-----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, Tx31479UIoNNEvqj0m4BzH5IKrQTnVDVhVwI+rPHNHHrqJ9zMFvCe+M2XaiAaVWo B+wWzlQJI/Ni6MMPsVxDOg== 0000912057-96-026760.txt : 19961120 0000912057-96-026760.hdr.sgml : 19961120 ACCESSION NUMBER: 0000912057-96-026760 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961115 SROS: NONE GROUP MEMBERS: FORTUNA ADVISORS, INC. GROUP MEMBERS: FORTUNA CAPITAL MANAGEMENT, INC. GROUP MEMBERS: FORTUNA INVESTMENT PARTNERS L P ET AL GROUP MEMBERS: JOSEPH VANNUKI GROUP MEMBERS: KAREN B. BRENNER GROUP MEMBERS: RICHARD FECHTOR GROUP MEMBERS: RONALD J. VANNUKI SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DDL ELECTRONICS INC CENTRAL INDEX KEY: 0000026987 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 330213512 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-15784 FILM NUMBER: 96667970 BUSINESS ADDRESS: STREET 1: 2151 ANCHOR COURT CITY: NEWBURY PARK STATE: CA ZIP: 91320 BUSINESS PHONE: 805-376-9415 MAIL ADDRESS: STREET 1: 2151 ANCHOR COURT CITY: NEWBURY PARK STATE: CA ZIP: 91320 FORMER COMPANY: FORMER CONFORMED NAME: DATA DESIGN LABORATORIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DATA DESIGN LABORATORIES DATE OF NAME CHANGE: 19880817 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FORTUNA INVESTMENT PARTNERS L P ET AL CENTRAL INDEX KEY: 0000906210 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: CA FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 100 WILSHIRE BLVD STREET 2: FIFTEENTH FLOOR CITY: SANTA MONICA STATE: CA ZIP: 90401 BUSINESS PHONE: 3109176600 MAIL ADDRESS: STREET 1: 100 WILSHIRE BLVD STREET 2: 15TH FL CITY: SANTA MONICA STATE: CA ZIP: 90401 SC 13D 1 SCHEDULE 13D OMB APPROVAL ------------------------------ OMB Number: 3235-0145 Expires: December 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. 4)* DDL ELECTRONICS, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK ($.50 PAR VALUE) - -------------------------------------------------------------------------------- (Title of Class of Securities) 233167105 ------------------------------------------------------------- (CUSIP Number) Ronald J. Vannuki 100 Wilshire Blvd., 15th Floor Santa Monica, CA 90401 (310) 917-6600 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) NOVEMBER 1, 1995 ---------------------------------------------------------------- (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 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. 233167105 Page 2 of 16 Pages - ---------------------- -------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fortuna Investment Partners, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (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 California - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF --------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,354,390 EACH REPORTING --------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,354,390 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,354,390 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 3 of 16 Pages - ---------------------- -------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fortuna Capital Management, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF --------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY EACH 1,504,390 REPORTING --------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,504,390 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,504,390 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 4 of 16 Pages - ---------------------- -------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Ronald J. Vannuki - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF (with respect to shares over which Mr. Vannuki has sole dispositive power); NA (with respect to all other shares in which Mr. Vannuki has a beneficial interest.) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 3,500 NUMBER OF --------------------------------------------------------------- SHARES BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 1,504,390 REPORTING --------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 3,500 - -------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,074,317 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,077,817 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 5 of 16 Pages - ---------------------- -------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Richard Fechtor - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 457,050 NUMBER OF --------------------------------------------------------------- SHARES BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 0 REPORTING --------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 457,050 --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 457,050 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * IN - -------------------------------------------------------------------------------- SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 6 of 16 Pages - ---------------------- -------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fortuna Advisors, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF --------------------------------------------------------------- SHARES BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 0 REPORTING --------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 - -------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,364,954 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,364,954 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * CO - -------------------------------------------------------------------------------- SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 7 of 16 Pages - ---------------------- -------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Karen B. Brenner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF (with respect to shares over which Ms. Brenner has sole dispositive power); N/A (with respect to all other shares in which Ms. Brenner has a beneficial interest.) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 107,400 NUMBER OF --------------------------------------------------------------- SHARES BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 0 REPORTING --------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 107,400 --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,364,954 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,472,354 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * IN - -------------------------------------------------------------------------------- SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 8 of 16 Pages - ---------------------- -------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Joseph Vannuki - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 64,409 NUMBER OF --------------------------------------------------------------- SHARES BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 0 REPORTING --------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 64,409 - -------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 64,409 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * IN - -------------------------------------------------------------------------------- SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 9 of 16 Pages - ---------------------- -------------------------- Item 1. SECURITY AND ISSUER. This filing relates to the Common Stock, $.50 par value (the "Stock"), of DDL Electronics, Inc. (the "Company"). The Stock trades on the NYSE. The Company's principal executive offices are located at 2051 Anchor Court, Newburg Park, California; the Company's telephone number at that location is (805) 376- 2595. The number of issued and outstanding shares of Stock as set forth in the Company's 10K for the period ended June 30, 1996 is 23,046,914. Item 2. IDENTITY AND BACKGROUND. (a) This statement is filed by (i) Fortuna Investment Partners, L.P., a California limited partnership ("Fortuna Investment Partners") with respect to shares of Stock held or beneficially owned by the partnership; (ii) Fortuna Capital Management, Inc. ("Fortuna Capital Management") as general partner and discretionary investment adviser of Fortuna Investment Partners and with respect to shares of Stock held or beneficially owned by the company; (iii) Ronald J. Vannuki as sole shareholder and president of Fortuna Capital Management; (iv) Richard Fechtor with respect to shares of Stock held or beneficially owned by him; (v) Fortuna Advisors, Inc. ("Fortuna Advisors") as discretionary investment adviser with respect to shares of Stock held or beneficially owned by its advisory clients; (vi) Karen Beth Brenner with respect to shares of Stock held or beneficially owned by her and as sole shareholder and president of Fortuna Advisors; and (vii) Joseph Vannuki with respect to shares of Stock held or beneficially owned by him. The foregoing persons hereinafter sometimes are referred to collectively as the "Reporting Persons." (b) The principal business address of (i) Fortuna Investment Partners; (ii) Fortuna Capital Management; and (iii) Ronald J. Vannuki is 100 Wilshire Boulevard, Fifteenth Floor, Santa Monica, California 90401. The principal business address of (i) Fortuna Advisors and (ii) Karen B. Brenner is 1300 Bristol Street North, Suite 230, Newport Beach, California 92660. The principal business address of Richard Fechtor is 155 Federal Street, Boston, Massachusetts 02110. The principal business address of Joseph Vannuki is 773 Ron Lee Lane, Youngstown, Ohio 44512. (c) The business of (i) Fortuna Investment Partners is that of a private investment partnership engaging in the purchase and sale of securities for investment for its own