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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Advanced Polymer Systems Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
00754G-10-2
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*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).
(Continued on following pages(s))
SCHEDULE 13G
CUSIP NO. 00754G-10-2
- --------------------------------------------------------------------------------
1) Name of Reporting Person Smith Barney Shearson Inc.
S.S. or I.R.S Identification 13-1912900
No. of Above Person
- --------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ----------------------------
(See Instructions) (b)
----------------------------
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 263,500
Beneficially Owned (6) Shared Voting Power 436,000
by Each Reporting (7) Sole Dispositive Power 1,416,241
Person with (8) Shared Dispositive Power 66,225
- --------------------------------------------------------------------------------
9) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,547,866
- --------------------------------------------------------------------------------
10) Check if the Aggregate Amount
in Row 9 Excludes Certain
Shares (See Instructions)
- --------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 11.3%
- --------------------------------------------------------------------------------
12) Type of Reporting Person BD
(See Instructions)
- --------------------------------------------------------------------------------
SCHEDULE 13G
CUSIP NO. 00754G-10-2
- --------------------------------------------------------------------------------
1) Name of Reporting Person Smith Barney Shearson Holdings Inc.
S.S. or I.R.S Identification 06-1274088
No. of Above Person
- --------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ----------------------------
(See Instructions) (b)
----------------------------
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 263,500
Beneficially Owned (6) Shared Voting Power 436,000
by Each Reporting (7) Sole Dispositive Power 1,416,241
Person with (8) Shared Dispositive Power 66,225
- --------------------------------------------------------------------------------
9) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,547,866
- --------------------------------------------------------------------------------
10) Check if the Aggregate Amount
in Row 9 Excludes Certain
Shares (See Instructions)
- --------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 11.3%
- --------------------------------------------------------------------------------
12) Type of Reporting Person CO
(See Instructions)
- --------------------------------------------------------------------------------
SCHEDULE 13G
CUSIP NO. 00754G-10-2
- --------------------------------------------------------------------------------
1) Name of Reporting Person The Travelers Inc. (formerly Primerica
S.S or I.R.S Identification Corporation)
No. of Above Person 52-1568099
- --------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ----------------------------
(See Instructions) (b)
----------------------------
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 263,500
Beneficially Owned (6) Shared Voting Power 436,000
by Each Reporting (7) Sole Dispositive Power 1,416,241
Person with (8) Shared Dispositive Power 66,225
- --------------------------------------------------------------------------------
9) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,547,866
- --------------------------------------------------------------------------------
10) Check if the Aggregate Amount
in Row 9 Excludes Certain
Shares (See Instructions)
- --------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 11.3%
- --------------------------------------------------------------------------------
12) Type of Reporting Person HC
(See Instructions)
- --------------------------------------------------------------------------------
Item 1(a) Name of Issuer:
Advanced Polymer Systems Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
3696 Haven Avenue
Redwood City, California 94063-4604
Item 2(a) Names of Persons Filing:
Smith Barney Shearson Inc. ("SBS")
Smith Barney Shearson Holdings Inc. ("SBS Holdings")
The Travelers Inc. (formerly Primerica Corporation) ("TRV")
Item 2(b) Address of Principal Business Office or, if none, Residence:
The address of the principal business office of each of SBS and SBS
Holdings is:
1345 Avenue of the Americas
New York, NY 10105
The address of the principal business office of TRV is:
65 East 55th Street
New York, NY 10022
Item 2(c) Citizenship:
SBS, SBS Holdings and TRV are Delaware corporations.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
00754G-10-2
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ X ] Broker or Dealer registered under Sec. 15 of the Act
(b) [ ] Bank as defined in Sec. 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in Sec. 3(a)(19) of the Act
(d) [ ] Investment Company registered under Sec. 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under Sec. 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see
Sec. 240.13d-1(b)(1)(ii)(F)
(g) [ X ] Parent Holding Company, in accordance with Sec. 240.13d-
1(b)(ii)(G) (Note: See Item 7)
(h) [ ] Group, in accordance with Sec. 240.13d-1(b)(1)(ii)(H)
Item 4. Ownership (as of December 31, 1993)
(a) Amount Beneficially Owned: See Item 9 of cover pages
(b) Percent of Class: See Item 11 of cover pages
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
(ii) shared power to vote or to direct the vote
(iii) sole power to dispose or to direct the disposition of
(iv) shared power to dispose or to direct the disposition of
See Items 5-8 of cover pages
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
SBS Holdings is the sole common stockholder of SBS, and TRV is the sole
stockholder of SBS Holdings.
Item 8. Identification and Classification of Members of the Group
Not Applicable.
Item 9. Notice of Dissolution of Group
Not Applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge, the
securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in
any transaction having such purposes or effect.
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: February 1, 1994
SMITH BARNEY SHEARSON INC.
By: /s/ Howard M. Darmstadter
---------------------------
Name: Howard M. Darmstadter
Title: Assistant Secretary
SMITH BARNEY SHEARSON HOLDINGS INC.
By: /s/ Mary Barnes Jenkins
---------------------------
Name: Mary Barnes Jenkins
Title: Assistant Secretary
THE TRAVELERS INC.
By: /s/ Mary Barnes Jenkins
---------------------------
Name: Mary Barnes Jenkins
Title: Assistant Secretary
EXHIBIT INDEX TO SCHEDULE 13G
-----------------------------
EXHIBIT 1
- ---------
Agreement among SBS, SBS Holdings
and TRV as to joint filing of
Schedule 13G
EXHIBIT 2
- ---------
Disclaimer of beneficial ownership by
SBS Holdings and TRV
EXHIBIT 1
---------
AGREEMENT AS TO JOINT FILING OF SCHEDULE 13G
--------------------------------------------
Each of the undersigned hereby affirms that it is individually eligible to use
Schedule 13G, and agrees that this Schedule 13G is filed on its behalf.
Date: February 1, 1994
SMITH BARNEY SHEARSON INC.
By: /s/ Howard M. Darmstadter
---------------------------
Name: Howard M. Darmstadter
Title: Assistant Secretary
SMITH BARNEY SHEARSON HOLDINGS INC.
By: /s/ Mary Barnes Jenkins
---------------------------
Name: Mary Barnes Jenkins
Title: Assistant Secretary
THE TRAVELERS INC.
By: /s/ Mary Barnes Jenkins
---------------------------
Name: Mary Barnes Jenkins
Title: Assistant Secretary
EXHIBIT 2
---------
DISCLAIMER OF BENEFICIAL OWNERSHIP
----------------------------------
Each of the undersigned disclaims beneficial ownership of the securities
referred to in the Schedule 13G to which this exhibit is attached, and the
filing of this Schedule 13G shall not be construed as an admission that any of
the undersigned is, for the purpose of Section 13(d) or 13(g) of the Securities
Exchange Act of 1934, as amended, the beneficial owner of any securities
covered by this Schedule 13G.
Date: February 1, 1994
SMITH BARNEY SHEARSON HOLDINGS INC.
By: /s/ Mary Barnes Jenkins
---------------------------
Name: Mary Barnes Jenkins
Title: Assistant Secretary
THE TRAVELERS INC.
By: /s/ Mary Barnes Jenkins
---------------------------
Name: Mary Barnes Jenkins
Title: Assistant Secretary