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As Of Filer Filing For·On·As Docs:Size Issuer Agent 7/10/13 Smith Wade SC 13G 1:70K Precision Aerospace Componen… Inc Vintage/FA |
Document/Exhibit Description Pages Size 1: SC 13G Statement of Beneficial Ownership HTML 36K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G*
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2
PRECISION AEROSPACE COMPONENTS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.001
(Title of Class of Securities)
(CUSIP Number)
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
¨ Rule 13d - 1(b)
ý Rule 13d - 1(c)
¨ Rule 13d - 1(d)
*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).
| 1 |
| CUSIP No. 74019B 20 8 | 13G | Page 2 of 6 Pages | ||
| 1 | NAMES OF REPORTING PERSONS | |||
| Wade A. Smith | ||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ¨ | ||
| (b) ¨ | ||||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | |||
| United States of America | ||||
| 5 | SOLE VOTING POWER | 287,000(1) | ||
| NUMBER OF | ||||
| SHARES | 6 | SHARED VOTING POWER | 40,000(2) | |
| BENEFICIALLY | ||||
| OWNED BY | 7 | SOLE DISPOSITIVE POWER | 287,000(1) | |
| EACH | ||||
| REPORTING | 8 | SHARED DISPOSITIVE POWER | 40,000(2) | |
| PERSON WITH | ||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |||
| 327,000(1)(2) | ||||
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ¨ | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | |||
| 8.2% | ||||
| 12 |
TYPE OF REPORTING PERSON
|
IN | ||
(1) The number of shares of Common Stock shown above includes 177,000 shares held by the Reporting Person and 110,000 shares held in the Reporting Person’s IRA.
(2) The number of shares of Common Stock shown above includes 40,000 shares held in the IRA of the Reporting Person’s sister, which is managed by the Reporting Person.
| 2 |
| CUSIP No. 74019B 20 8 | 13G | Page 3 of 6 Pages | ||
| Item 1(a). | Name of Issuer: Precision Aerospace Components, Inc. | ||
| Item 1(b). | Address of Issuer’s Principal Executive Offices: | ||
| 351 Camer Dr. | |||
| Bensalem, PA 22109 | |||
| Item 2(a). | Name of Person Filing: Wade A. Smith | ||
| Item 2(b). | Address of Principal Business Office or, if None, Residence: | ||
| 676 Shedborne Avenue | |||
| Dayton, OH 45403 | |||
| Item 2(c). | Citizenship: United States of America | ||
| Item 2(d). | Title of Class of Securities: Common Stock, par value $0.001 | ||
| Item 2(e). | CUSIP Number: 74019B 20 8 | ||
| Item 3. | If this statement is filed pursuant to Rule 13d-1(b) or Rule 13d-2(b) or (c), check whether the person filing is a: | ||
| (a) | ¨ | Broker or dealer registered under Section 15 of the Act; | |
| (b) | ¨ | Bank as defined in Section 3(a)(6) of the Act; | |
| (c) | ¨ | Insurance company as defined in Section 3(a)(19) of the Act; | |
| (d) | ¨ | Investment company registered under Section 8 of the Investment Company Act of 1940; | |
| (e) | ¨ | An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); | |
| (f) | ¨ | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); | |
| (g) | ¨ | A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); | |
| (h) | ¨ | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; | |
| (i) | ¨ | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; | |
| (j) | ¨ | A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); | |
| (k) | ¨ | Group, in accordance with Rule 13d-1(b)(1)(ii)(K). | |
| If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ________________________ | |||
| 3 |
| CUSIP No. 74019B 20 8 | 13G | Page 4 of 6 Pages | ||
| Item 4. | Ownership: | ||
| (a) | Amount beneficially owned: 327,000(1)(2) | ||
| (b) | Percent of class: 8.2% (calculated based upon 4,009,349 shares of Common Stock issued and outstanding as of April 25, 2013, as set forth in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 15, 2013) | ||
| (c) | Number of shares as to which such person has: | ||
| (i) | Sole power to vote or to direct the vote: 287,000(1) | ||
| (ii) | Shared power to vote or to direct the vote: 40,000(2) | ||
| (iii) | Sole power to dispose or to direct the disposition of: 287,000(1) | ||
| (iv) | Shared power to dispose or to direct the disposition of: 40,000(2) | ||
| ______________________ | |||
| (1) The number of shares of Common Stock shown above includes 177,000 shares held by the Reporting Person and 110,000 shares held in the Reporting Person’s IRA. | |||
| (2) The number of shares of Common Stock shown above includes 40,000 shares held in the IRA of the Reporting Person’s sister, which is managed by the Reporting Person. | |||
| Item 5. | Ownership of Five Percent or Less of a Class: Not Applicable. | ||
| 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 or Control Person: Not Applicable. | ||
| Item 8. | Identification and Classification of Members of the Group: Not Applicable. | ||
| Item 9. | Notice of Dissolution of Group: Not Applicable. | ||
| 4 |
| CUSIP No. 74019B 20 8 | 13G | Page 5 of 6 Pages | ||
| Item 10. | Certifications: |
| By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. | |
| 5 |
| CUSIP No. 74019B 20 8 | 13G | Page 6 of 6 Pages | ||
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, 2013 | ||
| Date | ||
| /s/ Wade A. Smith | ||
| Signature | ||
| /s/ Wade A. Smith | ||
Name and Title | ||
| 6 |
| This ‘SC 13G’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 7/10/13 | |||
| 5/15/13 | 10-Q | |||
| 4/25/13 | ||||
| 3/27/13 | ||||
| List all Filings | ||||