<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
TOROTEL PRODUCTS, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
89 13 05 104
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(CUSIP Number)
Peter B. Caloyeras, 2041 W. 139th Street, Gardena, CA 90249 (310) 527-8100
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
September 16, 1996
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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 to 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).
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SCHEDULE 13D
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<S> <C>
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CUSIP NO. 89 13 05 104 Page 2 of 4 Pages
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<TABLE>
<CAPTION>
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<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peter B. Caloyeras (S.S. No.: ###-##-####)
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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 SOURCE OF FUNDS*
PF
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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 OR ORGANIZATION
Citizen of the United States.
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</TABLE>
[CAPTION]
<TABLE>
<S> <C> <C>
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7 SOLE VOTING POWER
191,000
NUMBER OF -------------------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 191,000
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10 SHARED DISPOSITIVE POWER
0
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</TABLE>
<TABLE>
<CAPTION>
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<S> <C> <C>
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
191,100
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.81%
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14 TYPE OF REPORTING PERSON*
IN
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</TABLE>
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ITEM 1. SECURITY AND ISSUER
This statement relates to the common stock of Torotel Products, Inc.
(the "Company"). The Company's principal executive offices are located at 13402
South 71 Highway, Grandview, Missouri 64030.
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed by Peter B. Caloyeras, the beneficial
owner of the shares to which this statement relates. The shares reported hereby
are held by Mr. Caloyeras (i) in the name of the Caloyeras 1982 Revocable Trust
(the "Trust"), of which Mr. Caloyeras is the sole trustee, (ii) in his
individual retirement account and (iii) in the name of The Caloyeras Family
Partnership, a California limited partnership ("CFP"), the sole limited
partners of which are the children of Mr. Caloyeras and the sole general
partner of which is PBC, Inc., a California corporation ("PBC") of which Peter
B. Caloyeras is the sole shareholder, director and officer. The principal
business of CFP is real estate and equipment leasing, while the principal
business of PBC is to act as the general partner of CFP. The business address
of each of Mr. Caloyeras, CFP and PBC is 2041 W. 139th Street, Gardena,
California 90249. Mr. Caloyeras is the Chairman of Magnetika, Inc.
("Magnetika"), an electrical component manufacturer, and Magnetika's address
also is 2041 W. 139th Street, Gardena, California 90249. None of Mr. Caloyeras,
CFP or PBC has been convicted in a criminal proceeding during the last five
years or been a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction during the past five years. Mr. Caloyeras is a
citizen of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Mr. Caloyeras acquired the securities with funds from his personal bank
account or the accounts of the Trust or CFP, as the case may be.
ITEM 4. PURPOSE OF TRANSACTION
Mr. Caloyeras has acquired the securities for investment purposes, and
may acquire additional securities of the issuer, not to exceed 9.99% of the
Company's outstanding common stock, also for investment purposes. Mr. Caloyeras
has no current plans or proposals which would relate to or result in an
extraordinary corporate transaction involving the Company or any of its
subsidiaries, any change in the present board of directors or management of the
Company or any material change in the Company's business.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the date hereof, Mr. Caloyeras is the beneficial owner of
191,000 shares of the common stock of the Company, representing approximately
6.81% of the Company's outstanding common stock. Of this amount (i) 109,900
shares are held by the Trust, (ii) 13,000 shares are held in Mr. Caloyera's
individual retirement account and (iii) 68,100 shares are held by CFP.
Page 3 of 4 Pages
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(b) Mr. Caloyeras has the sole power to vote or to direct the vote
and the sole power to dispose or to direct the disposition of
all 191,000 shares of the Company's common stock to which this
statement relates. Mr. Caloyeras does not share any voting or
dispositive power with respect to such common stock with any
other person or entity.
(c) In the past sixty days, Mr. Caloyeras, through CFP, purchased
the following shares of common stock of the Company in the open
market:
<TABLE>
<CAPTION>
Date of Number of Purchase
Purchase Shares Price
-------- --------- --------
<S> <C> <C>
08/21/96 2,000 $1.3750
08/23/96 1,500 $1.3125
09/06/96 3,000 $1.4375
09/11/96 4,800 $1.3125
09/12/96 3,000 $1.2500
09/16/96 15,500 $1.4150
09/20/96 9,300 $1.5625
09/30/96 500 $1.5000
09/30/96 1,500 $1.5625
10/03/96 8,000 $1.5000
10/09/96 7,000 $1.5000
10/24/96 12,000 $1.5000
</TABLE>
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.
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.
Date: October 24, 1996 /s/ Peter B. Caloyeras
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PETER B. CALOYERAS
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