UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1 (A) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2 (A)
(AMENDMENT NO. )
Innovative Clinical Solutions, Ltd.
--------------------------------------
(Name of Issuer)
COMMON STOCK, NO PAR VALUE PER SHARE
-------------------------------------
(Title of Class of Securities)
45767E107
----------------------------
(CUSIP Number)
W. JAMES HALL, 767 THIRD AVENUE, NEW YORK, NY 10017,
(212)888-6685
------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
October 10, 2000
--------------------------------------
(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.
1The 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 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>
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
EQSF Advisers, Inc.
(EIN 13-3354359)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(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
New York Corporation
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 5,416,740 (SEE ITEM 4)
------------------------------------------------------
8 SHARED VOTING POWER
SHARES
NONE
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 5,416,740 (SEE ITEM 4)
------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
NONE
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,416,740
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.14%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
MJ Whitman Advisers, Inc.
(EIN 13-3686379)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(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
New York Corporation
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 24,300 (SEE ITEM 4)
------------------------------------------------------
8 SHARED VOTING POWER
SHARES
NONE
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 24,300 (SEE ITEM 4)
------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
NONE
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,300
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.203%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
MJ Whitman Management, LLC
(EIN 13-4076744)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(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
New York Corporation
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 243,540 (SEE ITEM 4)
------------------------------------------------------
8 SHARED VOTING POWER
SHARES
NONE
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 243,540 (SEE ITEM 4)
------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
NONE
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
243,540
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Martin J. Whitman
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NA
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF NONE (SEE ITEM 4)
------------------------------------------------------
8 SHARED VOTING POWER
SHARES
NONE
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING NONE (SEE ITEM 4)
------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
NONE
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
-0-
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
ITEM 1. SECURITY AND ISSUER
This statement relates to the Common Stock, no par value per share, of
Innovative Clinical Solutions, Ltd. (the "Issuer"). The address of the Issuer's
principal executive offices is 10 Dorrance Street, Suite 400, Providence, RI
02903.
ITEM 2. IDENTITY AND BACKGROUND
The persons filing this statement are EQSF Advisers, Inc., a New York
corporation ("EQSF"), MJ Whitman Advisers, Inc. ("MJW"), MJ Whitman Management,
LLC ("MJWM") and Martin J. Whitman, all having their principal place of business
at 767 Third Avenue, New York, New York 10017 (EQSF, MJW, MJWM and Mr. Whitman
are hereinafter collectively referred to as "Registrants").
EQSF is an investment adviser registered under the Investment Advisers Act
of 1940 and provides investment advisory services to several registered mutual
funds. MJW is a registered investment adviser that provides investment advisory
services to individuals and institutions. MJWM is the general partner of
Agressive Conservative Investment Fund, a hedge fund investment vehicle. Mr.
Whitman, a United States citizen, is the Chairman of the Board of EQSF and
controls, with his adult children, a majority of the outstanding shares of EQSF
common stock. Mr. Whitman is also Chairman of the Board and Chief Executive
Officer of Danielson Holding Corporation, a Delaware corporation and an
insurance holding company ("DHC"), and M.J. Whitman, Inc., a New York
corporation and a registered broker-dealer, both of which have their principal
place of business at 767 Third Avenue, New York, NY 10017.
Mr. David M. Barse is the President and Chief Operating Officer and a
director of EQSF, DHC and MJW. Michael Carney is the Treasurer and Chief
Financial Officer of EQSF, DHC and MJW. W. James Hall is the Secretary and
General Counsel of EQSF, DHC and MJW. The principal place of business of each of
the foregoing is 767 Third Avenue, New York, New York 10017.
None of the Registrants nor any executive officer or director of EQSF has,
during the past five years, (a) been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), or (b) been 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.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The shares subject to this report were received by the Registrants pursuant
to a plan of reorganization in exchange for certain debentures of the Issuer.
ITEM 4. PURPOSE OF TRANSACTION
As of the effective date of the ICSL Prepackaged Plan (as defined in the
ICSL Form 8K filed October 3, 2000) the Registrants acquired 47.372% of the
issued and outstanding shares of Innovative Clinical Solutions, Ltd. in exchange
for certain debentures pursuant to the terms of the Prepackaged Plan, which the
Issuer believes gives the Registrants effective control of ICSL.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
EQSF is the beneficial owner of 5,416,740 shares of the Issuer, which
constitutes approximately 45.14% of the outstanding shares of the Issuer based
on the number of such shares outstanding according to the Issuer's report on
Form 8-K dated October 3, 2000. EQSF has the sole power to vote and to direct
the disposition of the shares of the Issuer. Mr. Whitman may be deemed to have
beneficial ownership of the shares of the Issuer beneficially owned by EQSF by
reason of his control of EQSF. Mr. Whitman disclaims beneficial ownership of
such shares for all other purposes. Third Avenue Value Trust on behalf of the
Third Avenue Value Fund Series, an investment company registered under the
Investment Company Act of 1940, has the right to receive dividends from, and the
proceeds from the sale of, 5,308,740 of the shares reported by EQSF and Sun
America Style Select Series Small-Cap Value Portfolio, an investment company
registered under the Investment Company Act of 1940, has the right to receive
dividends from, and the proceeds from the sale of, 108,000 of the shares
reported by EQSF. M.J. Whitman Management, LLC, is the beneficial owner of
243,540 shares of the Issuer, which constitutes approximately 2.03% of the
outstanding shares of the Issuer based on the number of such shares outstanding
according to the Issuer's report on Form 8-K dated October 3, 2000. M.J. Whitman
Management, LLC, has the sole power to vote and to direct the disposition of the
shares of the Issuer. Aggressive Conservative Investment Fund, L.P. has the
right to receive dividends from, and the proceeds from the sale of, 243,540 of
the shares reported by M.J. Whitman Management, LLC. M.J. Whitman Advisers,
Inc., is the beneficial owner of 24,300 shares of the Issuer, which constitutes
approximately 0.203% of the outstanding shares of the Issuer based on the number
of such shares outstanding according to the Issuer's report on Form 8-K dated
October 3, 2000. M.J. Whitman Advisers, Inc., has the sole power to vote and to
direct the disposition of the shares of the Issuer. Zelda Ross Trust has the
right to receive dividends from, and the proceeds from the sale of, 24,300 of
the shares reported by M.J. Whitman Advisers, Inc.
Other than the initial issuance, no transactions in the shares of the
Issuer were effected in the last 60 days.
<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
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.
October 10, 2000
----------------
Date
EQSF Advisers, Inc.
BY: /S/ MARTIN J. WHITMAN
-----------------------
Name: Martin J. Whitman
Title: Chairman, President and
Chief Executive Officer
MJ Whitman Advisers, Inc.
BY: /S/ MARTIN J. WHITMAN
-----------------------
Name: Martin J. Whitman
Title: Chairman, President and
Chief Executive Officer
MJ Whitman Management, LLC
BY: /S/ MARTIN J. WHITMAN
-----------------------
Name: Martin J. Whitman
Title: Chairman, President and
Chief Executive Officer
/S/ MARTIN J. WHITMAN
--------------------------------
Martin J. Whitman
