SC 13D
1
schedule13d.txt
SCHEDULE 13D
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
International Isotopes Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
45972C 10 2
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(CUSIP Number)
Walter D. O'Hearn, Jr.
50 Broadway, 13th Floor
New York, NY 10004
(212) 422-1255
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 3, 2002
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(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 Rules 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 Rule 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).
1
CUSIP No.: ...45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....John M.McCormack................................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ....PF...........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...2,416,854.........................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA.............................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....2,416,854...................
---------------------------------------------------------------
10. Shared Dispositive Power .....NA.......................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....2,416,854.......................................................
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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13. Percent of Class Represented by Amount in Row (11) ....8.9%.........
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2
14. Type of Reporting Person (See Instructions)
.....IN.............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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3
CUSIP No.: ...45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....John William McCormack TUGMA....................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) .....PF..........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...785,056............................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA..............................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....785,056......................
---------------------------------------------------------------
10. Shared Dispositive Power ....NA.........................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....785,056.........................................................
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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4
13. Percent of Class Represented by Amount in Row (11) ....2.9%.........
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14. Type of Reporting Person (See Instructions)
....00..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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5
CUSIP No.: ...45972C 10 2..............
-------------------------------------------------------------------------------
1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Daniel Patrick McCormack TUGMA..................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ......PF.........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...785,056...........................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA.............................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....785,056.....................
---------------------------------------------------------------
10. Shared Dispositive Power .....NA.......................
-------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
....785,056.........................................................
-------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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6
13. Percent of Class Represented by Amount in Row (11) ......2.9%.......
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14. Type of Reporting Person (See Instructions)
....00..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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7
CUSIP No.: ...45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Meagan Anne McCormack TUGMA.....................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ...X.........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ......PF.........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...785,056...........................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA.............................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....785,056.....................
---------------------------------------------------------------
10. Shared Dispositive Power .....NA.......................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....785,056.........................................................
-------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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8
13. Percent of Class Represented by Amount in Row (11) .....2.9%........
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14. Type of Reporting Person (See Instructions)
....00..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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9
CUSIP No.: ....45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Marie C. Keane and James J. Keane JTWROS........................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ......PF.........................
-------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...NA.................................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....2,145,889.......................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....NA...........................
---------------------------------------------------------------
10. Shared Dispositive Power .....2,145,889.................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....2,145,889.......................................................
-------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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10
13. Percent of Class Represented by Amount in Row (11) .....7.9%........
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14. Type of Reporting Person (See Instructions)
....IN..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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11
CUSIP No.: ...45972C 10 2..............
-------------------------------------------------------------------------------
1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Walter D. O'Hearn, Jr...........................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ......PF.........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...1,492,567.........................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....560,322........................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....1,492,567...................
---------------------------------------------------------------
10. Shared Dispositive Power .....560,322..................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....2,052,889.......................................................
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ......................................................
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12
13. Percent of Class Represented by Amount in Row (11) ....7.6%.........
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14. Type of Reporting Person (See Instructions)
....IN..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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13
CUSIP No.: ...45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Ralph M. Richart................................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ......PF.........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...1,770,362.........................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA.............................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....1,770,362...................
---------------------------------------------------------------
10. Shared Dispositive Power .....NA.......................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....1,770,362.......................................................
-------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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14
13. Percent of Class Represented by Amount in Row (11) .....6.5%........
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14. Type of Reporting Person (See Instructions)
....IN..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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15
CUSIP No.: ...45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Thomas R. Kershner..............................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X........................................................
(b) .............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ......PF.........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...417,102...........................
Number of ---------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA.............................
Owned by
Each ---------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....417,102.....................
---------------------------------------------------------------
10. Shared Dispositive Power .....NA.......................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....417,102.........................................................
-------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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16
13. Percent of Class Represented by Amount in Row (11) .....1.5%........
-------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
....IN..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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17
CUSIP No.: ...45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Christopher G. Grasso...........................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X.......................................................
(b) ............................................................
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3. SEC Use Only .......................................................
-------------------------------------------------------------------------------
4. Source of Funds (See Instructions) ......PF.........................
-------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....USA........................
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7. Sole Voting Power ...372,916...........................
Number of --------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA.............................
Owned by
Each --------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....372,916.....................
--------------------------------------------------------------
10. Shared Dispositive Power .....NA.......................
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
....372,916.........................................................
-------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
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18
13. Percent of Class Represented by Amount in Row (11) .....1.4%........
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14. Type of Reporting Person (See Instructions)
....IN..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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19
CUSIP No.: ...45972C 10 2..............
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only).
....Keane Securities Co., Inc.......................................
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ....X.......................................................
(b) ............................................................
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3. SEC Use Only .......................................................
