-----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, BhN/wI9zkgr1T+Bzuo9CPcwAbQkD6CJa431H+ffSsNuyoS/PBvAyjugHoi6bR+KB pAs2YozyohC87C9N6DyKug== 0000950123-97-007468.txt : 19970912 0000950123-97-007468.hdr.sgml : 19970912 ACCESSION NUMBER: 0000950123-97-007468 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19970902 SROS: NONE GROUP MEMBERS: ANNE A HILL GROUP MEMBERS: ARNIE GELLER GROUP MEMBERS: CARLIN ALLAN H GROUP MEMBERS: CHERYL HOTHORN GROUP MEMBERS: D MICHAEL HARRIS GROUP MEMBERS: DIANE CARLIN GROUP MEMBERS: G MICHAEL HARRIS GROUP MEMBERS: GEORGE TULLOCH GROUP MEMBERS: JAMES A HILL GROUP MEMBERS: KURT HOTHORN GROUP MEMBERS: SHIRLEY HILL GROUP MEMBERS: TITANIC VENTURES LIMITED PARTNERSHIP GROUP MEMBERS: WESTGATE ENTERTAINMENT CORP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RMS TITANIC INC CENTRAL INDEX KEY: 0000796764 STANDARD INDUSTRIAL CLASSIFICATION: WATER TRANSPORTATION [4400] IRS NUMBER: 592753162 STATE OF INCORPORATION: FL FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-51499 FILM NUMBER: 97674344 BUSINESS ADDRESS: STREET 1: 17 BATTERY PLACE CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 2125586300 MAIL ADDRESS: STREET 1: 17 BATTERY PL CITY: NEW YORK STATE: NY ZIP: 10004 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CARLIN ALLAN H CENTRAL INDEX KEY: 0001045335 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: C/O RMS TITANIC INC STREET 2: 17 BATTERY PLACE CITY: NEW YORK STATE: NY ZIP: 10004 MAIL ADDRESS: STREET 1: C/O RMS TITANIC INC STREET 2: 17 BATTERY PLACE CITY: NEW YORK STATE: NY ZIP: 10004 SC 13D 1 RMS TITANIC, INC. 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. )* RMS TITANIC, INC. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.0001 par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 0007496121 - -------------------------------------------------------------------------------- (CUSIP Number) George Tulloch President, RMS Titanic, Inc. 17 Battery Place New York, New York 10004 (212) 558-6300 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 22, 1997 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement of Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13-1(b)(3) or (4), check the following box / /. Check the following box if a fee is being paid with the statement /x/. (A fee is not required only if the reporting person: (1) has a previous statement on filed 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 13-1(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). 2 SCHEDULE 13D CUSIP No. 0007496121 PAGE 2 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON TITANIC VENTURES LIMITED PARTNERSHIP - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CONNECTICUT - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 4,582,167 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 4,582,167 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,582,167 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 27.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 3 SCHEDULE 13D CUSIP No. 0007496121 PAGE 3 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON GEORGE TULLOCH - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 5,865,588 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 82,309 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 4,582,167 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,865,558 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 35.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 4 SCHEDULE 13D CUSIP No. 0007496121 PAGE 4 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ALLAN H. CARLIN - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 500,000 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 500,000 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 500,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement and 197,500 shares registered in the name of the Reporting Person's spouse. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 5 SCHEDULE 13D CUSIP No. 0007496121 PAGE 5 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ARNIE GELLER - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 1,650,000 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 1,650,000 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,650,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement and excludes 300,000 shares over which the Reporting Person has been granted voting rights pursuant to a revocable proxy. