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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. *)
Conversion Technologies International, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
212546105
(CUSIP Number)
Ellyn Roberts
Shartsis Friese & Ginsburg LLP
One Maritime Plaza, 18th Floor
San Francisco, CA 94111
(415) 421-6500
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 24, 1999
(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(e), 13d-1(f) or 13d-1(g), check
the following box / /.
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) 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).
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.
SEC 1746 (10-97)
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CUSIP No. 212546105 13D Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
IRS IDENTIFICATION NO. OF ABOVE PERSON
Porter Capital Management Co.
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 17,786,680
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
17,786,680
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,786,980
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
71.9
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
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CUSIP No. 212546105 13D Page 3 of 9 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
IRS IDENTIFICATION NO. OF ABOVE PERSON
Jeffrey H. Porter
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, 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
United States
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 16,000
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 17,786,680
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 16,000
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
17,786,680
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,802,680
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
72.0
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
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CUSIP No. 212546105 13D Page 4 of 9 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
IRS IDENTIFICATION NO. OF ABOVE PERSON
Porter Partners, L. P.
- ---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 14,229,340
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
14,229,340
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,229,340
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
57.5
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
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CUSIP No. 212546105 13D Page 5 of 9 Pages
- ---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
IRS IDENTIFICATION NO. OF ABOVE PERSON
EDJ Limited.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- ---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bahamas
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 3,557,340
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,557,340
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,557,340
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.4
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
<PAGE>
CUSIP No. 212546105* 13D Page 6 of 9 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock (the "Stock") of
Conversion Technologies International, Inc. (the "Issuer"). The principal
executive office of the Issuer is located at 7 San Bartola Dr., St.
Augustine, FL 32086.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in Instruction
C of Schedule 13D and, where applicable, their respective places of
organization, general partners, directors, executive officers and
controlling persons, and the information regarding them, are as follows:
(a) Porter Capital Management Co., a California general partnership
("PCM"); Jeffrey H. Porter ("Porter"); Jerome Porter ("JP"); Porter
Partners, L.P., a California limited partnership ("PP"); and EDJ Limited, a
Bahamian International Business Corporation ("EDJ").
(b) The business address of PCM, Porter, JP and PP is 100 Shoreline,
Suite 211B, Mill Valley, California 94941. The business address of EDJ is
Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.
(c) Porter and JP are the sole general partners of PCM, which is an
investment adviser. Porter is the Managing General Partner of PCM; JP is
not active in the business of PCM. PCM is the sole general partner of PP,
which is an investment partnership. PCM is an investment adviser to EDJ.
(d) During the last five years, none of such persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, none of such persons was a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f) Porter and JP are citizens of the United States of America.
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CUSIP No. 212546105 13D Page 7 of 9 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as
follows:
Purchaser Source of Funds Amount
PP WC $ 800,000
EDJ WC $ 222,052
PCM* AF $1,022,052
Porter PF $ 16,000
* Represents shares purchased for the account of EDJ and PP.
ITEM 4. PURPOSE OF TRANSACTION.
The sole purpose of the acquisitions of the Stock reported herein was and
is for investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock by the persons named in Item 2 of
this statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive Power
Name Number Percent Sole Shared Sole Shared
PCM 17,786,680 71.9% -0 17,786,680 -0- 17,786,680
Porter 17,802,680 72.0% 16,000 17,802,680 16,000 17,802,680
JP -0- --- -0- -0- -0- -0-
PP 14,229,340 57.5% -0- 14,229,340 -0- 14,229,340
EDJ 3,557,340 14.4% -0- 3,557,340 -0- 3,557,340
The persons filing this statement effected the following transactions in the
Stock on the dates indicated, and such transactions are the only
transactions in the Stock by the persons filing this statement since August
20, 1999.
Purchase Number Price
Name or Sale Date of Shares Per Share
PP P 9/24/99 13,333,340 (1)
EDJ P 9/24/99 3,333,340 (1)
(1) PP purchased 666,667 shares, and EDJ purchased 166,667 shares, of
Series B Convertible Preferred Stock at a purchase price of $.60 per share.
Each share of Series B Preferred is convertible, at the holder's option,
into twenty shares of Common Stock (based on a conversion price of $0.03
per share).
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CUSIP No. 212546105 13D Page 8 of 9 Pages
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
PCM is a general partner of PP, pursuant to a limited partnership agreement
providing to PCM the authority, among other things, to invest the funds of
PP in the Stock, to vote and dispose of those securities and to file this
statement on behalf of PP. Pursuant to such limited partnership agreement,
the general partner is entitled to fees based on assets under management
and special profit allocations based on realized and unrealized gains and
losses, if certain conditions are met. PCM also acts as an investment
adviser to EDJ and, pursuant to an investment management agreement with
EDJ, is entitled to fees based on assets under management and special
profit allocations based on realized and unrealized gains and losses, if
certain conditions are met. By agreement among Porter and JP, Porter is
the Managing General Partner of PCM and JP does not have any power to vote
or dispose of any securities held by PP, EDJ or any other client of PCM.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Copy of previously filed Agreement Regarding Joint Filing of
Statement on Schedule 13D or 13G (including power of attorney).
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify
that the information set forth in this statement is true, complete and
correct.
DATED: October 21, 1999
EDJ Limited PORTER PARTNERS, L.P.,
A Bahamian International A California limited partnership
Business Corp.
By Porter Capital Management Co.
By Porter Capital Management Co.
/s/ Jeffrey H. Porter
/s/ Jeffrey H. Porter Jeffrey H. Porter
Jeffrey H. Porter Managing General Partner
Managing General Partner
PORTER CAPITAL MANAGEMENT CO.,
A California general partnership
/s/ Jeffrey H. Porter
Jeffrey H. Porter
Managing General Partner
/s/ Jeffrey H. Porter
Jeffrey H. Porter
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SCHEDULE 13D
CUSIP No. 212546105 Page 9 of 9 Pages
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and Exchange
Commission (the "SEC") any and all statements on Schedule 13D or Schedule
13G (and any amendments or supplements thereto) required under section 13(d)
of the Securities Exchange Act of 1934, as amended, in connection with
purchases by the undersigned of securities of Conversion Technologies
International, Inc. For that purpose, the undersigned hereby constitute and
appoint Porter Capital Management Co., a California general partnership, as
their true and lawful agent and attorney-in-fact, with full power and
authority for and on behalf of the undersigned to prepare or cause to be
prepared, sign, file with the SEC and furnish to any other person all
certificates, instruments, agreements and documents necessary to comply with
section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as
amended, in connection with said purchases, and to do and perform every act
necessary and proper to be done incident to the exercise of the foregoing
power, as fully as the undersigned might or could do if personally present.
DATED: October 19, 1999
EDJ Limited PORTER PARTNERS, L.P.,
A Bahamian International A California limited partnership
Business Corp.
By Porter Capital Management Co.
By Porter Capital Management Co.
/s/ Jeffrey H. Porter
/s/ Jeffrey H. Porter Jeffrey H. Porter
Jeffrey H. Porter Managing General Partner
Managing General Partner
PORTER CAPITAL MANAGEMENT CO.,
A California general partnership
/s/ Jeffrey H. Porter
Jeffrey H. Porter
Managing General Partner
/s/ Jeffrey H. Porter
Jeffrey H. Porter
M-CORP/IA-13/16 FILINGS/1005836