account; (ii) Fortuna Capital Management is to serve as the general partner of Fortuna Investment Partners; and (iii) Ronald J. Vannuki is to serve as president of SCHEDULE 13D - ---------------------- --------------------------- CUSIP No. 233167105 Page 10 of 16 Pages - ---------------------- --------------------------- Fortuna Capital Management and as registered representative with a securities brokerage firm. The business of Richard Fechtor is a registered representative and director of Fechtor, Detwiler & Co., a securities brokerage firm. The business of (i) Fortuna Advisors is the provision of discretionary investment management services to clients and (ii) Karen B. Brenner is to serve as president of Fortuna Advisors. Joseph Vannuki is retired. (d) None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) None 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 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. (f)(i) Fortuna Investment Partners is a California limited partnership; (ii) Fortuna Capital Management is a California corporation; (iii) Ronald J. Vannuki is a United States citizen; (iv) Richard Fechtor is a United States citizen; (v) Fortuna Advisors is a California corporation; (vi) Karen B. Brenner is a United States citizen; and (vii) Joseph Vannuki is a United States citizen. Item 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION The net investment cost (including commissions, if any) of the shares of Stock beneficially owned by Fortuna Investment Partners is $1,972,290. The source of funds for this consideration was working capital. The net investment cost (including commissions, if any) of the shares of Stock beneficially owned by Fortuna Capital Management is $0. (See Item 6.) SCHEDULE 13D - ---------------------- --------------------------- CUSIP No. 233167105 Page 11 of 16 Pages - ---------------------- --------------------------- The net investment cost (including commissions, if any) of the shares of Stock beneficially owned by Richard Fechtor is $461,620. The source of funds for this consideration was personal funds. The net investment cost (including commissions, if any) of the shares of Stock beneficially owned by Fortuna Advisors is $2,511,389. The source of funds for this consideration was Fortuna Advisor's clients' personal funds. The net investment cost (including commissions, if any) of the shares of Stock beneficially owned by Karen B. Brenner is $37,706. The source of funds for this consideration was $23,466 in personal funds and $14,240 was a gift of 16,000 shares. The net investment cost (including commissions, if any) of the shares of Stock beneficially owned by Joseph Vannuki is $116,306. The source of funds for this consideration was working capital. Item 4. PURPOSE OF THE TRANSACTION The purpose of the acquisition of the shares by the Reporting Persons is to participate in the active management of the Company and to gain representation on the Company's Board of Directors. Each Reporting Person may make further purchases of shares of Stock from time to time and may dispose of any or all of the shares of Stock held by such person at any time. Item 5. INTEREST IN SECURITIES OF THE ISSUER (a) As of the date hereof: (i) Fortuna Investment Partners beneficially owns 1,354,390 shares of Stock which includes 420 convertible bonds convertible into 39,530 shares of Stock. Fortuna Investment Partners is the beneficial owner of 5.9% of the Stock. (ii) Fortuna Capital Management, as general partner and discretionary investment adviser to Fortuna Investment Partners, beneficially owns 1,504,390 shares of Stock, which includes 420 convertible bonds convertible into 39,530 shares of Stock and 150,000 warrants convertible into 150,000 shares of Stock. Fortuna Capital Management is the beneficial owner of 6.5% of the Stock. SCHEDULE 13D - ---------------------- -------------------------- CUSIP No. 233167105 Page 11 of 16 Pages - ---------------------- -------------------------- (iii) Ronald J. Vannuki, as sole shareholder and president of Fortuna Capital Management, as a registered representative with discretionary authority over a customer's account, and as a direct owner of shares of Stock, beneficially owns 2,077,817 shares of Stock, which includes 420 convertible bonds convertible into 39,530 shares of Stock and 150,000 warrants convertible into 150,000 shares of Stock. Mr. Vannuki is the beneficial owner of 8.9% of the Stock. (iv) Richard Fechtor beneficially owns 457,050 shares of Stock. Mr. Fechtor is the beneficial owner of 2.0% of the Stock. (v) Fortuna Advisors, as discretionary investment adviser to clients whose accounts hold the Stock, beneficially owns 1,364,954 shares of Stock which includes 494 convertible bonds convertible into 46,495 shares of Stock. Fortuna Advisors is the beneficial owner of 5.9% of the