<PAGE> 1
SCHEDULE 13D/A
(RULE 13D-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and
Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
INNOVATIVE VALVE TECHNOLOGIES, INC.
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(Name of Issuer)
Common Stock, par value $.001 per share
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(Title of Class of Securities)
45767J106
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(CUSIP Number)
Robert Alpert
The Alpert Companies
Three Allen Center
333 Clay, Suite 4150
Houston, Texas 77002
(713) 336-4700
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 19, 1999
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(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(e), 13d-1(f), or 13d-1(g), check the
following box.[ ]
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits.
See Rule 13d-7(b) for other parties to whom copies are to be sent.
* 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> 2
CUSIP No. 45767J106 Page 2 of 10
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
ROBERT ALPERT
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(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 ITEM 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
1,269,700
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,269,700
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,269,700
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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)
13.1%
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(14) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP No. 45767J106 Page 3 of 10
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
DANRO CORPORATION
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
WC
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
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NUMBER OF (7) SOLE VOTING POWER
1,191,700
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,191,700
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,191,700
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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)
12.3%
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(14) TYPE OF REPORTING PERSON **
CO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP No. 45767J106 Page 4 of 10
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
MARKUS VENTURES, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
WC
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
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NUMBER OF (7) SOLE VOTING POWER
70,000
--------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
70,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
70,000
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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)
0.7%
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(14) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
CUSIP No. 45767J106 Page 5 of 10
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
MARKUS INVESTMENTS, INC.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
WC
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
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NUMBER OF (7) SOLE VOTING POWER
70,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
70,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
70,000
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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)
0.7%
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(14) TYPE OF REPORTING PERSON **
CO
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** SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 6
CUSIP No. 45767J106 Page 6 of 10
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
JAMES VENTURES, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
WC
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
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NUMBER OF (7) SOLE VOTING POWER
1,121,700
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,121,700
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,121,700
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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)
11.6%
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(14) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 7
CUSIP No. 45767J106 Page 7 of 10
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
JAMES INVESTMENTS, INC.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
WC
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
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NUMBER OF (7) SOLE VOTING POWER
450,700
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
450,700
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
450,700
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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)
4.7%
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(14) TYPE OF REPORTING PERSON **
CO
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** SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 8
CUSIP No. 45767J106 Page 8 of 10
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D/A relates to shares of Common Stock, par value $0.001 per
share (the "Shares") of Innovative Valve Technologies, Inc., (the "Company").
The address of the principal executive offices of the Company is 2 Northpoint
Drive, Suite 300, Houston, Texas 77060.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Schedule is filed on behalf of (i) Mr. Robert Alpert, (ii)
Danro Corporation, (iii) Markus Ventures, L.P., (iv) James Ventures, L.P., (v)
Markus Investments, Inc., and (vi) James Investments, Inc.
Mr. Robert Alpert is the sole shareholder and President of
Danro Corporation.
Danro Corporation is the Managing General Partner of (i)
Markus Ventures, L.P. and (ii) James Ventures, L.P.
Markus Ventures, L.P. is the sole shareholder of Markus
Investments, Inc. Mr. Robert Alpert is the Chairman of Markus
Investments, Inc.
James Ventures, L.P. is the sole shareholder of James
Investments, Inc. Mr. Robert Alpert is the Chairman of James
Investments, Inc.
The reporting entities and individuals (collectively, the
"Group") are making a joint filing pursuant to Rule 13d-1(f)
because, by reason of the relationship as described herein,
they may be deemed to be a "group" within the meaning of
Section 13(d)(3) with respect to acquiring, holding and
disposing of Shares.
(b) The address of the principal place of business and principal office
of each person referred to in paragraph (a) is Three Allen Center, 333 Clay,
Suite 4150, Houston, Texas 77002.
(c) The principal business of each of Markus Ventures, L.P., James
Ventures, L.P., Markus Investments, Inc., and James Investments, Inc. is that of
a private investment fund, engaged in the purchase and sale of securities for
investment for its own account.
The principal occupation of Mr. Alpert is as President of
Danro Corporation, Managing General Partner of affiliated
partnerships.
(d) None of the persons referred to in paragraph (a) above has, during
the last five years, been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) None of the persons referred to in paragraph (a) above has, during
the last five years, 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) Each individual referred to in paragraph (a) above is a citizen of
the United States. Danro Corporation, Markus Investments, Inc. and James
Investments, Inc. are each a corporation formed under the laws of the State of
Texas. Markus Ventures, L.P. and James Ventures, L.P. are limited partnerships
formed under the laws of the State of Texas.
<PAGE> 9
CUSIP No. 45767J106 Page 9 of 10
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The net investment cost (including commissions) is $5,413,054 for
1,269,700 Shares beneficially owned by Mr. Alpert. The Shares purchased by the
Group were purchased with the investment capital of the respective member of the
Group.
ITEM 4. PURPOSE OF THE TRANSACTION.
The Group has acquired Shares of the Company for investment purposes
only, in the ordinary course of business. In addition, in the ordinary course of
their business, the Group may acquire further Shares from time to time and may
attempt to sell all or a portion of its Shares from time to time in the open
market, in brokers' transactions, in transactions directly with market makers,
in privately negotiated transactions, or a combination of the foregoing.
