[1]
<PAGE>
OMB APPROVAL
OMB Number:3235-0145
Expires:December 31, 1997
Estimated average burden
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. *)
*
Styling Technology Corp
*
- -----------------------------------------------------------------
- ----------
Common Stock
*
863905105
*
Gruber & McBaine Capital Management
50 Osgood Place, Penthouse
San Francisco, CA 94133
(415) 981-2101
- -----------------------------------------------------------------
- ----------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
*
September 16, 1997
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 the 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.)
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 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).
SEC 1746 (12-91)
[2]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 2 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
GRUBER & McBAINE CAPITAL MANAGEMENT, L.L.C.
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
AF
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 183,300
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
183,300
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,300
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
OO
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
[3]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 3 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
GRUBER & McBAINE CAPITAL MANAGEMENT
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
AF
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 183,300
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
183,300
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,300
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
CO
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
[4]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 4 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
JON D. GRUBER
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
AF, PF
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 30,700
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 217,300
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 30,700
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
217,300
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
248,000
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.28
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
[5]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 5 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
J. PATTERSON McBAINE
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
AF, PF
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 12,000
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 217,300
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 12,000
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
217,300
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
229,300
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.81
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
[6]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 6 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
THOMAS O. LLOYD-BUTLER
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
AF
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 181,300
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
181,300
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
181,300
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.59
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
[7]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 7 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
LAGUNITAS PARTNERS, A California Limited Partnership
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
WC
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 114,200
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
114,200
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
114,200
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.89
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
[8]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 8 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
GMJ INVESTMENTS, L.P.
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
WC
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,000
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,000
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.05
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
[9]<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 9 of 15 Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
GRUBER & McBAINE CAPITAL MANAGEMENT INTERNATIONAL
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
AF
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 34,000
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
34,000
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,000
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.86
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
CO and IA
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 10 of 15 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock (the "Stock") of
Styling Technology Corp ("STYL"). The principal executive office
of STYL is located at 2390 E. Camelback Road, Suite 435, Phoenix,
AZ 85016.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in
Instruction C of Schedule 13D and, where applicable, their
respective places of organization, general partners, directors,
executive officers and controlling persons, and the information
regarding them, are as follows:
(a) Gruber and McBaine Capital Management, L.L.C. (LLC); Gruber
and McBaine Capital Management, a California corporation (GMCM);
Jon D. Gruber (Gruber); J. Patterson McBaine (McBaine); Thomas O.
Lloyd-Butler (TLB); Lagunitas Partners, L.P., a California limited
partnership (Lag); Gruber and McBaine Capital Management
International (Intl), a California corporation; GMJ Investments,
L.P., a California limited partnership (GMJ).
(b) The business address of LLC, GMCM, Gruber, McBaine, TLB, Lag,
Intl and GMJ is 50 Osgood Place, Penthouse, San Francisco, CA
94133.
(c) Gruber and McBaine are the sole directors and occupy all the
executive offices of GMCM and Intl, which are investment advisers.
Gruber, McBaine, and TLB are the shareholders of GMCM, and Gruber
and McBaine are the shareholders of Intl. Gruber and McBaine are
the Managers and Gruber, McBaine, TLB and GMCM are the members of
LLC, an investment adviser. Lag and GMJ are investment limited
partnerships. LLC is the general partner of Lag. GMCM, Gruber and
McBaine are the general partners of GMJ.
(d) During the last five years, none of such persons has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) During the last five years, none of such persons was 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) All such persons are citizens of the United States of America.
<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 11 of 15 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as
follows:
Purchaser Source of Funds Amount
GMCM Capital Under Management $537,397
LLC Capital Under Management $537,397
Gruber Personal Funds $245,175
McBaine Personal Funds $151,304
Lag Working Capital $703563
Intl Capital Under Management $224,063
ITEM 4. PURPOSE OF TRANSACTION.
