-----------------------------------
OMB APPROVAL
-----------------------------------
OMB Number: 3235-0145
Expires: August 31, 1991
Estimated average burden
hours per response........14.90
-----------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
AMENDMENT 1
UNDER THE SECURITIES EXCHANGE ACT OF 1934
MultiMedia Access Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
625444 10 4
(CUSIP Number)
Glenn A. Norem, Chief Executive Officer
2665 Villa Creek, Suite 200, Dallas, Texas 75234
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
9/28/97
(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 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 13d1(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).
<PAGE>
SCHEDULE 13D
- --------------------------- ----------------------------
CUSIP NO. 625444 10 4 PAGE 2 OF 5 PAGES
---------------- ----- --------
- --------------------------- ----------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
M. Douglas Adkins
- --------------------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 792,921
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON -------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
792,921
-------------------------------------------------------
10 SHARED DISPOSITIVE POSER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
792,921
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
ITEM 1. SECURITY AND ISSUER
Title of the class of equity securities: MMAC Common stock.
Address of Issuer: MultiMedia Access Corporation, 2665 Villa Creek, Suite 200,
Dallas, Texas 75234
ITEM 2. IDENTITY AND BACKGROUND
(a) Name: M. Douglas Adkins
(b) Residence or business address: 1601 Elm Street, # 3000, Dallas,
Texas 75201
(c) Present principal occupation or employment: Attorney, Gardere &
Wynne
(d) No
(e) No
(f) U.S.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Mr. Adkins acquired 36,364 shares of Common Stock of the Company in a
private placement in March of 1994. Mr. Adkins acquired an additional 72,750
shares in private purchases from three founders of the Company in April 1995. In
addition, Mr. Adkins acquired 143,257 shares of Common Stock in a private
placement dated December 1995. These shares were acquired with the personal
funds of Mr. Adkins.
Mr. Adkins also acquired 77,982 shares of Common Stock and 77,982
redeemable common stock purchase warrants upon the conversion of $358,720
aggregate amount of Convertible Debt and interest accrued thereon at the initial
public offering price in February 1997. Mr. Adkins also acquired 38,043 shares
of Common Stock and 38,043 redeemable common stock purchase warrants upon the
conversion of $175,000 principal amount of Convertible Bridge Debt at the
initial public offering price in February 1997.
Mr. Adkins holds warrants to purchase an additional 390,500 shares of
Common Stock of the Company at prices ranging from $1.00 per share to $3.00 per
share. Mr. Adkins was granted these warrants as an incentive to enter into
various financing transactions with the Company.
3
<PAGE>
ITEM 4. PURPOSE OF TRANSACTION
Mr. Adkins acquired the Common Stock and Warrants as a personal investment
and in connection with various financing transactions with the Company.
(a) As stated above, Common Stock underlying warrants to purchase an
aggregate of 506,525 shares of Common Stock are included in Mr.
Adkins' beneficial holdings.
(b) No plans (g) No changes
(c) No plans (h) No plans
(d) No plans (i) None
(e) No plans (j) None
(f) No plans
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Mr. Adkins beneficially owns 792,921 shares of Common Stock, or
10.0% of the outstanding Common Stock of the Company.
(b) Mr. Adkins has the sole power to vote 309,396 shares of Common
Stock of the Company, or 3.9% of the Common Stock of the Company.
Assuming the exercise of all warrants exercisable on or before
June 15, 1997, he holds sole voting power over 792,921 shares of
Common Stock, or 9.1% of the Common Stock of the Company.
(c) During the last sixty days, Mr. Adkins has sold 59,000 shares of
Common Stock of the Company and 6,000 redeemable Common Stock
purchase warrants of the Company.
(d) No such person exists.
(e) Not applicable.
4
<PAGE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.
SIGNATURES
-----------------
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.
BY:/s/ M. Douglas Adkins
------------------------
M. Douglas Adkins
5
