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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Paravant Computer Systems, Inc.
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(Name of Issuer)
Common Stock, par value $.015 per share
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(Title of Class of Securities)
699376 10 9
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(CUSIP Number)
* 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 1 of 5 pages
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CUSIP No. 699376 10 9 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
William R. Craven
###-##-####
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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
United States Citizen
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5 SOLE VOTING POWER
NUMBER OF 511,982
SHARES ----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH -0-
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
511,982
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8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
511,982
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.4%
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 5 pages
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Paravant Computer Systems, Inc.
CUSIP No. 699376 10 9
Item 1(a). Name of Issuer:
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Paravant Computer Systems, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
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1615A West Nasa Boulevard
Melbourne, Florida 32901
Item 2(a). Name of Person Filing:
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William R. Craven
Item 2(b). Address of Principal Business Office or, if none,
Residence:
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c/o Paravant Computer Systems, Inc.
1615A West Nasa Boulevard
Melbourne, Florida 32901
Item 2(c). Citizenship:
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U.S.
Item 2(d). Title of Class of Securities:
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Common Stock
Item 2(e). CUSIP Number:
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699376 10 9
Item 3. If this statement is filed pursuant to Rules
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) [ ] Investment Company registered under section 8
of the Investment Company Act
(e) [ ] Investment Advisor registered under section
203 of the Investment Advisors 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
Page 3 of 5 pages
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Paravant Computer Systems, Inc.
CUSIP No. 699376 10 9
Endowment Fund; see section 240.13d-1(b)(1)
(ii)(F)
(g) [ ] Parent Holding Company, in accordance with
section 240.13d-1(b)(ii)(G)
(h) [ ] Group, in accordance with section 240.13d-1
(b)(1)(ii)(H)
Item 4. Ownership.
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(a) Amount Beneficially Owned:
511,982 shares(1)
(b) Percent of Class:
6.4%(2)
(c) Number of shares as to which such person has:
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(i) Sole power to vote or to direct the
vote:
511,982
(ii) Shared power to vote or direct the
vote:
-0-
(iii) Sole power to dispose or direct the
disposition of:
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(1) All share numbers reported in this Schedule 13G reflect a 4.471-to-1
reverse stock split effected by the Issuer in April 1995 and a 3-for-1 stock
split effected by the Issuer in July 1996. Includes (i) 156,387 shares owned
individually by Mr. Craven, (ii) 297,231 shares issuable upon exercise of
options obtained by Mr. Craven from UES Florida, Inc., an affiliate of the
Issuer (the "UES Option"), (iii) 53,333 shares issuable upon exercise of options
granted to Mr. Craven under the Issuer's Incentive Stock Option Plan and (iv)
5,031 shares issuable upon exercise of options granted to Mr. Craven under a
non-qualified stock option plan of the Issuer which has been terminated.
(2) Based on 8,002,710 shares outstanding at December 31, 1997 and 58,364
shares issuable upon exercise of options (other than the UES Options) held by
Mr. Craven.
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Paravant Computer Systems, Inc.
CUSIP No. 699376 10 9
511,982
(iv) Shared power to dispose or direct the
disposition of:
-0-
Item 5. Ownership of Five Percent or Less of a Class.
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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:
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Not Applicable.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by
the Parent Holding Company.
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Not Applicable.
Item 8. Identification and Classification of Members of the
Group.
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Not Applicable.
Item 9. Notice of Dissolution of Group.
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Not Applicable.
Item 10. Certification.
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Not Applicable.
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 13, 1998 /s/ William R. Craven
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William R. Craven
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