UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(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)
GROW BIZ INTERNATIONAL, INC.
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(Name of Issuer)
COMMON STOCK, NO PAR VALUE
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(Title of Class of Securities)
399817 10 5
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(CUSIP Number)
G. THOMAS MACINTOSH II, ESQ.
MACKALL, CROUNSE & MOORE, PLC
1400 AT&T TOWER
901 MARQUETTE AVENUE
MINNEAPOLIS, MN 55402-2859
(612) 305-1438
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
DECEMBER 9, 1998
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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-l(e), 13d-1(f) or 13d-1(g), check the
following box. |X|
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.
(Cover page continued on next two pages)
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SCHEDULE 13D
<TABLE>
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CUSIP No. 399817 10 5
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<S> <C> <C>
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY)
1 K. Jeffrey Dahlberg
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
2 (b) [ ]
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3 SEC USE ONLY
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SOURCE OF FUNDS*
4 N/A
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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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CITIZENSHIP OR PLACE OF ORGANIZATION
6 United States
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NUMBER OF SOLE VOTING POWER
SHARES 7 1,799,975
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BENEFICIALLY SHARED VOTING POWER
OWNED BY 8 279,250
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EACH SOLE DISPOSITIVE POWER
REPORTING 9 1,799,975
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PERSON SHARED DISPOSITIVE POWER
WITH 10 279,250
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11 2,079,225
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 41.0%
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TYPE OF REPORTING PERSON*
14 IN
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
<TABLE>
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CUSIP No. 399817 10 5
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<S> <C> <C>
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY)
1 Ronald G. Olson
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
2 (b) [ ]
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3 SEC USE ONLY
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SOURCE OF FUNDS*
4 N/A
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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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CITIZENSHIP OR PLACE OF ORGANIZATION
6 United States
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NUMBER OF SOLE VOTING POWER
SHARES 7 1,231,855
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BENEFICIALLY SHARED VOTING POWER
OWNED BY 8 131,000
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EACH SOLE DISPOSITIVE POWER
REPORTING 9 1,231,855
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PERSON SHARED DISPOSITIVE POWER
WITH 10 131,000
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11 1,362,855
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 26.8%
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TYPE OF REPORTING PERSON*
14 IN
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D relates to the common stock, no par
value (the "Common Stock"), of Grow Biz International, Inc., a Minnesota
corporation (the "Company"). The address of the Company's principal executive
office is 4200 Dahlberg Drive, Minneapolis, Minnesota 55422.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed by K. Jeffrey Dahlberg ("KJD") and
Ronald G. Olson ("RGO"). KJD and RGO are collectively referred to herein as the
"Reporting Persons."
The following information relates to KJD:
(a) Name: K. Jeffrey Dahlberg
(b) Business Address: 4200 Dahlberg Drive,
Minneapolis, Minnesota 55422
(c) Principal Occupation: Chairman of the Board of Directors of
the Company
(d) Criminal Proceedings: None.
(e) Civil Proceedings: None
(f) Citizenship: United States
The following information relates to RGO:
(a) Name: Ronald G. Olson
(b) Business Address: 4200 Dahlberg Drive,
Minneapolis, Minnesota 55422
(c) Principal Occupation: President, Chief Executive Officer and
Director of the Company
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: United States
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
N/A
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons currently own the shares as set forth on the
cover pages hereof. The Reporting Persons also intend to acquire the Company
through a merger ("Merger") involving a new corporation or limited liability
company, all of the equity interests in which will initially be
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owned by the Reporting Persons ("Newco"), pursuant to which each shareholder of
Common Stock other than the Reporting Persons and certain of their affiliates
will receive cash in exchange for each share of Common Stock owned. The
Reporting Persons anticipate that the Company may cease to exist as part of the
transaction. Whether the Company ceases to exist or not, the Common Stock will
be delisted from The Nasdaq Stock Market. The Reporting Persons expect to
finance the proposed Merger with the proceeds of a loan from a financial
institution.
Such Merger has been proposed to the Company but has not yet been
approved by the Company or its shareholders.
The proposed transaction is subject to the negotiation and execution
of a definitive acquisition agreement. The final structure of the proposed
transaction may be different from that describe above.
Although the foregoing represents plans of the Reporting Persons
currently contemplated with respect to the Company, it should be noted that the
possible activities of the Reporting Persons are subject to change at any time
and there is no assurance that the Reporting Persons will actually be successful
in completing the above plans. In addition, the Reporting Persons may seek to
influence or control the Company through methods other than as stated above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of December 9, 1998, the Reporting Persons beneficially owned
the amounts of Common Stock respectfully set forth below. The percentage set
forth below represents the percentage of the outstanding shares of Common Stock
(based on 5,073,492 shares of Common Stock outstanding plus, in the case of RGO,
15,000 shares issuable upon the exercise of outstanding options in the name of
RGO which are exercisable within 60 days) represented by the shares of Common
Stock beneficially owned by the Reporting Persons.
Percentage of
Shares of Outstanding
Reporting Person Common Stock Common Stock
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KJD 2,079,225 41.0%
RGO 1,362,855 26.8%
As of December 9, 1998, the Reporting Persons beneficially owned an
aggregate of 3,442,080 (including 15,000 shares of Common Stock issuable upon
the exercise of options to RGO, which are exercisable within 60 days),
representing approximately 67.8% of the outstanding shares of Common Stock.
(b) The information set forth in items 7 through 11 of the cover pages
(pages 1-3) hereto is incorporated herein by reference.
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(c) KJD disposed of 10,000 shares of Common Stock by gift and for no
consideration on October 15, 1998. Other than such transaction, the Reporting
Persons have not undertaken any transactions with respect to the Common Stock or
any security derivative thereof in the past sixty (60) days.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Other than as disclosed herein, the Reporting Persons have no such
contracts, arrangements, understandings or relationships with respect to the
Common Stock.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Agreement, dated as of December 18, 1998, by and among the
signatories of this Statement with respect to its filing.
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
I hereby certify that the information set forth in this statement is true,
complete and correct.
Dated: December 18, 1998
/s/ K. Jeffrey Dahlberg
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K. Jeffrey Dahlberg
/s/ Ronald G. Olson
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Ronald G. Olson
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EXHIBIT INDEX
Exhibit Number Document
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1. Agreement, dated as of December 18, 1998, by and among
the signatories of this Statement with respect to its filing.
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EXHIBIT 1
AGREEMENT
This will confirm the agreement by and between both of the
undersigned that this Schedule 13D filed on or about this date with respect to
the beneficial ownership of the undersigned shares of the Common Stock of Grow
Biz International, Inc. is being filed on behalf of each of the persons named
below. This agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.
Dated: December 18, 1998
/s/ K. Jeffrey Dahlberg
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K. Jeffrey Dahlberg
/s/ Ronald G. Olson
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Ronald G. Olson
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