-----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, M9Wv6TvVarkongzyg5L2kWbdg6th96zxOja1aCdJjmvXrecoMUbSBHJczzskUKUW ZDxRRma50h8xt6hj/TD70w== 0000894579-04-000029.txt : 20040319 0000894579-04-000029.hdr.sgml : 20040319 20040319122737 ACCESSION NUMBER: 0000894579-04-000029 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040319 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ENDOWMENT CAPITAL GROUP LLC CENTRAL INDEX KEY: 0001283815 IRS NUMBER: 770621719 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ACTION PERFORMANCE COMPANIES INC CENTRAL INDEX KEY: 0000892147 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISC DURABLE GOODS [5090] IRS NUMBER: 860704792 STATE OF INCORPORATION: AZ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-45273 FILM NUMBER: 04679298 BUSINESS ADDRESS: STREET 1: 1480 SOUTH HOHOKAM DRIVE CITY: TEMPE STATE: AZ ZIP: 85281 BUSINESS PHONE: 6023373700 MAIL ADDRESS: STREET 1: 1480 SOUTH HOHOKAM DRIVE CITY: TEMPE STATE: AZ ZIP: 85281 SC 13G 1 apc-sch13g.txt ACTION PERFORMANCE COMPANIES, INC. SCHEDULE 13G --------------------- ---------------------------- CUSIP No. 004933107 Page 1 of 12 Pages --------------------- ---------------------------- SEC 1745 (02-02): 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. OMB APPROVAL OMB Number: 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response. . . 11 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _) Action Performance Companies, Inc. ---------------------------------- (Name of Issuer) Common Stock ------------------------------ (Title of Class of Securities) 004933107 -------------- (CUSIP Number) March 12, 2004 ------------------------------------------------------- (Date of Event which Requires Filing of this Statement) 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 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. --------------------- ---------------------------- CUSIP No. 004933107 Page 2 of 12 Pages --------------------- ---------------------------- --------- --------------------------------------------------------------------- NAME OF REPORTING PERSON 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Endowment Capital, L.P. 77-0621714 --------- --------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ x ] 2 (b) [ ] --------- --------------------------------------------------------------------- SEC USE ONLY 3 --------- --------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 Delaware ------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH REPORTING 1,034,000 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------------------------------- SHARED DISPOSITIVE POWER 8 1,034,000 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5.64% ----------- ------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] ----------- ------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.64% ----------- ------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON PN ----------- ------------------------------------------------------------------ --------------------- ---------------------------- CUSIP No. 004933107 Page 3 of 12 Pages --------------------- ---------------------------- --------- --------------------------------------------------------------------- NAME OF REPORTING PERSON 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Long Drive, L.P. 84-1639266 --------- --------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ x ] 2 (b) [ ] --------- --------------------------------------------------------------------- SEC USE ONLY 3 --------- --------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 Delaware ------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH REPORTING 1,034,000 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------------------------------- SHARED DISPOSITIVE POWER 8 1,034,000 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5.64% ----------- ------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] ----------- ------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.64% ----------- ------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON PN ----------- ------------------------------------------------------------------ --------------------- ---------------------------- CUSIP No. 004933107 Page 4 of 12 Pages --------------------- ---------------------------- --------- --------------------------------------------------------------------- NAME OF REPORTING PERSON 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) ENDOWMENT CAPITAL GROUP, LLC 77-0621719 --------- --------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ x ] 2 (b) [ ] --------- --------------------------------------------------------------------- SEC USE ONLY 3 --------- --------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 Delaware ------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH REPORTING 1,034,000 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------------------------------- SHARED