Glenwood Capital Partners I, LP, et al. – ‘SC 13D/A’ on 9/1/06 re: Bactolac Pharmaceutical, Inc.

On:  Friday, 9/1/06, at 9:14am ET   ·   Accession #:  1005477-6-4414   ·   File #:  5-50859

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Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment Number 1 to Schedule 13D                     6     37K 

Document Table of Contents

SC 13D/A
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
Rule 13d-101

Under the Securities Exchange Act of 1934 
(Amendment No. 1)*

Advanced Nutraceuticals Inc/TX
--------------------------------------------------------------------------------
(Name of Issuer)

Common Stock, par value $0.01 
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(Title of Class of Securities)

000760Q201
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(CUSIP Number)

Adam Agron  
Brownstein Hyatt & Farber, P.C. 
410 17th Street 
22nd Floor  
Denver, Colorado 80202  
(303) 223-1100
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)

08/16/2006
--------------------------------------------------------------------------------
(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 ss. 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 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).                                                                     

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CUSIP No. 000760Q201                                                            
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(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.   

Glenwood Capital Partners I, LP                                         
43-1948109                                                              
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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).                                                           
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(6) Citizenship or place of organization.                                       

Delaware                                                                
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Number of shares beneficially owned by each reporting person with:              

(7) Sole voting power:                                                  
0                                                               

(8) Shared voting power:                                                
277,523                                                         

(9) Sole dispositive power:                                             
0                                                               

(10) Shared dispositive power:                                          
277,523                                                       

--------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.              

277,523                                                               
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(12) Check if the aggregate amount in Row (11) excludes certain shares       |_|
(see instructions).                                                   
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(13) Percent of class represented by amount in Row (11).                        

5.86%                                                                 
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(14) Type of reporting person (see instructions).                               

PN                                                                    
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CUSIP No. 000760Q201                                                            
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(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.   

Randall D. Humphreys                                                    
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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).                                                           
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(6) Citizenship or place of organization.                                       

United States                                                           
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Number of shares beneficially owned by each reporting person with:              

(7) Sole voting power:                                                  
47,500                                                          

(8) Shared voting power:                                                
369,210 (1)                                                     

(9) Sole dispositive power:                                             
47,500                                                          

(10) Shared dispositive power:                                          
369,210 (1)                                                   

--------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.              

416,710 (1)                                                           
--------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares       |_|
(see instructions).                                                   
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(13) Percent of class represented by amount in Row (11).                        

8.80%                                                                 
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(14) Type of reporting person (see instructions).                               

IN                                                                    
--------------------------------------------------------------------------------

----------                                                                      
(1)     Includes (a) 277,523 shares owned by Glenwood Capital Partners I, LP and
(b) 91,687 shares owned by KP Investment Group, LLC. Randall D. 
       Humphreys is the General Partner of Glenwood Capital Partners I, LP and
  the Manager of Glenwood Capital, LLC. Glenwood Capital, LLC is the
Manager of KP Investment Group, LLC.                            

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CUSIP No. 000760Q201                                                            
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(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.   

KP Investment Group, LLC                                                
20-2972825                                                              
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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).                                                           
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(6) Citizenship or place of organization.                                       

Kansas                                                                  
--------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:              

(7) Sole voting power:                                                  
0                                                               

(8) Shared voting power:                                                
91,687                                                          

(9) Sole dispositive power:                                             
0                                                               

(10) Shared dispositive power:                                          
91,687                                                        

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(11) Aggregate amount beneficially owned by each reporting person.              

91,687                                                                
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(12) Check if the aggregate amount in Row (11) excludes certain shares       |_|
(see instructions).                                                   
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(13) Percent of class represented by amount in Row (11).                        

1.94%                                                                 
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(14) Type of reporting person (see instructions).                               

OO                                                                    
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Item 1. Security and Issuer.                                                    

       Title and class of securities:  Common Stock, par value $0.01 per
share                                                     

Issuer:  Advanced Nutraceuticals, Inc.                    

