-----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, WWLZnCgQwYc5NzgSuFF1jRwbIg0AjGdepfsiInT5CRoXo/2X62qY8JMDLW8H0Q0h mO1H0AheBchswFKAjceegg== 0001035570-98-000009.txt : 19980714 0001035570-98-000009.hdr.sgml : 19980714 ACCESSION NUMBER: 0001035570-98-000009 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980710 SROS: NONE GROUP MEMBERS: AUSTIN W. MARXE GROUP MEMBERS: DAVID M. GREENHOUSE GROUP MEMBERS: MG ADVISERS L.L.C GROUP MEMBERS: SPECIAL SITUATIONS PRIVATE EQUITY FUND L P GROUP MEMBERS: SPECIAL SITUATIONS PRIVATE EQUITY FUND, L.P. GROUP MEMBERS: SPECIAL SITUATIONS TECHNOLOGY FUND, L.P. GROUP MEMBERS: SST ADVISERS L.L.C SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PRECISION OPTICS CORPORATION INC CENTRAL INDEX KEY: 0000867840 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 042795294 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-41468 FILM NUMBER: 98664596 BUSINESS ADDRESS: STREET 1: 22 EAST BROADWAY CITY: GARDNER STATE: MA ZIP: 01440-3338 BUSINESS PHONE: 5086301800 FORMER COMPANY: FORMER CONFORMED NAME: PRECISION OPTICS CORP INC DATE OF NAME CHANGE: 19600201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SPECIAL SITUATIONS PRIVATE EQUITY FUND L P CENTRAL INDEX KEY: 0001035570 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133916551 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 153 EAST 53RD ST STREET 2: 51ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2128325300 MAIL ADDRESS: STREET 1: 153 EAST 53RD ST STREET 2: 51ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. ______)* Precision Optics Corporation Inc. ______________________________________________________ (Name of Issuer) Common Stock, $0.01 Par Value ______________________________________________________ (Title of Class of Securities) 740294103 ____________________________________ (CUSIP Number) June 30, 1998 ------------------------------------------------------- (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 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). CUSIP No.740294103 13G Page 2 of 12 - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Special Situations Private Equity Fund, L.P. F13-3916551 MG Advisers, L.L.C. F13-3916549 - ---------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | | (b) |X| - ---------------------------------------------------------------- (3) SEC USE ONLY - ---------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware/New York - ---------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 750,000 (including 375,000 SHARES warrants) BENEFICIALLY ------------------------------------------------ OWNED BY (6) SHARED VOTING POWER None EACH REPORTING ------------------------------------------------- PERSON WITH: (7) SOLE DISPOSITIVE POWER 750,000 (including 375,000 warrants ------------------------------------------------ (8) SHARED DISPOSITIVE POWER None - ---------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 750,000 (including 375,000 warrants) - ---------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) - ---------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 10.7 - ---------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (See Instructions) IV/IA - ---------------------------------------------------------------- CUSIP No. 740294103 13G Page 3 of 12 - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Special Situations Technology Fund, L.P. F13-3937585 SST Advisers, L.L.C. F13-3937583 - ---------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | | (b) |X| - ---------------------------------------------------------------- (3) SEC USE ONLY - ---------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 250,000 (including SHARES 125,000 warrants BENEFICIALLY ------------------------------------------------- OWNED BY (6) SHARED VOTING POWER None EACH ------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER 250,000 (including PERSON WITH: 125,000 warrants) ------------------------------------------------- (8) SHARED DISPOSITIVE POWER None - ---------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 250,000 (including 125,000 warrants) - ---------------------------------------------------------------- (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 3.7 - ---------------------------------------------------------------- (12) TYPE OF REPORTING PERSON* IV/IA - ---------------------------------------------------------------- CUSIP No. 740294103 13G Page 4 of 12 - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY). Austin W. Marxe - ---------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | | (b) |X| - ---------------------------------------------------------------- (3) SEC USE ONLY - ---------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - ---------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER None SHARES ------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 1,000,000 OWNED BY (including 500,000 warrants) EACH ------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER None PERSON WITH: ------------------------------------------------- (8) SHARED DISPOSITIVE POWER 1,000,000 (including 500,000 warrants) - ---------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 1,000,000 (including 500,000 warrants) - ---------------------------------------------------------------- (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 14.0 - ---------------------------------------------------------------- (12) TYPE OF REPORTING PERSON* IN - ---------------------------------------------------------------- CUSIP No. 740294103 13G Page 5 of 12 - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY). David M. Greenhouse - ---------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | | (b) |X| - ---------------------------------------------------------------- (3) SEC USE ONLY - ---------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - ---------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER None SHARES ------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 1,000,000 OWNED BY (including 500,000 warrants) EACH ------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER None PERSON WITH: ------------------------------------------------- (8) SHARED