Jayhead Investments Ltd, et al. – ‘SC 13D’ on 4/16/97 re: NGAS Resources Inc

As of:  Wednesday, 4/16/97   ·   Accession #:  950116-97-739   ·   File #:  5-50813

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

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D      General Statement of Beneficial Ownership              8     22K 

Document Table of Contents

SC 13D
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON. DC 20549
----------

SCHEDULE 13D

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

Alaska Apollo Resources Inc.
------------------------------------------------------------------
(Name of Issuer)

 Common Shares, no par value
------------------------------------------------------------------
(Title of class of securities)

 011 900 602
------------------------------------------------------------------
(CUSIP number)

 Jayhead Investments Limited, 18 York Valley
Crescent, Willowdale, Ontario, Canada M2P lA7 
 416- 486-8150
------------------------------------------------------------------
( Name, address and telephone number of person
 authorised to receive notices and communications)

 March 7, 1997
--------------------------------------------------------- 
 (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-l (b) (3) or (4)) check the following box ___     

(Continued on following pages)

 (Page 1 of 8 Pages)

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CUSIP NO. 011 900 602                 13D              Page 2 of 8 Pages        
-----------                                       ------    
NAME OF REPORTING PERSONS                                           
1    S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS                      
Jayhead Investments Limited.

2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a)                
                                           (b)

3    SEC USE ONLY                                                             

4    SOURCE OF FUNDS*                WC                                       

5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT        
TO ITEM 2(d) or 2(c)                                                

6    CITIZENSHIP OR PLACE OF ORGANIZATION   Canadian                          

         SOLE VOTING POWER
NUMBER OF                                                           
7        500,000          
SHARES                                                            

BENEFICIALLY                                                            
   8        SHARED  VOTING POWER
 1,013,000
OWNED BY                                                            

EACH               9        SOLE DISPOSITIVE POWER              
500,000 
REPORTING                                                           

PERSON WITH          10        SHARED  DISPOSITIVE POWER              
 1,013,000

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               
1,513,000                       

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

13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (ll)                         
14.3%                         

14   TYPE OF REPORTING PERSON           CO.                                     

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CUSIP NO. 011 900 602                 13D              Page 3 of 8 Pages        
-----------                                       ------    
NAME OF REPORTING PERSONS                                           
1    S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS                      
 Morton J Glickman

2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a)                
                                           (b)

3    SEC USE ONLY                                                             

4    SOURCE OF FUNDS*                WC                                       

5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT        
TO ITEM 2(d) or 2(c)                                                

6    CITIZENSHIP OR PLACE OF ORGANIZATION   Canadian                          

         SOLE VOTING POWER
NUMBER OF                                                           
7        500,000          
SHARES                                                            

BENEFICIALLY                                                            
   8        SHARED  VOTING POWER
 1,013,000
OWNED BY                                                            

EACH               9        SOLE DISPOSITIVE POWER              
500,000 
REPORTING                                                           

PERSON WITH          10        SHARED  DISPOSITIVE POWER              
 1,013,000

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               
1,513,000                       

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

13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (ll)                         
14.3%                         

14   TYPE OF REPORTING PERSON           IN                                      

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PAGE 4 OF 8                                                                     

CUSIP  NO         011 900 602                                                   

ITEM 1.      SECURITY AND ISSUER                                                

Common Stock, no par value.                                                     

Alaska Apollo Resources, Inc ( Alaska Apollo )                                  
131 Prosperous Place - Suite 17A                                                
Lexington, KY  40509-1800                                                       

Item 2.      Identity and Background                                            

(a)               Name :       Jayhead Investments Limited.                     

(b)               Business :   18 York Valley Crescent                          
 Willowdale, Ontario
Canada M2P lA7    

(c)               The principal business of Jayhead is investing in and holding 
         securities and real estate properties. The address of
                 Jayhead's principal business is the address given in Item (2)
above.                                      

(d)               During the past five years Jayhead has not been convicted in  
          a criminal proceeding excluding traffic violations and
similar misdemeanours.                      

(e)               During the past five years Jayhead has not been a party top a 
            civil proceeding of a judicial or administrative body of
                  competent jurisdiction (i) as a result of which 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 security laws, or (ii) finding any
violations with respect to such laws.       

(f)               Jayhead is a Ontario Corporation.                             