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4. Source of Funds (See Instructions) ......WC.........................
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ......NA...............................................
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6. Citizenship or Place of Organization ....New York...................
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7. Sole Voting Power ...560,322...........................
Number of --------------------------------------------------------------
Shares
Beneficially 8. Shared Voting Power ....NA.............................
Owned by
Each --------------------------------------------------------------
Reporting
Person With 9. Sole Dispositive Power ....560,322.....................
--------------------------------------------------------------
10. Shared Dispositive Power .....NA.......................
-------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
....560,322.........................................................
-------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) ...NA.................................................
-------------------------------------------------------------------------------
20
13. Percent of Class Represented by Amount in Row (11) ....2.1%.........
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14. Type of Reporting Person (See Instructions)
....BD..............................................................
....................................................................
....................................................................
....................................................................
....................................................................
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21
Item 1 Security and Issuer.
-------------------
Class of Securities: Common Stock
Issuer: International Isotopes Inc.
4137 Commerce Circle
Idaho Falls, Idaho 83401
Item 2 Identity and Background.
-----------------------
(a) John M. McCormack
(b) 1303 Campbell Road
Houston, Texas 77055
(c) Owner of Visible Changes, Inc. - Beautician Shops
Principal Address:
1303 Campbell Road
Houston, Texas 77055
(d) NA
(e) NA
(f) USA Citizen
(a) John William McCormack, TUGMA
(b) 1303 Campbell Road
Houston, Texas 77055
(c) Student
(d) NA
(e) NA
(f) USA Citizen
22
(a) Daniel Patrick McCormack, TUGMA
(b) 1303 Campbell Road
Houston, Texas 77055
(c) Student
(d) NA
(e) NA
(f) USA Citizen
(a) Meagan Anne McCormack, TUGMA
(b) 1303 Campbell Road
Houston, Texas 77055
(c) Student
(d) NA
(e) NA
(f) USA Citizen
(a) Marie C. Keane and James J. Keane, JTWROS
(b) 1 Herron Road
Edison, NJ 08820
(c) Employer: Keane Securities Co., Inc. - Member of New York Stock
Exchange, Inc.
Principal Address:
50 Broadway, 13th floor
New York, NY 10004
(d) NA
(e) NA
(f) USA Citizen
23
(a) Walter D. O'Hearn, Jr.
(b) 115 Fifth Avenue
New York, NY 10128
(c) Employer: Keane Securities Co., Inc. - Member of New York Stock
Exchange, Inc.
Principal Address:
50 Broadway, 13th floor
New York, NY 10004
(d) NA
(e) NA
(f) USA Citizen
(a) Ralph M. Richart
(b) 350 Shore Drive
Oakdale, NY 11769
(c) Employer: Columbia Presbyterian Medical Center
Principal Address:
350 Shore Drive
Oakdale, NY 11769
(d) NA
(e) NA
(f) USA Citizen
24
(a) Dr. Thomas R. Kershner
(b) 480 Broadway, Suite 310
Saratoga Springs, NY 12866
(c) Employer: Kennerman Associates, Inc. - Investment Advisors
Principal Address:
480 Broadway, Suite 310
Saratoga Springs, NY 12866
(d) NA
(e) NA
(f) USA Citizen
(a) Christopher G. Grosso
(b) 480 Broadway, Suite 310
Saratoga Springs, NY 12866
(c) Employer: Kennerman Associates, Inc. - Investment Advisors
Principal Address:
480 Broadway, Suite 310
Saratoga Springs, NY 12866
(d) NA
(e) NA
(f) USA Citizen
(a) Keane Securities Co., Inc.
(b) 50 Broadway, 13th Floor
New York, NY 10004
(c) Officers, Directors and Shareholders - Marie C. Keane, James J. Keane,
Walter D. O'Hearn, Jr. (See above)
(d) NA
(e) NA
(f) New York Corporation
25
Item 3 Source and Amount of Funds or other Consideration.
-------------------------------------------------
Each of the above individuals purchased its shares of common stock with personal
funds. Keane Securities purchased its shares with working capital funds.
Item 4 Purpose of Transaction.