DISPOSITIVE POWER 8 1,034,000 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5.64% ----------- ------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] ----------- ------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.64% ----------- ------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON CO ----------- ------------------------------------------------------------------ --------------------- ---------------------------- CUSIP No. 004933107 Page 5 of 12 Pages --------------------- ---------------------------- --------- --------------------------------------------------------------------- NAME OF REPORTING PERSON 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Endowment Management, LLC 04-3771199 --------- --------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ x ] 2 (b) [ ] --------- --------------------------------------------------------------------- SEC USE ONLY 3 --------- --------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 Delaware ------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH REPORTING 1,034,000 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------------------------------- SHARED DISPOSITIVE POWER 8 1,034,000 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5.64% ----------- ------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] ----------- ------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.64% ----------- ------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON CO ----------- ------------------------------------------------------------------ --------------------- ---------------------------- CUSIP No. 004933107 Page 6 of 12 Pages --------------------- ---------------------------- --------- --------------------------------------------------------------------- NAME OF REPORTING PERSON 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Philip Timon --------- --------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ x ] 2 (b) [ ] --------- --------------------------------------------------------------------- SEC USE ONLY 3 --------- --------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 United States of America ------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH REPORTING 1,034,000 PERSON WITH -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------------------------------- SHARED DISPOSITIVE POWER 8 1,034,000 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5.64% ----------- ------------------------------------------------------------------ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] ----------- ------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.64% ----------- ------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON IN ----------- ------------------------------------------------------------------ --------------------- ---------------------------- CUSIP No. 004933107 Page 7 of 12 Pages --------------------- ---------------------------- Item 1. (a). Name of Issuer: ACTION PERFORMANCE COMPANIES, INC. (b). Address of Issuer's Principal Executive Offices: 4707 E. Baseline Road Phoenix, AZ 08542 Item 2. (a). Name of Persons Filing: This Statement is being filed jointly by (i) Endowment Capital, L.P., a Delaware limited partnership ("Endowment"); (ii) Long Drive, L.P., a Delaware limited partnership ("Long Drive"); (iii) Endowment Capital Group, LLC, a Delaware limited liability company, which serves as general partner to Endowment and Long Drive (the "General Partner"); (iv) Endowment Management, LLC, a Delaware limited liability company, which serves as investment manager to Endowment and Long Drive (the "Manager"); and (v) Mr. Philip Timon, who serves as the managing member of the General Partner and the Manager. Endowment, Long Drive, the General Partner, the Manager, and Philip Timon are sometimes also referred to herein individually as a "Reporting Person" and collectively as "Reporting Persons". (b). Address of Principal Business Office for Each of the Above: (i) Endowment Capital, L.P. -- The address of Endowment's principal business and principal office is 1007 N. Orange Street, Suite 757, Wilmington, DE 19801. (ii) Long Drive, L.P. -- The address of Long Drive's principal business and principal office is 1007 N. Orange Street, Suite 757, Wilmington, DE 19801. (iii) Endowment Capital Group, LLC -- The address of the General Partner's principal business and principal office is 1007 N. Orange Street, Suite 757, Wilmington, DE 19801. (iv) Endowment Management, LLC -- The address of the Manager's principal business and principal office is 1007 N. Orange Street, Suite 757, Wilmington, DE 19801. (v) Philip Timon -- Mr. Philip Timon's principal address is 1007 N. Orange Street, Suite 757, Wilmington, DE 19801. (c). Citizenship or Place of Organization: Endowment, Long Drive, the General Partner, and the Manager are organized under the laws of the State of Delaware. Philip Timon is a citizen of the United States. (d). Title of Class of