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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
POORE BROTHERS, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
732813100
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(CUSIP Number)
David A. Fisher
Fisher Thurber LLP
4225 Executive Square, Suite 1600
La Jolla, CA 92037
(858) 535-9400
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
October 7, 1999
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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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-7(b) 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).
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CUSIP No. 732813100
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(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only)
PATE FOODS CORPORATION
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
O
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(5) Check 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
DELAWARE
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Number of Shares (7) Sole Voting
Beneficially Owned Power 0
by Each Reporting --------------------------------------------------
Person With: (8) Shared Voting
Power 4,800,000
--------------------------------------------------
(9) Sole Dispositive
Power 0
--------------------------------------------------
(10) Shared Dispositive
Power 4,800,000
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
4,800,000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
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(13) Percent of Class Represented by Amount in Row (11)
38
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(14) Type of Reporting Person (See Instructions)
CO
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2
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CUSIP No. 732813100
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(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only)
AMERICAN PACIFIC FINANCIAL CORPORATION
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
O
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(5) Check 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
CALIFORNIA
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Number of Shares (7) Sole Voting
Beneficially Owned Power 0
by Each Reporting --------------------------------------------------
Person With: (8) Shared Voting
Power 0
--------------------------------------------------
(9) Sole Dispositive
Power 0
--------------------------------------------------
(10) Shared Dispositive
Power 0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
4,800,000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
38
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(14) Type of Reporting Person (See Instructions)
CO
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3
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CUSIP No. 732813100
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only)
CAPITAL FOODS LLC
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
O
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(5) Check 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
DELAWARE
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Number of Shares (7) Sole Voting
Beneficially Owned Power 0
by Each Reporting --------------------------------------------------
Person With: (8) Shared Voting
Power 0
--------------------------------------------------
(9) Sole Dispositive
Power 0
--------------------------------------------------
(10) Shared Dispositive
Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
4,800,000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
38
- -------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions)
OO
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4
<PAGE>
CUSIP No. 732813100
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only)
LARRY R. POLHILL
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
O
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(5) Check 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
CALIFORNIA
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Number of Shares (7) Sole Voting
Beneficially Owned Power 0
by Each Reporting --------------------------------------------------
Person With: (8) Shared Voting
Power 2,400,000
--------------------------------------------------
(9) Sole Dispositive
Power 0
--------------------------------------------------
(10) Shared Dispositive
Power 2,400,000
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
4,800,000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
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(13) Percent of Class Represented by Amount in Row (11)
38
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(14) Type of Reporting Person (See Instructions)
IN
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5
<PAGE>
CUSIP No. 732813100
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only)
BRADLEY J. CRANDALL
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
O
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(5) Check 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
COLORADO
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Number of Shares (7) Sole Voting
Beneficially Owned Power 0
by Each Reporting --------------------------------------------------
Person With: (8) Shared Voting
Power 2,400,000
--------------------------------------------------
(9) Sole Dispositive
Power 0
--------------------------------------------------
(10) Shared Dispositive
Power 2,400,000
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
4,800,000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
38
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(14) Type of Reporting Person (See Instructions)
IN
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6
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ITEM 1. SECURITY AND ISSUER.
Common Stock
Poore Brothers, Inc.
3500 South La Cometa Drive
Goodyear, Arizona 85338
ITEM 2. IDENTITY AND BACKGROUND.
Pate Foods Corporation:
(a) Pate Foods Corporation, a Delaware corporation
(b) 1455 Gardner Street, South Beloit, Illinois 60180
(c) n/a
(d) Criminal convictions: None
(e) Civil Orders: None
American Pacific Financial Corporation:
(a) American Pacific Financial Corporation, a California corporation
(b) 225 West Hospitality Lane, Suite 201, San Bernardino, California
92408
(c) n/a
(d) Criminal Convictions: None
(e) Civil Orders: None
Capital Foods, LLC:
(a) Capital Foods, LLC, a Delaware limited liability company
(b) 7380 S. Eastern Street, Suite 150. Las Vegas, Nevada 89123
(c) n/a
(d) Criminal Convictions: None
(e) Civil Orders: None
7
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Larry R. Polhill:
(a) Larry R. Polhill
(b) 225 West Hospitality Lane, Suite 201, San Bernardino, California
92408
(c) Executive, Business Financing
American Pacific Financial Corporation
225 West Hospitality Lane, Suite 201
San Bernardino, California 92408
(d) Criminal Convictions: None
(e) Civil Orders: None
Bradley J. Crandall:
(a) Bradley J. Crandall
(b) 225 West Hospitality Lane, Suite 201, San Bernardino, California
92408
(c) Executive, Business Financing
American Pacific Financial Corporation
225 West Hospitality Lane, Suite 201
San Bernardino, California 92408
(d) Criminal Convictions: None
(e) Civil Orders: None
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The consideration used in the acquisition of the securities consisted of
all of the Membership Interests in Wabash Foods, LLC, a Delaware limited
liability company, formerly owned by Pate Foods Corporation. Poore Brothers,
Inc. valued the 4,400,000 shares of Common Stock to be issued at the close of
the transaction at $5,225,000 for purposes of seeking the approval of its
shareholders. Such amount was computed based upon a closing price for its stock
of $1.1875 per share on August 27, 1999. Pate Foods Corporation also received a
Warrant to purchase 400,000 shares of Common Stock at $1.00 per share in
connection with the transaction.
