-----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, KGXvsOQBh9Oq3Cs2IMGBtSrG6I7vU0tM/CC25hQdtQGZ4BZGyt8aB2m3Z+6TIq61 bIMiyMCaDQN6nMIBzTIuuA== 0001047469-98-015389.txt : 19980417 0001047469-98-015389.hdr.sgml : 19980417 ACCESSION NUMBER: 0001047469-98-015389 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980416 SROS: NASD GROUP MEMBERS: BRADLEY C. HOLT GROUP MEMBERS: HARRY CARLSON GROUP MEMBERS: HOLT BRADLEY C GROUP MEMBERS: JOHN BEATTIE GROUP MEMBERS: MR. AND MRS. GARY HOFSTAD GROUP MEMBERS: MR. AND MRS. MAAS VAN DUSSCHOTEM SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DESTRON FEARING CORP /DE/ CENTRAL INDEX KEY: 0000881283 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 841079037 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-42286 FILM NUMBER: 98595722 BUSINESS ADDRESS: STREET 1: 490 VILLAUME AVE CITY: S ST PAUL STATE: MN ZIP: 55075-2445 BUSINESS PHONE: 6124551621 MAIL ADDRESS: STREET 1: 490 VILLAUME AVE CITY: 490 VILLAUME AVE STATE: MN ZIP: 55075 FORMER COMPANY: FORMER CONFORMED NAME: DESTRON IDI INC DATE OF NAME CHANGE: 19930328 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HOLT BRADLEY C CENTRAL INDEX KEY: 0001057985 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: C/O LIONS GATE CAPITAL STREET 2: 1421 E WAYZATA BLVD CITY: WAYZATA STATE: MN ZIP: 55391 BUSINESS PHONE: 6124752368 MAIL ADDRESS: STREET 1: C/O LIONS GATE CAPITAL STREET 2: 1421 E WAYZATA BLVD CITY: WAYZATA STATE: MN ZIP: 55391 SC 13D 1 SC 13D SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 DESTRON FEARING CORPORATION 490 Villaume Avenue South St. Paul, Minnesota 55075 ------------------------------- (Name of Issuer) Common Stock ------------ (Title of Class of Securities) 250637-10-5 ----------- (CUSIP Number) John R. Beattie, Esq. Thomas J. Puff, Esq. Messerli & Kramer, P.A. 1800 Fifth Street Towers 150 South Fifth Street Minneapolis, Minnesota 55402 (612) 672-3731 -------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 9, 1998 ------------- (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 this statement / /. (Cover pages continued on next 21 pages) 1 of 22 CUSIP No. 250637-10-5 ----------- - ------------------------------------------------------------------------------ 1) Names of Reporting Persons or I.R.S. Identification Nos. of Above Persons Bradley C. Holt -------------------------------------------------------------------- - ------------------------------------------------------------------------------ 2) Check the Appropriate Box if a Member of a Group (See Instructions) a) /X/ --------------------------------------------------------------- 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) N/A ------------------------------------------------ - ------------------------------------------------------------------------------ 6) Citizenship or Place of Organization United States - ------------------------------------------------------------------------------ Number of Shares 7) Sole Voting Power 243,500 Beneficially ----------------------------- Owned by Each 8) Shared Voting Power None Reporting Person --------------------------- With: 9) Sole Dispositive Power 243,500 ------------------------ 10) Shared Dispositive Power None ---------------------- 2 of 22 11) Aggregate Amount Beneficially Owned by Each Reporting Person 243,500 ------- - ------------------------------------------------------------------------------ 12) Check if the Aggregate Amount in Row 11 Excludes Certain Shares (See Instructions) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 13) Percent of Class Represented by Amount in Row 11 1.8% of Common Stock outstanding ------------------------------------------------------------- - ------------------------------------------------------------------------------ 14) Type of Reporting Person (See Instructions) IN ------------------------- - ------------------------------------------------------------------------------ 3 of 22 CUSIP No. 250637-10-5 ------------------------- - ------------------------------------------------------------------------------ 3) Names of Reporting Persons or I.R.S. Identification Nos. of Above Persons Mr. and Mrs. Maas van Dusschotem --------------------------------------------------------------- - ------------------------------------------------------------------------------ 4) Check the Appropriate Box if a Member of a Group (See Instructions) a) /X/ --------------------------------------------------------------- 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) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 6) Citizenship or Place of Organization The Netherlands ------------------------------- - ------------------------------------------------------------------------------ Number of 7) Sole Voting Power 265,000 Shares ------------------------ Beneficially 8) Shared Voting Power None Owned by ----------------------- Each 9) Sole Dispositive Power 265,000 Reporting -------------------- Person With: 10) Shared Dispositive Power None ------------------ - ------------------------------------------------------------------------------ 4 of 22 11) Aggregate Amount