Stock. (vi) Karen Brenner, as sole shareholder of Fortuna Advisors and as a direct owner of shares of Stock, beneficially owns 1,472,354 shares of Stock, which includes 494 convertible bonds convertible into 46,495 shares of Stock and 75,000 warrants convertible into 75,000 shares of Stock. Ms. Brenner is the beneficial owner of 6.4% of the Stock. (vii) Joseph Vannuki beneficially owns 64,409 shares of Stock which includes 24 convertible bonds convertible into 2,259 shares of Stock. Mr. Vannuki is the beneficial owner of 0.3% of the Stock. The Reporting Persons in the aggregate may be deemed to own an aggregate of 17.4% of the Stock. SCHEDULE 13D - ---------------------- --------------------------- CUSIP No. 233167105 Page 13 of 16 Pages - ---------------------- --------------------------- (b)
------------------------------------------------------------------ Power to Vote Power to Dispose ------------------------------------------------------------------------------------------------------------- No. of Shares Percentage of Beneficially Owned Class Sole Shared Sole Shared - ------------------------------------------------------------------------------------------------------------------------------------ Fortuna Investment Partners 1,354,390 5.9% 0 1,354,390 0 1,354,390 Fortuna Capital Management 1,504,390 6.5% 0 1,504,390 0 1,504,390 Ronald J. Vannuki 2,077,817 8.9% 3,500 1,504,390 3,500 2,074,317 Richard Fechtor 457,050 2.0% 457,050 0 457,050 0 Fortuna Advisors 1,364,954 5.9% 0 0 0 1,364,954 Karen B. Brenner 1,472,354 6.4% 107,400 0 107,400 1,364,954 Joseph Vannuki 64,409 0.3% 64,409 0 64,409 0
(c) The trading dates, number of shares purchased or sold and price per share for all transactions by the Reporting Persons since September 1, 1995 are set forth on Schedule A hereto. All such transactions, unless otherwise noted, were open market transactions and were effected on the NYSE. No other transactions were effected by the Reporting Persons during such period. (d) No person other than each respective owner referred to herein of Stock is known to have the right to receive or the power to direct the receipt of dividends from or the proceeds of sale of such Stock. (e) Not applicable. - ---------------------- --------------------------- CUSIP No. 233167105 Page 14 of 16 Pages - ---------------------- --------------------------- Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER Fortuna Capital Management has provided various consulting and financial advisory services for which it received 150,000 warrants, which are convertible into 150,000 shares of Stock, as compensation. The warrants have not been exercised. Item 7. MATTER TO BE FILED AS EXHIBITS No new exhibits. Exhibits previously filed by the Reporting Persons are incorporated herein by this reference. - ---------------------- --------------------------- CUSIP No. 233167105 Page 15 of 16 Pages - ---------------------- --------------------------- SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: October 18, 1996 FORTUNA INVESTMENT PARTNERS, L.P. By: Fortuna Capital Management, Inc., its General Partner By: /s/ Ronald J. Vannuki ----------------------------------- Ronald J. Vannuki, President FORTUNA CAPITAL MANAGEMENT, INC. By: /s/ Ronald J. Vannuki ----------------------------------- Ronald J. Vannuki, President /s/ Ronald J. Vannuki - -------------------------------------------------- Ronald J. Vannuki Individual /s/ Richard Fechtor - -------------------------------------------------- Richard Fechtor Individual - ---------------------- --------------------------- CUSIP No. 233167105 Page 16 of 16 Pages - ---------------------- --------------------------- FORTUNA ADVISORS, INC. By: /s/ Karen B. Brenner ----------------------------------- Karen B. Brenner, President /s/ Karen B. Brenner - -------------------------------------------------- Karen B. Brenner Individual /s/ Joseph Vannuki - -------------------------------------------------- Joseph Vannuki Individual SCHEDULE A Transactions Since September 1, 1995
- -------------------------------------------------------------------------------------------------------------------------------- Broker Effective Party Date Bought (Sold) Price Per Share Transaction - -------------------------------------------------------------------------------------------------------------------------------- Fortuna Investment Partners 09/04/95 11,500 1.91 Bear Stearns Fortuna Advisors 11/16/95 (25,000) 2.88 Bear Stearns Fortuna Advisors 11/16/95 (17,633) 2.74 Bear Stearns Fortuna Advisors 11/16/95 (7,367) 2.75 Bear Stearns Fortuna Advisors 11/17/95 (25,000) 2.49 Bear Stearns Fortuna Advisors 11/30/95 80,965 2.94 Bear Stearns Fortuna Advisors 12/28/95 74,000 2.63 Bear Stearns Fortuna Investment Partners 01/02/96 3,500 2.60 Bear Stearns Fechtor 01/03/96 (3,000) 2.50 