MICROELECTRONIC PACKAGING INC /CA/
SC 13G, 1998-06-05
SEMICONDUCTORS & RELATED DEVICES
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549
                                  SCHEDULE 13G

                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                            
                            (AMENDMENT NO.     )*  
                                           ----


                        MICROELECTRONIC PACKAGING, INC.
         -------------------------------------------------------------
                                (Name of Issuer)

                          COMMON STOCK, NO PAR VALUE
              ---------------------------------------------------
                        (Title of Class of Securities)

                                  594946105 
                   -----------------------------------------
                                 (CUSIP Number)

                                 MAY 29, 1998
            -------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule 
is filed:

     [_]  Rule 13d-1(b)
 
     [X]  Rule 13d-1(c)

     [_]  Rule 13d-1(d)

*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 the
disclosures provided in a prior cover page.

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).


POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED 
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY 
VALID OMB CONTROL NUMBER.

                               Page 1 of 6 Pages
<PAGE>
 
- -----------------------                                  
  CUSIP NO. 594946105                   13G              
- -----------------------                                  
 
- ------------------------------------------------------------------------------
 1    Names of Reporting Persons.
      I.R.S. Identification Nos. of above persons (entities only).

                                                COUNTERPOINT MASTER L.L.C.
- ------------------------------------------------------------------------------
 2    Check the Appropriate Box if a Member of a Group (See Instructions)

      (a) [_]
      (b) [_]
      
- ------------------------------------------------------------------------------
 3    SEC Use Only
 

- ------------------------------------------------------------------------------
 4    Citizenship or Place of Organization
      
      DELAWARE  

- ------------------------------------------------------------------------------
                     5    Sole Voting Power
     NUMBER OF            576,935    
 
      SHARES       -----------------------------------------------------------
                     6    Shared Voting Power
   BENEFICIALLY       
                                
     OWNED BY
                   -----------------------------------------------------------
       EACH          7    Sole Dispositive Power
                          
    REPORTING             576,935
 
      PERSON       -----------------------------------------------------------
                     8    Shared Dispositive Power
       WITH           
                          
- ------------------------------------------------------------------------------
 9    Aggregate Amount Beneficially Owned by Each Reporting Person
    
      576,935 
- ------------------------------------------------------------------------------
10    Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
      (See Instructions) 
 
- ------------------------------------------------------------------------------
11    Percent of Class Represented by Amount in Row (11)

      5.4%
- ------------------------------------------------------------------------------
12    Type Of Reporting Person (See Instructions)
  
      00 -- Limited liability company
- ------------------------------------------------------------------------------

                               Page 2 of 6 pages
<PAGE>
 
                         INSTRUCTIONS FOR SCHEDULE 13G

INSTRUCTIONS FOR COVER PAGE

(1)  Names and I.R.S. Identification Numbers of Reporting Persons--Furnish the
     full legal name of each person for whom the report is filed--i.e., each
     person required to sign the schedule itself--including each member of a
     group. Do not include the name of a person required to be identified in the
     report but who is not a reporting person. Reporting persons that are
     entities are also requested to furnish their I.R.S. identification numbers,
     although disclosure of such numbers is voluntary, not mandatory (see
     "SPECIAL INSTRUCTIONS FOR COMPLYING WITH SCHEDULE 13G" below).

(2)  If any of the shares beneficially owned by a reporting person are held as a
     member of a group and that membership is expressly affirmed, please check
     row 2(a). If the reporting person disclaims membership in a group or
     describes a relationship with other persons but does not affirm the
     existence of a group, please check row 2(b) [unless it is a joint filing
     pursuant to Rule 13d-1(k)(1) in which case it may not be necessary to check
     row 2(b)].

(3)  The third row is for SEC internal use; please leave blank.

(4)  Citizenship or Place of Organization--Furnish citizenship if the named
     reporting person is a natural person. Otherwise, furnish place of
     organization.

(5)-(9), (11) Aggregate Amount Beneficially Owned By Each Reporting Person, 
     Etc.--Rows (5) through (9) inclusive, and (11) are to be completed in
     accordance with the provisions of Item 4 of Schedule 13G. All percentages
     are to be rounded off to the nearest tenth (one place after decimal point).

(10) Check if the aggregate amount reported as beneficially owned in row (9)
     does not include shares as to which beneficial ownership is disclaimed
     pursuant to Rule 13d-4 (17 CFR 240.13d-4) under the Securities Exchange Act
     of 1934.

(12) Type of Reporting Person--Please classify each "reporting person" according
     to the following breakdown (see Item 3 of Schedule 13G) and place the
     appropriate symbol on the form:

                Category                                        Symbol
          Broker Dealer                                           BD
          Bank                                                    BK
          Insurance Company                                       IC
          Investment Company                                      IV
          Investment Adviser                                      IA
          Employee Benefit Plan, Pension Fund,
               or Endowment Fund                                  EP
          Parent Holding Company/Control Person                   HC
          Savings Association                                     SA
          Church Plan                                             CP
          Corporation                                             CO
          Partnership                                             PN
          Individual                                              IN
          Other                                                   OO

Notes:
     Attach as many copies of the second part of the cover page as are needed, 
one reporting person per page.

