Schedule 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

 

 

Under the Securities Exchange Act of 1934

 

 

 

 

The Stephan Co.

(Name of Issuer)

 

 

COMMON STOCK, $.01 par value

(Title of Class of Securities)

 

 

858603103

(CUSIP Number)

 

 

Tamara R. Wagman

124 E. 4th Street

Tulsa, Oklahoma 74103

(918) 583-9922

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

December 30, 2004

(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(b)(3) or (4), check the following box  ¨.

 

*   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).

CUSIP NO.858603103    SCHEDULE 13D     

 

  1.  

NAME OF REPORTING PERSON

 

            Yorktown Avenue Capital, LLC

    
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

    
  3.  

SEC USE ONLY

 

    
  4.  

SOURCE OF FUNDS

 

            See Item 3

    
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

   ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Oklahoma

    
   

  7.    SOLE VOTING POWER

 

                219,300

  8.    SHARED VOTING POWER

 

                -0-

  9.    SOLE DISPOSITIVE POWER

 

                219,300

10.    SHARED DISPOSITIVE POWER

 

                -0-

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            219,300

    
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  

¨

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            5.0%

    
14.  

TYPE OF REPORTING PERSON

 

            OO ( Limited Liability Company)

    

 

CUSIP NO. 858603103   SCHEDULE 13D    

 

  1.  

NAME OF REPORTING PERSON

 

            Charles M. Gillman

    
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨

(b)  ¨

    
  3.  

SEC USE ONLY

 

    
  4.  

SOURCE OF FUNDS*

 

            See Item 3

    
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

   ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            United States of America

    
   

  7.    SOLE VOTING POWER

 

                219,300

  8.    SHARED VOTING POWER

 

                -0-

  9.    SOLE DISPOSITIVE POWER

 

                219,300

10.    SHARED DISPOSITIVE POWER

 

                -0-

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            219,300

    
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  

¨

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            5.0%

    
14.  

TYPE OF REPORTING PERSON

 

             IN

    

 

CUSIP NO. 858603103   SCHEDULE 13D    

 

Item 1. Security and Issuer

 

This Schedule 13D relates to shares of Common Stock, $.01 par value (the “Common Stock”) of The Stephen Co., a Florida corporation (the “Issuer”). The principal executive office and mailing address of the Issuer is 1850 West McNab Road, Fort Lauderdale, Florida 33309.

 

Item 2. Identity and Background

 

This Schedule 13D is being filed by Yorktown Avenue Capital, LLC, a limited liability company, managed by Charles M. Gillman.

 

Yorktown is an Oklahoma limited liability company whose principal business is business investment. Charles M. Gillman, is the Manager.

 

The principal business office address of Yorktown Avenue Capital, LLC is 415 South Boston, 9th Floor, Tulsa, Oklahoma 74103. The names and addresses are as follows:

 

Name and Office Held

   

Business Address

   

Citizenship

   

Principal

Occupation or

Employment

Charles M. Gillman,

Manager

   

15 E. 5th Street,

Tulsa, OK 74013

    USA    Manager of various investment entities, including Yorktown Avenue Capital, LLC

 

None of the entities or persons identified in this Item 2 has, during the past five years, been convicted of any criminal proceeding (excluding traffic violations or similar misdemeanors), nor been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

Item 3. Source and Amount of Funds or Other Consideration

 

The source of funds for the purchases of securities was the working capital of Yorktown Avenue Capital, LLC.

 

Item 4. Purpose of Transaction

 

The purpose of the acquisition of the Common Stock is for investment, and the acquisitions of the Common Stock were made in the ordinary course of business and were not made for the purpose of acquiring control of the Issuer.

 

Although no Reporting Person has any specific plan or proposal to acquire or dispose of the Common Stock, consistent with its investment

purpose, each Reporting Person at any time and from time to time may acquire additional Common Stock or dispose of any or all of its Common Stock depending upon an ongoing evaluation of the investment in the Common Stock, prevailing market conditions, other investment opportunities, liquidity requirements of the Reporting Persons, and/or other investment considerations.

 

Also, consistent with the investment purpose, the Reporting Persons may engage in communications with one or more shareholders of the Issuer, one or more officers of the Issuer and/or one or more members of the board of directors of the Issuer and/or one or more representatives of the Issuer regarding the Issuer, including but not limited to its operations. The Reporting Persons may discuss ideas that, if effected may result in any of the following: the acquisition by persons of additional Common Stock of the Issuer, an extraordinary corporate transaction involving the Issuer, and/or changes in the board of directors or management of the Issuer.

 

Except to the extent the foregoing may be deemed a plan or proposal, none of the Reporting Persons has any plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto.

 

Item 5. Interest in Securities of the Issuer

 

(a),(b) According to the Issuer’s 10-Q filed for the quarterly period ending September 30, 2004, there were 4,389,805 shares of Common Stock issued and outstanding as of November 8, 2004. Based on such information, after taking into account the transactions described in Item 5(c) below, the Reporting Persons report beneficial ownership of 219, 300 shares of Common Stock held by Yorktown Avenue Capital, LLC. Voting and investment power concerning the above shares are held solely by Yorktown Avenue Capital, LLC.

 

Although Charles M. Gillman is joining in this Schedule as Reporting Persons, the filing of this Schedule shall not be construed as an admission that any of them are, for any purpose, the beneficial owner of any of the securities that are beneficially owned by Yorktown Avenue Capital, L.L.C.

c) During the last 60 days, the Reporting Persons purchased the following shares of Common Stock in the open market:

 

Trade Date

    Quantity
   

Cost

Per Share

11/30/2004

    400    4.010000

12/1/2004

    6,900    4.087400

12/6/2004

    4,200    4.137100

12/14/2004

    1,000    4.040000

12/21/2004

    300    4.150000

12/23/2004

    3,500    4.180000

12/28/2004

    700    4.100000

12/29/2004

    1,800    4.097800

12/30/2004

    2,500    4.050000

 

(d) and (e) Not applicable.

 

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

 

None of the Reporting Persons is a party to any contract, arrangement, understanding or relationship with respect to any securities of the Issuer.

 

Item 7. Material to be Filed as Exhibits

 

Exhibit A Joint Filing Undertaking.

SIGNATURES

 

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

Dated: Jan. 24, 2005

YORKTOWN AVENUE CAPITAL, LLC

/s/ Charles M. Gillman

By: Charles M. Gillman, Manager

/s/ Charles M. Gillman

Charles M. Gillman

 

Exhibit A

 

JOINT FILING UNDERTAKING

 

The undersigned, being duly authorized thereunto, hereby execute this agreement as an exhibit to this Schedule 13D to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, to file this Schedule jointly on behalf of each such party.

 

Signature Block

YORKTOWN AVENUE CAPITAL, LLC

/s/ Charles M. Gillman

By: Charles M. Gillman, Manager

/s/ Charles M. Gillman

Charles M. Gillman