Beneficially Owned by Each Reporting Person 265,000 ------- - ------------------------------------------------------------------------------ 12) Check if the Aggregate Amount in Row 11 Excludes Certain Shares (See Instructions) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 13) Percent of Class Represented by Amount in Row 11 2.0% of Common Stock outstanding ---------------------------------------------------------------- - ------------------------------------------------------------------------------ 14) Type of Reporting Person (See Instructions) IN ------------------------ - ------------------------------------------------------------------------------ 5 of 22 CUSIP No. 250637-10-5 ------------------------ - ------------------------------------------------------------------------------ 5) Names of Reporting Persons or I.R.S. Identification Nos. of Above Persons John R. Beattie -------------------------------------------------------------------- - ------------------------------------------------------------------------------ 6) Check the Appropriate Box if a Member of a Group (See Instructions) a) /X/ --------------------------------------------------------------- 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) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 6) Citizenship or Place of Organization United States ------------------------------ - ------------------------------------------------------------------------------ 7) Sole Voting Power 54,700 Number of Shares ------------------------------- Beneficially 8) Shared Voting Power None Owned by Each ----------------------------- Reporting Person 9) Sole Dispositive Power 54,700 With: ------------------------- 10) Shared Dispositive Power None ------------------------ 6 of 22 11) Aggregate Amount Beneficially Owned by Each Reporting Person 54,700 -------- - ------------------------------------------------------------------------------ 12) Check if the Aggregate Amount in Row 11 Excludes Certain Shares (See Instructions) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 13) Percent of Class Represented by Amount in Row 11 .4% of Common Stock outstanding --------------------------------------------------------------------- - ------------------------------------------------------------------------------ 14) Type of Reporting Person (See Instructions) IN ----------------------- - ------------------------------------------------------------------------------ 7 of 22 CUSIP No. 250637-10-5 ------------------------ - ------------------------------------------------------------------------------ 7) Names of Reporting Persons or I.R.S. Identification Nos. of Above Persons Mr. and Mrs. Gary Hofstad -------------------------------------------------------------------- - ------------------------------------------------------------------------------ 8) Check the Appropriate Box if a Member of a Group (See Instructions) a) /X/ --------------------------------------------------------------- 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) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 6) Citizenship or Place of Organization United States ------------------------------ - ------------------------------------------------------------------------------ 7) Sole Voting Power 50,000 Number of Shares ------------------------------- Beneficially 8) Shared Voting Power None Owned by Each ----------------------------- Reporting Person 9) Sole Dispositive Power 50,000 With: -------------------------- 10) Shared Dispositive Power None ------------------------ 8 of 22 11) Aggregate Amount Beneficially Owned by Each Reporting Person 50,000 ------- - ------------------------------------------------------------------------------ 12) Check if the Aggregate Amount in Row 11 Excludes Certain Shares (See Instructions) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 13) Percent of Class Represented by Amount in Row 11 .3% of Common Stock outstanding --------------------------------------------------------------------- - ------------------------------------------------------------------------------ 14) Type of Reporting Person (See Instructions) IN ----------------------- - ------------------------------------------------------------------------------- 9 of 22 CUSIP No. 250637-10-5 ------------------------- - ------------------------------------------------------------------------------ 9) Names of Reporting Persons or I.R.S. Identification Nos. of Above Persons Harry Carlson -------------------------------------------------------------------- - ------------------------------------------------------------------------------ 10) Check the Appropriate Box if a Member of a Group (See Instructions) a) /X/ --------------------------------------------------------------- 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) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 6) Citizenship or Place of Organization United States ------------------------------- - ------------------------------------------------------------------------------ 7) Sole Voting Power 55,000 Number of Shares ------------------------------- Beneficially 8) Shared Voting Power None Owned by Each ----------------------------- Reporting Person 9) Sole Dispositive Power 55,000 With: -------------------------- 10) Shared Dispositive Power None ------------------------ - ------------------------------------------------------------------------------ 10 of 22 11) Aggregate Amount Beneficially Owned by Each Reporting Person 55,000 ------- - ------------------------------------------------------------------------------ 12) Check if the Aggregate Amount in Row 11 Excludes Certain Shares (See Instructions) N/A ------------------------------------------------- - ------------------------------------------------------------------------------ 13) Percent of Class Represented by Amount in Row 11 .4% of Common Stock outstanding -------------------------------------------------------------------- - ------------------------------------------------------------------------------ 14) Type of Reporting Person (See Instructions) IN ------------------------ - ------------------------------------------------------------------------------ 11 of 22 ITEM 1. SECURITY AND ISSUER. This Schedule 13D Statement relates to the Common Stock of Destron Fearing Corporation (the "Issuer"), a Delaware corporation, having its principal executive offices at 490 Villaume Avenue, South St. Paul, Minnesota 55075. ITEM 2. IDENTITY AND BACKGROUND. This Schedule 13D Statement is being filed jointly by a group of individual investors consisting of: Mr. and Mrs. Maas van Dusschotem; Bradley C.Holt; John R. Beattie; Mr. and Mrs. Gary Hofstad; and Harry Carlson (collectively hereinafter referred to as the "Purchasers"). The respective business or residential addresses of the Purchasers are as follows:
Purchaser Address --------- --------- Mr. and Mrs. Maas van Dusschotem Kattenhaarsweg 78 7462 ES Rijssen The Netherlands Bradley C. Holt 1421 East Wayzata Boulevard #225 Wayzata, Minnesota 55341 Mr. and Mrs. Gary Hofstad 5650 North Lylac Drive Brooklyn Center, MN 55430 John R. Beattie 1800 Fifth Street Towers 150 South Fifth Street Minneapolis, Minnesota 55403 Harry Carlson 4 Indian Trail Lucas, Texas 75002
12 of 22 The principal occupations and employers of the Purchasers are as follows:
Purchaser Occupation/Employer ------------------ ------------------- Mr. and Mrs. Maas van Dusschotem Private Investor Bradley C. Holt President; Lions Gate Capital John R. Beattie Attorney; Messerli & Kramer, P.A. Mr. and Mrs. Gary Hofstad President; M&G Marketing Co. Harry Carlson Supervising Manager; Tivoli Systems
None of the above-referenced Purchasers has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor have any of the respective Purchasers 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 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. Four of the Purchasers within the investment group are citizens of the United States. One Purchaser, Maas van Dusschotem, is a citizen of The Netherlands. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The Purchaser's response to Item 5 of this Schedule 13D Statement is incorporated herein by reference. All of the funds used to purchase the Issuer's Common Stock, as stated herein, were the personal funds of the Purchasers set forth in Item 2. The Issuer's shares acquired were purchased through open market purchases, with the exception of 179,000 shares owned by Mr. Holt, that were acquired through the exercise of outstanding Company Stock Purchase Warrants. The aggregate purchase price for the shares acquired and currently held by each of the respective Purchasers, is as follows:
Purchaser Aggregate Purchase Price --------- ------------------------ Mr. and Mrs. Maas van Dusschotem $530,000 Bradley C. Holt $498,375 Harry Carlson $213,125 Mr. and Mrs. Gary Hofstad $210,000 John R. Beattie $159,150
13 of 22 ITEM 4. PURPOSE OF TRANSACTION. The Purchasers believe the Common Stock of the Issuer has been, and remains, undervalued in the public market, and therefore, poses an attractive investment opportunity for each of the members of the investment group. In this regard, and in pursuit of enhancing their investment, the Purchasers intend to closely monitor the Issuer's operations and existing management's specific proposals and efforts taken, and to be taken, to enhance the share value of the Issuer's Common Stock. To support this effort, the Purchasers intend to meet with the Issuer's Board of Directors to seek Board representation for their collective interest and to monitor the Issuer's strategic plans and progress to enhance shareholder value. If, in the sole discretion of the Purchasers, the Issuer's Board and existing management are unsuccessful in this regard, the Purchasers may seek themselves, or in conjunction with other shareholders of the Issuer, and/or other outside investors, at some point in the future, a more active interest in the direction of the Issuer, including, but not limited to: seeking additional representation on the Issuer's Board of Directors; seeking new management for the Issuer; and/or seeking majority control of the Issuer by the Purchasers themselves. In