Amount Beneficially Owned: 2,045,443 Shares:
-----------------
(b) percent of Class: 25.62%
------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 15,938.
-------
(ii) shared power to vote or to direct the vote:
2,029,505.
---------
(iii) sole power to dispose or to direct the disposition of:
15,938.
------
(iv) shared power to dispose or to direct the disposition of:
2,029,505
---------
Page 14 of 17 pages
<PAGE>
(Page 7 of 9 Pages)
Norris Living Trust Dated 2/17/89
(a) Amount Beneficially Owned: 2,024,505 Shares:
-----------------
(b) percent of Class: 25.35%
------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 2,024,505.
---------
(ii) shared power to vote or to direct the vote:
0
-
(iii) sole power to dispose or to direct the disposition of:
2,024,505
---------
(iv) shared power to dispose or to direct the disposition of:
0
-
Item 5. Ownership of Five Percent on behalf of Another Person.
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.
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Page 15 of 17 pages
<PAGE>
(Page 8 of 9 Pages)
Item 10. Certification.
Not Applicable
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:
Signature: /s/ Ira C. Norris
--------------------------------------
Name: Ira C. Norris
Signature: /s/ Nancy D. Norris
--------------------------------------
Name: Nancy D. Norris
NORRIS LIVING TRUST DATED 2/17/89
Signature: /s/ Ira C. Norris
--------------------------------------
Name: Ira C. Norris, as Co-Trustee
Signature: /s/ Nancy D. Norris
--------------------------------------
Name: Nancy D. Norris, as Co-Trustee
Page 16 of 17 pages
<PAGE>
(Page 9 of 9 Pages)
Exhibit A
Agreement for Joint
Filing of Schedule 13G
Ira C. Norris and Nancy D. Norris, individually and as Trustees of the
Norris Living Trust Dated 2/17/89, agree that the Schedule 13G dated February
11, 1994 regarding Inco Homes Corporation has been filed on behalf of each of
Ira C. Norris and Nancy D. Norris, and the Norris Living Trust Dated 2/17/89.
Signature: /s/ Ira C. Norris
------------------------------------
Name: Ira C. Norris
Signature: /s/ Nancy D. Norris
------------------------------------
Name: Nancy D. Norris
NORRIS LIVING TRUST DATED 2/17/89
Signature: /s/ Ira C. Norris
------------------------------------
Name: Ira C. Norris, as Co-Trustee
Signature: /s/ Nancy D. Norris
------------------------------------
Name: Nancy D. Norris, as Co-Trustee
Page 17 of 17 pages
