SC 13D 1 fogcuttercolemansc13d.txt FORM SC13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* Fog Cutter Capital Group Inc. ---------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.0001 per share -------------------------------------------------- (Title of Class of Securities) 971892104 ------------------------------------------------------------------- (CUSIP Number) Clarence B. Coleman 2401 Merced Street, Suite 300 San Leandro, CA 94577 (510) 614-5555 --------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 10, 2002 --------------------------------------------------------------------------- (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 for other parties to whom copies are to be sent. (Page 1of 8 pages) --------------------- *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 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). CUSIP No. 971892104 SCHEDULE 13D Page 2 of 8 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSON SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clarence B. Coleman ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (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 0 NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 935,089 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 935,089 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 935,089 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.5% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT* CUSIP No. 971892104 SCHEDULE 13D Page 3 of 8 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSON SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Joan F. Coleman ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (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 0 NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 935,089 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 935,089 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 935,089 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.5% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT* CUSIP No. 971892104 Page 4 of 8 Pages Clarence B. Coleman and Joan F. Coleman (the "Reporting Persons") hereby file this Amendment No. 1 (the "Statement") to amend and supplement the statement on Schedule 13D originally filed on November 1, 1999. ITEM 1. SECURITY AND ISSUER Fog Cutter Capital Group Inc. Common Stock ($.0001 Par Value) Fog Cutter Capital Group Inc. 1410 SW Jefferson Portland, OR 97201 ITEM 2. IDENTITY AND BACKGROUND This Statement is being filed by the Reporting Persons, both citizens of the United States. The Reporting Persons are husband and wife. The Reporting Persons are sophisticated investors. Mr. Coleman has more than 50 years of investing experience. Mr. Coleman is a private investor and Mrs. Coleman is a housewife. The business and mailing address of each of the Reporting Persons is 2401 Merced Street, Suite 300, San Leandro, CA 94577. Neither of the Reporting Persons has, during the last five years, been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors). Neither of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoinging future violations of, or prohibiting or mandating activities subject to federal or state securities laws or finding any violations with respect to such laws. Information with respect to each of the Reporting Persons is given solely by such Reporting Person and neither Reporting Person has responsibility for the accuracy or completeness of information supplied by the other Reporting Person. CUSIP No. 971892104 Page 5 of 8 Pages ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The source and amount of funds (including commissions) used by each of the Reporting Persons to acquire the 200,000 shares of Common Stock reported in Item 5 below was approximately $450,000. The Reporting Persons acquired the shares of Common Stock in consideration of the settlement of a dispute with a third party. ITEM 4. PURPOSE THE TRANSACTION. The Reporting Persons acquired the 200,000 shares of the Common Stock in consideration of the settlement of a dispute with a third party. These shares are owned by the Reporting Persons as an investment in the Issuer and not with the present intention of acquiring control of the Company's business. Other than as described above, neither of the Reporting Persons has any present plans or proposals which would relate to or would result in any of the matters referred to in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons reserve the right, depending on other relevant factors, to purchase additional shares of Common Stock or to dispose of all or a portion of his or her holdings of Common Stock or change his or her intention with respect to any and all of the matters referred to in this Item 4, but neither of the Reporting Persons have a present intention of doing so. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Set forth below is certain formation concerning all transactions in the Common Stock in which the Reporting Persons have engaged during the past 60 days. Transaction Date Number of Shares Purchased Price Per Share ---------------- -------------------------- --------------- 10/10/02 200,000 $2.25 Transaction Date Number of Shares Sold Price Per Share ---------------- --------------------- --------------- 10/14/02 100 $3.10 10/17/02 1,000 $3.10 10/21/02 1,000 $3.10 (a) As of the date of this filing, the Reporting Persons are the beneficial owners of an aggregate of 935,089 shares of Common Stock representing 9.5% of the total class outstanding. (b) The Reporting Persons share voting and dispositive power with respect to the 935,089 shares of the Common Stock owned by them. CUSIP No. 971892104 Page 6 of 8 Pages ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Except as described herein, neither of the Reporting Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with respect to any securities of the Issuer, including, but not limited to any agreements concerning (i) transfer or voting of any securities of the Issuer, (ii) finder's fees, (iii) joint ventures, (iv) loan or option arrangements, (v) puts or calls, (vi) guaranties or profits, (vii) division of profits or loss or (viii) the giving or withholding of proxies. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit No. 1 Joint Filing Agreement CUSIP No. 971892104 Page 7 of 8 Pages Signature The Power of Attorney appointing Clarence B. Coleman as attorney-in-fact and agent of Joan F. Coleman is incorporated by reference from the Schedule 13D filed by Mr. and Mrs. Coleman on November 1, 1999. 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. October 30, 2002 ------------------------------------- (Date) /s/ Clarence B. Coleman ------------------------------------- (Signature) Clarence B. Coleman ------------------------------------- (Name/Title) October 30, 2002 ------------------------------------- (Date) /s/ Clarence B. Coleman ------------------------------------- (Signature) Clarence B. Coleman, Attorney-in-Fact And Agent of Joan F. Coleman ------------------------------------- (Name/Title) CUSIP No. 971892104 Page 8 of 8 Pages SCHEDULE 13D EXHIBIT NO. 1 JOINT FILING AGREEMENT Each of the undersigned hereby agrees that the Schedule 13D/A, to which this Agreement is attached as Exhibit 1, and all amendments thereto may be filed on behalf of each such persons. /s/ Clarence B. Coleman Dated: October 30, 2002 ----------------------------------------- Clarence B. Coleman /s/ Clarence B. Coleman Dated: October 30, 2002 ----------------------------------------- Clarence B. Coleman, Attorney-in-Fact and Agent of Joan F. Coleman