PALTQ (.06) What happens when a Beverly Hill Brokerage owned by one of the Nations largest life insurance companies teams up with a High Profile reverse merger specialist?
Imagine if the shell they used for the reverse merger only had 4 million shares outstanding. That's exactly what's happening with PALTQ. Senior VP for ML Stern & Co. buys $50,000 worth of PALTQ on the open market during the summer. Then magically Michael Anthony reinstates the shell a few weeks ago. Something big is up here. They paid almost .20 per share to buy 6.25% of PALTQ. Did PALTQ just exit bankruptcy and now ML Stern & Co. and Michael Anthony have big plans?
SCHEDULE 13D Pallet Management Systems Inc.(PALTQ)
Filed July 10, 2007. (4,000,000 total shares OS)
NAME OF REPORTING PERSONS Michael Karp.
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 250,000
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 6.25%
Mr. Karp is a Senior Vice President at M.L. Stern & Co., LLC,
8350 Wilshire Blvd.,Beverly Hills, CA 90211, United States of America. Beverly Hills Stock Broker ML Stern & Co, owned by one of the ten largest life insurance companies in the nation.
A subsidiary of Pacific Life Insurance Company,
http://www.mlstern.com/
Transactions effected during the past sixty days: Mr. Karp acquired following shares of PALTQ.
60,000 shares on June 15, 2007 at $0.105 per share,$6300
7,300 shares on June 15, 2007 at $0.11 per share,$803
5,000 shares on June 18,2007 at $0.15 per share,$750
20,266 shares on June 18, 2007 at $0.17 per share,$3455
5,000 shares on June 18, 2007 at $0.18 per share,$900
5,000 shares on June 18, 2007 at $0.19 per share,$950
30,000 shares on June 18, 2007 at $0.20 per share,$6000
35,000 shares on June 19, 2007 at $0.25 per share,$8750
2,434 shares on June 19, 2007 at $0.26 per share,$633
5,000 shares on June 20, 2007 at $0.22 per share,$1100
46,150 shares on June 20, 2007 at $0.25 per share,$11,537
28,850 shares on June 21, 2007 at $0.26 per share.$7501
Detail by Entity Name
Florida Profit Corporation PALLET MANAGEMENT SYSTEMS
Last Event REINSTATEMENT Event Date Filed
10/25/2007
Name & Address
Title PVD
ANTHONY, MICHAEL
330 CLEMATIS STREET, STE 217
WEST PALM BEACH FL 33401 US
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
----------------
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1) (1)
Pallet Management Systems
Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.001
per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
696435304
--------------------------------------------------------------------------------
(CUSIP Number)
Michael Karp
c/o M.L. Stern & Co.,
LLC
8350 Wilshire Blvd.
Beverly Hills, CA 90211
(858)
259-3400
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 25,
2007
--------------------------------------------------------------------------------
(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 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 for other parties
to whom copies are to be sent.
----------
(1) 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 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).
<PAGE>
CUSIP No. 696435304
---------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
Michael Karp
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [
]
(b) [X]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
PF
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
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
7. SOLE VOTING POWER
250,000
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
250,000
10. SHARED DISPOSITIVE POWER
0
11.
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
250,000
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN
SHARES*
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.25%
14. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 696435304
---------------------
Item 1. Security and Issuer.
The name of the issuer is Pallet Management Systems Inc, a
Florida corporation (the "Issuer"). The
address of the Issuer's offices is 2855
University Drive, Suite 510, Coral Springs, Florida 33065,
United States of
America. This Amendment No. 1 to Schedule 13D
(the "Amendment") relates to the Issuer's Common Stock,
par value $0.001 per
share (the
"Shares").
--------------------------------------------------------------------------------
Item 2.
Identity
and
Background.
(a) Michael Karp
(b) The principal business address for Michael Karp is c/o M.L. Stern
& Co., LLC, 8350 Wilshire Blvd., Beverly Hills, CA 90211, United
States of America.
(c) Mr. Karp is a Senior Vice President at M.L. Stern & Co., LLC,
8350 Wilshire Blvd., Beverly Hills, CA 90211, United States of America.
(d) Michael Karp has not, during the last five years, been
convicted
in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) Michael Karp has not, during the
last
five years, 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.