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 6 SCHEDULE 13D CUSIP No. 0007496121 PAGE 6 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON G. MICHAEL HARRIS - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 165,000 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 165,000 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 165,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 7 SCHEDULE 13D CUSIP No. 0007496121 PAGE 7 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON KURT HOTHORN - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 21,544 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,544 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 8 SCHEDULE 13D CUSIP No. 0007496121 PAGE 8 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CHERYL HOTHORN - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 21,544 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,544 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 9 SCHEDULE 13D CUSIP No. 0007496121 PAGE 9 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON WESTGATE ENTERTAINMENT CORP. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 603,759 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 603,759 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 603,759 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 10 SCHEDULE 13D CUSIP No. 0007496121 PAGE 10 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON DIANE CARLIN - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 197,500 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 197,500 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 197,500 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement and 500,000 shares which are the subject of a currently exercisable option granted to the Reporting Person's spouse. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 11 SCHEDULE 13D CUSIP No. 0007496121 PAGE 11 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ANNE A. HILL - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 250,000 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 250,000 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 250,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 12 SCHEDULE 13D CUSIP No. 0007496121 PAGE 12 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SHIRLEY HILL - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 25,000 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 25,000 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 13 SCHEDULE 13D CUSIP No. 0007496121 PAGE 13 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON JAMES A. HILL - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 25,000 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 25,000 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 14 SCHEDULE 13D CUSIP No. 0007496121 PAGE 14 OF 22 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON D. MICHAEL HARRIS - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 165,000 BENEFICIALLY ----------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 9,468,391 PERSON ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER 165,000 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 165,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /x/ Excludes shares for which the only basis for asserting beneficial ownership is the Voting Agreement. - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 15 SCHEDULE 13D ITEM 1. SECURITY AND ISSUER. This Schedule 13D filing relates to the common stock of RMS Titanic, Inc. (the "Issuer"). The principal executive office of the Issuer are located at 17 Battery Place, New York, New York 10004. ITEM 2. IDENTITY AND BACKGROUND. This statement is being filed on behalf of the following persons who are collectively referred to as the "Reporting Persons." The parties comprising the Reporting Persons are filing this Statement jointly as they may be deemed to be a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, solely as a result of the Voting Agreement described in Item 4 below. A joint filing agreement among the Reporting Persons is attached hereto as Exhibit 7.1. Titanic Ventures Limited Partnership ("TVLP") is a limited partnership organized under the laws of the State of Connecticut, and is the predecessor to the Issuer. TVLP does not have any active business operations. The principal office of TVLP is located at 204 Old Post Road, Southport, Connecticut 06490. George Tulloch is the President and a director of the Issuer, and is the only executive officer and only shareholder of Oceanic Research and Exploration Limited ("ORE"), the general partner of TVLP. The principal business and office of Mr. Tulloch and of ORE is located at 17 Battery Place, New York, New York 10004, Mr. Tulloch is a citizen of the United States. Allan H. Carlin is an attorney admitted to practice in the State of New York and serves as general counsel for the Issuer. The principal business and office of Mr. Carlin is located at 17 Battery Place, New York, New York 10004. Mr. Carlin is a citizen of the United States, and is the spouse of Diane Carlin, who is also a Reporting Person. Arnie Geller is a self-employed