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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 23543
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
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(AMENDMENT NO .3)
AMPACE CORPORATION
(Name of Issuer)
COMMON STOCK, $.0001
(Title of Class of Securities)
032007106
(CUSIP Number)
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Check the following box if a fee is being paid with the statement: [ ]
(A fee is not required only if the filing 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.)
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).
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1. NAME OF REPORTING PERSON: S.S OR IRS IDENTIFICATION NOS.
Jay N. Taylor
###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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Number of Shares 5. SOLE VOTING POWER 388,300
Beneficially Owned ----------------------------------------------------
by Each Reporting
Person with 6. SHARED VOTING POWER 0
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7. SOLE DISPOSITIVE POWER 388,300
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8. SHARED DISPOSITIVE POWER 0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
388,300
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10. CHECK BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.38%
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12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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ITEM 1. (a) Ampace Corporation
(b) 201 Perimeter Park Road, Suite A Knoxville, Tennessee 37922
ITEM 2. (a) Jay N. Taylor
(b) 201 Perimeter Park Road, Suite A
Knoxville, Tennessee 37922
(c) USA
(d) Common Stock, $.0001
(e) 032007106
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-l(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
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(d) [ ] 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 Employment Retirement Income Security
Act of 1974 or Endowment fund; see Section
240.13d-l(b)(l)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-l(b)(ii)(G)(Note: See Item 7)
(h) [ ] Group, in accordance with Section 240.13d-l(b)(l)(ii)(H)
ITEM 4. OWNERSHIP
(a) 388,300
(b) 12.38%
(c) Number of shares as to which such person has
i sole power to vote or to direct the vote 388,300
ii shared power to vote or to direct the vote 0
iii sole power to dispose or to direct the disposition of
388,300
iv shared power to dispose or to direct the disposition of
0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following: [ ]
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.
/s/ Jay N. Taylor February 16, 1998
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Jay N. Taylor Date
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