DISPOSITIVE POWER 1,000,000 (including 500,000 warrants) - ---------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 1,000,000 (including 500,000 warrants) - ---------------------------------------------------------------- (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 14.0 - ---------------------------------------------------------------- (12) TYPE OF REPORTING PERSON* IN - ---------------------------------------------------------------- Page 6 of 12 Pages Item 1. (a) Name of Issuer: Precision Optics Corporation Inc. (b) Address of Issuer's Principal Executive Offices: 22 East Broadway, Gardner, MA 01440-3338 Item 2. (a) Name of Person Filing: This statement is filed on behalf of (i) Special Situations Private Equity Fund, L.P., a Delaware limited partnership (the "Private Equity Fund"); (ii) Special Situations Technology Fund, L.P. , a Delaware Limited Partnership (the "Technology Fund"); (iii) MG Advisers L.L.C., a New York limited liability company, ("MG"); (iv) SST Advisers, L.L.C., a Delaware limited liability company ("SST"); (v) Austin W. Marxe and (vi) David Greenhouse. Each of the foregoing is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." (b) Address of Principal Business Office or, if none, Residence: The principal office and business address of the Reporting Persons is 153 East 53 Street, New York, New York 10022. (c) Citizenship: The Private Equity Fund and Technology Fund are Delaware limited partnerships. MG is a New York limited liability company and SST Advisers L.L.C. is a Delaware limited partnership. Austin W. Marxe and David M. Greenhouse are United States citizens. The business of the Private Equity Fund and the Technology Fund is to acquire, purchase, Page 7 of 12 Pages invest in, sell, convey, transfer, exchange and otherwise trade in principally equity and equity related securities. The principal business of MG is to act as general partner of and investment adviser to the Private Equity Fund. The principal business of SST is to act as general partner of and investment adviser to the Technology Fund. The principal occupation of Austin W. Marxe and David Greenhouse is to serve as officers, directors and members or principal shareholders of the Advisers. 2(d) Title of Class of Securities: See cover sheets. 2(e) CUSIP Number: See cover sheets. Item 3. If this statement is filed pursuant to $240.13d-1(b) or 240.13d-2(b), check whether the person filing is a: (a) ( ) Broker or Dealer registered under section 15 of the Act; (b) ( ) Bank as defined in section 3(a) (6) of the Act; (c) ( ) Insurance Company as defined in section 3(a) (19) of the Act; (d) (x) Investment Company registered under section 8 of the Investment Company Act of 1940; (e) (x) An Investment Adviser in accordance with $240.13d- 1(b)(I)(ii)(E); (f) ( ) An employee benefit plan or endowment fund in accordance with $240.13d-1(b)(I)(ii)(F); Page 8 of 12 Pages (g) (x) 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; (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; (j) ( ) Group, in accordance with $240.13d-1(b)(1)(ii)(J). See Exhibit A attached hereto. Item 4. Ownership: (a) Amount Beneficially Owned: 1,000,000 shares of Common Stock are beneficially owned by Austin W. Marxe and David Greenhouse; of which 375,000 shares of common stock and 375,000 warrants are owned by the Private Equity Fund and 125,000 shares of common stock and 125,000 warrants are owned by the Technology Fund. (b) Percent of Class: 14.0 percent of the Common Stock are beneficially owned by Austin Marxe and David Greenhouse. 10.7 percent of the Common Stock are beneficially owned by the Private Equity Fund and 3.7 percent are beneficially owned by the Technology Fund. (c) Number of Shares as to which the person has Rights to Vote and/or Dispose of Securities: The Private Equity Fund, MG Adviser L.L.C , the Technolgy Fund and SST Advisers L.L.C. have sole power to vote or to direct the vote and to dispose or to direct the disposition of all Page 9 of 12 Pages securities reported hereby which are respectively beneficially owned by each Fund and its Adviser. Austin Marxe and David Greenhouse have shared power to vote or to direct the vote of and to dispose or to direct the disposition of securities reported hereby which are beneficially owned by Austin Marxe and David Greenhouse by virtue of being Executive Officers of the Investment Advisers. 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 that five percent of the class of securities, check the following . Item 6.Ownership of More than Five Percent on Behalf of Another Person: The Private Equity Fund and the Technology Fund as owners of the securities in question, have the right to receive any dividends from, or proceeds from the sale of, such securities. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security being Reported on By the Parent Holding Company: See Exhibit A attached hereto. Item 8. Identification and Classification of Members of the Group: Not applicable Item 9. Notices of Dissolution of Group: Not applicable. Page 10 of 12 Pages 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. Page 11 of 12 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. Dated: July 10, 1998 SPECIAL SITUATIONS PRIVATE EQUITY FUND, L.P. By:/s/ Austin W. Marxe Austin W. Marxe Managing Director MG ADVISERS L.L.C. By:/s/ Austin W. Marxe Austin W. Marxe President and Chief Executive Officer SPECIAL SITUATIONS TECHNOLOGY FUND, L.P. By: /s/ Austin W. Marxe Austin W. Marxe Managing Director SST ADVISERS L.L.C By: /s/ Austin W. Marxe Austin W. Marxe President and CEO /s/ Austin W. Marxe AUSTIN W. MARXE /s/David M Greenhouse Page 12 of 12 Pages EXHIBIT A This Exhibit explains the relationship between the Reporting Persons. AWM is the sole general partner of MGP, a registered investment adviser under the Investment Advisers Act of 1940, as amended. MGP is a general partner of and investment adviser to the Fund. AWM is a registered investment adviser under the Investment Advisers Act of 1940 and also serves as the general partner of, and investment adviser to, the Cayman Fund. Austin W. Marxe is the principal owner and President of AWM. -----END PRIVACY-ENHANCED MESSAGE-----