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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
AVERY COMMUNICATIONS, INC.*
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(Title of Class of Securities)
053605101
(CUSIP Number)
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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* 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).
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Waterside Capital Corporation 54-1694665
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ( )
NOT APPLICABLE
(b) ( )
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
VIRGINIA
________________________________________________________________________________
5 SOLE VOTING POWER
651,000
________________________________________________________
NUMBER OF
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY NONE
EACH ________________________________________________________
REPORTING
PERSON 7 SOLE DISPOSITIVE POWER
WITH
651,000
________________________________________________________
8 SHARED DISPOSITIVE POWER
NONE
________________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
651,000
________________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
________________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 6.64%. See footnote 1 to Item 4.
________________________________________________________________________________
12 TYPE OF REPORTING PERSON
IV
________________________________________________________________________________
Item 1.
(a) Name of Issuer: AVERY COMMUNICATIONS, INC.
(b) Address of Issuer's Principal Executive Offices:
190 SOUTH LASALLE STREET
CHICAGO, IL 60603
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Item 2.
(a) Name of Person Filing: WATERSIDE CAPITAL CORPORATION
(b) Address of Principal Business Office:
300 E. MAIN STREET
SUITE 1380
NORFOLK, VA 23510
(c) Citizenship: VIRGINIA
(d) Title of Class of Securities: COMMON STOCK, PAR VALUE $0.01
PER SHARE
(e) CUSIP Number: 053605101
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of the Act
(d) [X] Investment Company registered under section 8 of the Investment
Company Act
(e) [ ] Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974 or
Endowment Fund; see (S) 240-13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with (S) 240.13d-1(b)(ii)(G)
(Note: See Item 7)
(h) [ ] Group, in accordance with (S) 240.13d-1(b)(1)(ii)(H)
Item 4. Ownership
(a) Amount Beneficially Owned: 651,000 SHARES
(b) Percent of Class: 6.64% /1/
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 651,000.
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/1/ Based on 9,803,949 shares of Common Stock outstanding as of September 30,
1999.
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(ii) Shared power to vote or to direct the vote: NONE.
(iii) Sole power to dispose or to direct the disposition
of: 651,000.
(iv) Shared power to dispose or to direct the disposition
of: NONE.
Item 5. Ownership of Five Percent or Less of a Class:
NOT APPLICABLE.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
NOT APPLICABLE.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:
NOT APPLICABLE.
Item 8. Identification and Classification of Members of the Group:
NOT APPLICABLE.
Item 9. Notice of Dissolution of Group:
NOT APPLICABLE.
Item 10. Certification:
NOT APPLICABLE.
SIGNATURE
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.
Dated: February 16, 2000
WATERSIDE CAPITAL CORPORATION
By: J. Alan Lindauer
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Its:President
