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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
OLD AMERICA STORES, INC.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
6795 03 102
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(CUSIP Number)
Robert I. Green
2875 N.E. 191st Street, Suite 701A
North Miami Beach, Florida 33180
(305) 937-2866
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 17, 1996
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(Date of Event which Required 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 this statement [ ]. (A fee
is not required only if the reporting 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.)
PAGE 1 OF 5 PAGES
THERE ARE NO EXHIBITS
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CUSIP NO. 6795 03 102
1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above
Person Robert I. Green .
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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 PF .
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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 .
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Number of 7. Sole Voting Power 175,000 .
Shares --------------------
Beneficially
Owned by Each 8. Shared Voting Power -0- .
Reporting --------------------
Person With
9. Sole Dispositive Power 175,000 .
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10. Shared Dispositive Power -0- .
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
175,000 .
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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) 4.9% .
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14. Type of Reporting Person IN .
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This amendment to Schedule 13D (the "Amendment") is filed as the
second amendment to the Statement on Schedule 13D, dated July 13, 1995 (the
"Schedule 13D"), filed on behalf of Robert I. Green (the "Reporting Person"),
relating to the Common Stock, par value $.01 per share (the "Common Stock"), of
Old America Stores, Inc., a Delaware corporation (the "Issuer"). This
Amendment reflects material changes in the Schedule 13D, such material changes
being more fully reflected in Items 3 and 5 below.
ITEM 1. SECURITY AND ISSUER.
This Statement relates to the Common Stock, par value $.01 per share
(the "Common Stock"), of Old America Stores, Inc., a Delaware corporation (the
"Issuer"). The Issuer's principal executive offices are located at 811 North
Collins Freeway, Highway 75 North, Howe, Texas 75459.
ITEM 2. IDENTITY AND BACKGROUND.
(a) Robert I. Green.
(b) 2875 N.E. 191st Street, Suite 701A, North Miami Beach, Florida
33180.
(c) The Reporting Person is a private investor. The Reporting
Person is the President and sole shareholder of Fran Ann Fashions, Inc., a
Florida corporation located at the same address as the Reporting Person ("Fran
Ann"). Fran Ann is engaged in the consulting business. The Reporting Person
is also the general partner of Starwood Group, L.P., a Delaware limited
partnership located at the same address as the Reporting Person ("Starwood").
Starwood is engaged in various investment activities.
(d) The Reporting Person has not been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) in the last 5
years.
(e) During the last 5 years, the Reporting Person has not been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to 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) United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
This Statement relates to the beneficial ownership of the Reporting
Person of 175,000 shares of Common Stock held in the Reporting Person's IRA
account. The source of funds for acquiring such shares of Common Stock was the
funds in the Reporting Person's IRA.
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ITEM 4. PURPOSE OF TRANSACTION.
This Statement reports the beneficial ownership by the Reporting
Person of less than 5 percent of the Issuer's outstanding Common Stock. The
purpose of the Reporting Person's acquisition of Common Stock was to acquire a
significant equity interest in the Issuer as an investment. The Reporting
Person intends to review his investment in the Common Stock on a regular basis
and, depending upon changes in his analysis of the Issuer, general economic and
market conditions, investment opportunities and other factors, including
applicable legal constraints, the Reporting Person may at any time determine to
increase or decrease the amounts of his investment in Common Stock. The
Reporting Person reserves the right to acquire additional Common Stock or to
dispose of some or all of the Common Stock beneficially owned by him either in
the open market, in privately negotiated transactions or otherwise, or to take
such other action or actions with respect to the Common Stock as he deems
advisable. The determination of the Reporting Person to seek to acquire
additional shares of Common Stock will depend on various factors including, but
not limited to, the availability of additional Common Stock for purchase at
what he considers to be reasonable prices, the terms and conditions available
for such purchases and other investment opportunities.
Except as described above, the Reporting Person has no plans or
proposals that would result in any actions specified in clauses (a) through (j)
of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the close of business on September 17, 1996, the
Reporting Person beneficially owned an aggregate of 175,000 shares of Common
Stock, which constituted approximately 4.9 percent of the 3,514,500 shares of
Common Stock outstanding on August 9, 1996, as reported in the Issuer's
Quarterly Report on Form 10-Q for the quarterly period ended July 13, 1996.
(b) The Reporting Person has the sole power to vote or direct the
vote, and the sole power to dispose or to direct the disposition of, all the
shares of Common Stock beneficially owned by him.
(c) The following table sets forth all transactions in Common
Stock effected by the Reporting Person during the past 60 days. All of such
transactions were open market sales effected through brokers.
<TABLE>
<CAPTION>
APPROXIMATE PRICE
NUMBER OF PER SHARE
NAME DATE SHARES SOLD (INCLUDING COMMISSIONS)
---- ---- ---------------- -----------------------
<S> <C> <C> <C>
IRA 09/17/96 16,000 $7 3/4
Fran Ann 09/17/96 15,000 $7 3/4
StarWood 09/17/96 103,000 $7 3/4
</TABLE>
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(d) Not applicable.
(e) September 17, 1996.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
The Reporting Person has no contracts, arrangements, or understandings
with any person with respect to any securities of the Issuer.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
None.
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.
September 27, 1996
/S/ROBERT I. GREEN
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Robert I. Green
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