Fechtor, Detwiler Fortuna Advisors 01/04/96 4,000 2.64 Bear Stearns Fechtor 01/04/96 1,500 2.50 Fechtor, Detwiler Fechtor 01/08/96 (3,000) 2.50 Fechtor, Detwiler Fortuna Advisors 01/09/96 (41,000) 2.67 Bear Stearns Fechtor 01/09/96 (3,000) 2.75 Fechtor, Detwiler Fechtor 01/09/96 (3,000) 2.88 Fechtor, Detwiler Fechtor 01/09/96 (2,000) 2.88 Fechtor, Detwiler Fechtor 01/09/96 (2,000) 2.75 Fechtor, Detwiler - -------------------------------------------------------------------------------------------------------------------------------- Broker Effective Party Date Bought (Sold) Price Per Share Transaction - -------------------------------------------------------------------------------------------------------------------------------- Fechtor 01/11/96 (2,500) 2.63 Fechtor, Detwiler Fechtor 01/12/96 (3,000) 2.75 Fechtor, Detwiler Fechtor 01/12/96 (2,000) 2.88 Fechtor, Detwiler Fortuna Advisors 01/18/96 4,000 2.63 Bear Stearns Fechtor 01/19/96 (3,000) 2.63 Fechtor, Detwiler Fechtor 01/24/96 (3,000) 2.63 Fechtor, Detwiler Fortuna Investment Partners 01/29/96 146,000 2.62 Bear Stearns Fortuna Investment Partners 02/05/96 15,000 2.53 Bear Stearns Fechtor 02/16/96 (5,000) 2.50 Fechtor, Detwiler Fortuna Investment Partners 02/29/96 11,500 2.53 Bear Stearns Fortuna Investment Partners 03/29/96 10,000 2.41 Bear Stearns Fortuna Investment Partners 03/29/96 7,500 2.38 Bear Stearns Fortuna Investment Partners 05/01/96 23,000 1.91 Bear Stearns Fortuna Investment Partners 05/02/96 33,000 1.77 Bear Stearns Fortuna Investment Partners 05/03/96 2,000 1.78 Bear Stearns Fortuna Investment Partners 05/10/96 5,500 2.03 Bear Stearns Fortuna Investment Partners 05/13/96 5,500 2.03 Bear Stearns Fortuna Investment Partners 05/14/96 5,500 2.03 Bear Stearns Fortuna Investment Partners 05/15/96 6,000 2.03 Bear Stearns Brenner 05/24/96 50,000 warrants N/A Granted by DDL Fechtor 06/21/96 (5,000) 2.13 Fechtor, Detwiler - -------------------------------------------------------------------------------------------------------------------------------- Broker Effective Party Date Bought (Sold) Price Per Share Transaction - -------------------------------------------------------------------------------------------------------------------------------- Fortuna Advisors 06/24/96 (7,000) 1.97 Bear Stearns Fortuna Advisors 06/25/96 (3,000) 2.00 Bear Stearns Fortuna Investment Partners 06/25/96 1,000 2.03 Bear Stearns Fortuna Investment Partners 06/28/96 4,000 2.03 Bear Stearns Fortuna Investment Partners 07/01/96 1,000 2.04 Bear Stearns Fortuna Advisors 07/10/96 (3,000) 1.75 Bear Stearns Fortuna Investment Partners 07/22/96 1,000 1.78 Bear Stearns Fortuna Investment Partners 07/29/96 22,600 1.66 Bear Stearns Fortuna Investment Partners 08/08/96 6,000 1.53 Bear Stearns Fortuna Investment Partners 08/09/96 11,000 1.42 Bear Stearns Fortuna Investment Partners 08/09/96 1,000 1.50 Bear Stearns Fortuna Investment Partners 08/14/96 6,000 1.28 Bear Stearns Fortuna Investment Partners 08/15/96 3,000 1.28 Bear Stearns Fortuna Investment Partners 08/21/96 1,000 1.28 Bear Stearns Fortuna Investment Partners 08/22/96 500 1.28 Bear Stearns Fortuna Investment Partners 08/26/96 500 1.28 Bear Stearns Fortuna Investment Partners 08/30/96 2,000 1.28 Bear Stearns Brenner 09/18/96 25,000 warrants N/A Transferred from Client Fortuna Advisors 09/23/96 (20,000) 1.25 Bear Stearns Fortuna Advisors 09/27/96 (4,500) 1.25 Bear Stearns Fortuna Advisors 10/02/96 (5,500) 1.25 Bear Stearns
EXHIBIT A JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(f)(1) This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934 (the "Act") by and among the parties listed below, each referred to herein as a "Joint Filer" the Joint Filers agree that a statement of beneficial ownership as required by Section 13(d) of the Act and the Rules thereunder may be filed on each of their behalf on Schedule 13D or Schedule 13G, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1. Dated: October 18, 1996 FORTUNA INVESTMENT PARTNERS, L.P. By: Fortuna Capital Management, Inc., its General Partner By: /s/ Ronald J. Vannuki ---------------------------------------- Ronald J. Vannuki, President FORTUNA CAPITAL MANAGEMENT, INC. By: /s/ Ronald J. Vannuki ---------------------------------------- Ronald J. Vannuki, President /s/ Ronald J. Vannuki - -------------------------------------------------- Ronald J. Vannuki Individual /s/ Richard Fechtor - -------------------------------------------------- Richard Fechtor Individual FORTUNA ADVISORS, INC. By: /s/ Karen B. Brenner ---------------------------------------- Karen B. Brenner, President /s/ Karen B. Brenner - -------------------------------------------------- Karen B. Brenner Individual /s/ Joseph Vannuki - -------------------------------------------------- Joseph Vannuki Individual -----END PRIVACY-ENHANCED MESSAGE-----