WAVE TECHNOLOGIES INTERNATIONAL INC
SC 13G/A, 1999-02-03
MANAGEMENT SERVICES
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<PAGE>
 
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                        

                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934

                               (Amendment No. 4)*


                     Wave Technologies International, Inc.
                     -------------------------------------
                                (Name of Issuer)

                          Common Stock, Par Value $.50
                          ----------------------------
                         (Title of Class of Securities)


                                  94352Q-10-9
                      ----------------------------------
                                 (CUSIP Number)


                               December 31, 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)
                      [_]  Rule 13d-1(c)
                      [X]  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).
<PAGE>
 
- -------------------------------------------------------------------------------
CUSIP No.  94352Q-10-9                    13G                 Page 2 of 5 Pages
- -------------------------------------------------------------------------------


        1   NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
 
            Kenneth W. Kousky
- -------------------------------------------------------------------------------
        2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
 
            Not Applicable
- -------------------------------------------------------------------------------
        3   SEC USE ONLY
- -------------------------------------------------------------------------------
        4   CITIZENSHIP OR PLACE OF ORGANIZATION
 
            United States
- -------------------------------------------------------------------------------
                       5  SOLE VOTING POWER                            402,964*
 NUMBER OF SHARES      
   BENEFICIALLY        6  SHARED VOTING POWER                                0
   OWNED BY EACH          
 REPORTING PERSON      7  SOLE DISPOSITIVE POWER                       402,964*
       WITH
                       8  SHARED DISPOSITIVE POWER                           0
 
 ------------------------------------------------------------------------------
        9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
            402,964*
- -------------------------------------------------------------------------------
        10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
            SHARES (SEE INSTRUCTIONS)
 
            Not Applicable
- -------------------------------------------------------------------------------
        11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
            9.69%
- -------------------------------------------------------------------------------
        12  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
            IN
- -------------------------------------------------------------------------------

     *Includes 1,500 shares subject to currently exercisable options.
<PAGE>
 
- -------------------------------------------------------------------------------
CUSIP No.  94352Q-10-9                    13G                 Page 3 of 5 Pages
- -------------------------------------------------------------------------------


     Item 1(a).  Name of Issuer:
                 -------------- 
                 Wave Technologies International, Inc.

     Item 1(b).  Address of Issuer's Principal Executive Offices:
                 ----------------------------------------------- 
                 10845 Olive Boulevard, Suite 250
                 St. Louis, Missouri 63141

     Item 2(a).  Name of Person Filing:
                 --------------------- 
                 Kenneth W. Kousky

     Item 2(b).  Address of Principal Business Office:
                 ------------------------------------ 
                 10845 Olive Boulevard, Suite 250
                 St. Louis, Missouri 63141

     Item 2(c).  Citizenship:
                 ----------- 
                 United States

     Item 2(d).  Title and Class of Securities:
                 ----------------------------- 
                 Common Stock, $.50 par value

 
     Item 2(e).  CUSIP Number:
                 -------------
                 94352Q-10-9

     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).
 
<PAGE>
 
- -------------------------------------------------------------------------------
CUSIP No.  94352Q-10-9                    13G                 Page 4 of 5 Pages
- -------------------------------------------------------------------------------

 
                 (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)(G)
 
                 (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)
                           
                 (j)  [_]  Group, in accordance with (S)240.13d-1(b)(1)(ii)(J)


     Item 4.     Ownership:
                 --------- 

                 (a)    Amount Beneficially Owned:  402,964*
 
                 (b)    Percent of Class: 9.69%

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

                        (i)    Sole power to vote or to direct the vote:
                               402,964*

                        (ii)   Shared power to vote or to direct the vote: 0

                        (iii)  Sole power to dispose or to direct the
                               disposition of:  402,964*

                        (iv)   Shared power to dispose or to direct the
                               disposition of: 0             
<PAGE>
 
- -------------------------------------------------------------------------------
CUSIP No.  94352Q-10-9                    13G                 Page 5 of 5 Pages
- -------------------------------------------------------------------------------


     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.


*Includes 1,500 shares subject to currently exercisable options.



                                   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.

                                    February 3, 1999
                              _______________________________________
                                    Date


                               \s\  Kenneth W. Kousky
                              ---------------------------------------
                                    Kenneth W. Kousky


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