<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
PHYSICIANS RESOURCE GROUP, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
71941S101
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(CUSIP Number)
Robert Alpert
The Alpert Companies
Three Allen Center
333 Clay, Suite 4515
Houston, Texas 77002
(713) 336-4700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 23, 1998
- --------------------------------------------------------------------------------
(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(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 less than five percent of such class.
See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) 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 1 of 12 Pages
<PAGE> 2
- -----------------------------------------------------------------------------
(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
NOT APPLICABLE
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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
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
1,648,600
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,648,600
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,648,600
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
5.5%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 12 Pages
<PAGE> 3
- -----------------------------------------------------------------------------
(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) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
NOT APPLICABLE
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
1,638,400
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
1,638,400
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,638,400
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
5.5%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 12 Pages
<PAGE> 4
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
WILDWOOD CAPITAL COMPANY
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
NOT APPLICABLE
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
175,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
175,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
175,000
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.6%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 12 Pages
<PAGE> 5
- -----------------------------------------------------------------------------
(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) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
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(4) SOURCE OF FUNDS
NOT APPLICABLE
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
664,000 Includes 383,200 shares on loan to Markus
Investments, Inc.
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
664,000 Includes 383,200 shares on loan to Markus
Investments, Inc.
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
664,000 Includes 383,200 shares on loan to Markus
Investments, Inc.
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.2%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 12 Pages
<PAGE> 6
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
MARKUS INVESTMENTS, INC.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
NOT APPLICABLE
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
280,800
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
280,800
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
280,800
- -----------------------------------------------------------------------------
(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)
0.9%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT
Page 6 of 12 Pages
<PAGE> 7
- -----------------------------------------------------------------------------
(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
NOT APPLICABLE
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
799,400 Includes 705,400 shares on loan to James
Investments, Inc.
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
799,400 Includes 705,400 shares on loan to James
Investments, Inc.
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
799,400 Includes 705,400 shares on loan to James
Investments, Inc.
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.7%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT
Page 7 of 12 Pages
<PAGE> 8
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
JAMES INVESTMENTS, INC.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
NOT APPLICABLE
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
94,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
94,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
94,000
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.3%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT
Page 8 of 12 Pages
<PAGE> 9
- -----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
GLADYS ALPERT
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) SOURCE OF FUNDS
NOT APPLICABLE
- -----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
NONE
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
NONE
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
NONE
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
NONE
- -----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
NONE
- -----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
- -----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.0%
- -----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
IN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 12 Pages
<PAGE> 10
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D/A relates to shares of Common Stock (the "Shares") of
Physicians Resource Group, Inc. (the "Company"). The address of the Company is
Three Lincoln Centre, 5430 LBJ Freeway, Suite 1540, Dallas, Texas 75240.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Schedule is filed on behalf of (i) Mr. Robert Alpert, (ii)
Danro Corporation, (iii) Wildwood Capital Company, (iv) Markus Ventures, L.P.,
(v) James Ventures, L.P., (vi) Markus Investments, Inc., (vii) James
Investments, Inc., and (viii) Mrs. Gladys Alpert.
Mr. Robert Alpert is the sole shareholder and President of Danro
Corporation.
Danro Corporation is the Managing General Partner of (i) Wildwood
Capital Management, (ii) Markus Ventures, L.P., and (iii) 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.
Mrs. Gladys Alpert is the mother of Robert Alpert.
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 4515, Houston, Texas 77002.
(c) The principal business of each of Wildwood Capital Company, Markus
Ventures, L.P., James Ventures, L.P., James 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.
The principal occupation of Mrs. Gladys Alpert is as an investor.
(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. Wildwood Capital Company is a general partnership 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.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not applicable
Page 10 of 12 Pages
<PAGE> 11
ITEM 4. PURPOSE OF THE TRANSACTION.
The Group sold a portion of its shares in December 1998, as detailed in
Item 5(c) below. In addition, depending upon, among other things, the matters
referred to in this Item 4, the Group 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.
The Group believes that it will continue to advance proposals to
management and the Board of Directors of the Company suggesting the refocusing
of management's attention on the enhancement of shareholder value or proposals
to add to or replace current management of the Company. Although the Group has
no plans at present to seek control of the Company, the Group does consider it
reasonably likely that its activities in the future could include seeking
control of the Company, the acquisition of additional shares of the Company, or
seeking a change in the present Board of Directors or management of the Company.
In determining whether to purchase additional shares of the Company and in
formulating any plan or proposal to acquire control of the Company, the Group
intends to consider various factors, including the Company's financial
condition, business and prospects, other developments concerning the Company,
reaction of the Company to the Group's ownership of the Shares, price levels of
the Common Stock, other opportunities available to the Group, developments with
respect to the Group's business and general economic, money and stock market
conditions.
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.
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 29,853,355 Shares
outstanding as of August 7, 1998, as reflected in the Form 10Q of the Company
for the period ending June 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 1,638,400 Shares,
including (a) the 175,000 Shares owned directly by Wildwood Capital Company, (b)
the 383,200 Shares owned directly by Markus Ventures, L.P. and the 280,800
Shares owned by Markus Investments, Inc., and (c) the 705,400 Shares owned
directly by James Ventures, L.P. and the 94,000 Shares owned by James
Investments, Inc., (constituting approximately 0.6%, 2.2% and 2.7% of the Shares
outstanding, respectively).
(ii) Mrs. Gladys Alpert owns no shares as of this filing.
(iii) Mr. Alpert owns directly 10,200 Shares, constituting
approximately 0.1% 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 (i) above. Accordingly, Mr. Alpert beneficially owns 1,648,600
Shares, representing approximately 5.5% of the shares outstanding.
(b) Danro Corporation has the power to vote and dispose of the Shares
owned by (i) Wildwood Capital Company, (ii) Markus Ventures, L.P., and (iii)
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) On December 23, 1998, Robert Alpert sold 233,600 Shares at $0.36
per share. Also on December 23, 1998, Wildwood Capital Company sold 90,000
Shares at $0.36 per share. On December 30, 1998, Mrs. Gladys Alpert sold 11,400
Shares at $0.31 per share. All of these sales were effected through 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 11 of 12 Pages
<PAGE> 12
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.
January 11, 1999
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation.
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation as
Managing General Partner of
Wildwood Capital Company
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation as
Managing General Partner of
Markus Ventures, L.P.
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation as
Managing General Partner of
James Ventures, L.P.
/s/ ROBERT ALPERT
Robert Alpert, as
Chairman of Markus Investments, Inc.
/s/ ROBERT ALPERT
Robert Alpert, as
Chairman of James Investments, Inc.
/s/ ROBERT ALPERT
Robert Alpert
/s/ GLADYS ALPERT
Gladys Alpert
Page 12 of 12 Pages
<PAGE> 13
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
------- -----------
1 Joint Acquisition Statement
<PAGE> 1
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-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.
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation.
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation as
Managing General Partner of
Wildwood Capital Company
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation as
Managing General Partner of
Markus Ventures, L.P.
/s/ ROBERT ALPERT
Robert Alpert, as
President of Danro Corporation as
Managing General Partner of
James Ventures, L.P.
/s/ ROBERT ALPERT
Robert Alpert, as
Chairman of Markus Investments, Inc.
/s/ ROBERT ALPERT
Robert Alpert, as
Chairman of James Investments, Inc.
/s/ ROBERT ALPERT
Robert Alpert
/s/ GLADYS ALPERT
Gladys Alpert
Page 1 of 1