corporate consultant. From May 1993 to May 1995, Mr. Geller served as President and a director of the Issuer. The principal business and office of Mr. Geller is located at 2660 Peachtree Road, Atlanta, 30305. Mr. Geller is a citizen of the United States. G. Michael Harris is a promoter and agent of entertainment programs and events. The principal business and office of Mr. Harris is located at 2840 West bay Drive, Suite 231, BelleAir Bluffs, Florida 33770. Mr. Harris is a citizen of the United States, and is the son of D. Michael Harris, who is also a Reporting Person. Kurt Hothorn trades securities for his own account and is a limited partner of TVLP. The principal business and office of Mr. Hothorn is located at 160 Mead Avenue, Greenwich, Connecticut 06830. Mr. Hothorn is a citizen of the United States, and is the spouse of Cheryl Hothorn, who is also a Reporting Person. Cheryl Hothorn is a travel agent for Carlson Wagonlit Travel and is a limited partner of TVLP. The principal business and office of Ms. Hothorn is located at 60 Greenwich Avenue, Greenwich, Connecticut 06830. Ms. Hothorn is a citizen of the United States, and is the spouse of Kurt Hothorn, who is also a Reporting Person. Westgate Entertainment Corp. ("Westgate") is a corporation organized under the laws of the State of California which is engaged in the production of programs for television. John A. Joslyn, whose principal business is the production of programs for television, is the sole officer and sole shareholder of Westgate. The principal business and office of Westgate and Mr. Joslyn is located at 4405 Riverside Drive, Suite 104, Burbank, California 91505. 15 16 Anne A. Hill is a self-employed business consultant. The principal business and office of Ms. Hill is located at 2221 Peachtree Road, Suite D167, Atlanta, Georgia 30309. Ms. Hill is a citizen of the United States, and is the sister-in-law of Shirley A. Hill and James A. Hill, who are also Reporting Persons. Diane Carlin is a teacher at William Woodward, Jr. Nursery School. The principal business and office of Ms. Carlin is 436 East 69th Street, New York, New York 10022. Ms. Carlin is a citizen of the United States, and is the spouse of Allan H. Carlin, who is also a Reporting Person. Shirley A. Hill is the sole owner and President of Julie's Shoppe, Inc., a women's apparel business. The principal business and office of Ms. Hill is located at 310 East Main Street, Swainsboro, Georgia 30401. Ms. Hill is a citizen of the United States, and is the mother-in-law of Anne A. Hill and the mother of James A. Hill, who are also Reporting Persons. James A. Hill is an independent minister. The principal business and office of Mr. Hill is located at 2625 Piedmont Road, No. 56300, Atlanta, GA 30324. Mr. Hill is a citizen of the United States, and is the brother-in-law of Anne A. Hill and the son of Shirley A. Hill, who are also Reporting Persons. D. Michael Harris is a promoter of events. The principal business and office of Mr. Harris is located at 2411 Carolina Avenue, Tampa, Florida 33629. Mr. Harris is a citizen of the United States, and is the father of G. Michael Harris, who is also a Reporting Person. Pursuant to written consents executed by a majority of shareholders of the Issuer in lieu of an annual meeting, Messrs. Tulloch, Carlin, Geller, G. Michael Harris and Hothorn have been elected directors of the Issuer, which election will become effective twenty (20) days after distribution of an Information Statement in accordance with the provisions of the Securities Act of 1934, as amended. During the last five years, none of the foregoing Reporting Persons or the executive officers, directors or controlling shareholders of ORE and Westgate, respectively, (i) has been convicted in a criminal proceedings (excluding traffic violations or similar misdemeanors), or (ii) has been a party to a civil proceeding and as a result of such proceeding was or is 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. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The Reporting Persons are filing this statement of Schedule 13D as a result of their entrance into the Voting Agreement attached hereto as Exhibit 7.2 and not as a result of any acquisition of Common Stock by the Reporting Persons. ITEM 4. PURPOSE OF TRANSACTION. Pursuant to a Voting Agreement dated August 22, 1997 among the Reporting Persons (the "Voting Agreement"), each of the Reporting Persons has agreed, until August 31, 1999, to vote all their shares of Common Stock of the Issuer in favor of the election of George Tulloch, Allan H. Carlin, Arnie Geller, G. Michael Harris and Kurt Hothorn as directors of the Issuer. The Voting Agreement places certain restrictions on the Reporting Persons' right to transfer shares of Common Stock subject to the Voting Agreement, and requires that such shares be offered for sale to Messrs. Tulloch, Carlin, Geller, G. Michael Harris and Hothorn prior to the sale thereof in the open market. The purpose of the Voting Agreement is to assure the service of a qualified and competent Board of Directors of the Issuer. 