SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
AMENDMENT NO. 1
JALATE LTD.
(Name of issuer)
COMMON STOCK
(Title of class of securities)
470145103
(CUSIP number)
John Drury, 1001 Fannin, Suite 4000
Houston, Texas 77002 (713) 512-6371
(Name, address and telephone number of person
authorized to receive notices and communications)
November 1, 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 the
statement. (A fee is not required only if the reporting person:
(1) has a pervious 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)
SCHEDULE 13D
CUSIP No. 470145103 Page 2 of 4 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JOHN DRURY
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (
(b) (
3 SEC USE ONLY
4 SOURCE OF FUNDS*
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
USA
7 SOLE VOTING POWER
NUMBER OF
SHARES 354,500
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 354,500
10 SHARED DISPOSITIVE POWER
3,000
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
357,500
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* (
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.3
14 TYPE OF REPORTING PERSON*
IN
Item 1. Security and Issuer
No material change to the original Schedule 13D filing to
which this Amendment relates.
Item 2. Identity and Background
No material change to the original Schedule 13D filing to
which this Amendment relates.
Item 3. Source and Amount of Funds or Other Consideration
No material change to the original Schedule 13D filing to
which this Amendment relates.
Item 4. Purpose of Transaction.
The securities of the Issuer were acquired by Drury in open
market transactions and privately negotiated transactions and
privately negotiated transactions for the purposes of investment.
Drury currently intends to review continuously his equity interest
in the Issuer and may or may not seek involvement in the Issuer's
affairs. Depending upon his evaluation of the Issuer's business and
prospects and upon future developments, Drury, or other entities that
may be deemed to be affiliates of Drury, may from time to time
purchase additional securities of the Issuer, dispose of all or a
portion of the securities held by such person, or cease buying or
selling shares. Any such additional purchases of the securities may
be in open market or privately negotiated transactions or otherwise.
Except as described in this Item 4, the Reporting Person has
no present plans or proposals which relate or would result in: (i)
the acquisition by any person of additional securities of the Issuer,
or the disposition of securities of the Issuer, (ii) an extraordinary
corporate transaction such as a merger, reorganization or liquidation,
involving the Issuer or any of its subsidiaries, (iii) a sale or
transfer of a material amount of assets of the Issuer or any of its
subsidiaries, (iv) any change in the present board of directors or
management of the Issuer, (v) any material change to the present
capitalization or dividend policy of the Issuer, (vi) any other
material change in the Issuer's business or corporate structure,
(vii) changes in the Issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the Issuer by any person, (viii) causing
a class of securities of the Issuer to be delisted from a national
securities exchange or to cease to be authorized to be quoted on an
inter-dealer quotation system of a registered national securities
association, (ix) a class of equity securities of the Issuer becoming
eligible for termination of registration pursuant to Section 12(g)
(4) of the Securities Exchange Act of 1934, as amended, or (x) any
actions similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
On November 1, 1998, Drury purchased 152,000 shares of the Issuer's
Common Stock in a privately negotiated transaction resulting in Drury
owning an aggregate of 354,500 shares of the Issuer's Common Stock.
Drury's spouse also owns 3,000 shares of the Issuer's Common Stock.
As of November 1, 1998, the number of shares of the Issuer's Common
Stock owned beneficially by Drury and his spouse is 7.3% of the
Issuer's Common Stock outstanding. Drury has the direct power both
to vote and to direct the disposition of the shares held by him while
his spouse has the direct power both to vote and to direct the
disposition of the shares held by her.
A description of the transactions in the Issuer's Common
Stock that were effected during the past 60 days by Drury is an follows
(there are no transactions by his spouse during the past 60 days):
Date Number of Shares Price per Share
11/1/98 152,000 0.625
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
The Reporting Person has no contract, arrangement,
understanding or relationship (legal or otherwise) with any person
with respect to securities of the Company, including, but not limited
to, transfer or voting of any of the securities, finder's fees, joint
ventures.
Item 7. Materials to be Filed as Exhibits.
None
Signature
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this filing is true,
correct and complete.
Dated December 11, 1998
___________________________
/S/ John Drury
