UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Amplidyne Inc.
----------------------
(Name of Issuer)
Common Stock, par value $.0001 per share
----------------------------------------
(Title of Class of Securities)
032103103
----------------------
(CUSIP Number)
Harris Freedman
1241 Gulf of Mexico Drive
Long Boat Key, FL 34228
(941) 387-8388
with a copy to:
Scott E. Lerner, Esq.
Dechert
30 Rockefeller Plaza
New York, NY 10112
(212) 698-3574
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
June 29, 2001
----------------------
(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.
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* 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).
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NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
1
Bridge Ventures, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT [ ]
TO ITEMS 2(d) or 2(E)
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
Florida
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----------------------- --------- ----------------------------------------------
Number of 7 SOLE VOTING POWER
Shares
Beneficially 219,000 shares
owned by --------- ----------------------------------------------
each 8 SHARED VOTING POWER
reporting 0 shares
person with --------- ----------------------------------------------
9 SOLE DISPOSITIVE POWER
219,000
--------- ----------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
----------------------- --------- ----------------------------------------------
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
219,000 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES [ ]
CERTAIN SHARES*
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
2.8%
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TYPE OF REPORTING PERSON*
14
CO
------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
1
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
S.M.A.C.S. Holdings Corp.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT [ ]
TO ITEMS 2(d) or 2(E)
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--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Florida
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----------------------- --------- ----------------------------------------------
Number of 7 SOLE VOTING POWER
Shares
Beneficially 205,000 shares
owned by
each --------- ----------------------------------------------
reporting 8 SHARED VOTING POWER
person with 0 shares
--------- ----------------------------------------------
9 SOLE DISPOSITIVE POWER
205,000 shares
--------- ----------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
----------------------- --------- ----------------------------------------------
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
205,000 shares
------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES*
------------ -------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
2.6%
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TYPE OF REPORTING PERSON*
14
CO
------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
2
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Bridge Ventures, Inc. Defined Benefit Pension Plan and Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT [ ]
TO ITEMS 2(d) or 2(E)
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
Not applicable
--------- ----------------------------------------------------------------------
----------------------- --------- ----------------------------------------------
Number of 7 SOLE VOTING POWER
Shares
Beneficially 0 shares
owned by
each --------- ----------------------------------------------
reporting 8 SHARED VOTING POWER
person with 0 shares
--------- ----------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
--------- ----------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
----------------------- --------- ----------------------------------------------
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 shares
------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES*
------------ -------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
------------ -------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
EP
------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
3
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Bridge Ventures, Inc. Employee Benefit Plan
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--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[X]
----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT [ ]
TO ITEMS 2(d) or 2(E)
----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Not applicable
--------- ----------------------------------------------------------------------
----------------------- --------- ----------------------------------------------
Number of 7 SOLE VOTING POWER
Shares
Beneficially 50,000 shares
owned by
each --------- ----------------------------------------------
reporting 8 SHARED VOTING POWER
person with 0 shares
--------- ----------------------------------------------
9 SOLE DISPOSITIVE POWER
50,000 shares
--------- ----------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
----------------------- --------- ----------------------------------------------
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,000 shares
------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES*
------------ -------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
Less than 1%
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TYPE OF REPORTING PERSON*
14
EP
------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
4
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Harris Freedman
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--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b)[X]
----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
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--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT [ ]
TO ITEMS 2(d) or 2(E)
----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States of America
--------- ----------------------------------------------------------------------
----------------------- --------- ----------------------------------------------
Number of 7 SOLE VOTING POWER
Shares
Beneficially 474,000 shares
owned by
each --------- ----------------------------------------------
reporting 8 SHARED VOTING POWER
person with 0 shares
--------- ----------------------------------------------
9 SOLE DISPOSITIVE POWER
474,000 shares
--------- ----------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
----------------------- --------- ----------------------------------------------
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
474,000 shares
------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES*
------------ -------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.0%
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TYPE OF REPORTING PERSON*
14
IN
------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
5
Item 1. Security and Issuer.
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This Amendment No. 1 to Statement on Schedule 13D (this "Amendment")
amends and supplements the Statement on Schedule 13D filed with the Securities
and Exchange Commission on December 5, 2000 (the "Original Statement" and, as
amended by this Amendment, the "Statement") on behalf of (i) Bridge Ventures,
Inc., a Florida corporation ("BVI"), (ii) S.M.A.C.S Holdings Corp., a Florida
corporation ("SHC"), (iii) Bridge Ventures, Inc. Defined Benefit Pension Plan
and Trust ("BVIDBP"), (iv) Bridge Ventures, Inc. Employee Benefit Plan ("BVIEP")
and (v) Harris Freedman, an individual (collectively, the "Reporting Persons"),
relates to the common stock, par value $.0001 per share (the "Common Stock"), of
Amplidyne Inc., a Delaware corporation (the "Issuer"), and is being filed
pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"). The address of the principal executive office of the
Issuer is 59 LaGrange Street, Raritan, New Jersey 08869.