     Filing persons may, in order to avoid unnecessary duplication, answer items
on the schedules (Schedule 13D, 13G or 14D-1) by appropriate cross references to
an item or items on the cover page(s). This approach may only be used where the 
cover page item or items provide all the disclosure required by the schedule 
item. Moreover, such a use of a cover page item will result in the item becoming
a part of the schedule and accordingly being considered as "filed" for purposes 
of Section 18 of the Securities Exchange Act or otherwise subject to the 
liabilities of that section of the Act.

     Reporting persons may comply with their cover page filing requirements by 
filing either completed copier of the blank forms available from the Commission,
printed or typed facsimiles, or computer printed facsimiles, provided the 
documents filed have identical formats to the forms prescribed in the 
Commission's regulations and meet existing Securities Exchange Act rules as to 
such matters as clarity and size (Securities Exchange Act Rule 12b-12).

             SPECIAL INSTRUCTIONS FOR COMPLYING WITH SCHEDULE 13G

     Under Sections 13(d), 13(g), and 23 of the Securities Exchange Act of 1934 
and the rules and regulations thereunder, the Commission is authorized to 
solicit the information required to be supplied by this schedule by certain 
security holders of certain issuers.

                               Page 3 of 6 pages



<PAGE>
 
     Disclosure of the information specified in this schedule is mandatory, 
except for I.R.S. identification numbers, disclosure of which is voluntary. The 
information will be used for the primary purpose of determining and disclosing 
the holdings of certain beneficial owners of certain equity securities. This 
statement will be made a matter of public record. Therefore, any information 
given will be available for inspection by any member of the public.

     Because of the public nature of the information, the Commission can use it 
for a variety of purposes, including referral to other governmental authorities 
or securities self-regulatory organizations for investigatory purposes or in 
connection with litigation involving the Federal securities laws or other civil,
criminal or regulatory statutes or provisions. I.R.S. identification numbers, if
furnished, will assist the Commission in identifying security holders and, 
therefore, in promptly processing statements of beneficial ownership of 
securities.

     Failure to disclose the information requested by this schedule, except for 
I.R.S. identification numbers, may result in civil or criminal action against 
the persons involved for violation of the Federal securities laws and rules 
promulgated thereunder.

                             GENERAL INSTRUCTIONS

A.   Statements filed pursuant to Rule 13d-1(b) containing the information
     required by this schedule shall be filed not later than February 14
     following the calendar year covered by the statement or within the time
     specified in Rules 13d-1(b)(2) and 13d-2(c). Statements filed pursuant to
     Rule 13d-1(c) shall be filed within the time specified in Rules 13d-1(c),
     13d-2(b) and 13d-2(d). Statements filed pursuant to Rule 13d-1(d) shall be
     filed not later than February 14 following the calendar year covered by the
     statement pursuant to Rules 13d-1(d) and 13d-2(b).

B.   Information contained in a form which is required to be filed by rules
     under section 13(f)(15 U.S.C. 78m(f)) for the same calendar year as that
     covered by a statement on this schedule may be incorporated by reference in
     response to any of the items of this schedule. If such information is
     incorporated by reference in this schedule, copies of the relevant pages of
     such form shall be filed as an exhibit to this schedule.

C.   The item numbers and captions of the items shall be included but the text
     of the items is to be omitted. The answers to the items shall be so
     prepared as to indicate clearly the coverage of the items without referring
     to the text of the items. Answer every item. If an item is inapplicable or
     the answer is in the negative, so state.

ITEM 1.

     (a) Name of Issuer       Microelectronic Packaging, Inc.

     (b) Address of Issuer's Principal Executive Offices  9577 Chesapeake Drive
                                                          San Diego, California
                                                          92123

ITEM 2.

     (a) Name of Person Filing       CounterPoint Master LLC

     (b) Address of Principal Business Office 
         or, if none, Residence                      1301 Avenue of the Americas
                                                     40th Floor
                                                     New York, New York 10019

     (c) Citizenship                       Delaware limited liability company   

     (d) Title of Class of Securities      Common Stock, no par value

     (e) CUSIP Number                      594946105

ITEM 3.  IF THIS STATEMENT IS FILED PURSUANT TO (S)(S)240.13d-1(b) OR 240.13d-
         2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

     (a) [_]  Broker or dealer registered under section 15 of the Act (15 U.S.C.
              78o).

     (b) [_]  Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

     (c) [_]  Insurance company as defined in section 3(a)(19) of the Act (15 
              U.S.C. 78c).