16 17 The description of the Voting Agreement is not necessarily complete, and reference is made to the copy of the Voting Agreement, which is attached as Exhibit 7.2 hereto. At the present time none of the persons identified in response to Item 2 of this Statement has any plans or proposals which relate to or would result in any of the following, except as discussed above in Item 2 and in this Item 4: (1) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (2) Sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (3) Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (4) Any material change in the present capitalization or dividend policy of the Issuer; (5) Any other material change in the Issuer's business or corporate structure; (6) Changes in the Issuer's charter, bylaws or instruments corresponding thereto or other corporate actions which may impede the acquisition of control of the Company by any person; (7) Causing the Issuer's Common Stock to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (8) A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (9) Any action similar to any of those enumerated above. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The following table sets forth the beneficial ownership of shares of the Issuer's Common Stock by (a) each Reporting Person and (b) each person for whom information has been required to be provided pursuant to General Instruction C of Schedule 13D who beneficially owns Common Stock. The table below includes shares that may be acquired upon exercise of options that are currently exercisable or exercisable within 60 days. As of August 31, 1997, there were 16,192,119 shares of the Issuer's Common Stock outstanding. In the aggregate, the Reporting Persons beneficially own 9,468,391 shares (including shares obtainable upon exercise of options or warrants that are exercisable within 60 days). These shares represent approximately 56% of the Common Stock of the Issuer (including for purposes of this calculation options or warrants held by the Reporting Persons and exercisable within 60 days). Except for shared rights to vote pursuant to the Voting Agreement and as otherwise noted, each person has sole voting and dispositive control over the shares identified below. Each Reporting Person disclaims beneficially ownership of those shares for which the only basis for asserting beneficial ownership is the Voting Agreement. 17 18
Aggregate Number of Name Shares - ------------------------------------- -------------------------------- Titanic Ventures Limited Partnership 4,582,167 (1) George Tulloch 1,283,421 (2) Allan H. Carlin 500,000 (3) Arnie Geller 1,650,000 (4) G. Michael Harris 165,000 Kurt Hothorn and Cheryl Hothorn 21,544 (5) Westgate Entertainment Corp. 603,759 Diane Carlin 197,500 (6) Anne A. Hill 250,000 (7) Shirley A. Hill 25,000 (7) James A. Hill 25,000 (7) D. Michael Harris 165,000
(1) George Tulloch is the President and sole shareholder of Oceanic Research and Exploration Limited ("ORE"), a Delaware corporation which serves as the General Partner of Titanic Ventures Limited Partnership ("TVLP"). The General Partner of TVLP has the right to vote the shares of the Issuer without the consent of the Limited Partners of TVLP, and may dispose of the shares of the Issuer, subject to a right of purchase by the limited partners of TVLP. By letter agreement dated June 12, 1996 Mr. Tulloch had previously agreed, subject to the fulfillment of certain conditions, to distribute eighty (80%) percent of each limited partner's interest in the shares of the Issuer owned by TVLP, subject to the execution of proxies by the limited partners granting to the General Partner voting power over such shares until May 31, 1997, with such proxies to terminate upon the public market sale of such shares. Mr. Tulloch and the General Partner believe that such letter agreement is not enforceable on the basis of a number of grounds, including but not limited to fraudulent inducement, repudiation and the absence of consideration, and accordingly will not distribute shares of the Issuer owned by TVLP to the limited partners of TVLP in accordance with the terms thereof. Mr. Gasparrini claims that such June 12, 1996 letter agreement is valid and enforceable, and has also claimed that a certain document dated April 21, 1995, pursuant to which Mr. Tulloch allegedly agreed to distribute each limited partner's interest in the shares of the Issuer owned by TVLP and immediately granted each limited