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)
Katherine U. Sanders, 4014 Inverness
Houston, Texas 77019 (713) 250-4222
(Name, address and telephone number of person
authorized to receive notices and communications)
December 8, 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)
(Continued on following pages)
SCHEDULE 13D
CUSIP No. 470145103 Page 2 of 5 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
KATHERINE U. SANDERS
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) (
(b) (
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF, 00
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 1,219,150
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 1,219,150
10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,219,150
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.8%
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 Sanders in
open market transactions and privately negotiated transactions
for the purposes of investment. Sanders currently intends to
review continuously her equity interest in the Issuer and may
or may not seek involvement in the Issuer's affairs. Depending
upon her evaluation of the Issuer's business and prospects and
upon future developments, Sanders, or other entities that may be
deemed to be affiliates of Sanders, 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, Sanders purchased 608,000 shares of the
Issuer's Common Stock in a privately negotiated transaction,
and on December 8, 1998 Sanders sold 46,950 shares of the Issuer's
Common Stock in an open market transaction resulting in Sanders
owning an aggregate of 1,219,150 shares of the Issuer's Common Stock.
As of December 8, 1998, the number of shares of the Issuer's Common
Stock owned beneficially by Sanders is 24.8% of the Issuer's Common
Stock outstanding. Sanders 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
Sanders is as follows:
Date Purchase/Sale Number of Shares Price per Share
11-18-98 Purchase 608,000 .625
12-8-98 Sold 46,950 .375
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
The Reporting Person has signed a Limited Power of Attorney
to her broker, Don A. Sanders, dated June 15, 1997. Under the
agreements governing such accounts, the Reporting Person grants to
the Broker a power of attorney to sell or purchase securities on
such Reporting Person's behalf in such accounts. The Broker has
been designated as the sole attorney-in-fact for Reporting Person's
shares. To effect trades for discretionary accounts, Sanders
Morris Mundy (SMM) acts as an introducing and executing broker to
Broadcort Capital Corp. (BCC) which acts as clearing broker. BCC
also acts as custodian of shares maintained in discretionary
accounts, such as the Reporting Person's account.
The Broker may have from time to time purchased or directed the
purchase of Common Stock in margin account using borrowings that
are available because of maintenance in the applicable account of
marginable securities.
Except as described above, the Broker has no contact, 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 or joint ventures.
In accordance with Section 240.13d-7, the Broker expressly declares
that the filing of the Schedule shall not be construed as an
admission that he is, for the purposes of Section 13(d) or Section
13(g) of the Securities Exchange Act of 1934, as amended, the
beneficial owner an any Common Stock owned by the Reporting Person.
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 ____________, 1998
__________________________
/s/ Katherine U. Sanders
