-----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, CbmDLabZ17eOHmavG/Di2WVRnrZC2M3w5uzseK2wnB2YEJbNkgw/mo0VR67dZBA4 givUTDeqxvLUR4p3spO9JA== 0001029869-97-000884.txt : 19970717 0001029869-97-000884.hdr.sgml : 19970717 ACCESSION NUMBER: 0001029869-97-000884 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19970716 SROS: NONE GROUP MEMBERS: CALVIN G. HORI, SOLE SHAREHOLDER GROUP MEMBERS: HORI CAPITAL MANAGEMENT INC GROUP MEMBERS: PLATINUM PARTNERS, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KURZWEIL APPLIED INTELLIGENCE INC /DE/ CENTRAL INDEX KEY: 0000769191 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 042815079 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-43893 FILM NUMBER: 97641434 BUSINESS ADDRESS: STREET 1: 411 WAVERLEY OAKS ROAD CITY: WALTHAM STATE: MA ZIP: 02154 BUSINESS PHONE: 6178935151 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HORI CAPITAL MANAGEMENT INC CENTRAL INDEX KEY: 0001042483 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: ONE WASHINGTON MALL STREET 2: 7TH FL CITY: BOSTON STATE: MA ZIP: 02108 BUSINESS PHONE: 6173673800 MAIL ADDRESS: STREET 1: ONE WASHINGTON MALL STREET 2: 7TH FL CITY: BOSTON STATE: MA ZIP: 02108 SC 13D 1 FORM SC 13D ------------------------------ OMB APPROVAL ------------------------------ OMB Number: 3235-0145 Expires: October 31, 1997 Estimated average burden hours per response ..... 14.90 ------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. )* Kurzweil Applied Intelligence, Inc. ----------------------------------------------------------- (Name of Issuer) Common Stock ----------------------------------------------------------- (Title of Class of Securities) 501321103 ----------------------------------------------------------- (CUSIP NUMBER) Calvin Hori, Hori Capital Management, Inc., One Washington Mall, Boston, MA 02108 (617) 367-3800 ----------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 13, 1996 ----------------------------------------------------------- (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(b)(3) or (4), check the following box [ ]. Check the following box if a fee is being paid with the statement [ ]. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities and 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). SCHEDULE 13D |-----------------------| |--------------------------| |CUSIP No. 501321103 | | Page 2 of 10 Pages | |-----------------------| |--------------------------| |----------------------------------------------------------------------------| | 1 | NAME OF REPORTING PERSON | | | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | | | | | Platinum Partners, L.P. | |---------|------------------------------------------------------------------| | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]| | | (b) [ ]| |---------|------------------------------------------------------------------| | 3 | SEC USE ONLY | | | | |---------|------------------------------------------------------------------| | 4 | SOURCE OF FUNDS* | | | | | | WC | |---------|------------------------------------------------------------------| | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED | | | PURSUANT TO ITEMS 2(d) or 2(e) [ ] | |---------|------------------------------------------------------------------| | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | | | | Massachusetts | |----------------|-----|-----------------------------------------------------| | | 7 | SOLE VOTING POWER | | | | 618,500 | | NUMBER OF |-----|-----------------------------------------------------| | SHARES | 8 | SHARED VOTING POWER | | BENEFICIALLY | | 0 | | OWNED BY EACH |-----|-----------------------------------------------------| | REPORTING | 9 | SOLE DISPOSITIVE POWER | | PERSON | | 618,500 | | WITH |-----|-----------------------------------------------------| | | 10 | SHARED DISPOSITIVE POWER | | | | 0 | |----------------------------------------------------------------------------| | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | | | | 618,500 | |---------|------------------------------------------------------------------| | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) | | | EXCLUDES CERTAIN SHARES* [ ] | | | | |---------|------------------------------------------------------------------| | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | | | | 6.8% | |---------|------------------------------------------------------------------| | 14 | TYPE OF REPORTING PERSON* | | | | | | PN | |----------------------------------------------------------------------------| 2 SCHEDULE 13D |-----------------------| |--------------------------| |CUSIP No. 501321103 | | Page 3 of 10 Pages | |-----------------------| |--------------------------| |----------------------------------------------------------------------------| | 1 | NAME OF REPORTING PERSON | | | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | | | | | Hori Capital Management, Inc. | |---------|------------------------------------------------------------------| | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]| | | (b) [ ]| |---------|------------------------------------------------------------------| | 3 | SEC USE ONLY | | | | |---------|------------------------------------------------------------------| | 4 | SOURCE OF FUNDS* | | | | | | WC | |---------|------------------------------------------------------------------| | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED | | | PURSUANT TO ITEMS 2(d) or 2(e) [ ] | |---------|------------------------------------------------------------------| | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | | | | Massachusetts | |----------------|-----|-----------------------------------------------------| | | 7 | SOLE VOTING POWER | | | | 618,500 | | NUMBER OF |-----|-----------------------------------------------------| | SHARES | 8 | SHARED VOTING POWER | | BENEFICIALLY | | 0 | | OWNED BY EACH |-----|-----------------------------------------------------| | REPORTING | 9 | SOLE DISPOSITIVE POWER | | PERSON | | 618,500 | | WITH |-----|-----------------------------------------------------| | | 10 | SHARED DISPOSITIVE POWER | | | | 0 | |----------------------------------------------------------------------------| | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | | | | 618,500 | |---------|------------------------------------------------------------------| | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) | | | EXCLUDES CERTAIN SHARES* [ ] | | | | |---------|------------------------------------------------------------------| | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | | | | 6.8% | |---------|------------------------------------------------------------------| | 14 | TYPE OF REPORTING PERSON* | | | | | | CO | |----------------------------------------------------------------------------| 3 SCHEDULE 13D |-----------------------| |--------------------------| |CUSIP No. 501321103 | | Page 4 of 10 Pages | |-----------------------| |--------------------------| |----------------------------------------------------------------------------| | 1 | NAME OF REPORTING PERSON | | | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | | | | | Calvin G. Hori, Sole Shareholder | |---------|------------------------------------------------------------------| | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]| | | (b) [ ]| |---------|------------------------------------------------------------------| | 3 | SEC USE ONLY | | | | |---------|------------------------------------------------------------------| | 4 | SOURCE OF FUNDS* | | | | | | WC | |---------|------------------------------------------------------------------| | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED | | | PURSUANT TO ITEMS 2(d) or 2(e) [ ] | |---------|------------------------------------------------------------------| | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | | | | United States Citizen | |----------------|-----|-----------------------------------------------------| | | 7 | SOLE VOTING POWER | | | | 618,500 | | NUMBER OF |-----|-----------------------------------------------------| | SHARES | 8 | SHARED VOTING POWER | | BENEFICIALLY | | 0 | | OWNED BY EACH |-----|-----------------------------------------------------| | REPORTING | 9 | SOLE DISPOSITIVE POWER | | PERSON | | 618,500 | | WITH |-----|-----------------------------------------------------| | | 10 | SHARED DISPOSITIVE POWER | | | | 0 | |----------------------------------------------------------------------------| | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | | | | 618,500 | |---------|------------------------------------------------------------------| | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) | | | EXCLUDES CERTAIN SHARES* [ ] | | | | |---------|------------------------------------------------------------------| | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | | | | 6.8% | |---------|------------------------------------------------------------------| | 14 | TYPE OF REPORTING PERSON* | | | | | | IN | |----------------------------------------------------------------------------| 4 Item 1. Security and Issuer This Report on schedule 13D relates to shares of common stock, no par value (the "Common Stock"), of Kurzweil Applied Intelligence Inc. (the "Company"), whose principal executive offices are located at 411 Waverley Oaks Road, Waltham, MA 02154. Item 2. Identity and Background This Report is filed by Platinum Partners, L.P., a Massachusetts limited partnership (the "Partnership"), having its principal place of business and executive offices at c/o Hori Capital Management, Inc., One Washington Mall, 7th Floor, Boston, MA 