partner the right to vote the shares of the Issuer's Common Stock owned by TVLP in proportion to their partnership interests, is enforceable. Mr. Gasparrini has threatened to commence legal proceedings against Mr. Tulloch and ORE in order to enforce his rights under the June 12, 1996 letter agreement and the purported April 21, 1995 agreement. Mr. Tulloch denies that he or ORE entered into any such April 21, 1995 agreement or that such alleged agreement was or is valid, and intends to vigorously defend any actions that may be instituted by Mr. Gasparrini with respect to the June 12, 1996 letter agreement or the purported April 21, 1995 agreement. (2) Includes 1,202,122 shares of Common Stock distributed to TVLP limited partners, as to which Mr. Tulloch retains voting control pursuant to written proxies until June 17, 1999, but as to which he exercises no dispositive powers. Such written proxies are subject to termination upon the public market sale of 18 19 such shares. Does not include shares of the Issuer owned by TVLP over which Mr. Tulloch, in his capacity as President of the sole general partner of TVLP, exercises voting power and dispositive power. See footnote (1) above. (3) Represents options which are presently exercisable. Does not include 197,500 shares of Common Stock registered in the name of Mr. Carlin's spouse, who is also a Reporting Person, as to which Mr. Carlin disclaims beneficial ownership. (4) Does not include revokable proxies granted to Mr. Geller by Anne A. Hill, Shirley Hill and James A. Hill, all of whom are Reporting Persons, to vote their shares. (5) Voting power with respect to such shares has been granted to George Tulloch until June 17, 1999 pursuant to written proxy, which proxy is subject to termination upon the public market sale of such shares. See footnote (2) above. Except as set forth above, Mr. and Mrs. Hothorn jointly share voting power and dispositive power over such shares. (6) Does not include 500,000 options granted to Ms. Carlin's spouse, who is also a Reporting Person, as to which Ms. Carlin disclaims beneficial ownership. See footnote (3) above. (7) Voting power with respect to such shares has been granted to Arnie Geller pursuant to revokable proxies. See footnote (4) above. On July 3, 1997, ORE distributed to certain limited partners of TVLP an aggregate of 1,202,112 shares of the Issuer, representing their respective interests in shares of the Issuer that had been registered in the name of TVLP (less a total of 87,388 shares which have been retained from their interests for the payment of their pro-rata share of TVLP's expenses), which shares are subject to a written proxy granting George Tulloch the right to vote such shares until June 17, 1999, with such proxies to terminate upon the public market sale of such shares. See footnote (2) to above table. The Reporting Persons have not effected any other transaction in the Issuer's Common Stock within the last sixty days. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. There are no contracts, arrangements, understandings or relationships between the Reporting Persons and any other person with respect to the securities of the Issuer, other than as set forth in the Voting Agreement and the Addendums annexed thereto, Item 5 above, and a transaction pursuant to which G. Michael Harris, one of the Reporting Persons, agreed to loan to TVLP the sum of up to $200,000 pursuant to an agreement dated July 30, 1997, with any loans made pursuant thereto to have a term of 18 months and to bear interest at the rate of 8% per annum. All loans pursuant to such agreement are secured by a lien and security interest in 400,762 shares of the Issuer's Common Stock. Pursuant to such agreement, it was agreed that the general partner of TVLP would not be changed and ORE would not be removed as general partner of TVLP without the lender's written consent. As of the date of this filing, the sum of $65,000 has been loaned to TVLP pursuant to such agreement. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Incorporated by reference or filed as exhibits hereto are the following: 7.1 Agreement relating to the filing of joint acquisition statements as required by Rule 13d-1(f)(1) of the Securities Exchange Commission. 7.2 Voting Agreement among Reporting Persons dated August 22, 1997. 