Other than as set forth above, none of the Reporting Persons has any
plans or proposals which relate to, or could result in, any of the matters
referred to in paragraphs (b) through (j), inclusive, of Item 4 of Schedule
13D/A. Such entities and persons may, at any time and from time to time, review
or reconsider their position with respect to any of such matters, but have no
present intention of doing so.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The approximate aggregate percentage of Shares reported
beneficially owned by each person herein is based on 9,664,562
shares outstanding as of November 13, 1998, as reflected in
the Form 10Q of the Company for the period ending September
30, 1998.
As of the date hereof:
(i) Danro owns directly no Shares. By reason of the
provisions of Rule 13d-3 of the Act, Danro may be
deemed to own beneficially 1,191,700 Shares,
constituting approximately 12.3% of the Shares
outstanding. Danro's shares include (a) the 70,000
Shares owned by Markus Investments, Inc., (b) the
671,000 Shares owned directly by James Ventures, L.P.
and (c) the 450,700 Shares owned by James
Investments, Inc., (constituting approximately 0.7%,
6.9% and 4.7% of the Shares outstanding,
respectively).
(ii) Mr. Alpert owns directly 78,000 Shares, constituting
approximately 0.8% of the Shares outstanding. Mr.
Alpert, by reason of Rule 13d-3 of the Act, may be
deemed to beneficially own the Shares owned by each
of the entities in above. Accordingly, Mr. Alpert
beneficially owns 1,269,700 Shares, representing
approximately 13.1% of the shares outstanding.
(b) Danro Corporation has the power to vote and dispose of the
Shares owned by (i) Markus Ventures, L.P., and (ii) James
Ventures, L.P., which power may be exercised by the managing
general partner of each such Partnership. Mr. Alpert has
voting and investment power over Shares managed by Danro
Corporation. Mr. Alpert has the sole voting and dispositive
powers over Shares owned directly.
(c) The only transactions in the Shares, effected by the Group
during the past 60 days were the following purchases:
<TABLE>
<CAPTION>
Group Member Date Number of Shares Price per Share
------------ ---- ---------------- ---------------
<S> <C> <C> <C>
James Ventures, L.P. 03/12/99 7,500 $ 1.5625
James Ventures, L.P. 03/19/99 250,000 $ 1.5625
James Ventures, L.P. 03/19/99 250,000 $ 1.5675
</TABLE>
All such transactions were effected through the NASDAQ or in
brokers' transactions.
(d) No person other than each respective record owner referred to
herein of Shares is known to have the right to receive or the
power to direct the receipt of dividends from or the proceeds
of sale of such Shares.
<PAGE> 10
CUSIP No. 45767J106 Page 10 of 10
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
Other than the agreement described in Item 7 below, there are no
contracts, understandings or relationships (legal or otherwise) among the
persons named in Item 2 hereof and between such persons or any person with
respect to any securities of the Company, including but not limited to transfer
or voting of any of the Shares, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or loss,
or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
There is filed herewith as Exhibit 1 a written agreement relating to
the filing of joint acquisition statements, as required by Rule 13d-1(f)(1) of
the Securities Act of 1934.
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
March 29, 1999
DANRO CORPORATION
By: /s/ ROBERT ALPERT
-------------------------------------------
Robert Alpert, President
MARKUS VENTURES, L.P.
JAMES VENTURES, L.P.
By: DANRO CORPORATION,
as their Managing General Partner
By: /s/ ROBERT ALPERT
-------------------------------------------
Robert Alpert, President
MARKUS INVESTMENTS, INC.
JAMES INVESTMENTS, INC.
By: /s/ ROBERT ALPERT
-------------------------------------------
Robert Alpert, Chairman
/s/ ROBERT ALPERT
-----------------------------------------------
Robert Alpert, Individually
<PAGE> 1
CUSIP No. 45767J106 Exhibit 1, Page 1 of 1
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D/A-1(f)1
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D/A, as amended, is filed on behalf of each of the undersigned and
that all subsequent amendments to this statement on Schedule 13D/A, as amended,
shall be filed on behalf of each of the undersigned without the necessity of
filing additional joint acquisition statements. The undersigned acknowledge that
each shall be responsible for the timely filing of such amendments, and for the
completeness and accuracy of the information concerning him or it contained
therein, but shall not be responsible for the completeness and accuracy of the
information concerning the other, except to the extent that he or it knows or
has reason to believe that such information is inaccurate.
DANRO CORPORATION
By: /s/ ROBERT ALPERT
-------------------------------------------
Robert Alpert, President
MARKUS VENTURES, L.P.
JAMES VENTURES, L.P.
By: DANRO CORPORATION,
as their Managing General Partner
By: /s/ ROBERT ALPERT
-------------------------------------------
Robert Alpert, President
MARKUS INVESTMENTS, INC.
JAMES INVESTMENTS, INC.
By: /s/ ROBERT ALPERT
-------------------------------------------
Robert Alpert, Chairman
/s/ ROBERT ALPERT
-----------------------------------------------
Robert Alpert, Individually