02108; and Hori Capital Management, Inc., a Massachusetts corporation and the sole General Partner of the Partnership (the "General Partner") having its principal place of business and executive offices at One Washington Mall, 7th Floor, Boston, MA 02108; and Mr. Calvin G. Hori, the sole shareholder, director and President of the General Partner ("Mr. Hori"), having his business address at c/o Hori Capital Management, Inc., One Washington Mall, 7th Floor, Boston, MA 02108 (collectively, the "Reporting Persons"). The principal business of each Reporting Person is to make, manage, supervise, and dispose of investments in a variety of businesses. During the last five years, the Reporting Persons have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), and have not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and are not, as a result of any such proceeding, 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. Mr. Hori is a United States citizen. Item 3. Source and Amount of Funds or Other Consideration The source of funds for the transactions described in Item 5(c) were assets of the Partnership. Item 4. Purpose of Transaction The Partnership acquired the Common Stock described in Item 5(c) for investment purposes. None of the Reporting Persons have any plans or proposals which relate to or would result in: a. The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer; b. An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; 5 c. A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; d. 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; e. Any material change in the present capitalization or dividend policy of the issuer; f. Any other material change in the issuer's business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any change in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940; g. Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; h. Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; i. A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 1(g)(4) of the Securities Exchange Act of 1934; or j. Any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer a. As of December 13, 1996, the Partnership may be deemed to beneficially own 618,500 shares of Common Stock of the Company. Based upon there being 9,059,448 shares of Common Stock outstanding, the shares of Common Stock which the Partnership may be deemed to beneficially own represents approximately 6.8% of the outstanding shares of Common Stock of the Company. As of December 13, 1996, the General Partner may be deemed to beneficially own 618,500 shares of Common Stock of the Company by virtue of it being the General Partner of the Partnership. Based upon there being 9,059,448 shares of Common Stock outstanding, the shares of Common Stock which the General Partner may be deemed to beneficially own represents approximately 6.8% of the outstanding shares of Common Stock of the Company. As of December 13, 1996, Mr. Hori may be deemed to beneficially own 618,500 shares of Common Stock of the 6 Company by virtue of his being the sole shareholder of the General Partner. Based upon there being 9,059,448 shares of Common Stock outstanding the shares of Common Stock which Mr. Hori may be deemed to beneficially own represents approximately 6.8% of the outstanding shares of Common Stock of the Company. b. In accordance with the Agreement of Limited partnership, the General partner has the sole power to vote and the sole power to dispose of the shares of Common Stock of the Company held by the Partnership. c. The Partnership has made the following purchases of shares of Common Stock: ------------------------------------------------------------- Aggregate Transaction Price Per Purchase Date # of Shares Share Price ------------------------------------------------------------- 7/12/96 30,000 2.12583 63,775 ------------------------------------------------------------- 7/15/96 25,000 2.31350 57,838 ------------------------------------------------------------- 7/16/96 30,000 2.31333 69,400 ------------------------------------------------------------- 7/17/96 10,000 2.69000 26,900 ------------------------------------------------------------- 7/18/96 15,000 2.93917 44,088 ------------------------------------------------------------- 7/19/96 60,000 3.02122 181,273 ------------------------------------------------------------- 7/22/96 20,000 3.00125 60,025 ------------------------------------------------------------- 7/23/96 5,000 3.00500 15,025 ------------------------------------------------------------- 7/24/96 10,000 2.56500 25,650 ------------------------------------------------------------- 7/25/96 10,000 2.87750 28,775 ------------------------------------------------------------- 7/26/96 20,000 2.81375 56,275 ------------------------------------------------------------- 7/29/96 35,000 2.75071 96,275 ------------------------------------------------------------- 7/30/96 10,000 2.75250 27,525 ------------------------------------------------------------- 7/31/96 10,000 2.62750 26,275 ------------------------------------------------------------- 8/05/96 10,000 2.50250 25,025 ------------------------------------------------------------- 8/08/96 5,000 2.63000 13,150 ------------------------------------------------------------- 8/13/96 10,000 2.62750 26,275 ------------------------------------------------------------- 8/15/96 5,000 2.69250 13,463 ------------------------------------------------------------- 8/16/96 15,000 2.68917 40,338 ------------------------------------------------------------- 7 -------------------------------------------------------------- Aggregate Transaction Price Per Purchase Date # of Shares Share Price -------------------------------------------------------------- 8/19/96 13,000 2.62692 34,150 -------------------------------------------------------------- 8/20/96 60,000 2.37542 142,525 -------------------------------------------------------------- 8/22/96 10,000 2.56500 25,650 -------------------------------------------------------------- 8/30/96 10,000 2.62750 26,275 -------------------------------------------------------------- 9/05/96 10,000 2.56500 25,650 -------------------------------------------------------------- 9/09/96 10,000 2.31500 23,150 -------------------------------------------------------------- 9/23/96 75,000 2.12533 159,400 -------------------------------------------------------------- 10/11/96 5,000 3.56750 17,838 -------------------------------------------------------------- 10/14/96 12,500 3.68700 46,088 -------------------------------------------------------------- 10/15/96 10,000 3.66750 36,675 -------------------------------------------------------------- 10/31/96 10,000 3.75250 37,525 -------------------------------------------------------------- 11/01/96 5,000 3.75500 18,775 -------------------------------------------------------------- 11/01/96 6,000 3.82937 22,976 -------------------------------------------------------------- 11/07/96 37,000 4.00057 148,021 -------------------------------------------------------------- 11/14/96 5,000 3.88000 19,400 -------------------------------------------------------------- 12/13/96 5,000 3.69250 18,463 -------------------------------------------------------------- All transactions were made in the open market on NASDAQ. d. The Partnership is a limited partnership established in accordance with the provisions of the Massachusetts Uniform Limited Partnership Act. Each Member of the Partnership is entitled to receive certain distributions from the Partnership's assets as specified in the Partnership's governing documents. These distributions made from the Partnership's assets may include funds received by the Partnership from dividends declared with respect to the shares of Common Stock held by the Partnership or from the sale of such shares of Common Stock. e. Not applicable. The filing of this statement shall not be construed as an admission that any of the Reporting Persons are, for the purposes of Sections 13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial owners of any securities covered by this statement. 8 Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer There are no contracts, arrangements, understandings or relationships (legal or otherwise) between or among any of the Reporting Persons and any other person with respect to any securities of the Company other than the governing documentation of the Partnership. Item 7. Material to be Filed as Exhibits Exhibit 1 - Agreement regarding filing of joint Schedule 13D. 9 Signature After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. EXECUTED as of the 15th day of July, 1997. PLATINUM PARTNERS, L.P. By: /s/ Calvin G. Hori ---------------------------- Calvin G. Hori, President of Hori Capital Management, Inc., General Partner HORI CAPITAL MANAGEMENT, INC. By: /s/ Calvin G. Hori ---------------------------- Calvin G. Hori, President By: /s/ Calvin G. Hori ---------------------------- Calvin G. Hori 10 EX-99.1 2 AGREEMENT Exhibit 1 --------- AGREEMENT Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that only one statement containing the information required by Schedule 13D need be filed with respect to the ownership by each of the undersigned of the shares of Common Stock of Kurzweil Applied Intelligence, Inc., Inc. EXECUTED as of the 15th day of July, 1997. PLATINUM PARTNERS, L.P. By: /s/ Calvin G. Hori ---------------------------- Calvin G. Hori, President of Hori Capital Management, Inc., General Partner HORI CAPITAL MANAGEMENT, INC. By: /s/ Calvin G. Hori ---------------------------- Calvin G. Hori, President /s/ Calvin G. Hori ---------------------------- Calvin G. Hori -----END PRIVACY-ENHANCED MESSAGE-----