19 20 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this Statement on Schedule 13D is true, complete and correct. Dated: September 2, 1997 TITANIC VENTURES LIMITED PARTNERSHIP By:Oceanic Research and Exploration Ltd. By: /s/ George Tulloch ------------------------------------ George Tulloch, President /s/ George Tulloch --------------------------------------- George Tulloch /s/ Allan H. Carlin --------------------------------------- Allan H. Carlin /s/ Arnie Geller --------------------------------------- Arnie Geller /s/ G. Michael Harris --------------------------------------- G. Michael Harris /s/ Kurt Hothorn --------------------------------------- Kurt Hothorn /s/ Cheryl Hothorn --------------------------------------- Cheryl Hothorn Westgate Entertainment Corp. By: /s/ John A. Joslyn ------------------------------------ John A. Joslyn, President /s/ Diane Carlin --------------------------------------- Diane Carlin /s/ Anne A. Hill --------------------------------------- Anne A. Hill 20 21 /s/ Shirley A. Hill ------------------------------ Shirley A. Hill /s/ James A. Hill ------------------------------ James A. Hill /s/ D. Michael Harris ------------------------------ D. Michael Harris 21 22 EXHIBIT INDEX 7.1 Agreement relating to the filing of joint acquisition statements as required by Rule 13d-1(f)(1) of the Securities Exchange Commission. 7.2 Voting Agreement among Reporting Persons dated August 22, 1997. 22 EX-99.7.1 2 AGREEMENT RELATING TO FILING OF JOINT ACQUISITION 1 AGREEMENT OF JOINT FILING The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained herein, but shall not be responsible for the completeness and accuracy concerning the other, except to the extent that it knows or has reason to believe that such information is inaccurate. Dated: September 2, 1997 TITANIC VENTURES LIMITED PARTNERSHIP By: Oceanic Research and Exploration Ltd. By: /s/ George Tulloch --------------------------------- George Tulloch, President /s/ George Tulloch --------------------------------- George Tulloch /s/ Allan H. Carlin --------------------------------- Allan H. Carlin /s/ Arnie Geller --------------------------------- Arnie Geller /s/ G. Michael Harris --------------------------------- G. Michael Harris /s/ Kurt Hothorn --------------------------------- Kurt Hothorn /s/ Cheryl Hothorn --------------------------------- Cheryl Hothorn Westgate Entertainment Corp. By: /s/ John A. Joslyn --------------------------------- John A. Joslyn, President /s/ Diane Carlin --------------------------------- Diane Carlin 2 /s/ Anne A. Hill - -------------------------------- Anne A. Hill /s/ Shirley A. Hill - -------------------------------- Shirley A. Hill /s/ James A. Hill - -------------------------------- James A. Hill /s/ D. Michael Harris - -------------------------------- D. Michael Harris 2 EX-99.7.2 3 VOTING AGREEMENT AMONG REPORTING PERSONS 1 VOTING AGREEMENT This Agreement made this 22nd day of August, 1997 by and between Allan Carlin, 239 East 79th Street, New York, New York 10021; Arnie Geller, 2660 Peachtree Rd., NW, Apt. 27G, Atlanta, Georgia 30305; G. Michael Harris, 2840 West Bay Drive, Suite 231, Bellaire Bluffs, Florida 33770; George Tulloch, 402 Riverside Drive, Fairfield, Connecticut 06430; and Kurt Hothorn, 160 Mead Avenue, Greenwich, Connecticut 06830 (hereinafter collectively referred to as the "Parties"). WHEREAS, the Parties hereto, and other shareholders (the "Shareholders") of RMS Titanic, Inc., a Florida corporation with its principal place of business located at 17 Battery Place, New York, New York 10004 (the "Company") who are signatories to Addendum 1 attached hereto, agree to vote their shares of the Common Stock that they each own and/or control (the"Shares) in favor of the election of each of the Parties as directors of the Company. WHEREAS, the Parties and Shareholders are of a singular mind regarding the need for increasing shareholder value and assuring the service of a qualified and competent Board of Directors, and therefore agree to the following: NOW, in consideration of the foregoing premises and the mutual promises herein contained, ten dollars ($10.00) and other good and valuable consideration, it is agreed as follows: 1. The Parties and Shareholders each agree, so long as they own and/or control Shares reflected on Addendum 1 annexed hereto, to vote such Shares in favor of the election of each of the Parties as directors of the Company. 2. The Parties and Shareholders each agree, so long as they own and/or control Shares, that they will not sell, barter, loan, give or otherwise assign their proxy to vote their Shares in any way to any third party unless a majority of the Parties give their written consent thereto. 