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SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 6)*
GLOBAL PAYMENT TECHNOLOGIES, INC. (Formerly, COIN BILL VALIDATOR, INC.)
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(Name of Issuer)
Common Stock, $.01 Par Value
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(Title of Class of Securities)
192583102
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(CUSIP Number)
Mr. Stephen Katz
Odyssey Financial Company
20 East Sunrise Highway, Suite 200, Valley Stream, New York 11581
(516) 887-0491
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
October 31, 1997
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(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 13d-1(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 1 OF 5 PAGES)
<PAGE>
SCHEDULE 13D
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CUSIP NO. 192583102 PAGE 2 OF 5 PAGES
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF
ABOVE PERSON
Odyssey Financial Company
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
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7 SOLE VOTING POWER
0
--------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.3%
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14 TYPE OF REPORTING PERSON*
PN
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 192583102 PAGE 3 OF 5 PAGES
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF
ABOVE PERSON
Stephen Katz
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
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 of America
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7 SOLE VOTING POWER
891,300
--------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 491,300
WITH --------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
891,300
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
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<PAGE>
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CUSIP NO. 192583102 PAGE 4 OF 5 PAGES
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This statement is filed pursuant to Rule 13d-2(a) under the Securities
Exchange Act of 1934, as amended, with respect to securities beneficially owned
by the reporting persons specified herein as of October 31, 1997 and amends the
Schedule 13D dated May 31, 1996, as amended August 26, 1996, as amended October
24, 1996, as amended January 21, 1997, as amended June 9, 1997, as amended
November 6, 1997 (the "Schedule 13D"). Except as set forth herein, the
information previously set forth in the Schedule 13D remains unchanged.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The number of Common Shares beneficially owned by Odyssey is
400,000, comprising 7.3% of the outstanding Common Shares.
The number of Common Shares beneficially owned by Mr. Katz is 891,300
comprising 15.1% of the outstanding Common Shares. Of such 891,300 Common Shares
reported, 400,000 Common Shares are issuable upon the exercise of immediately
exercisable stock options granted under the Company's 1994 and 1996 Stock Option
Plans.
(b) The number of Common Shares as to which Mr. Katz has sole voting
power is 891,300 (after giving effect to 400,000 Common Shares issuable upon the
exercise of immediately exercisable stock options granted under the Company's
1994 and 1996 Stock Option Plans), of which Odyssey has shared dispositive power
as to 400,000 Shares and Mr. Katz has shared dispositive power as to 400,000
Shares and sole dispositive power as to 491,300 Common Shares.
(c) Joan Vogel resigned as a Director of the Company effective
October 31, 1997. Pursuant to the terms of the Voting Trust Agreement dated May
23, 1996 (a copy of which was filed as Exhibit 7(c) to the Schedule 13D dated
May 31, 1996), and amended on August 30, 1996 (a copy of the amendment was filed
as Exhibit 7(a) to Amendment No. 2 to the Schedule 13D dated October 1, 1996),
entered into between Odyssey, Vogel, the Trust, and Mr. Katz, the Voting Trust
shall terminate on the date upon which Vogel ceases to be a Director of the
Company. The Voting Trust Agreement provided that Mr. Katz shall exercise sole
voting power over the Common Shares owned by Odyssey, Vogel, and the Trust. Upon
the termination of the Voting Trust Mr. Katz ceased to exercise sole voting
power over the 176,500 Common Shares owned by the Trust which were subject to
the Voting Trust, and 198,000 shares owned by Vogel which were subject to the
Voting Trust.
(d) Odyssey currently has the right to receive and the power to
direct the receipt of dividends from, and the proceeds from the sale of 400,000
Common Shares as to which Mr. Katz exercises sole voting power. Mr. Katz
currently (i) exercises sole voting power as to, and (ii) has the right to
receive and the power to direct the receipt of dividends from, and the proceeds
from the sale of, 491,300 Common Shares.
After reasonable inquiry and to the best of its or his knowledge and
belief, the undersigned each certifies that the information set forth in this
statement is true, complete and correct.
<PAGE>
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CUSIP NO. 192583102 PAGE 5 OF 5 PAGES
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Dated: December 17, 1997
ODYSSEY FINANCIAL COMPANY
By: /S/ STEPHEN KATZ
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Stephen Katz, General Partner
/S/ STEPHEN KATZ
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STEPHEN KATZ