Securities: Common Stock (e). CUSIP Number: 004933107 --------------------- ---------------------------- CUSIP No. 004933107 Page 8 of 12 Pages --------------------- ---------------------------- Item 3. If this Statement is Filed Pursuant to Rules 13d-1(b) or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Exchange Act; (b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act; (c) [ ] Insurance company as defined in Section 3(a)(19) of the Exchange Act; (d) [ ] Investment company registered under Section 8 of the Investment Company Act; (e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [ ] A savings associations 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) [X] Group, in accordance with Rule 13d-1(b)(1) (ii)(J). Item 4. Ownership. (a). Amount beneficially owned: (i) Endowment Capital, L.P. 1,034,000 (ii) Long Drive, L.P. 1,034,000 (iii) Endowment Capital Group, LLC1 1,034,000 (iv) Endowment Management, LLC2 1,034,000 (v) Philip Timon3 1,034,000 - --------------------- 1 Endowment Capital Group, LLC is the General Partner of Endowment Capital, L.P. and Long Drive, L.P., subject to the overall control of the managing member, Philip Timon. 2 Endowment Management, LLC is the investment manager of Endowment Capital, L.P. and Long Drive, L.P., subject to the overall control of the managing member, Philip Timon, and thus could be deemed to share the power to vote and dispose or direct the disposition of such Shares. 3 Philip Timon is the managing member is deemed to posses a controlling interest in Endowment Management, LLC and thus could be deemed to share the power to vote and dispose or direct the disposition of such Shares. --------------------- ---------------------------- CUSIP No. 004933107 Page 9 of 12 Pages --------------------- ---------------------------- (b). Percent of class: (i) Endowment Capital, L.P. 5.64% (ii) Long Drive, L.P. 5.64% (iii) Endowment Capital Group, LLC 5.64% (iv) Endowment Management, LLC 5.64% (v) Philip Timon 5.64% (c). Number of shares as to which such person has: (1) Sole power to vote or to direct the vote: (i) Endowment Capital, L.P. 0 (ii) Long Drive, L.P. 0 (iii) Endowment Capital Group, LLC 0 (iv) Endowment Management, LLC 0 (v) Philip Timon 0 (2) Shared power to vote or to direct the vote: (i) Endowment Capital, L.P. 1,034,000 (ii) Long Drive, L.P. 1,034,000 (iii) Endowment Capital Group, LLC 1,034,000 (iv) Endowment Management, LLC 1,034,000 (v) Philip Timon 1,034,000 (3) Sole power to dispose or to direct the disposition of: (i) Endowment Capital, L.P. 0 (ii) Long Drive, L.P. 0 (iii) Endowment Capital Group, LLC 0 (iv) Endowment Management, LLC 0 (v) Philip Timon 0 --------------------- ---------------------------- CUSIP No. 004933107 Page 10 of 12 Pages --------------------- ---------------------------- (4) Shared power to dispose or to direct the disposition of: (i) Endowment Capital, L.P. 1,034,000 (ii) Long Drive, L.P. 1,034,000 (iii) Endowment Capital Group, LLC 1,034,000 (iv) Endowment Management, LLC 1,034,000 (v) Philip Timon 1,034,000 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: Not Applicable. Item 7. Identification and Classification of Subsidiaries which Acquired the Security Being Reported on by the Parent Holding Company: Not Applicable. ITEM 8. Identification and Classification of Members of the Group: See Item 2. ITEM 9. Notice of Dissolution of Group: Not Applicable. --------------------- ---------------------------- CUSIP No. 004933107 Page 11 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. SIGNATURES 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. ENDOWMENT CAPITAL, L.P. Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member of Endowment Capital Group, LLC, general partner LONG DRIVE, L.P. Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member of Endowment Capital Group, LLC, general partner ENDOWMENT CAPITAL GROUP, LLC Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member ENDOWMENT MANAGEMENT, LLC Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member --------------------- ---------------------------- CUSIP No. 004933107 Page 12 of 12 Pages --------------------- ---------------------------- EXHIBIT 1 JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(k) In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agrees that the foregoing statement on Schedule 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement on the 19th day of March, 2004. ENDOWMENT CAPITAL, L.P. Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member of Endowment Capital Group, LLC, general partner LONG DRIVE, L.P. Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member of Endowment Capital Group, LLC, general partner ENDOWMENT CAPITAL GROUP, LLC Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member ENDOWMENT MANAGEMENT, LLC Date: March 19, 2004 By /s/ Philip Timon --------------------------------------------- Philip Timon, managing member -----END PRIVACY-ENHANCED MESSAGE-----