(f) Michael Karp is a citizen of the United States of
America.
--------------------------------------------------------------------------------
Item 3. Source and Amount of Funds or Other Consideration.
As of the date hereof, Mr. Karp used personal funds to purchase the
shares.
--------------------------------------------------------------------------------
Item 4.
Purpose of Transaction.
The shares were accumulated using personal funds over a period of one week
solely for purposes of investment by the Reporting
Person.
THE REPORTING PERSON HAS NO PLANS OR PROPOSALS THAT RELATE TO OR WOULD RESULT
IN:
(a) The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any
of
its subsidiaries;
(c) A sale or transfer of a material amount of assets of the
issuer or any of its subsidiaries;
(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;
(e) Any material change in the present
capitalization or dividend
policy of the issuer;
(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;
(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;
(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;
(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
(j) Any action
similar to any of those enumerated
above.
--------------------------------------------------------------------------------
Item 5. Interest in Securities of the Issuer.
Provide the following information regarding the aggregate number
and percentage of the class of securities of
the issuer identified
in Item 1.
(a) Amount beneficially
owned by Michael Karp: 250,000 shares.
(b)
Number of shares as to which Michael Karp has:
(i) Sole power to vote or to direct the vote 250,000
(ii) Shared
power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the
disposition of 250,000
(iv) Shared power to dispose or to direct the
disposition of 0
(c)
Transactions effected
during the past sixty days: Mr. Karp
acquired 60,000 shares on June 15, 2007 at $0.105 per share, 7,300
shares on June 15, 2007 at $0.11 per share, 5,000 shares on June 18,
2007 at $0.15 per share, 20,266 shares on June 18, 2007 at $0.17 per
share, 5,000 shares on
June 18, 2007 at $0.18 per share, 5,000 shares
on June 18,
2007 at $0.19 per share, 30,000 shares on June 18, 2007
at $0.20 per share, 35,000 shares on June 19, 2007 at $0.25 per share,
2,434 shares on June 19, 2007 at $0.26 per share, 5,000 shares
on June 20, 2007 at $0.22 per share,
46,150 shares on June 20, 2007
at $0.25 per share, 28,850 shares on June 21, 2007 at $0.26 per share.
--------------------------------------------------------------------------------
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect
to Securities of the Issuer.
There are no contracts,
arrangements,understandings or relationships (legal
or otherwise) between the Reporting Person and any person with respect to any
securities of the issuer, including but not limited to transfer or voting
of any of the securities, finder's fees, joint ventures, loan or
option
arrangements, puts or calls, guarantees of profits, division
of profits
or loss, or the giving or withholding of proxies, naming
the persons with
whom such contracts, arrangements, understandings or relationships have
been entered
into.
--------------------------------------------------------------------------------
Item 7. Material to be Filed as Exhibits.
None.
--------------------------------------------------------------------------------
<PAGE>
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.
July 10, 2007
-----------------------
(Date)
/s/ Michael Karp
-----------------------
Michael Karp
* The
Reporting Persons disclaim beneficial ownership of the securities
re
http://www.sunbiz.org/COR/2007/1114/18140234.tif
Detail by Entity Name
Florida Profit Corporation
PALLET MANAGEMENT SYSTEMS, INC.
Filing Information
Document Number F87511
FEI Number 592197020
Date Filed 06/10/1982
State FL
Status ACTIVE
Last Event REINSTATEMENT
Event Date Filed 10/25/2007
Event Effective Date NONE
Principal Address
330 CLEMATIS STREET, STE 217
WEST PALM BEACH FL 33401 US
Changed 10/25/2007
Mailing Address
330 CLEMATIS STREET, STE 217
WEST PALM BEACH FL 33401 US
Changed 10/25/2007
Registered Agent Name & Address
INCORP SERVICES, INC.
17888 67TH COURT NORTH
LOXAHATCHEE FL 33470 US
Name Changed: 10/25/2007
Address Changed: 10/25/2007
Officer/Director Detail
Name & Address
Title PVD
ANTHONY, MICHAEL
330 CLEMATIS STREET, STE 217
WEST PALM BEACH FL 33401 US
Annual Reports
Report Year Filed Date
2005 10/25/2007
2006 10/25/2007
2007 10/25/2007
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