-----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, J7xcrtFBkYTfSszOlzO1tB9jEYII0A0kKXOlxfsgHq+IKEgCK/KmJz8WCA0M665w UuAz5MRZu3vlHLUR2onUbQ== 0001015402-02-003796.txt : 20021114 0001015402-02-003796.hdr.sgml : 20021114 20021114151758 ACCESSION NUMBER: 0001015402-02-003796 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20021114 GROUP MEMBERS: DON C. WHITAKER, INC. GROUP MEMBERS: DON C. WHITAKER, JR. FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WHITAKER DON C CENTRAL INDEX KEY: 0001177308 FILING VALUES: FORM TYPE: SC 13D MAIL ADDRESS: STREET 1: 23 WIECHWOOD CITY: IRVINE STATE: TX ZIP: 92604 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SEEC INC CENTRAL INDEX KEY: 0000925524 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 550686906 STATE OF INCORPORATION: PA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-51997 FILM NUMBER: 02824815 BUSINESS ADDRESS: STREET 1: CLIFF MINE RD STREET 2: PARK WEST ONE STE 200 CITY: PITTSBURGH STATE: PA ZIP: 15275 BUSINESS PHONE: 4128930422 MAIL ADDRESS: STREET 1: CLIFF MINE ROAD STREET 2: PARK WEST ONE, SUITE 200 CITY: PITTSBURGH STATE: PA ZIP: 15275 SC 13D 1 doc1.htm EDGARfilings.com - Created for Don Whitaker using EDGARIZER HTML
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No.   )*



SEEC, Inc.
(Name of Issuer)

Common Stock $.001 Par Value
(Title of Class of Securities)

784110108
(CUSIP Number)


Don C. Whitaker
Don C. Whitaker, Inc.
23 Beechwood
Irvine, CA 92604
949-857-6008
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

November 12, 2002
(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1 (f) or 240.13d-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 § 240.13d-7 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. 784110108
  1. Names of Reporting Persons.
Don C. Whitaker
I.R.S. Identification No.
  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 if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  [  ]
  6. Citizenship or Place of Organization
USA
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With 		7. Sole Voting Power
142,400
8. Shared Voting Power
9. Sole Dispositive Power
142,400
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person
142,400
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   [  ]
  13. Percent of Class Represented by Amount in Row (11)
2.34%
  14. Type of Reporting Person
IN


2



SCHEDULE 13D
CUSIP No. 784110108
  1. Names of Reporting Persons.
Don C. Whitaker, Inc.
I.R.S. Identification No.
  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 if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  [  ]
  6. Citizenship or Place of Organization
USA
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With 		7. Sole Voting Power
8. Shared Voting Power
16,200
9. Sole Dispositive Power
10. Shared Dispositive Power
16,200
  11. Aggregate Amount Beneficially Owned by Each Reporting Person
16,200
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   [  ]
  13. Percent of Class Represented by Amount in Row (11)
.266%
  14. Type of Reporting Person
CO


3



SCHEDULE 13D
CUSIP No. 784110108
  1. Names of Reporting Persons.
Don C. Whitaker, Jr.
I.R.S. Identification No.
  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 if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  [  ]
  6. Citizenship or Place of Organization
USA
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With 		7. Sole Voting Power
187,030
8. Shared Voting Power
9. Sole Dispositive Power
187,030
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person
187,030
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   [  ]
  13. Percent of Class Represented by Amount in Row (11)
3.072%
  14. Type of Reporting Person
IN


4



Item 1. Security and Issuer

          Common stock of SEEC, Inc
         Park West One
         Suite 200
         Pittsburgh, PA 15275
         


Item 2. Identity and Background.


(a)

Name:  Don C. Whitaker


(b)

Residence or business address:  23 Beechwood 
Irvine, CA 92604
         


(c)

Present Principal Occupation or Employment: President
Don C. Whitaker, Inc. 
23 Beechwood 
Irvine, CA 92604


(d)

Criminal Conviction:  No


(e)

Court or Administrative Proceedings:  No


(f)

 Citizenship:  USA


Item 3. Source and Amount of Funds or Other Consideration:

Personal, retirement fund, and corporate funds of the individuals involved. All transactions were open market transactions and the new approximate amount utilized was $265,947.37 for the total amount of 345,630 shares.


