-----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, MzqTAJU6dXVdsgXNcRSDhYLH8xO2oBdlTzVap0KJUsYF0lygw9G84j5zTUKgNeBc dD09RSHosv1Zi2/te+fhQQ== 0000912057-00-000743.txt : 20000202 0000912057-00-000743.hdr.sgml : 20000202 ACCESSION NUMBER: 0000912057-00-000743 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000110 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MORROW SNOWBOARDS INC CENTRAL INDEX KEY: 0000866415 STANDARD INDUSTRIAL CLASSIFICATION: [3949] IRS NUMBER: 931011046 STATE OF INCORPORATION: OR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-56555 FILM NUMBER: 504861 BUSINESS ADDRESS: STREET 1: 2600 PRINGLE RD SE CITY: SALEM STATE: OR ZIP: 97302 BUSINESS PHONE: 5033759300 MAIL ADDRESS: STREET 1: P O BOX 12606 CITY: SALEM STATE: OR ZIP: 97309 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CAPITOL BAY MANAGENT INC CENTRAL INDEX KEY: 0001091220 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 680308736 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 2424 PROFESSIONAL DRIVE CITY: ROSEVILLE STATE: CA ZIP: 95661 BUSINESS PHONE: 9167825522 MAIL ADDRESS: STREET 1: 2424 PROFESSIONAL DR CITY: ROSEVILLE STATE: CA ZIP: 95661 SC 13D/A 1 SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* Morrow Snowboards, Inc. ------------------------------------------------------ (Name of Issuer) Common Stock, No Par Value ------------------------------------------------------ (Title of Class of Securities) 61902C104 ------------------------------------------------------ (CUSIP Number) Stephen C. Kircher, President & CEO Capitol Bay Management, Inc. 2424 Professional Drive Roseville, CA 95561 ------------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 1, 1999 ------------------------------------------------------ (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(e), 13d-1(f) or 13d-1(g), check the following box [ ]. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) 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). Page 1 of 14 SCHEDULE 13D CUSIP NO. 61902C104 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CAPITOL BAY MANAGEMENT, INC. I.R.S. IDENTIFICATION NUMBER - 68-0308736 - ----------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [ ] - ----------------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------------- 4. SOURCE OF FUNDS - ------------------------------------------------------------------------------------ 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or(e) [ ] - ------------------------------------------------------------------------------------ 6. CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------------------------ 7. SOLE VOTING POWER NUMBER OF - 0 - SHARES --------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY - 0 - EACH --------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON - 0 - WITH --------------------------------------------- 10. SHARED DISPOSITIVE POWER - 0 - - ------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 0 - - ------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) - ------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------------
Page 2 of 14 SCHEDULE 13D CUSIP NO. 61902C104 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CAPITOL BAY SECURITIES, INC. I.R.S. IDENTIFICATION NUMBER - 68-0299608 - ----------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [ ] - ----------------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------------- 4. SOURCE OF FUNDS AF - ------------------------------------------------------------------------------------ 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - ------------------------------------------------------------------------------------ 6. CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------------------------ 7. SOLE VOTING POWER NUMBER OF - 0 - SHARES --------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY 212,900 EACH --------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON - 0 - WITH --------------------------------------------- 10. SHARED DISPOSITIVE POWER 212,900 - ------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 212,900 - ------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.32% - ------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON BD - ------------------------------------------------------------------------------------
Page 3 of 14 SCHEDULE 13D CUSIP NO. 61902C104 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CAPITOL BAY GROUP, INC. I.R.S. IDENTIFICATION NUMBER - 68-0299607 - ----------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [ ] - ----------------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------------- 4. SOURCE OF FUNDS - ------------------------------------------------------------------------------------ 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - ------------------------------------------------------------------------------------ 6. CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------------------------ 7. SOLE VOTING POWER NUMBER OF - 0 - SHARES --------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY - 0 - EACH --------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON - 0 - WITH --------------------------------------------- 10. SHARED DISPOSITIVE POWER - 0 - - ------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 0 - - ------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) - ------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------------
