0001045969-01-501113.txt : 20011008
0001045969-01-501113.hdr.sgml : 20011008
ACCESSION NUMBER: 0001045969-01-501113
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20010918
GROUP MEMBERS: JACK A. NORQUAL
GROUP MEMBERS: JOHN L. MORGAN
GROUP MEMBERS: KIRK A. MACKENZIE
GROUP MEMBERS: RUSH RIVER GROUP LLC
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: GROW BIZ INTERNATIONAL INC
CENTRAL INDEX KEY: 0000908315
STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900]
IRS NUMBER: 411622691
STATE OF INCORPORATION: MN
FISCAL YEAR END: 1226
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-46803
FILM NUMBER: 1739308
BUSINESS ADDRESS:
STREET 1: 2400 DAHLBERG DRIVE
CITY: GOLDEN VALLEY
STATE: MN
ZIP: 55422-4837
BUSINESS PHONE: 6125208500
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: MORGAN JOHN L
CENTRAL INDEX KEY: 0000900704
STANDARD INDUSTRIAL CLASSIFICATION: []
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: C/O GROW BIZ INTERNATIONAL, INC.
STREET 2: 4200 DAHLBERG DRIVE
CITY: MINNEAPOLIS
STATE: MN
ZIP: 55422-4817
BUSINESS PHONE: 6128299331
MAIL ADDRESS:
STREET 1: C/O GROW BIZ INTERNATIONAL, INC
STREET 2: 4200 DAHLBERG DRIVE
CITY: MINNEAPOLIS
STATE: MN
ZIP: 55422-4837
SC 13D/A
1
dsc13da.txt
SCHEDULE 13D AMENDMENT NO. 3
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Grow Biz International, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
--------------------------------------------------------------------------------
(Title of Class of Securities)
908315
--------------------------------------------------------------------------------
(CUSIP Number)
John L. Morgan
Grow Biz International, Inc.
4200 Dahlberg Drive
Minneapolis, Minnesota 55422
(763) 520-8500
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 5, 2001
--------------------------------------------------------------------------------
(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 of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 8 Pages
SCHEDULE 13D
---------------- -----------------
CUSIP No. 908315 Page 2 of 8 Pages
---------------- -----------------
------------- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
John L. Morgan
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(SEE INSTRUCTIONS) (b) [ ]
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
PF
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mr. Morgan is a citizen of the United States
--------------------- ---------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 595,164 (includes 120,000 shares purchasable
BENEFICIALLY upon exercise of options)
OWNED BY ---------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING 424,300 (includes 200,000 shares purchasable
PERSON upon exercise of warrants)
WITH ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
595,164 (includes 120,000 shares purchasable
upon exercise of options)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
424,300 (includes 200,000 shares purchasable
upon exercise of warrants)
------------- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,019,464 (includes 320,000 shares purchasable upon exercise of
warrants and options)
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [X]
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.8%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
-------------------------------------------------------------------------------
SCHEDULE 13D
---------------- -----------------
CUSIP No. 908315 Page 3 of 8 Pages
---------------- -----------------
------------- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
Rush River Group LLC, a Minnesota limited liability company;
FEIN: 41-1920090
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(SEE INSTRUCTIONS) (b) [ ]
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Rush River Group LLC is a Minnesota limited liability company
--------------------- ---------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 420,000 (includes 200,000 shares purchasable
BENEFICIALLY upon exercise of warrants)
OWNED BY ---------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON ---------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
420,000 (includes 200,000 shares purchasable
upon exercise of warrants)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
------------- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
420,000 (includes 200,000 shares purchasable upon exercise of
warrants)
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [X]
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.5%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
-------------------------------------------------------------------------------
SCHEDULE 13D
---------------- -----------------
CUSIP No. 908315 Page 4 of 8 Pages
---------------- -----------------
------------- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
Kirk A. MacKenzie
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(SEE INSTRUCTIONS) (b) [ ]
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
PF
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mr. MacKenzie is a citizen of the United States
--------------------- ---------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 175,000 (includes 5,000 shares purchasable
BENEFICIALLY upon exercise of options)
OWNED BY ---------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING 420,000 (includes 200,000 shares purchasable
PERSON upon exercise of warrants)
WITH ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
175,000 (includes 5,000 shares purchasable
upon exercise of options)
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
420,000 (includes 200,000 shares purchasable
upon exercise of warrants)
------------- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
595,000 (includes 205,000 shares purchasable upon exercise of
warrants and options)
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [X]
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.6%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
-------------------------------------------------------------------------------
SCHEDULE 13D
---------------- -----------------
CUSIP No. 908315 Page 5 of 8 Pages
---------------- -----------------
------------- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
Jack A. Norqual
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(SEE INSTRUCTIONS) (b) [ ]
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
PF
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mr. Norqual is a citizen of the United States
--------------------- ---------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 70,000
BENEFICIALLY ---------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 420,000 (includes 200,000 shares purchasable
REPORTING upon exercise of warrants)
PERSON ---------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
70,000
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
420,000 (includes 200,000 shares purchasable
upon exercise of warrants)
------------- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
490,000 (includes 200,000 shares purchasable upon exercise
of warrants)
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [X]
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.8%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
-------------------------------------------------------------------------------
Item 1. Security and Issuer.