Item 3. Source and Amount of Funds or Other Consideration.
------ -------------------------------------------------
On June 29, 2001, BVI acquired in a privately negotiated transaction
with the Company (a) 50,000 shares of Common Stock for $1.50 per share or
$75,000 in the aggregate and (b) warrants for the purchase of 25,000 shares of
Common Stock exercisable at $3.00 per share.
On August 30, 2001, BVI purchased in the open market an aggregate of
5,000 shares of Common Stock for $1.27 per share or $6,350 in the aggregate.
On September 28, 2001, BVI purchased in the open market an aggregate of
30,000 shares of Common Stock for $1.02 per share or $30,600 in the aggregate.
On November 27, 2001, BVI sold in the open market 9,700 shares of
Common Stock for $1.00 per share or $9,700 in the aggregate.
On December 31, 2001, BVI sold in the open market (i) 24,689 shares of
Common Stock for $.78 per share or $19,257.42 in the aggregate and (ii) 24,000
shares of Common Stock for $.77 per share or $18,480 in the aggregate.
On November 27, 2001, SHC sold in the open market 20,000 shares of
Common Stock for $1.18 per share or $23,600 in the aggregate.
The funds used by BVI and SHC to purchase the shares of Common Stock
described above were obtained from the working capital of BVI and SHC. Neither
BVI nor SHC acquired beneficial ownership of any of the Common Stock with
borrowed funds.
Item 4. Purpose of Transaction.
------ ----------------------
The Reporting Persons have acquired the Common Stock for investment
purposes.
The Reporting Persons do not have any plans or proposals, other than
those described in this Item 4, which relate to or would result in any of the
actions or transactions specified in clauses (a) through (j) of Item 4 of
Schedule 13D. The Reporting Persons may from
6
time to time discuss among themselves and with other persons market conditions
and other factors concerning their investment in the Issuer, as well as specific
actions that might be taken in light of prevailing circumstances with respect to
such interests. The Reporting Persons reserve the right from time to time to
acquire or dispose of shares of the Common Stock.
Item 5. Interest in Securities of the Issuer.
------ ------------------------------------
(a)-(b) Based on the Issuer's definitive annual meeting proxy statement
on Schedule 14A, filed on November 28, 2001, there were issued and outstanding,
as of November 20, 2001, 7,892,661 shares of Common Stock.
Currently, as the majority stockholder and a controlling person of each
of BVI and SHC and by virtue of Mr. Freedman's relationship to BVIDBP and BVIEP
(as described in Item 2 of the Original Statement), Mr. Freedman may be deemed
to have the power to vote or direct the vote of, and the power to dispose of or
direct the disposition of, an aggregate of 474,000 shares of Common Stock
representing approximately 6.0% of the issued and outstanding shares of Common
Stock.
Of such 474,000 shares of Common Stock, BVI is the direct beneficial
owner of an aggregate of 219,000 shares, representing approximately 2.8% of the
issued and outstanding shares of Common Stock; SHC is the direct beneficial
owner of an aggregate of 205,000 shares, representing approximately 2.6% of the
issued and outstanding shares of Common Stock; and BVIEP is the direct
beneficial owner of an aggregate of 50,000 shares of Common Stock, representing
less than 1% of the issued and outstanding shares of Common Stock.
Each of BVI, SHC, BVIDBP and BVIEP hereby disclaims that it has any
beneficial ownership of the securities owned, directly or indirectly, by any
other Reporting Person.
(c) The date, number of shares and price per share for all purchases of
Common Stock made by the Reporting Persons during the 60 days prior to the date
of filing of this Amendment are set forth in Item 3. All such purchases, except
as otherwise noted in Item 3 were made by the Reporting Persons in the open
market on the Nasdaq Small Cap Market. Other than as set forth in Item 3, the
Reporting Persons have not effected any transactions involving any shares of
Common Stock during the past 60 days.
(d) Not applicable.
(e) Not applicable.
7
SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
Reporting Persons, the Reporting Persons certify that the information set forth
in this Statement is true, complete and correct.
Date: January 30, 2002 BRIDGE VENTURES, INC.
By: /s/ Harris Freedman
--------------------------------
Name: Harris Freedman
Title: Secretary
S.M.A.C.S. HOLDINGS CORP.
By: /s/ Harris Freedman
--------------------------------
Name: Harris Freedman
Title: Secretary
BRIDGE VENTURES, INC. DEFINED
BENEFIT PENSION PLAN AND TRUST
By: /s/ Harris Freedman
--------------------------------
Name: Harris Freedman
Title: Trustee
BRIDGE VENTURES, INC. EMPLOYEE
BENEFIT PLAN
By: /s/ Harris Freedman
--------------------------------
Name: Harris Freedman
Title: Trustee
HARRIS FREEDMAN
/s/ Harris Freedman
------------------------------------
Attention: Intentional misstatements or omissions of fact constitute
federal criminal violations (see 18 U.S.C. 1001).