-----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, LxnUhopR4wqe5pb7eiBBkXY7u9b/AhoR3ptbd2MSYQWH7eODJD7Q2tD/M9BtZzKD fyWX2xJyewBSXMfWJJY0DQ== 0000935836-00-000131.txt : 20000216 0000935836-00-000131.hdr.sgml : 20000216 ACCESSION NUMBER: 0000935836-00-000131 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000215 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AEROCENTURY CORP CENTRAL INDEX KEY: 0001036848 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 943263974 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-52409 FILM NUMBER: 545678 BUSINESS ADDRESS: STREET 1: 1440 CHAPIN AVE STE 310 CITY: BURLINGAME STATE: CA ZIP: 94010 BUSINESS PHONE: 6503401888 MAIL ADDRESS: STREET 1: 1440 CHAPIN AVENUE SUITE 310 CITY: BURLINGAME STATE: CA ZIP: 94010 FORMER COMPANY: FORMER CONFORMED NAME: AEROMAX INC DATE OF NAME CHANGE: 19970331 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PINE CAPITAL MANAGEMENT INC /CA/ /ADV CENTRAL INDEX KEY: 0000868824 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 943146402 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 353 SACARMENTO ST 10TH FL CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4153627111 MAIL ADDRESS: STREET 1: 353 SACRAMENTO ST., 10TH FL CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FORMER COMPANY: FORMER CONFORMED NAME: PINE CAPITAL MANAGEMENT INC /CA/ /ADV DATE OF NAME CHANGE: 19980408 SC 13G/A 1 OMB APPROVAL OMB Number:3235-0145 Expires: August 31, 1999 Estimated average burden hours per response 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) AEROCENTURY CORP. (Name of Issuer) COMMON STOCK (Title of Class of Securities) 007737109 (CUSIP Number) December 31, 1999 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: /_x_/ Rule 13d-1(b) /___/ 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 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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. CUSIP No. 007737109 13G Page 2 of 6 Pages - ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Pine Capital Management, Incorporated 94-3146402 - ---------------------------------------------------------------- 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 California - ---------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 Shares BENEFICIALLY --------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH 0 Shares REPORTING --------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 183,300 Shares --------------------------------------- 8 SHARED DISPOSITIVE POWER 0 Shares - ---------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 183,300 Shares - ---------------------------------------------------------------- 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) - ---------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.4% - ---------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) IA - ---------------------------------------------------------------- CUSIP No. 007737109 13G Page 3 of 6 Pages - ---------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hoefer & Arnett, Inc. 94-2831518 - ---------------------------------------------------------------- 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 California - ---------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 Shares BENEFICIALLY --------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH 0 Shares REPORTING --------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 4,300 Shares --------------------------------------- 8 SHARED DISPOSITIVE POWER 0 Shares - ---------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,300 Shares - ---------------------------------------------------------------- 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) - ---------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.3% - ---------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) BD - ---------------------------------------------------------------- CUSIP No. 007737109 13G Page 4 of 6 Pages ITEM 1. (a) The name of the issuer is Aerocentury Corp.. (the "Issuer"). (b) The principal executive office of the Issuer is located at 1440 Chapin Avenue., Suite 310 Burlingame, CA 94010. ITEM 2. (a) The names of the persons filing this statement are Pine Capital Management, Incorporated ("Pine") and Hoefer & Arnett, Inc. ("Hoefer & Arnett") (collectively, the "Filers"). (b) The principal business office of the Filers is located at 353 Sacramento Street, 10th Floor, San Francisco, California 94111. (c) See Item 4 of the cover sheet for each Filer. (d) This statement relates to shares of common stock of the Issuer (the "Stock"). (e) The CUSIP number of the Stock is 007737109 ITEM 3. If this statement is filed pursuant to rule 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 240.13d- 1(b)(1)(ii)(E). (f) ___ An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). (g) ___ A parent holding company or control person in accordance with 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) _x_ Group, in accordance with section 240.13d-1(b)(1)(ii)(J) CUSIP No. 007737109 13G Page 5 of 6 Pages ITEM 4. OWNERSHIP (a) Amount beneficially owned: 187,600 Shares (b) Percent of class: 11.7% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 Shares (ii) Shared power to vote or to direct the vote: 0 Shares (iii) Sole power to dispose or to direct the disposition of: 183,300 Shares (iv) Shared power to dispose or direct the disposition of: 0 Shares ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not applicable ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON The Stock is held for the accounts for clients of Pine, a registered investment adviser, and Hoefer & Arnett, a registered broker-dealer. Pine holds the Stock in a fiduciary capacity and Hoefer & Arnett holds the Stock pursuant to discretionary authority. Clients of Pine and Hoefer & Arnett have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, the Stock. No client is known to have such right or power with respect to more than five percent of the outstanding Stock. Hoefer & Arnett does not have the power to vote, or to direct the voting of, the Stock held by it in its capacity as broker. Pine and Hoefer & Arnett are `affiliates' within the meaning of 17 C.F.R Section 240.12b-2. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable. CUSIP No. 007737109 13G Page 6 of 6 Pages ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not Applicable ITEM 9. NOTICE OF DISSOLUTION OF GROUP Not applicable. ITEM 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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. 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. PINE CAPITAL MANAGEMENT, INCORPORATED Dated: February 14, 2000 By:/s/ Philip Economopoulos Philip Economopoulos President HOEFER & ARNETT, INC. Dated: February 14, 2000 By:/s/ Philip Economopoulos Philip Economopoulos Secretary ETR\5621\001\1086699.02 -----END PRIVACY-ENHANCED MESSAGE-----