       Name and address of the principal executive office of the Issuer:
  106 South University Boulevard, #104, Denver, Colorado 80209

Item 2. Identity and Background.                                                

(a) Name of Reporting Person:  Randall D. Humphreys         
      Name of Reporting Person:  Glenwood Capital Partners I, LP
Name of Reporting Person:  KP Investment Group, LLC 

  (b) Address of each Reporting Person:  7101 College Blvd., Ste
710, Overland Park, Kansas 66210                    

     (c) Randall D. Humphreys is (a) a Director of the Issuer, (b) the
          General Partner of Glenwood Capital Partners I, LP and (c) the
          Manager of Glenwood Capital, LLC. Glenwood Capital, LLC is the
        Manager of KP Investment Group, LLC. The address for each of
         Glenwood Capital Partners I, LP, Glenwood Capital, LLC and KP
           Investment Group, LLC is: 7101 College Blvd., Ste 710, Overland
      Park, Kansas 66210. The address of the Issuer is 106 South
  University Boulevard, Unit 14, Denver, Colorado 80209.

      (d) None of Randall D. Humphreys, Glenwood Capital Partners I, LP,
           or KP Investment Group, LLC has during the last five years been
            convicted in a criminal proceeding (excluding traffic violations
or similar midemeanors).                            

      (e) None of Randall D. Humphreys, Glenwood Capital Partners I, LP,
             or KP Investment Group, LLC has during the last five years been a
            party to a civil proceeding of a judicial or administrative body
              of competent jurisdiction and is not 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) Randall D. Humphreys is a citizen of the United States of
America.                                            

Item 3. Source and Amount of Funds or Other Consideration.                      

     KP Investment Group, LLC used personal funds to purchase 91,687
       shares of the Issuer's common stock between June 13, 2006 and the
      date of this Schedule 13D/A. The aggregate purchase price of the
91,687 shares was $302,220.15.                            

Item 4. Purpose of Transaction.                                                 

    The purpose of the acquisition of the Issuer's common stock is
         investment. None of Randall D. Humphreys, Glenwood Capital Partners
         I, LP, or KP Investment Group, LLC currently has a plan or proposal
which relates 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 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.                                   

   (a) Amount beneficially owned by Randall D. Humphreys:  416,710
      shares of the Issuer's common stock (8.80% of the Issuer's
          outstanding common stock), including (a) 277,523 shares of the
              Issuer's common stock owned by Glenwood Capital Partners I, LP and
      (b) 91,687 shares of the Issuer's common stock owned by KP
              Investment Group, LLC. Randall D. Humphreys is the General Partner
          of Glenwood Capital Partners I, LP and the Manager of Glenwood
    Capital, LLC. Glenwood Capital, LLC is the Manager of KP
Investment Group, LLC.                              

         Amount beneficially owned by Glenwood Capital Partners I, LP:
              277,523 shares of the Issuer's common stock (5.86% of the Issuer's
outstanding common stock).                          

          Amount beneficially owned by KP Investment Group, LLC:  91,687
      shares of the Issuer's common stock (1.94% of the Issuer's
outstanding common stock).                          

     (b) Randall D. Humphreys has the sole power to vote or direct the
          vote and sole power to dispose or to direct the disposition of
            47,500 shares of the Issuer's common stock. Randall D. Humphreys
            has the shared power to vote or direct the vote, or shared power
             to dispose or direct the disposition of (a) 277,523 shares of the
              Issuer's common stock owned by Glenwood Capital Partners I, LP and
      (b) 91,687 shares of the Issuer's common stock owned by KP
              Investment Group, LLC. Randall D. Humphreys is the General Partner
          of Glenwood Capital Partners I, LP and the Manager of Glenwood
    Capital, LLC. Glenwood Capital, LLC is the Manager of KP
Investment Group, LLC.                              

           Glenwood Capital Parnters I, LP does not have the sole power to
             vote or direct the vote or the sole power to dispose or to direct
       the disposition of any shares of the Issuer's common stock.
           Glenwood Capital Partners I, LP has the shared power to vote or
     direct the vote, or shared power to dispose or direct the
       disposition of 277,523 shares of the Issuer's common stock.