This Schedule 13D (the "Statement") relates to the Common Stock, no par
value per share (the "Common Stock"), of Grow Biz International, Inc., a
Minnesota corporation (the "Company"). The principal executive office of the
Company is located at 4200 Dahlberg Drive, Minneapolis, MN 55422-4837.
Item 2. Identity and Background.
No change.
Item 3. Source and Amount of Funds or Other Consideration.
From February 23, 2001 through September 15, 2001, John L. Morgan
acquired 41,400 shares in the open market using personal funds in the total
amount of approximately $205,150.
On September 5, 2001 Kirk A. MacKenzie acquired 100,000 shares using
personal funds in the total amount of approximately $750,000.
Item 4. Purpose of Transaction.
John L. Morgan and Kirk A. MacKenzie acquired shares of Common Stock
that are the subject of this Schedule 13D/A for investment purposes and options
to purchase shares of Common Stock have vested. The Reporting Persons may,
individually or collectively, increase their investments in the Company through
the acquisition of additional shares of Common Stock in the open market or
otherwise, subject to availability at prices deemed favorable by them.
Alternatively, they may decide to sell any or all of the shares of Common Stock
beneficially owned by them in the open market or otherwise. The foregoing
represents the range of activities presently contemplated by the Reporting
Persons. Their plans, proposals and activities are subject to change at any time
depending on, among other things, the actions of the Company's Board of
Directors, the Company's performance and conditions in the public securities
markets.
Except as set forth above, none of the Reporting Persons has any
present plans or intentions that would result in or relate to any of the
transactions described in subparagraphs (a) through (j) of Item 4 of Schedule
13D.
Item 5. Interest in Securities of the Issuer.
(a) Set forth below are the shares of Common Stock of the Company
beneficially owned by each of the Reporting Persons and the percentage of the
total outstanding shares as of the date of this filing. The foregoing percentage
is based upon 5,392,254 shares of Common Stock outstanding on August 7, 2001, as
set forth in the Company's Quarterly Report on Form 10-Q for the quarter ended
June 30, 2001.
Page 6 of 8
Percentage of Total
Reporting Person No. Shares Owned Shares Outstanding
---------------- ---------------- -------------------
John L. Morgan 1,019,464(1)(2)(3)(5) 17.8%
Rush River Group LLC 420,000(3) 7.5%
Kirk A. MacKenzie 595,000(1)(3)(4) 10.6%
Jack A. Norqual 490,000(1)(3) 8.8%
----------------
(1) Includes beneficial ownership of shares and warrant held by Rush River
Group LLC.
(2) Includes 4,300 shares held by Sheila Morgan, his wife, for which he
disclaims beneficial ownership.
(3) Includes warrant to purchase 200,000 shares of Common Stock.
(4) Includes 5,000 shares purchasable upon exercise of options.
(5) Includes 120,000 shares purchasable upon exercise of options.
(b) With the exception of 4,300 shares held by Sheila Morgan, his wife,
Mr. Morgan has the sole power to vote and dispose of the shares of Common Stock
which he beneficially owns. Mr. Morgan also has shared voting and dispositive
power, together with Messrs. MacKenzie and Norqual, over the shares of the
Company beneficially owned by Rush River, due to their respective positions as
members of the LLC. Rush River holds 220,000 shares of record and a warrant to
purchase 200,000 shares of the Company and shares voting and dispositive power
to vote or dispose of such shares with each of the other Reporting Persons. Each
of Messrs. Morgan, MacKenzie and Norqual disclaim any beneficial ownership of
the shares held by the other persons, either individually or in their respective
capacities as members of Rush River. Mr. Morgan disclaims beneficial ownership
with respect to the 4,300 shares held by Sheila Morgan, his wife.
(c) On May 3, 2001 Mr. MacKenzie beneficially owned vested options to
acquire 5,000 shares of Common Stock. On September 5, 2001 Mr. MacKenzie
purchased 100,000 shares of Common Stock for approximately $750,000.
On March 22, 2001, Mr. Morgan held vested options to acquire 120,000
shares of Common Stock. John L. Morgan made the following open market purchases
since the most recent filing on Schedule 13D:
Purchase Price
Trade Date No. of Shares Per Share
---------- ------------- ---------
2/23/01 30,000 $4.625
4/3/01 2,000 $4.50
4/3/01 3,000 $4.50
5/21/01 1,200 $5.60
5/21/01 300 $5.70
5/21/01 100 $5.80
5/21/01 100 $6.00
5/21/01 500 $6.02
8/21/01 3,000 $7.50
9/6/01 1,000 $7.30
9/10/01 200 $7.40
Page 7 of 8
Other than as described above, the Reporting Persons have not effected any
transactions in the securities of the Company since the most recent filing on
Schedule 13D.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
No change.
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.
Dated: September 17, 2001
/s/ John L. Morgan
--------------------------------------
John L. Morgan, individually
Rush River Group LLC
By: /s/ John L. Morgan
----------------------------------
John L. Morgan
Its: Member
/s/ Kirk A. MacKenzie
--------------------------------------
Kirk A. MacKenzie, individually
/s/ Jack A. Norqual
--------------------------------------
Jack A. Norqual, individually