The sole purpose of the purchase of the Stock reported herein was
and is for investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock of the persons named in Item
2 of this statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive Power
Name Number Percent Sole Shared Sole Shared
GMCM 183,300 4.64 0 183,300 0 183,300
Gruber 248,000 6.28 30,700 217,300 30,700 217,300
McBaine 229,3005.81 12,000 217,300 12,000 217,300
Lag 114,200 2.89 0 114,200 0 114,200
Intl 34,000 .86 0 34,000 0 34,000
GMJ 2,000 .05 0 2000 0 2000
TLB 181,300 4.59 0 181,300 0 181,300
LLC 183,300 4.64 0 183,300 0 183,300
<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 12 of 15 Pages
The persons filing this statement effected the following
transactions in the Stock on the dates indicated, and such
transactions are the only transactions in the Stock by the persons
filing this statement since May 1, 1997:
Purchase Number Price Broker
Name or Sale Date of Shares Per Share Used
Lag P 5/1/97 10,000 10.00 FBRC
GMCM P 5/1/97 4,500 10.00 FBRC
Gruber P 5/1/97 2,000 10.00 FBRC
Intl P 5/1/97 3,500 10.00 FBRC
GMCM P 9/11/97 3,000 15.13 FBRC
Gruber P 9/11/97 2,400 15,13 FBRC
McBaine P 9/11/97 600 15.13 FBRC
Lag P 9/15/97 14,000 15.13 FBRC
GMCM P 9/15/97 7,600 15.13 FBRC
McBaine P 9/15/97 3,400 15.13 FBRC
Gruber P 9/15/97 2,500 15.13 FBRC
Intl P 9/15/97 7,500 15.13 FBRC
Lag P 9/16/97 7,000 15.09 FBRC
Gruber P 9/16/97 3,500 15.09 FBRC
GMCM P 9/16/97 5,000 15.09 FBRC
McBaine P 9/16/97 2,000 15.09 FBRC
Lag P 9/17/97 10,500 15.13 FBRC
GMCM P 9/17/97 7,500 15.13 FBRC
Intl P 9/17/97 5,000 15.13 FBRC
Gruber P 9/17/97 4,000 15.13 FBRC
McBaine P 9/17/97 3,000 15.13 FBRC
Lag P 10/30/97 6,000 14.88 FBRC
GMCM P 10/30/97 4,500 14.88 FBRC
Gruber P 10/30/97 1,000 14.88 FBRC
Lag P 12/3/97 2,500 15.25 FBRC
GMCM P 12/3/97 5,000 15.25 FBRC
McBaine P 12/3/97 1,000 15.25 FBRC
Gruber P 12/3/97 1,500 15.25 FBRC
[Key to brokers used:]
FBRC Friedman Billings Ramsey
<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 13 of 15 Pages
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
Gruber, McBaine and GMCM are the general partners of GMJ, and LLC
is the general partner of Lag, pursuant to limited partership
agreements. These agreements provide to the general partners the
authority, among other things, to invest the funds of GMJ and Lag
in the Stock, to vote and dispose of those securities and to file
this statement on behalf of GMJ and Lag. Also pursuant to those
limited partnership agreements, the general partners of GMJ and Lag
are entitled to fees based on assets under management and realized
and unrealized gain, if certain conditions are met. Pursuant to
investment management agreements, GMCM, LLC and Intl are
authorized, among other things, to invest funds of their various
investment advisory clients, and to vote and dispose of those
securities. Such investment management agreements may be
terminated by either party on thirty days' notice, and provide for
fees payable to GMCM, LLC or Intl based on assets under management
and realized and unrealized gains, if certain conditions are met.
Pursuant to authority granted to GMCM orally and under a Power of
Attorney, GMCM is authorized, among other things, to invest funds
of various relatives and affiliates of Gruber and McBaine. Such
authority may be terminated at any time on notice and there are no
fees payable to GMCM for those services.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D
or 13G (previously filed).
<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 14 of 15
Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify
that the information set forth in this statement is true, complete
and correct.
DATED: December 8, 1997
Jon D. Gruber
J. Patterson McBaine
Thomas O. Lloyd-Butler
Gruber and McBaine Capital Management, by J. Patterson McBaine,
President
Gruber and McBaine Capital Management, L.L.C., by J. Patterson
McBaine, Manager
GMJ Investments, L.P., by J. Patterson McBaine, General Partner
Lagunitas Partners, A California Limited Partnership, by J.
Patterson McBaine, General Partner
Gruber and McBaine Capital Management International, by J.
Patterson McBaine, President
<PAGE>
SCHEDULE 13D
CUSIP No. 727900102 Page 15 of 15 Pages
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and
Exchange Commission (the "SEC") any and all statements on Schedule
13D or Schedule 13G (and any amendments or supplements thereto)
required under section 13(d) of the Securities Exchange Act of
1934, as amended, in connection with purchases by the undersigned
of securities of STYL. For that purpose, the undersigned hereby
constitute and appoint Gruber & McBaine Capital Management, a
California corporation, as their true and lawful agent and
attorney-in-fact, with full power and authority for and on behalf
of the undersigned to prepare or cause to be prepared, sign, file
with the SEC and furnish to any other person all certificates,
instruments, agreements and documents necessary to comply with
section 13(d) and section 16(a) of the Securities Exchange Act of
1934, as amended, in connection with said purchases, and to do and
perform every act necessary and proper to be done incident to the
exercise of the foregoing power, as fully as the undersigned might
or could do if personally present.
DATED: December 8, 1997.
Jon D. Gruber
J. Patterson McBaine
Thomas O. Lloyd-Butler
Gruber and McBaine Capital Management, by J. Patterson McBaine,
President
Gruber and McBaine Capital Management, L.L.C., by J. Patterson
McBaine, Manager
GMJ Investments, L.P., by J. Patterson McBaine, General Partner
Lagunitas Partners, A California Limited Partnership, by J.
Patterson McBaine, General Partner
Gruber and McBaine Capital Management International, by J.
Patterson McBaine, President
F:\DMS\M-CORP\INV_ADV\0113476.WP
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