-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KotvaZ0gGIGnu2ip3mtzEc3+Ka011zXrwZd9StFJsyNAc0quWcCmrvKIz6Rrw9Cv meHw70vlc0CmDfkiQZLtzg== 0000898077-01-000009.txt : 20010410 0000898077-01-000009.hdr.sgml : 20010410 ACCESSION NUMBER: 0000898077-01-000009 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010405 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: STAR BUFFET INC CENTRAL INDEX KEY: 0001043156 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 841430786 STATE OF INCORPORATION: DE FISCAL YEAR END: 0125 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-53257 FILM NUMBER: 1595813 BUSINESS ADDRESS: STREET 1: 1312 N SCOTTSDALE ROAD CITY: SCOTTSDALE STATE: AZ ZIP: 85257 BUSINESS PHONE: 6024250397 MAIL ADDRESS: STREET 1: 1312 N SCOTTSDALE ROAD CITY: SCOTTSDALE STATE: AZ ZIP: 85247 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ASSET VALUE FUND LIMITED PARTNERSHIP CENTRAL INDEX KEY: 0000898077 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 223090661 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 376 MAINE STREET STREET 2: PO BOX 74 CITY: BEDMINISTER STATE: NJ ZIP: 07921 BUSINESS PHONE: 9082340300 MAIL ADDRESS: STREET 1: PO BOX 74 CITY: BEDMINISTER STATE: NJ ZIP: 07921 SC 13D 1 0001.txt ORIGINAL SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 NAME OF ISSUER: Star Buffet, Inc. TITLE OF CLASS OF SECURITIES: Common Stock CUSIP NUMBER: 855086104000 NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS: Paul O. Koether Asset Value Management, Inc. 376 Main Street P.O. Box 74 Bedminster, New Jersey 07921 (908) 234-1881 DATE OF EVENT WHICH REQUIRES FILING: MARCH 29, 2001 If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (b)(3) or (4), check the following: ________ Check the following 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 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). (Continued on following pages) CUSIP NO.: 855086-10-4000 1. NAME OF REPORTING PERSON: Asset Value Fund Limited Partnership 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (b) XX 3. [SEC USE ONLY] 4. SOURCE OF FUNDS: WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): YES NO XX 6. CITIZENSHIP OR PLACE OF ORGANIZATION: New Jersey 7. SOLE VOTING POWER: 280,000 8. SHARED VOTING POWER: 0 9. SOLE DISPOSITIVE POWER: 280,000 10. SHARED DISPOSITIVE POWER: 0 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 280,000 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: YES NO XX 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.49% 14. TYPE OF REPORTING PERSON: PN Item 1. SECURITY AND ISSUER This Schedule 13D (this "Schedule") relates to the purchase by Asset Value Fund Limited Partnership ("Asset Value") of the common stock, $.001 par value per share ("Shares") of Star Buffet, Inc., a Delaware corporation (the "Company" or "Star Buffet"). Star Buffet's principal executive offices are located at 420 Lawndale Drive, Salt Lake City, Utah, 84115. Item 2. IDENTITY AND BACKGROUND (a), (b) and (c). Asset Value is a limited partnership engaged in investing in securities. The sole general partner of Asset Value is Asset Value Management, Inc. ("Asset Value Management"). Asset Value Management is a wholly-owned subsidiary of Kent Financial Services, Inc. ("Kent"), a public company, the principal business of which is the operation of T. R. Winston & Company, Inc. ("TRW"), its wholly-owned subsidiary. TRW is a broker-dealer registered with the National Association of Securities Dealers, Inc. Asset Value, Asset Value Management, Kent and TRW maintain offices at 376 Main Street, Bedminster, New Jersey 07921. (See Exhibits A and B for information about the executive officers and directors of Asset Value Management and Kent, respectively, including addresses and principal businesses or occupations.) (d) During the past five years, none of Asset Value, Asset Value Management, Kent, nor any of the persons listed on Exhibits A and B has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the past five years, none of Asset Value, Asset Value Management, Kent, nor any of the persons listed on Exhibits A and B has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of which was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Asset Value is a New Jersey limited partnership, and Asset Value Management and Kent are Delaware corporations. All individuals listed on Exhibits A and B are citizens of the United States. Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. As of April 5 , 2001, Asset Value has acquired 280,000 Shares at an aggregate purchase price of $721,829.26, including brokerage commissions. Asset Value purchased the Shares with its cash reserves. Item 4. PURPOSE OF TRANSACTION. Asset Value has acquired the Shares for capital appreciation. Asset Value currently intends to acquire additional Shares from time to time in open market or private transactions but, depending on future developments relating to general economic conditions or alternative investment opportunities, may also determine from time to time, or at any time, to sell or otherwise dispose of some or all of its Shares. Except as otherwise indicated herein, Asset Value has no plans or proposals which relate to or would result in any of the actions or matters referred to in the text of Item 4 of Schedule 13D. Item 5. INTEREST IN SECURITIES OF THE ISSUER (a) As of the close of business on April 5 , 2001, Asset Value beneficially owned 280,000 Shares, representing 9.49% of Shares reported as outstanding in the Company's Form 10-QSB for the quarter ended November 6, 2000. (b) The information presented in Items 7 through 10 of the cover sheet to this Schedule 13D is incorporated herein by reference. (c)Exhibit C annexed hereto sets forth all transactions in Shares effected by Asset Value in the sixty days preceding the date of this Statement, the dates of such transaction, and the per Share purchase price. The transactions reported herein, unless otherwise indicated, were open market transactions effected in the over-the-counter market. Item 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit A - Executive Officers and Directors of Asset Value Management Exhibit B - Executive Officers and Directors of Kent Exhibit C - Transactions in Shares for the past 60 days 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. Dated: April 5, 2001 ASSET VALUE FUND LIMITED PARTNERSHIP By: Asset Value Management, Inc. General Partner By: /s/ John W. Galuchie, Jr. -------------------------------- John W. Galuchie, Jr. Treasurer and Secretary EXHIBIT A ASSET VALUE MANAGEMENT (See Item 2 of this Schedule) Executive Officers and Directors
NAME AND BUSINESS ADDRESS PRESENT POSITION(S) WITH ADDRESS - ------------------------- --------------------------------- Paul O. Koether See Exhibit B for information about Mr. Koether John W. Galuchie, Jr. See Exhibit B for information about Mr. Galuchie
EXHIBIT B KENT (See Item 2 of this Schedule) Executive Officers and Directors
NAME AND BUSINESS ADDRESS* PRESENT POSITION(S) WITH ADDRESS* - ------------------------- --------------------------------- Paul O. Koether Chairman, President and Director of Kent Registered Representative, Chairman and Director of TRW President and Director of Asset Value Management Chairman and Director of Pure World, Inc. ("Pure World") (Pure World develops, manufactures and sells natural ingredients which principally are derived from plant materials (botanicals) using its proprietary extraction technology for the cosmetic, food and flavor, nutraceutical and pharmaceutical industries.) Chairman, President and Director of Sun Equities Corporation ("Sun") (Sun is a closely-held private company, the business of which is to own shares of other corporations. Sun and parties affiliated with Sun own approximately 37 percent of Pure World's outstanding common stock.) General Partner Shamrock Associates (Investment limited partnership; owner of approximately 47 percent of Kent's outstanding common stock.) Chairman and Director Cortech, Inc. ("Cortech") (A biopharmaceutical company seeking to redeploy its assets.) *Unless otherwise designated, the address of the executive officers, directors, and companies referred herein, is 376 Main Street, Bedminster, New Jersey 07921. John W. Galuchie, Jr. Vice President and Treasurer of Kent Secretary, Treasurer and Director of Asset Value Management Registered Representative, President, Treasurer and Director of TRW Vice President and Director of Sun Executive Vice President, Treasurer and Secretary of Pure World President and Director of Cortech Chairman and Director of Gish Biomedical, Inc. 22942 Arroyo Vista Rancho Santa Margarita, CA 92688 (A medical device manufacturer.) Chairman, President and Director of General Devices, Inc. (Engaged in seeking an operating business.) M. Michael Witte Director of Kent 1120 Granville Avenue Suite 102 President Los Angeles, CA 90049 M.M. Witte & Associates, Inc. ("1120 Granville") 1120 Granville (Oil and gas consulting and investment management) President and Chief Executive Officer South Coast Oil Corporation 800 W. 6th Street Pacific Financial Center Suite 1600 Los Angeles, CA 90017 (Oil and gas exploration and production) Casey K. Tjang Director of Kent 4365 Route One, Suite 210 Princeton, NJ 08540 Executive Vice President of Finance ("4365 Route One") and Administration of Knowledgewindow , Inc. 4365 Route One (An e-learning provider of internet training.) Mathew E. Hoffman, Esq. Director of Kent 425 Park Avenue New York, NY 10022 Head of Litigation ("425 Park") Todtman, Nachamie, Spizz & Johns,P.C. 425 Park (Law firm) Qun Yi Zheng, Ph.D. Director of Kent 375 Huyler Street South Hackensack, NJ 07606 Director of Cortech ("375 Huyler") Executive Vice President and Director of Science and Technology of Pure World Botanicals, Inc. 375 Huyler (Wholly owned operating subsidiary of Pure World.)
EXHIBIT C Transactions in Shares for the Past 60 Days
NUMBER OF PRICE DATE SHARES PURCHASED PER SHARE * - -------- -------------------------- ------------------ - --------- --------- -------- 02/21/01 2,300 2.4375 03/16/01 900 2.50 03/22/01 2,200 2.50 03/27/01 50,000 2.50 03/29/01 162,900 2.50 03/30/01 4,000 2.50 04/03/01 10,000 2.375
*Exclusive of brokerage commission, if any. -----END PRIVACY-ENHANCED MESSAGE-----