3. The Parties and Shareholders each agree not to sell their Shares without first offering them to the Parties at a price equal to the average of the high bid and low offer (as quoted in the over-the-counter market by the OTC Bulletin Board, or NASDAQ) on the date such offer is made. Such offer shall be made by fax directed to the fax numbers on Addendum 2 attached hereto (the "Offer"), and shall include the address of the place to which payment for the Shares shall be delivered. Any Party who accepts the Offer shall send written confirmation (the "Notice of Purchase") to all Parties and/or to the selling Shareholder via fax within seventy-two (72) hours of receipt of the Offer (the "Offer Period"). In the event that the Offer is oversubscribed, the Shares that are the subject of the Offer shall be allocated among the Purchasers in proportion to the amount of Shares they each offered to purchase. Each Purchaser shall deliver payment for the purchase of the Shares to the selling shareholder within five (5) business days of issuance of the Notice to Purchase. Any portion of the Shares that are the subject of the Offer for which a Notice of Purchase has not been received may be sold by the selling shareholder only in the open public trading market through a broker's transaction for a period 2 of fourteen (14) calendar days immediately following the end of the Offer Period ("Public Market Sale"). Shares sold in a Public Market Sale shall not be subject to any of the terms or conditions of this Agreement. Any Shares which are the subject of a Notice of Offer shall not be sold in a Public Market Sale, or otherwise sold, transferred or assigned, after the conclusion of such fourteen (14) day period without first offering such Shares to the Parties in accordance with the provisions of this paragraph. Each Party and Shareholder shall have the right to change his fax number by notifying the other Parties of such change in writing via fax. Any Party or Shareholder who ceases to have a fax number shall notify the other Parties of his mailing address to which such notices shall be sent. 4. Any Shares acquired by a Party or a Shareholder after the dated hereof will be subject to this Agreement as if they were owned or controlled at the time of execution of this Agreement. Each Party and Shareholder shall give notice via fax to all Parties and Shareholders of their acquisition of Shares after the date hereof, specifying the date of acquisition, the number of shares acquired, and the amount paid for the acquisition of the Shares. Such notice shall be delivered within ten (10) calendar days of the date of the acquisition of the Shares. 5. This Agreement shall not apply to any Shares registered in the name of Titanic Ventures Limited Partnership as are subject to distribution to partners of TVLP, other than to George Tulloch or other TVLP partners who are signatories hereto; provided, however, that so long as George Tulloch, directly or indirectly, has voting control over such Shares prior to the distribution thereof to the TVLP partners, he shall vote such Shares in accordance with paragraph 1 above. 6. Notwithstanding any contrary provision of law, in the event that any Party or Shareholder utilizes any Shares as collateral or security for a loan, or to otherwise encumber or hypothecate any Shares, any sale of the Shares to a third party upon foreclosure of such interest shall be subject to all the provisions of paragraphs 2 and 3 hereof, including but not limited to, the rights of the Party or Shareholder to vote the Shares until their sale in compliance with the provisions of paragraph 3 hereof. Any third party who forecloses upon any security in the Shares shall not be entitled to acquire or otherwise own the Shares, but shall only be entitled to offer the Shares for sale to the Parties in accordance with paragraph 3, and to the public in the event that the Parties do not exercise their rights under paragraph 3. 7. This Agreement shall be effective and remain in force between the parties from the date hereof to and including August 31, 1999. 8. The Parties and Shareholders each agree that an appropriate legend shall be endorsed upon the certificates evidencing their ownership of Shares reflecting that the sale, transfer, encumbrance, hypothecation or other assignment of the Shares is subject to the terms and provisions of this Agreement. 9. This Agreement shall be binding on the parties and their respective representatives, heirs, successors and assigns, and shall be governed by and construed in 2 3 accordance with the laws of the State of New York, without giving effect to the conflict of laws principles thereof. 10. This Agreement embodies and constitutes the entire understanding between the parties with respect to the subject matter hereof, and all prior understandings, representations and statements, if any, whether oral or written, are merged into this Agreement. Neither this Agreement nor any provision hereof may be waived, modified, amended, discharged or terminated except by an instrument signed by the party against whom the enforcement of such waiver, modification, amendment, discharge of termination is sought, and then only to the extent set forth in such instrument. 