ITEM 4. PURPOSE OF TRANSACTION.
The transaction was entered into as a means by which Poore Brothers, Inc.
could acquire the business and assets of Wabash Foods, LLC. The members of
Wabash Foods, LLC and their affiliates entered the transaction as a means to
provide knowledgeable and experienced senior management for the operation of
Wabash Foods, LLC, to diversify its product line, and to increase the potential
liquidity of the investment by virtue of the status of Poore Brothers, Inc. as a
reporting company under the Securities Exchange Act of 1934.
8
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Beneficial Interests.
<TABLE>
<S> <C>
Pate Foods Corporation: 4,400,000 shares, plus right to acquire 400,000 shares;
38% percentage interest.
American Pacific Financial Corporation: 0 shares; 0% percentage interest.
Capital Foods, LLC: 0 shares; 0% percentage interest.
Larry R. Polhill: 2,200,000 shares, plus right to acquire 200,000 shares;
19% percentage interest.
Bradley J. Crandall: 2,200,000 shares, plus right to acquire 200,000 shares;
19% percentage interest.
(b) Voting and Dispositive Power.
Pate Foods Corporation: sole voting; 0 shared voting; 4,400,000
sole disposition; 0 shared disposition; 4,400,000
American Pacific Financial Corporation: sole voting; 0 shared voting; 0
sole disposition; 0 shared disposition; 0
Capital Foods, LLC: sole voting; 0 shared voting; 0
sole disposition; 0 shared disposition; 0
Larry R. Polhill: sole voting; 0 shared voting; 2,200,000
sole disposition; 0 shared disposition; 2,200,000
Bradley J. Crandall: sole voting; 0 shared voting; 2,200,000
sole disposition; 0 shared disposition; 2,200,000
</TABLE>
(c) Transactions within sixty days.
On October 7, 1999 Pate Foods Corporation transferred all of its Membership
Interests in Wabash Foods, LLC to Poore Brothers, Inc. in exchange for 4,400,000
shares of the Common Stock of Poore Brothers, Inc., plus a Warrant to purchase
an additional 400,000 shares of the Common Stock of Poore Brothers, Inc. for
$1.00 per share. The acquisition transaction contemplated Pate Foods
Corporation transferring all of the shares and the Warrant to American Pacific
Financial Corporation immediately following closing of the acquisition.
Immediately following this subsequent transaction, American Pacific Financial
Corporation was to transfer all of the shares and the Warrant to Capital Foods,
LLC. These subsequent transfers have not yet been consummated. The beneficial
owners of Pate Foods Corporation, including the percentage of ownership of each
such owner, are the same as the beneficial owners of the limited liability
company interests of Capital Foods, LLC.
9
<PAGE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
All of the entities described in Item 2 above are affiliated with or
controlled by Larry R. Polhill and Bradley J. Crandall.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following documents are attached as Exhibits hereto:
1. Joint Filing Agreement
SIGNATURES:
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: October 21, 1999. Pate Foods Corporation
By: /s/ LARRY R. POLHILL
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Larry R. Polhill, President
Dated: October 21, 1999. American Pacific Financial Corporation
By: /s/ LARRY R. POLHILL
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Larry R. Polhill, President
Dated: October 21, 1999. Capital Foods, LLC
By: /s/ LARRY R. POLHILL
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Larry R. Polhill, Manager
Dated: October 21, 1999. /s/ LARRY R. POLHILL
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Larry R. Polhill, Individually
Dated: October 21, 1999. /s/ BRADLEY J. CRANDALL
----------------------------------
Bradley J. Crandall, Individually
10
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EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Regulation 240.13d-1(k) promulgated under the
Securities Exchange Act of 1934, as amended, the persons named below agree to
the joint filing on behalf of each of them of a Statement on Schedule 13D
(including amendments thereto) with respect to the Common Stock of Poore
Brothers, Inc., and further agree that this Joint Filing Agreement expressly
authorizes Larry R. Polhill to file on each such party's behalf any and all
amendments to such Statement. Each such party undertakes to notify Larry R.
Polhill of any changes giving rise to an obligation to file an amendment to
Schedule 13D and it is understood that in connection with this Statement and all
amendments thereto, each such party shall be responsible only for information
supplied by such party.
In evidence thereof, the undersigned, being duly authorized, hereby
execute this Agreement this 21st day of October, 1999.
Pate Foods Corporation
a Delaware corporation
By: /s/ Larry R. Polhill
---------------------------------
Larry R. Polhill, President
American Pacific Financial Corporation
a California corporation
By: /s/ Larry R. Polhill
---------------------------------
Larry R. Polhill, President
Capital Foods, LLC
a Delaware limited liability company
By: /s/ Larry R. Polhill
---------------------------------
Larry R. Polhill, Manager
By: /s/ Larry R. Polhill
---------------------------------
Larry R. Polhill, Individually
By: /s/ Bradley J. Crandall
---------------------------------
Bradley J. Crandall, Individually