Page 4 of 14 SCHEDULE 13D CUSIP NO. 61902C104 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON STEPHEN C. KIRCHER - ----------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [ ] - ----------------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------------- 4. SOURCE OF FUNDS OO - ------------------------------------------------------------------------------------ 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - ------------------------------------------------------------------------------------ 6. CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------------------------ 7. SOLE VOTING POWER NUMBER OF 2,000,000 SHARES --------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY 1,212,900 EACH --------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON 2,000,000 WITH --------------------------------------------- 10. SHARED DISPOSITIVE POWER 212,900 - ------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,000,000 - ------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X 1,212,900 - ------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 21.8% - ------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------------
Page 5 of 14 SCHEDULE 13D CUSIP NO. 61902C104 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON STEVEN KAY - ----------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [ ] - ----------------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------------- 4. SOURCE OF FUNDS OO - ------------------------------------------------------------------------------------ 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - ------------------------------------------------------------------------------------ 6. CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------------------------ 7. SOLE VOTING POWER NUMBER OF - 0 - SHARES --------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY 500,000 EACH --------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON 500,000 WITH --------------------------------------------- 10. SHARED DISPOSITIVE POWER - 0 - - ------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 500,000 - ------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.45% - ------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------------
Page 6 of 14 SCHEDULE 13D CUSIP NO. 61902C104 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON LARRY D. KELLEY - ----------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [ ] - ----------------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------------- 4. SOURCE OF FUNDS OO - ------------------------------------------------------------------------------------ 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - ------------------------------------------------------------------------------------ 6. CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ------------------------------------------------------------------------------------ 7. SOLE VOTING POWER NUMBER OF - 0 - SHARES --------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY 500,000 EACH --------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON 500,000 WITH --------------------------------------------- 10. SHARED DISPOSITIVE POWER - 0 - - ------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 500,000 - ------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.45% - ------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------------
Page 7 of 14 STATEMENT PURSUANT TO RULE 13d-1 OF THE GENERAL RULES AND REGULATIONS UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED The following information pursuant to this Amendment No. 2 amends the Schedule 13D dated July 19, 1999 ("Schedule 13D"). Unless otherwise indicated, each capitalized term used but not defined herein shall have the meaning assigned to such term in the Schedule 13D. Item 2 IDENTITY AND BACKGROUND. (a) The persons filing this Schedule 13D (each, a "Reporting Person" and collectively, "Reporting Persons") are (i) Capitol Bay Management, Inc. ("CBM"); (ii) Capitol Bay Securities, Inc. ("CBS"); and (iii) Capitol Bay Group, Inc. ("CBG"); (iv) Stephen C. Kircher ("Mr. Kircher"); (v) Steven Kay ("Mr. Kay"); and (vi) Larry D. Kelley ("Mr. Kelley"). The filing of this Schedule 13D should not be deemed an admission that CBM, CBS, CBG, Mr. Kircher, Mr. Kay and/or Mr. Kelley comprise a group within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act"). (b) The business address of Mr. Kay is 100 The Embarcadero, Penthouse