Item 4. Purpose of Transaction

State the purpose or purposes of the acquisition of securities of the issuer. Describe any plans or proposals which the reporting persons may have which relate to or would result in:

The above described net purchases of common shares of SEEC, Inc. (SEEC) were made for investment purposes. Per SEEC press release dated October 29, 2002, SEEC balance sheet of September 30, 2002 "included cash and short-term investments of $12 million, or the equivalent of $1.97 per outstanding share of SEEC stock. The Whitakers believe that the cash position is excessive and are terribly discouraged with the most recent quarterly loss of $958,281 pre-interest credit on measly sales of only $869,127.

The Whitakers believe recent market conditions are inefficient and are substantially discounting the true value of SEEC. In addition to the discount from stated cash value, the marketplace is giving a negative value on the SEEC software solutions business which we feel would be more valuable under the umbrella of a larger entity given their proven products and industry respect. 

The Whitakers have been encouraged by recent implementations of cost reductions. The Whitakers intend at this time to encourage management in maximizing shareholder value which may or may not include company sponsored share repurchases, a self tender, distributions of excess cash, and/or the liquidation or sale of the entire company. We further intend to discourage any entries in new corporate ventures. 

While management evaluates its various strategic alternatives, an immediate Dutch tender for 3,000,000 shares in the $1.35 - $ 1.45 range would provide shareholders the opportunity to either participate in the tender or remain shareholders. The remaining shareholders would benefit from the purchase of shares by the company at below book value prices. 
          
The Whitakers may in the future determine to purchase additional securities of SEEC, Inc., or dispose of some or all of the securities they presently own, depending upon price, market conditions, availability of funds and other considerations. 

  ;        See Item 3. This party has no plans or proposals which relates to or would result in any action specified in clauses (a) through (h) of Item 4 of Schedule 13D.



5

(a)

The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer;

No
         


(b)

An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries;

Other than mentioned in "Purpose of Transaction


(c)

A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries;

Other than mentioned in "Purpose of Transaction.


(d)

Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;

Not at the present time


(e)

Any material change in the present capitalization or dividend policy of the issuer;

Other than mentioned in "Purpose of Transaction.


(f)

Any other material change in the issuer's business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940;

No


(g)

Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person;

Not at the present time


(h)

Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;

If a liquidation and/or sale of remaining businesses and assets were to happen then it is possible that the corporation would cease to exist.


(i)

A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or

See "H above


(j)

Any action similar to any of those enumerated above.

See "H above



Item 5. Interest in Securities of the Issuer.


(a)

Don C. Whitaker            142,400     2.34% 
Don C. Whitaker, Inc.     16,200     .266% 
Don C. Whitaker, Jr.     187,030    3.072%
         


(b)

Don C. Whitaker has sole power to vote and dispose of his shares. 

Don C. Whitaker and Don C. Whitaker, Jr. share responsibility to vote and dispose of Don C. Whitaker, Inc. shares. 

Don C. Whitaker, Jr. has the sole responsibility to vote and dispose of his shares.
         


(c)

During the last 60 days, Don C. Whitaker, Inc. net purchased 16,200 shares for total consideration of $11,415. During the last 60 days Don C. Whitaker net purchased 142,400 shares for a net consideration of approximately $110,633. During the past 60 days Don C. Whitaker, Jr., net purchased shares for a total consideration of $143,899.



(d)

None


(e)

N/A


Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

None



6


Item 7. Material to be Filed as Exhibits.

None


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.

 
Date:  November 14, 2002
  Don C. Whitaker
  By: /s/ Don C. Whitaker
             Don C. Whitaker
  Title: Individual 
 
  Don C. Whitaker, Inc.
  By: /s/ Don C. Whitaker
            Don C. Whitaker
  Title: President 
 
  Don C. Whitaker, Jr.
  By: /s/ Don C. Whitaker, Jr.
             Don C. Whitaker, Jr.
  Title: Individual 
 


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