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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13G
Under the Securities and Exchange Act of 1934
(Amendment No. 0)*
Tandycrafts, Inc.
(Name of issuer)
Common Stock
(Title of Class of Securities)
875386104
(Cusip Number)
December 31, 1999
(Date of the Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
X Rule 13d-1(b)
X Rule 13d-1(c)
Rule 13d-1(d)
*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 "filled" 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
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CUSIP No. 875386104
1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
SUMMIT CAPITAL MANAGEMENT, LLC (#91-1723315)
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) _______________________________________________________________
(b) _______________________________________________________________
3. SEC Use Only _______________________________________________________
4. Citizenship or Place of Organization - WASHINGTON STATE
Number of 5. Sole Voting Power 0
Shares Bene-
ficially by 6. Shared Voting Power 870,100
Owned by Each
Reporting 7. Sole Dispositive Power 0
Person With:
8. Shared Dispositive Power 870,100
9. Aggregate Amount Beneficially Owned by Each Reporting Person
870,100
10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) _________________________________________________
11. Percent of Class Represented by Amount in Row (11) 7.2%
12. Type of Reporting Person (See Instructions)
IA
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INSTRUCTIONS FOR SCHEDULE 13G
Instructions for Cover Page
(1) Names and I.R.S. Identification Numbers of Reporting Persons-Furnish all
full legal name of each person for whom the report is filed-i.e., each
person required to sign the schedule itself-including each member of a
group. Do not include the name of a person required to be identified in
the report but who is not a reporting person. Reporting persons that are
entities are also requested to furnish their I.R.S. identification numbers,
although disclosure of such numbers is voluntary, not mandatory (see
"SPECIAL INSTRUCTIONS FOR COMPLYING WITH SCHEDULE 13G" below).
(2) If any of the shares beneficially owned by a reporting person are held as a
member of a group and that membership is expressly affirmed, please check
row 2(a). If the reporting person disclaims membership in a group or
describes a relationship with other persons but does not affirm that
existence of a group, please check row 2(b) [unless it is a joint filing
pursuant to Rule 13d-1(k)(I) in which case it may not be necessary to check
row 2(b)].
(3) The third row is for SEC internal use; please leave blank.
(4) Citizenship or Place of Organization-Furnish citizenship if the named
reporting person is a natural person. Otherwise, furnish place of
organization.
(5)-(9),(11) Aggregate Amount Beneficially Owned By Each Reporting Person, Etc.-
Rows (5) through (9) inclusive, and (11) are to be completed in accordance
with the provisions of Item 4 of Schedule 13G. All percentages are to be
rounded off to the nearest tenth (one place after decimal point).
(10) Check if the aggregate amount reported as beneficially owned in row (9)
does not include shares as to which beneficial ownership is disclaimed
pursuant to Rule 13d-4(17 CFR 240.13d-4) under the Securities Exchange Act
of 1934.
(12) Type of Reporting Person-Please classify each "reporting person" according
to the following breakdown (see Item 3 of Schedule 13G) and place the
appropriate symbol on the form:
Category Symbol
Broker Dealer BD
Bank BK
Insurance Company IC
Investment Company IV
Investment Advisor IA
Employee Benefit Plan, Pension Fund,
Or Endowment Fund EP
Parent Holding Company/Control Person HC
Savings Association SA
Church Plan CP
Corporation CO
Partnership PN
Individual IN
Other OO
Notes:
Attach as many copies of the second part of the cover page as are needed, one
reporting person per page.
Filing persons may, in order to avoid unnecessary duplication, answer items on
the schedules (Schedule 13D, 13G or 14D-1) by appropriate cross references to an
item or items on the cover page(s). This approach may only be used where the
cover page item or items provide all the disclosure required by the schedule
item. Moreover, such a use of a cover page item will result in the item
becoming a part of the schedule and accordingly being considered as "filed" for
purposes of Section 18 of the Securities Exchange Act or otherwise subject to
the liabilities of that section of the Act.
Reporting persons may comply with their cover page filing requirements by
filing either completed copies of the blank forms available from the Commission,
printed or typed facsimiles, or computer printed facsimiles, provided the
documents filed have identical formats to the forms prescribed in the
Commission's regulations and meet existing Securities Exchange Act rules as to
such matters as clarity and size (Securities Exchange Act Rule 12b-12).
SPECIAL INSTRUCTIONS FOR COMPLYING WITH SCHEDULE 13G
Under Sections 13(d), 13(g), and 23 of the Securities Exchange Act of 1934 and
the rules and regulations thereunder, the Commission is authorized to solicit
the information required to be supplied by this schedule by certain security
holders of certain issuers.
Disclosure of the information specified in this schedule is mandatory, except
for I.R.S. identification numbers, disclosure of which is voluntary. The
information will be used for the primary purpose of determining and disclosing
the holdings of certain beneficial owners of certain equity securities. This
statement will be made a matter of public record. Therefore, any information
given will be available for inspection by any member of the public.
