-----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, Gk59rJpaIxyHkPlwpupRQj/pd573HxGg9Ax/ODRtLzOiXAQyHa1aMlsI9V2p6eTT m4Vz/D7iSAvMexgrXU9Ang== 0000892569-01-000017.txt : 20010223 0000892569-01-000017.hdr.sgml : 20010223 ACCESSION NUMBER: 0000892569-01-000017 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20010214 GROUP MEMBERS: CHOI YAT MING GROUP MEMBERS: RAYFA BVI LTD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SRS LABS INC CENTRAL INDEX KEY: 0001016470 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 330714264 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-49103 FILM NUMBER: 1542801 BUSINESS ADDRESS: STREET 1: 2909 DAIMIER ST CITY: SANTA ANA STATE: CA ZIP: 92705 BUSINESS PHONE: 9494421070 MAIL ADDRESS: STREET 1: 2909 DAIMLER ST CITY: SANTA ANA STATE: CA ZIP: 92705 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: RAYFA BVI LTD CENTRAL INDEX KEY: 0001057658 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 000000000 STATE OF INCORPORATION: D8 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: VALANCE TECHNOLOGIES INC,UNIT 413,4TH FL STREET 2: HONG KONG IND CENTER, 72 TAT CHEE AVE CITY: KOWLOONTONG HONGKONG STATE: K3 ZIP: 00000 BUSINESS PHONE: 85227767708 MAIL ADDRESS: STREET 1: VALANCE TECHNOLOGIES INC,UNIT 413,4TH FL STREET 2: HONG KONG IND CENTER, 72 TAT CHEE AVE CITY: KOWLOONTONG HONGKONG STATE: K3 SC 13G/A 1 a69627a2sc13ga.txt AMENDMENT NO.2 TO SCHEDULE 13G 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* SRS Labs, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 78464M 10 6 - -------------------------------------------------------------------------------- (CUSIP Number) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) * 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 the disclosures provided in a prior cover page. The information required in 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 - --------------------- ----------------- CUSIP No. 78464M 10 6 SCHEDULE 13G Page 2 of 7 Pages - --------------------- ----------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS OR S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Rayfa (BVI) Limited - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 709,760 ---------------------------------------- NUMBER 6 SHARED VOTING POWER OF SHARES BENEFICIALLY 0 OWNED ---------------------------------------- BY EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 709,760 WITH ---------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 709,760 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.6% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - -------------------------------------------------------------------------------- 3 - --------------------- ----------------- CUSIP No. 78464M 10 6 SCHEDULE 13G Page 3 of 7 Pages - --------------------- ----------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS OR S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Choi Yat Ming - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Hong Kong - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 861,010 NUMBER --------------------------------------- OF SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED 0 BY EACH --------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 861,010 --------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 861,010 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.8% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- 4 - --------------------- ----------------- CUSIP No. 78464M 10 6 SCHEDULE 13G Page 4 of 7 Pages - --------------------- ----------------- ITEM 1(a). NAME OF ISSUER: SRS Labs, Inc. ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 2909 Daimler Street, Santa Ana, California 92705 ITEM 2(a). NAMES OF PERSONS FILING: Rayfa (BVI) Limited and Choi Yat Ming ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal office of Rayfa (BVI) Limited is Tropic Isle Building, P.O. Box 438, Road Town, Tortola, British Virgin Islands. The address of the principal office of Choi Yat Ming is c/o Valence Technology Inc., Unit 413, 4th Floor, Hong Kong Industrial Technology Centre, 72 Tat Chee Avenue, Kowloon Tong, Hong Kong. ITEM 2(c). CITIZENSHIP: Rayfa (BVI) Limited is a British Virgin Islands corporation. Choi Yat Ming is a citizen of Hong Kong. ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock ITEM 2(e). CUSIP NUMBER: 78464M 10 6 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C.78o); (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) [ ] An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E); 5 - --------------------- ----------------- CUSIP No. 78464M 10 6 SCHEDULE 13G Page 5 of 7 Pages - --------------------- ----------------- (f) [ ] An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Section 240.13d-1(c), check this box [ ]. ITEM 4. OWNERSHIP. (a) AMOUNT BENEFICIALLY OWNED: Rayfa (BVI) Limited 709,760 Choi Yat Ming 861,010 (b) PERCENT OF CLASS: Rayfa (BVI) Limited 5.6% Choi Yat Ming 6.8% (c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS: (i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE: Rayfa (BVI) Limited 709,760 Choi Yat Ming 861,010 (ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE: Rayfa (BVI) Limited 0 Choi Yat Ming 0 (iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF: Rayfa (BVI) Limited 709,760 Choi Yat Ming 861,010 (iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF: Rayfa (BVI) Limited 0 Choi Yat Ming 0 6 - --------------------- ----------------- CUSIP No. 78464M 10 6 SCHEDULE 13G Page 6 of 7 Pages - --------------------- ----------------- Choi Yat Ming is the sole shareholder and director of Rayfa (BVI) Limited. In such capacities, Mr. Choi is able to direct the vote and dispose of the shares of the Issuer's common stock which are reported herein. The 861,010 shares beneficially owned by Choi Yat Ming include 151,250 shares issuable upon exercise of stock options that vest on or before March 1, 2001. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. [ ] ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Choi Yat Ming is the sole shareholder and director of Rayfa (BVI) Limited. In such capacities, Mr. Choi is able to direct the receipt of dividends from, or the proceeds from the sale of, the Issuer's common stock which are reported herein. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. Inapplicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. This filing is made on behalf of Rayfa (BVI) Limited and Choi Yat Ming as members of a group. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Inapplicable. ITEM 10. CERTIFICATION. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 7 - --------------------- ----------------- CUSIP No. 78464M 10 6 SCHEDULE 13G Page 7 of 7 Pages - --------------------- ----------------- 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. February 14, 2001 --------------------------------- Date RAYFA (BVI) LIMITED By: /s/ CHOI YAT MING ----------------------------- Name: Choi Yat Ming Title: Director /s/ CHOI YAT MING -------------------------------- Choi Yat Ming 8 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION -------- ----------- A Agreement between Rayfa (BVI) Limited and Choi Yat Ming EX-99.(A) 2 a69627a2ex99-a.txt EXHIBIT 99.(A) 1 EXHIBIT "A" AGREEMENT THIS AGREEMENT is dated as of February 12, 2001 between Rayfa (BVI) Limited and Choi Yat Ming. WHEREAS, pursuant to Rule 240.13d-1(k) promulgated under Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the parties hereto have decided to satisfy their filing obligations under the Exchange Act by a single joint filing; NOW THEREFORE, the parties hereto agree as follows: 1. The Amendment No. 2 to Schedule 13G with respect to SRS Labs, Inc. to which this Agreement is attached as Exhibit "A" (the "Schedule 13G") is filed on behalf of each of the parties hereto. 2. Each of the parties hereto is eligible to use the Schedule 13G. 3. Each of the parties hereto is responsible for the timely filing of the Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person or entity contained in the Schedule 13G; provided that each person or entity is not responsible for the completeness or accuracy of the information concerning any other person making such filing contained in the Schedule 13G, unless such person or entity knows or has reason to believe that such information is inaccurate. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. RAYFA (BVI) LIMITED By: /s/ CHOI YAT MING --------------------------------- Name: Choi Yat Ming Title: Director /s/ CHOI YAT MING ------------------------------------- Choi Yat Ming -----END PRIVACY-ENHANCED MESSAGE-----