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PAGE 5 OF 8                                                                     

ITEM 3.       Source and Amount of Funds or Other Considerations.               

         Jayhead's holdings in Alaska Apollo were purchased by
                conversion of a loan in the amount of $75,000 into a warrant
     for 500,000 shares of Alaska Apollo common stock.

Item 4.       Purpose of Transaction.                                           

           Jayhead acquired the securities as an investment in the
ordinary course of its business.            

Item 5.       Interest in the security of the Issuer.                           

(a)               Jayhead owns 500,000 warrants to acquire 500,000 shares of    
               common stock of the Issuer named in Item (1) above. Jayhead
               has an interest in 1,013,000 shares of Alaska Apollo common
             stock owned by Alaska Investments in which Jayhead has an
interest of 34% percent.                    

(d)               Morton Glickman is the president and sole officer of Jayhead. 

(e)               not applicable.                                               

Item 6.       Contracts, Arrangement, Undertakings, or Relationships with       
respect to securities of the Issuer.                

          Jayhead is not a party to any contracts, arrangements,
        understandings, or relationships with respect to the
                  securities of Alaska Apollo. Jayhead is an affiliate of Alaska
Investments Limited in which it owns a 34%  

Item 7.       Material to be filed as Exhibits.                                 

                A joint filing statement is being filed as an exhibit to the
Schedule 13D.                               

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PAGE 6 OF 8                                                                     

Item 2-6 inclusive for Morton Glickman.                                         

Item 2.      Identity and Background.                                           

(a)          Name :                Morton Glickman                              

(b)          Business Address :    18 York Valley Crescent                      
         Willowdale, Ontario
    Canada M2P lA7

(c)               Morton Glickman, an investor in real estate and securities. He
                 is the sole shareholder, sole director, president, treasurer,
and secretary of Jayhead.                   

(d)               During the past five years Morton Glickman has not been       
         convicted in a criminal proceeding (excluding traffic
violations and similar misdemeanours.)      

(e)               During the past five years Morton Glickman has not been a     
                party top a civil proceeding of a judicial or administrative
           body of competent jurisdiction (i) as a result of which
                  proceeding was or is a subject of a judgment, decree, or final
               order enjoining any future violations of, or prohibiting or
                 mandating activities subject to federal or any violation with
respect to such laws.                       

(f)               Canadian citizen.                                             

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

               Jayhead used working capital as the source of funds for its
investment in Alaska Apollo.                

Item 4.      Purpose of Transaction.                                            

           Jayhead acquired the securities as an investment in the
ordinary course of its business.            

Item 5.      Interest in the Securities of the Issuer.                          

(a)               Jayhead owns 500,000 warrants to acquire 500,000 additional   
                  shares of stock of the issuer at a price of $ 0.125 per share.
               Jayhead owns 34% of Alaska Investments which owns 1,013,000
shares of Alaska Apollo                     

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PAGE 7 OF 8                                                                     

(b)               Jayhead has sole voting power and sole dispositive power with 
              respect to such holdings of the 500,000 warrants to buy an
             additional 500,000 shares of Alaska Apollo. Jayhead has a
           shared voting power and shared dispositive power for an
                  additional 1,013,000 shares of Alaska Apollo by its holding of
           a 34% interest in Alaska Investments Limited which owns
1,013,000 shares of Alaska Apollo.          

(c)               n/a                                                           

(d)               Jayhead is controlled by Morton Glickman, its sole director,  
president, treasurer, and secretary.        

(e)               not applicable.                                               

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

                  Morton Glickman is not a party to any contracts, arrangements,
                  understandings, or relationships with respect to securities of
Alaska Apollo.                              

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Signature.                                                                      

After reasonable inquiry and to the best of my knowledge and belief, I certify  
that the information set forth on this statement is true, complete, and correct.

Date:   April 7, 1997.                                                          

Jayhead Investments Limited                                                     

/s/ Morton J. Glickman                                                          
-----------------------------                                                   
By  Morton J Glickman                                                           
President                                                                       

Morton J Glickman.                                                              

/s/  Morton J. Glickman                                                         
-----------------------------                                                   
By:  Morton J Glickman                                                          

Dates Referenced Herein   and   Documents Incorporated by Reference

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Filed on:		4/16/97							SC 13D/A
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		3/7/97		1
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