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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
LXR Biotechnology Inc.
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(Name of Issuer)
Common Stock ($.0001 par value)
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(Title of Class of Securities)
502468101
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(CUSIP Number)
Kenneth R. McGuire
3000 North Clybourn
Hangar 34
Burbank CA 91505
Tel 818 843-8242
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(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
December 31, 1996
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(Date of Event which Requires Filing 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/A, and is filing this
schedule because of Rule 13D/A-1(b)(3) or (4), check the following space [ ].
Check the following space if a fee is being paid with the statement [ ]
*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
disclosures 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).
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CUSIP No. 502468101 13D/A
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1 Name of Reporting Person Kenneth Robert McGuire
S.S. or I.R.S. Identification No. of Above Person (Intentionally omitted)
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds BK
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5 Check Box if Disclosure of Legal Proceedings is Required [ ]
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6 Citizenship or Place of Organization USA
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7 Sole Voting Power 2,034,284
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Number of Shares 8 Shared Voting Power
Beneficially Owned by -------------------------------------------------------
Reporting Person With
9 Sole Dispositive Power 2,034,284
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10 Shared Dipsositive Power
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11 Aggregate Amount Beneficially
Owned By Each Reporting Person 2,034,284
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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) 9.3%
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14 Type of Reporting Person IN
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CUSIP No. 502468101 Page 3 of 3 pages
Item 3. Source of Funds or Other Consideration
Since the filing of the Reporting Person's initial Schedule 13 D, he
purchased 500,000 shares of Common Stock for an aggregate purchase
price of $1,000,000. The source of funds was a margin loan from
Imperial Securities Corp.
Item 5. Interest in Securities of the Issuer
a. The Reporting Person has beneficial ownership of 2,026,284 shares
of Common Stock. In addition, he owns a warrant to purchase 8,000
shares of Common Stock, not previously reported, which he acquired
early in 1996 in connection with a bridge loan that he extended to the
Issuer. These holdings constitute 9.3% of the shares of Common Stock
outstanding.
b. The Reporting Person has sole power to vote and to dispose the
shares.
c. All transactions were purchases by the Reporting Person:
Date Shares Price Manner
12/31/96 500,000 $2.00 Private purchase
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: March 17, 1997
/s/ Kenneth R. McGuire
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Kenneth R. McGuire