this regard, the Purchasers specifically reserve the right to purchase additional shares of the Issuer, to seek additional members for their group and to sell shares if they deem it in their best interests. Furthermore, the Purchasers reserve the right to discuss and pursue with other shareholders of the Issuer matters of common interest as shareholders of the Issuer. Except as otherwise discussed and disclosed herein, as of the date of this filing, the Purchasers do not have any specific or immediate plans or proposals with respect to extraordinary corporate transactions affecting the Issuer, any sale of its assets, changes in its management, capitalization, dividend policy, business or corporate structures, charter or bylaws or delisting of the Issuer's securities or similar actions. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The information with respect to the aggregate number of shares and the percentage of all outstanding shares of Common Stock of the Issuer beneficially owned as of April 9, 1998, by each of the respective Purchasers within the investment group is set forth in Exhibit A annexed hereto and is incorporated herein by reference. The Purchaser's response to Items (7) through (13) of the cover pages of this Schedule 13D Statement, and the information and responses set forth in Exhibits A and B, are incorporated herein by reference. According to the Issuer's Quarterly Report for the quarterly period ended December 31, 1997, filed February 13, 1998, the Issuer has outstanding 13,294,000 shares of Common Stock. The Purchasers, as of the date of this filing, beneficially own 668,200 shares of the Issuer's Common Stock, or approximately 5.0% of the Issuer's outstanding shares. 14 of 22 ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Other than the common investment strategy and objectives among the respective Purchasers within the investment group as set forth and fully described in Item 4 of this Schedule 13D, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Purchasers, or between the Purchasers and any person with respect to any securities of the Issuer. ITEM 7. MATERIALS TO BE FILED AS EXHIBITS. The following are filed herewith as Exhibits to this Schedule 13D Statement: A. Information with respect to the aggregate number and percentage of the class of securities beneficially owned by each of the respective Purchasers within the investment group, and by the group as an entity; and B. Information with respect to any transactions in the class of securities reported on that were effected during the past sixty days or since the most recent filing of Schedule 13D, whichever is less, by the persons named in response to paragraph (a). 15 of 22 EXHIBIT A Information with respect to the aggregate number and percentage of the class of securities beneficially owned by each of the respective Purchasers within the group and the group as an entity:
NUMBER OF SHARES PERCENTAGE NAME BENEFICIALLY OWNED OF CLASS ---- ------------------ ---------- Mr. and Mrs. Maas van Dusschotem 265,000 2.0% Bradley C. Holt 243,500 1.8% Harry Carlson 55,000 .4% John R. Beattie 54,700 .4% Mr. and Mrs. Gary Hofstad 50,000 .4% ------- ----- ------- ----- 668,200 5.0%
16 of 22 EXHIBIT B Information with respect to any transactions in the class of securities reported on that were effected during the past sixty days or since the most recent filing of Schedule 13D, whichever is less, by the persons named in response to paragraph (a).
AMOUNT OF WHERE AND HOW DATE OF SECURITIES TRANSACTION NAME TRANSACTION INVOLVED PRICE PER SHARE EFFECTED - ---- ----------- ---------- --------------- -------- Bradley C. Holt 2/23/98 (4,500) 1.72 Sold-Open-Market 2/23/98 (9,000) 1 11/16nds Sold-Open-Market 2/26/98 (3,000) 1.59 Sold-Open-Market 2/27/98 (5,000) 1.65 Sold-Open-Market 2/27/98 (5,000) 1.59 Sold-Open-Market 3/11/98 (5,500) 1 25/32nds Sold-Open-Market 3/12/98 (5,000) 1.78 Sold-Open-Market 3/17/98 (3,200) 1 25/32nds Sold-Open-Market 3/18/98 (2,300) 1.68 Sold-Open-Market 3/10/98 5,000 1.78 Buy-Open-Market 3/11/98 40,000 1.68 Buy-Open-Market
17 of 22 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: 4/13/98 /s/ Maas van Dusschotem -------------------------- --------------------------------- Maas van Dusschotem /s/ J.J. van Dusschotem/Uruman --------------------------------- J.J. van Dusschotem/Uruman 18 of 22 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: 4/16/98 /s/ Bradley C. Holt -------------------------- --------------------------------- Bradley C. Holt 19 of 22 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: 4/10/98 /s/ Gary Hofstad -------------------------- --------------------------------- Gary Hofstad /s/ Glennis Hofstad --------------------------------- Glennis Hofstad 20 of 22 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: 4/9/98 /s/ Harry Carlson -------------------------- --------------------------------- Harry Carlson 21 of 22 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: 4/16/98 /s/ John R. Beattie -------------------------- --------------------------------- John R. Beattie 22 of 22 -----END PRIVACY-ENHANCED MESSAGE-----