Because of the public nature of the information, the Commission can use it for
a variety of purposes, including referral to other governmental authorities or
securities self-regulatory organizations for investigatory purposes or in
connection with litigation involving the Federal securities laws or other civil,
criminal regulatory statutes or provisions. I.R.S. identification numbers, if
furnished, will assist the Commission in identifying security holders and,
therefore, in promptly processing statements of beneficial ownership of
securities.
Failure to disclose the information requested by this schedule, except for
I.R.S. identification numbers, may result in civil or criminal action against
the persons involved for violation of the Federal securities laws and rules
promulgated thereunder.
GENERAL INSTRUCTIONS
A. Statements filed pursuant to Rule 13d-1(b) containing the information
required by this schedule shall be filed not later than February 14 following
the calendar year covered by the statement or within the time specified in Rules
13d-1(b)(2) and 13d-2(c). Statements filed pursuant to Rule 13d-1(c) shall be
filed within the time specified in Rules 13d-1(c), 13d-2(b) and 13d-2(d).
Statements filed pursuant to Rule 13d-1(d) shall be filed not later than
February 14 following the calendar year covered by the statement pursuant to
Rules 13d-1(d) and 13d-2(b).
B. Information contained in a form which is required to be filed by rules under
section 13(f) [15 U.S.C. 78m(f)] for the same calendar year as that covered by a
statement on this schedule may be incorporated by reference in response to any
of the items of this schedule. If such information is incorporated by reference
in this schedule, copies of the relevant pages of such form shall be filed as an
exhibit to this schedule.
C. The item numbers and captions of the items shall be included but the text of
the items is to be omitted. The answers to the items shall be so prepared as
to indicate clearly the coverage of the items without referring to the text
of the items. Answer every item. If an item is inapplicable or the answer
is in the negative, so state.
Item 1.
(a) Name of Issuer
TANDYCRAFT, INC.
(b) Address of Issuer's Principal Executive Offices
1400 Everman Parkway, Fort Worth, Texas 76140
Item 2.
(a) Name of Person Filing
(a) SUMMIT CAPITAL MANAGEMENT, LLC; (b) SUMMIT CAPITAL PARTNERS, LP and
(c) JOHN C. RUDOLF, INDIVIDUAL.
(b) Address of Principal Business Office or, if none, Residence
601 UNION STREET, SUITE 3900
SEATTLE, WA 98101
(c) Citizenship
WASHINGTON STATE
(d) Title of Class of Securities
COMMON STOCK
(e) CUSIP Number
875386104
Item 3. This statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) and
the person filing is an investment adviser in accordance
with 240.13d-1(b)(1)(ii)(E).
Item 4. Ownership
(a) Amount beneficially owned: 870,100.
(b) Percentage of class: 7.2%.
(c) Number of shares as to which person has:
(i) Sole power to vote or direct the vote: ___________0(a,b,c).
(ii) Shared power to vote or direct the vote: ___870,100(a,c).
(iii) Sole power to dispose or to direct the disposition of: _____0(a,b,c).
(iv) Shared power to dispose or to direct the disposition of: 870,100(a,c).
Instruction. For computations regarding securities which represent a right to
acquire an underlying security see 240.13d-3(d)(1).
Item 5. Ownership of Five Percent of 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. ___.
Instruction. Dissolution of a group requires a response to this item.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employees benefit plan, pension fund or endowment fund is not required.
N/A
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
If a parent holding company has filed this schedule, pursuant to Rule 13d-
1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the
identity and the Item 3 classification of the relevant subsidiary. If a parent
holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-
1(d), attach an exhibit stating the identification of the relevant subsidiary.
N/A
Item 8. Identification and Classification of Members of the Group
If a group has filed this schedule pursuant to 240.13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has filed this schedule
pursuant to 240.13d-1(c) or 240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
N/A
Item 9. Notice of Dissolution of Group
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to transaction
sin the security reported on will be filed, if required, by members of the
group, in their individual capacity. See Item 5.
N/A
Item 10. Certification
(a) The following certification shall be included if the statement is filed
pursuant to 240.13d-1(b):
By signing below I certify that to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and were not acquired and are not held for the purpose of or with
the affect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
(b) The following certification shall be included if the statement is filed
pursuant to 240.13d-1(c):
By signing below I certify that to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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.
February 11, 2000
Date
John C. Rudolf
Signature
John C. Rudolf, Individually and as President of
Summit Capital Mangagement, LLC on its own behalf and as
General Partner for Summit Capital Partners, LP.
Name/Title
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JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)1
This agreement is made pursuant to Rule 13d-1(k)1 under the Securities
and Exchange Act of 1934 (the "Act") by and amoung the parties listed
below, each referred to herein as a "Joint Filer". The Joint Filers
agree that a statement of beneficial ownership as required by
Section 13(d) of the Act and the Rules thereunder may be filed on each
of their behalf on Schedule 13D or Schedule 13G, as appropriate, and
that said joint filing may thereafter be amended by further joint
filings. The Joint Filers state that they each satisfy the requirements
for making a joint filing under Rule 13d-1.
Dated: February 11, 2000
John C. Rudolf, President
Summit Capital Management, LLC
John C. Rudolf, Individual
John C. Rudolf, Managing Member
Summit Capital Management, LLC, the General Partner of
Summit Capital Partners, LP