     (d) [_]  Investment company registered under section 8 of the Investment
              Company Act of 1940 (15 U.S.C. 80a-8).

     (e) [_]  An investment adviser in accordance with (S)240.13d-
              1(b)(1)(ii)(E);

     (f) [_]  An employee benefit plan or endowment fund in accordance with
              (S)240.13d-1(b)(1)(ii)(F);

     (g) [_]  A parent holding company or control person in accordance with 
              (S)240.13d-1(b)(1)(ii)(G);

     (h) [_]  A savings association as defined in Section 3(b) of the Federal
              Deposit Insurance Act (12 U.S.C. 1813);

     (i) [_]  A church plan that is excluded from the definition of an 
              investment company under section 3(c)(14) of the Investment
              Company Act of 1940 (15 U.S.C. 80a-3); 

                               Page 4 of 6 pages
<PAGE>
 
     (j)  [_]  Group, in accordance with (S)240.13d-1(b)(1)(ii)(J).


ITEM 4. OWNERSHIP.

     Provide the following information regarding the aggregate number and 
percentage of the class of securities of the issuer identified in Item 1.

      (a) Amount beneficially owned: 576,935
                                     -------

      (b) Percent of class: 5.4%.
                            ----

      (c) Number of shares as to which the person has:

           (i)    Sole power to vote or to direct the vote 576,935.
                                                           -------

           (ii)   Shared power to vote or to direct the vote      .
                                                             -----

           (iii)  Sole power to dispose or to direct the disposition of 576,935.
                                                                        -------

           (iv)   Shared power to dispose or to direct the disposition of      .
                                                                          ----- 


     Instruction. For computations regarding securities which represent a right 
to acquire an underlying security see (S)240.13d-3(d)(1).

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

     If this statement is being filed to report the fact that as of the date 
hereof the reporting person has ceased to be the beneficial owner of more than 
five percent of the class of securities, check the following [_].

Instruction: Dissolution of a group requires a response to this item.

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

     If any other person is known to have the right to receive or the power to 
direct the receipt of dividends from, or the proceeds from the sale of, such 
securities, a statement to that effect should be included in response to this 
item and, if such interest relates to more than five percent of the class, such 
person should be identified. A listing of the shareholders of an investment 
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.  n/a

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE 
        SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

     If a parent holding company has filed this schedule, pursuant to Rule 13d-
1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the
identity and the Item 3 classification of the relevant subsidiary. If a parent
holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-
1(d), attach an exhibit stating the identification of the relevant subsidiary.
                                      n/a

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

     If a group has filed this schedule pursuant to (S)240.13d-1(b)(1)(ii)(J), 
so indicate under Item 3(j) and attach an exhibit stating the identity and Item 
3 classification of each member of the group. If a group has filed this schedule
pursuant to (S)240.13d-1(c) or (S)240.13d-1(d), attach an exhibit stating the 
identity of each member of the group.
                                      n/a

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

     Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to 
transactions in the security reported on will be filed, if required, by members 
of the group, in their individual capacity. See Item 5.
                                      n/a


ITEM 10. CERTIFICATION

     (a) The following certification shall be included if the statement is filed
pursuant to (S)240.13d-1(b):


                               Page 5 of 6 pages
<PAGE>
 
          By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were acquired and are held in
          the ordinary course of business and were not acquired and are not held
          for the purpose of or with the effect of changing or influencing the
          control of the issuer of the securities and were not acquired and are
          not held in connection with or as a participant in any transaction
          having that purpose or effect.

   (b)  The following certification shall be included if the statement is filed 
pursuant to (S)240.13d-1(c):

          By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were not acquired and are not
          held for the purpose of or with the effect of changing or influencing
          the control of the issuer of the securities and were not acquired and
          are not held in connection with or as a participant in any transaction
          having that purpose or effect.
          
                                   SIGNATURE

   After reasonable inquiry and to be best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

                                                    JUNE 3, 1998
                                       -----------------------------------------
                                                        Date

                                               /s/ ANDREW M. BROWN
                                       -----------------------------------------
                                                      Signature

                                           Andrew M. Brown / Managing Member
                                       -----------------------------------------
                                                      Name/Title


   The original statement shall be signed by each person on whose behalf the 
statement is filed or his authorized representative. If the statement is signed 
on behalf of a person by his authorized representative other than an executive 
officer or general partner of the filing person, evidence of the 
representative's authority to sign on behalf of such person shall be filed with 
the statement, provided, however, that a power of attorney for this purpose 
which is already on file with the Commission may be incorporated by reference. 
The name and any title of each person who signs the statement shall be typed or 
printed beneath his signature.

NOTE:  Schedules filed in paper format shall include a signed original and five 
copies of the schedule, including all exhibits. See (S)240.13d-7 for other 
parties for whom copies are to be sent.

   ATTENTION:  INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)


                               Page 6 of 6 pages


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