----------------------
(a) The above reporting persons are acting together as a group to purchase
all of the currently outstanding shares of Series A Preferred Stock of
International Isotopes Inc. ("I(3)") The shares of Series A Preferred
Stock are convertible into shares of I(3) Common Stock at a conversion
price of $2.00 per share. The Preferred Stock is mandatorily redeemable
by I(3) in May and October 2002, either in cash or in shares of Common
Stock based on the then current market value of the underlying Common
Stock. The above persons intend to enter into negotiations with
management of I(3) to postpone the mandatory redemption until at least
2003. The above persons also may acquire shares of the I(3)'s
outstanding Series B Preferred Stock, which is mandatorily redeemable
in 2003 on terms similar to the Series A Preferred Stock. The above
reporting persons currently intend to maintain I(3) as a publicly
traded corporation and to position it for possible, as yet unknown,
acquisitions and/or mergers. As a group, the above persons beneficially
own 11,531,180 shares of the Common Stock of I(3) which represents
approximately 42.7% of the currently beneficially held shares. Of these
shares, 4,123,369 are currently outstanding, and the remaining
7,407,811 shares represent shares issuable upon conversion of Series A
Preferred Stock or Series B Preferred Stock or in payment of interest
on the Series B Preferred Stock.
(b) See Item 7 above for each of the reporting persons for a list of the
number of shares as to which each has sole or shared power to vote and
sole or shared power to dispose or direct the disposition.
(c) Each of the above persons within the last sixty days acquired (i) the
number of shares of I(3) Series A Preferred Stock listed in column 1,
which is convertible into the number of common shares listed in column
2, and (ii) the additional shares of common stock listed in column 3.
Series A Common Stock into which Additional
Name Shares Purchased Series A is Convertible Common Stock
---- ---------------- ----------------------- ------------
John M. McCormack 2,286 1,143,000 477,219
John William McCormack 571 285,500 119,306
Daniel Patrick McCormack 571 285,500 119,306
Meagan Anne McCormack 571 285,500 119,306
Marie C. Keane and 2,000 1,000,000 417,567
James J. Keane
Walter D. O'Hearn, Jr. 2,000 1,000,000 417,567
Ralph M. Richart 1,429 714,500 298,262
26
Series A Common Stock into which Additional
Name Shares Purchased Series A is Convertible Common Stock
---- ---------------- ----------------------- ------------
Dr. Thomas R. Kershner 286 143,000 59,652
Christopher G. Grosso 286 143,000 59,652
Keane Securities Co., Inc. 0 0 0
Totals _______ _________ _________
10,000 5,000,000 2,087,837
(d) NA
(e) NA
Item 5 Contracts, Arrangements, Understandings or Relationships with Respect
---------------------------------------------------------------------
to Securities of the Issuer.
---------------------------
The above reporting persons and I(3) have entered into an agreement (see Exhibit
1 of Item 7) pursuant to which:
(a) Reporting persons would acquire all the Series A Preferred Stock and
certain shares of Common Stock from their current owner.
(b) I(3) would acquire up to $100,000 worth of Series B Preferred Stock
from its current owners.
(c) Parties would negotiate a modification of the terms of the Series A
Preferred Stock that would include, but not be limited to,
recalculation of the quarterly dividend payment and a change in the
mandatory redemption date.
(d) I(3) and the above reporting persons will use their best efforts to
cause a modification of the terms of the Series B Preferred Stock to
that described above for the Series A Preferred Stock.
Item 6 Material to be filed as Exhibits.
--------------------------------
Exhibit 1 Letter Agreement between International Isotopes Inc. and Keane
Securities Co., Inc. as agent for the above reporting persons.
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.
/s/ John M. McCormack
---------------------
Date: January 11, 2002 John M. McCormack
27
/s/ John William McCormack, TUGMA
---------------------------------
Date: January 11, 2002 John William McCormack, TUGMA
/s/ Daniel Patrick McCormack, TUGMA
-----------------------------------
Date: January 11, 2002 Daniel Patrick McCormack, TUGMA
/s/ Meagan Anne McCormack, TUGMA
--------------------------------
Date: January 11, 2002 Meagan Anne McCormack, TUGMA
/s/ Marie C. Keane
------------------
Date: January 11, 2002 Marie C. Keane
/s/ James J. Keane
------------------
Date: January 11, 2002 James J. Keane
/s/ Walter D. O'Hearn, Jr.
--------------------------
Date: January 11, 2002 Walter D. O' Hearn, Jr.
/s/ Ralph M. Richart
--------------------
Date: January 11, 2002 Ralph M. Richart
/s/ Dr. Thomas R. Kershner
--------------------------
Date: January 11, 2002 Dr. Thomas R. Kershner
/s/ Christopher G. Grosso
-------------------------
Date: January 11, 2002 Christopher G. Grosso
Date: January 11, 2002 Keane Securities Co., Inc.
By: /s/ Walter D. O'Hearn, Jr.
--------------------------
Name: Walter D. O'Hearn, Jr.
Title: Principal
28
Table of Exhibits
Exhibit
Number Name of Exhibit
------- ---------------
Exhibit 1 Letter Agreement between International Isotopes Inc. and Keane
Securities Co., Inc. as agent for the above reporting persons.
29