11. In the event that any term, condition, covenant, agreement, requirement or provision herein contained shall be held by any court to be unenforceable, illegal, void or contrary to public policy, such term, condition, covenant, agreement, requirement or provision shall be of no effect whatsoever upon the binding force or effectiveness of any of the other terms hereof, it being the intention and declaration of the parties hereto that had they or any of them known of such unenforceability, illegality, invalidity or contrariety to public policy, they would have entered into a contract, each with the other, containing all of the other terms, conditions, covenants, agreements, requirements and provisions hereof. 12. This Agreement may be executed in counterparts, each of which when executed by the parties hereto shall be deemed an original and all of which together shall be deemed the same Agreement. /s/ Allan H. Carlin /s/ Arnie Geller - ----------------------------------- ---------------------------------- Allan H. Carlin Arnie Geller /s/ G. Michael Harris /s/ Kurt Hothorn - ----------------------------------- ---------------------------------- G. Michael Harris Kurt Hothorn /s/ George Tulloch - ----------------------------------- George Tulloch 3 4 ADDENDUM 1 I hereby agree to be bound to the terms and provisions of the foregoing Agreement by and among Allan H. Carlin, Arnie Geller, G. Michael Harris, Kurt Hothorn and George Tulloch with respect to the rights to sell, vote or otherwise transfer control over shares of RMS Titanic, Inc. ("RMST") Common Stock. /s/ Diane Carlin - ------------------------------------------------------------ Diane Carlin, owner of 197,500 shares of RMST Common Stock /s/ D. Michael Harris - ------------------------------------------------------------ D. Michael Harris, owner of 165,000 shares of RMST Common Stock /s/ Westgate Entertainment Corp. - ------------------------------------------------------------ Westgate Entertainment Corp., owner of 603,759 shares of RMST Common Stock, by John Joslyn, its President /s/ Cheryl Hothorn - ------------------------------------------------------------ Cheryl Hothorn, as joint owner with Kurt Hothorn, of 21,544 shares of RMST Common Stock. /s/ Anne A. Hill - ------------------------------------------------------------ Anne A. Hill, owner of 250,000 shares of RMST Common Stock (as to which Arnie Geller has been granted voting rights pursuant to proxy) /s/ Shirley A. Hill - ------------------------------------------------------------ Shirley A. Hill, owner of 25,000 shares of RMST Common Stock (as to which Arnie Geller has been granted voting rights pursuant to proxy) 4 5 ADDENDUM 1 (CONTINUED) /s/ James A. Hill - ------------------------------------------------------------- James A. Hill, owner of 25,000 shares of RMST Common Stock (as to which Arnie Geller has been granted voting rights pursuant to proxy) George Tulloch hereby acknowledges that he is the direct owner of 81,309 shares of RMST, the indirect owner of 4,582,167 shares of RMST that are registered in the name of TVLP (and which are subject to distribution to TVLP limited partners, of which he will retain ownership of a maximum of 511,152 shares of the Company owned by TVLP (as may be decreased for payment of TVLP's liabilities), and has voting control over, but not right to control the sale of, 1,202,112 RMST shares until June 17, 1999 by virtue of proxies granted to him by limited partners of TVLP (which voting power is subject to earlier termination upon the public market sale of such shares. /s/ George Tulloch --------------------------------------- George Tulloch Arnie Geller hereby acknowledges that he is the owner of 1,650,000 shares of RMST, and has voting control over, but not the right to control the sale of, an additional 300,000 shares of RMST by virtue of proxies granted to him by the following third parties: Anne A. Hill - 250,000 shares; Shirley A. Hill - 25,000 shares; and James A. Hill - 25,000 shares. /s/ Arnie Geller --------------------------------------- Arnie Geller G. Michael Harris hereby acknowledges that he is the owner of 165,000 shares of RMST. /s/ G. Michael Harris --------------------------------------- G. Michael Harris 5 6 ADDENDUM 1 (CONTINUED) Kurt Hothorn hereby acknowledges that he is the joint owner with Cheryl Hothorn of 21,544 shares of RMST. /s/ Kurt Hothorn ------------------------------------- Kurt Hothorn Allan H. Carlin hereby acknowledges that he owns no shares of RMST. /s/ Allan H. Carlin ------------------------------------- Allan H. Carlin 6 7 ADDENDUM 2 Allan H. Carlin - (212) 482-1912 Arnie Geller - (770) 541-0720 G. Michael Harris - (813) 585-6078 Kurt Hothorn - (203) 531-4657 George Tulloch - (212) 482-1912 Diane Carlin - (212) 482-1912 D. Michael Harris - Westgate Entertainment Corp. - (818) 238-0016 7 -----END PRIVACY-ENHANCED MESSAGE-----