Suite, San Francisco, CA 94105. The business address of Mr. Kelley is 5146 Arnold Avenue, McClellan, CA 95652 (c) Mr. Kay's principal occupation is as an attorney. Mr. Kelley's principal occupation is as a real estate developer. (d) - (e) None of the Reporting Persons nor, to the best knowledge of each Reporting Person, any director or executive officer of CBM, CBS or CBG, has been, during the last five years, (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) 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 judgement, 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. Item 4 PURPOSE OF TRANSACTION. The response set forth in Item 4 of the Schedule 13D is amended as follows: On December 21, 1999, CBM agreed to purchase all of Mr. Kay and Mr. Kelley's equity interest in CBG (the "Stock Agreement") and, as partial consideration for such purchase, CBM agreed to sell, assign and transfer 500,000 Shares of MSI(such shares were transferred with a valuation of $.07 per Share) to each of Mr. Kay and Mr. Kelley. Mr. Kay and Mr. Kelley each have executed a one (1) year irrevocable proxy in favor or Mr. Kircher, allowing him to vote the Shares on any matter submitted to shareholders of MSI, with the exception of any vote concerning any merger of MSI, any sale of all or substantially all of the assets of MSI or any reorganization to which MSI is a party. Mr. Kircher disclaims any beneficial ownership in the shares held by each of Mr. Kay and Mr. Kelley. On December 1, 1999 CBM transferred 2,000,000 Shares (such shares were transferred with a valuation of $.07 per Share)of MSI to Mr. Kircher as compensation. As of the date hereof, CBS beneficially owns 212,900 Shares, all of which were purchased in open market transactions for its own account and are currently held in inventory. Page 8 of 14 CBS is a wholly-owned subsidiary of CBG and CBG is, subsequent to the foregoing transactions with Mr. Kay and Mr. Kelley, wholly-owned by Mr. Kircher. Therefor, Mr. Kircher may be deemed to control CBG which may be deemed to control CBS. Mr. Kircher disclaims any beneficial ownership in the shares held by CBS. [SIGNATURES ON THE FOLLOWING PAGE] Page 9 of 14 SIGNATURES The filing of this Amendment No.2 to Schedule 13D and the disclosures herein shall not be deemed an admission that the Reporting Persons have had an acquisition of beneficial ownership of Shares or otherwise has become subject to an obligation to file a Schedule 13D relating to MSI, and shall not be deemed an admission that the Reporting Persons are the beneficial owner of MSI Shares for any purpose other than under Sections 13(d) and (g) of the Securities Exchange Act of 1934 and the rules thereunder. After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: January 7, 2000 CAPITOL BAY MANAGEMENT, INC. By: By: -------------------------------- -------------------------------- Stephen C. Kircher Stephen C. Kircher, President an individual CAPITOL BAY SECURITIES, INC. By: By: -------------------------------- -------------------------------- Stephen C. Kircher Steven Kay, President an individual CAPITOL BAY GROUP, INC. By: By: -------------------------------- -------------------------------- Stephen C. Kircher Larry D. Kelley, President an individual Page 10 of 14 EXHIBIT A JOINT FILING AGREEMENT Page 11 of 14 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing of a statement on Schedule 13D (including any and all amendments thereto) with respect to the Common Stock of Morrow Snowboards, Inc. and further agree that this Joint Filing Agreement be included as an Exhibit thereto. In addition, each party to this Agreement expressly authorizes each other to this Agreement to file on its behalf any and all amendments to such statement. Date: January 7, 2000 CAPITOL BAY MANAGEMENT, INC. By: By: -------------------------------- -------------------------------- Stephen C. Kircher Stephen C. Kircher, President an individual CAPITOL BAY SECURITIES, INC. By: By: -------------------------------- -------------------------------- Stephen C. Kircher Steven Kay, President an individual CAPITOL BAY GROUP, INC. By: By: -------------------------------- -------------------------------- Stepehn C. Kircher Larry D. Kelley, President an individual Page 12 of 14 EXHIBIT B LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF CAPITOL BAY MANAGEMENT, INC. CAPITOL BAY SECURITIES, INC. AND CAPITOL BAY GROUP, INC. Page 13 of 14 LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF CAPITOL BAY MANAGEMENT, INC. AND CAPITOL BAY SECURITIES, INC. CAPITOL BAY GROUP, INC. The executive officers and directors of Capitol Bay Group, Inc., Capitol Bay Management, Inc. and Capitol Bay Securities, Inc. are the same and are constituted as follows: OFFICERS Stephen C. Kircher - President and Chief Executive Officer Elizabeth A. McCargar - Secretary and Chief Financial Officer DIRECTORS Stephen C. Kircher Elizabeth A. McCargar Page 14 of 14 -----END PRIVACY-ENHANCED MESSAGE-----