     (c) Since the date of the most recent Schedule 13D, KP Investment
Group, LLC completed the following transactions:    

              (i) purchase of 10,000 shares of the Issuer's common stock on June
13, 2006 at $3.00 per share;                        

        (ii) purchase of 1,000 shares and 200 shares of the Issuer's
           common stock on June 14, 2006 at $2.96 and $2.95, respectively,
per share;                                          

            (iii) purchase of 1,500 shares and 10,000 shares of the Issuer's
           common stock on July 18, 2006 at $2.92 and $2.96, respectively,
per share;                                          

              (iv) purchase of 4,500 shares of the Issuer's common stock on July
21, 2006 at $2.98 per share;                        

         (v) purchase of 15,000 shares of the Issuer's common stock on
August 4, 2006 at $3.43 per share;                  

         (vi) purchase of 8,000 shares of the Issuer's common stock on
August 10, 2006 at $3.43 per share;                 

            (vii) purchase of 7,000 shares and 10,000 shares of the Issuer's
             common stock on August 11, 2006 at $3.43 and $3.42, respectively,
per share;                                          

           (viii) purchase of 2,985 shares of the Issuer's common stock on
August 16, 2006 at $3.45 per share; and             

            (ix) purchase of 11,502 shares and 10,000 shares of the Issuer's
             common stock on August 22, 2006 at $3.45 and $3.42, respectively,
per share.                                          

(d) Not applicable.                                         

(e) Not applicable.                                         

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

None.                                                     

Item 7. Material to be Filed as Exhibits.                                       

None.                                                     

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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. 

                           Glenwood Capital Partners I, LP

Date: 08/29/2006                      /s/ Randall D. Humphreys                  
                       Name:  Randall D. Humphreys
                  Title: General Parnter

Date: 08/29/2006                      /s/ Randall D. Humphreys                  
                       Name:  Randall D. Humphreys

                    KP Investment Group, LLC

Date: 08/29/2006                      /s/ Randall D. Humphreys                  
                       Name:  Randall D. Humphreys
                               Title: Manager of Glenwood Capital,
                                           LLC, the Manager of KP Investment
                    Group, LLC

The original statement shall be signed by each person on whose behalf the       
statement is filed or his authorized representative. If the statement is signed 
on behalf of a person by his authorized representative (other than an executive 
officer or general partner of the filing person), evidence of the               
representative's authority to sign on behalf of such person shall be filed with 
the statement: Provided, however, That a power of attorney for this purpose     
which is already on file with the Commission may be incorporated by reference.  
The name and any title of each person who signs the statement shall be typed or 
printed beneath his signature.                                                  

ATTENTION--Intentional misstatements or omissions of fact constitute Federal    
criminal violations (See 18 U.S.C. 1001). (Secs. 13(d), 13(g), 14(d), 23, 48    
Stat. 894, 895, 901; sec. 8, 49 Stat. 1379; sec. 203(a), 49 Stat. 704; sec. 10, 
78 Stat. 88a; Secs. 2, 3, 82 Stat. 454, 455; secs. 1, 2, 3-5, 84 Stat. 1497;    
sec. 18, 89 Stat. 155; secs. 202, 203, 91 Stat. 1494, 1498, 1499; 15 U.S.C.     
78m(d), 78m(g), 78n(d), 78w) [44 FR 2145, Jan. 9, 1979; 44 FR 11751, Mar. 2,    
1979; 44 FR 70340, Dec. 6, 1979; 47 FR 11466, Mar. 16, 1982; 61 FR 49959, Sept. 
24, 1996; 62 FR 35340, July 1, 1997; 63 FR 2867, Jan. 16, 1998; 63 FR 15287,    
Mar. 31, 1998]                                                                  

Page 6 of 6 Pages                                                               

Dates Referenced Herein   and   Documents Incorporated by Reference

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This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
Filed on:		9/1/06
		8/22/06		5					4
		8/16/06		5					4
		8/11/06		5
		8/10/06		5					4
		8/4/06		5					4
		7/21/06		5					4
		7/18/06		5					4
		6/14/06		5
		6/13/06		5					4,  4/A
		3/31/98		6					10-Q
		1/16/98		6
		7/1/97		6
		9/24/96		6
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