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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
TIMELINE, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
887336 105
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(CUSIP Number)
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).
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CUSIP No. 887336 105 SCHEDULE 13G Page 2 of 4 Pages
(1) Names of Reporting Persons....................... Charles R. Osenbaugh
S.S. OR I.R.S. I.D. NOS. OF REPORTING PERSONS (OPTIONAL)
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP. (a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZEN OR PLACE OF ORGANIZATION.................... United States
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
(5) SOLE VOTING POWER.............. 332,037 shares
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(6) SHARED VOTING POWER............ 0
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(7) SOLE DISPOSITIVE POWER......... 332,037 shares
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(8) SHARED DISPOSITIVE POWER....... 0
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
332,037 shares
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(10) CHECK BOX IF AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES. [ ]
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9..... 10.5%
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(12) TYPE OF REPORTING PERSON............................ IN
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CUSIP NO. 887336 105 SCHEDULE 13G Page 3 of 4 Pages
<TABLE>
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Item 1. (a) Issuer.........................................Timeline, Inc.
(b) Principal Executive Offices....................3055 112th Avenue, N.E., Suite 106
..........................................Bellevue, WA. 98004
Item 2. (a) Person Filing..................................Charles R. Osenbaugh
(b) Principal Business Office/Residence............c/o Timeline, Inc.
..........................................3055 112th Avenue, N.E., Suite 106
..........................................Bellevue, WA 98004
(c) Citizenship....................................U. S. Citizen
(d) Title of Class of Securities...................Common Stock
(e) CUSIP Number...................................887336 105
Item 3. Statement Filed Pursuant to Rule 13d-1(b) or 13d-2(b) By:
Not Applicable.
Item 4. Ownership of More than Five Percent of Class:
(a) Amount beneficially owned........................................332,037 shares(1)
(b) Percentage of class..............................................10.5%(2)
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote.......................332,037 shares
(ii) shared power to vote or to direct the vote..................0
(iii)sole power to dispose of or direct disposition..............332,037 shares
(iv) shared power to dispose of or direct disposition............0
</TABLE>
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(1) This number reflects the total number of shares owned by the
reporting person as of the date of this filing. This number takes
into account all transactions effected by the reporting person or
on his behalf since the issuer first registered a class of equity
securities pursuant to section 12(d) of the Securities Exchange Act
of 1934 on January 18, 1995. As of such date, the reporting person
was the beneficial owner of 332,037 shares of common stock,
representing approximately 10.5% of the then outstanding shares.
This includes (i) 13,276 shares issuable under stock options held
by Mr. Osenbaugh which are exercisable within 60 days of the date
hereof, and (ii) 17,325 shares issuable upon exercise of warrants
granted to Mr. Calahan in connection with certain Company loan
guarantees. Does not include 15,015 shares held in an individual
retirement account belonging to Mr. Osenbaugh's spouse; for which
shares Mr. Osenbaugh disclaims beneficial interest. Pursuant to
section 16(a) of the Securities Exchange Act of 1934, the reporting
person has timely reported all such transactions on forms 3, 4
and/or 5.
(2) Calculated in accordance with Exchange Act Rule 13d-3 based on
3,171,554 shares of common stock outstanding (consisting of
3,140,953 shares outstanding as of May 15, 1997 and an aggregate of
30,601 shares subject to stock options and warrants that are
exercisable within 60 days of the date hereof).
Item 5. Ownership of Five Percent or Less of Class.
Not Applicable.
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CUSIP No. 887336 105 SCHEDULE 13G Page 4 of 4 Pages
Item 6. Ownership of More than Five Percent of Class on Behalf of Another.
Not Applicable.
Item 7. Identification and Classification of Subsidiary Which Acquired
Security Being Reported on By Parent Holding Company filing under
Rule 13d-1(b)(ii)(G).
Not Applicable.
Item 8. Identification and Classification of Members of Group Filing under
Rule 13d-1(b)(ii)(H).
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certification Pursuant to Rule 13d-1(b).
Not Applicable.
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: July 11, 1997
X /s/ Charles R. Osenbaugh
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Signature
Charles R. Osenbaugh / President, CEO, CFO
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Name/Title
