Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
Under
the Securities Exchange Act of 1934
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DOCUMENT
CAPTURE TECHNOLOGIES, INC.
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(Name
of Issuer)
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Common
Stock, $0.001 par value
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(Title
of Class of Securities)
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Richard
Dietl
One
Penn Plaza, 50th
Floor
New
York, NY 10119
(212)
557-3334
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(Name,
Address and Telephone Number of Person Authorized
to
Receive Notices and Communications)
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July
14, 2008
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(Date
of Event Which Requires Filing of This Statement)
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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 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box. o.
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NAMES OF REPORTING PERSONS:
Richard
Dietl |
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I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS
(ENTITIES ONLY):
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CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP
(SEE INSTRUCTIONS):
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(a) o |
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(b) o |
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SEC USE ONLY: |
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SOURCE OF FUNDS (SEE INSTRUCTIONS): |
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PF |
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS
IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): |
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o |
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CITIZENSHIP OR PLACE OF ORGANIZATION: |
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United States |
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7 |
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SOLE VOTING POWER: |
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| NUMBER OF |
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8,173,514 |
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| SHARES |
8 |
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SHARED VOTING POWER: |
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| OWNED BY |
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0 |
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| EACH |
9 |
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SOLE DISPOSITIVE POWER: |
| REPORTING |
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| PERSON |
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8,173,514 |
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| WITH |
10 |
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SHARED DISPOSITIVE POWER: |
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0 |
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AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH
REPORTING PERSON: |
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8,173,514 |
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CHECK IF THE AGGREGATE AMOUNT IN
ROW
(11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): |
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o |
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PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW
(11): |
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44.3% |
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TYPE OF REPORTING PERSON (SEE
INSTRUCTIONS): |
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IN |
Item
1. Security and Issuer.
This
Schedule 13D is being filed with respect to the common stock, (the “Common
Stock”), par value $.001 per share of Document Capture Technologies, Inc. (the
“Company”) a Delaware corporation, with its principal executive offices at 1798
Technology Drive, Suite 178, San
Jose,
California 95110.
Item
2. Identity and Background.
This
Schedule 13D is being filed by Richard Dietl (the “Reporting Person”), an
individual, whose address is One Penn Plaza, 50th Fl., New York, NY 10119.
Mr. Dietl is the founder and chief executive officer of Beau Dietl &
Associates, specializing in corporate investigations for major international
companies.
During
the last five years, to the best knowledge of the Reporting Person, neither
the
Reporting Person nor any controlling person of the Reporting Person has (i)
been
convicted in a criminal proceeding, or (ii) 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.
Mr.
Dietl
is a citizen of the United States of America.
Item
3. Source and Amount of Funds or Other Consideration.
On
June
23, 2008, the Reporting Person entered into a Common Stock Purchase Agreement
with Syscan Imaging Ltd. (the “Seller”) to purchase an aggregate of 5,000,000
shares of the Company’s Common Stock for $2,500,000 from the Seller, $2,000,000
of which has been paid to date ($250,000 was immediately put into an escrow
account and $1,750,000 was paid to the Seller on July 14, 2008) and $500,000
of
which must be paid to the Seller on or before December 20, 2008. 200,000 of
the
aggregate 5,000,000 shares were immediately transferred by the Reporting Person
and the Reporting Person has no voting or investment power over such 200,000
shares.
Item
4. Purpose of Transaction.
The
Reporting Person acquired the Common Stock to which this Schedule 13D relates
for investment purposes
only and
not with a view towards distribution or resale,
in
accordance with the terms and conditions of the Common Stock Purchase Agreement
entered into by and between the Reporting Person and the Seller on June 23,
2008, attached hereto as Exhibit 1.
In
connection with the Common Stock Purchase Agreement, the Seller granted an
option
to
the Reporting Person to purchase up to 3,173,514 additional shares of the
Company’s Common Stock from the Seller at a purchase price of $0.50 per share,
for a period of 12 months from the date of the Common Stock Purchase
Agreement.
Item
5. Interest in Securities of the Issuer.
Prior
to
the date of the purchase, the Reporting Person beneficially owned 200,000 shares
of the Company’s Common Stock. On July 14, 2008, the Reporting Person commenced
payment on the purchase of an aggregate of 5,000,000 shares of the Company’s
Common Stock, 200,000 of which were immediately transferred to a non-affiliated
third party. The shares beneficially owned by the Reporting Person as of the
date of this Schedule 13D represent approximately 44.3% of the issued and
outstanding Common Stock of the Company.
The
Reporting Person has sole power to vote and dispose of each of the 5,000,000
shares of the Company’s Common Stock beneficially owned by him and upon the
exercise, if any, of the 3,173,514 shares that may be acquired by the Reporting
Person from the Seller, the Reporting Person expects to have sole voting and
investment power over such 3,173,514 shares. In the sixty (60) days prior to
the
date of this Schedule 13D, there have been no other transactions in the Common
Stock of the Company by the Reporting Person, and no other person has the right
to receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the Reporting Person’s shares of Common Stock.
Item
6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
In
connection with the Common Stock Purchase Agreement, the Seller granted an
option
to
the Reporting Person to purchase up to 3,173,514 additional shares of the
Company’s Common Stock from the Seller at a purchase price of $0.50 per share,
for a period of 12 months from the date of the Common Stock Purchase
Agreement.
Item
7. Material to be Filed as Exhibits.
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Exhibit
1
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Common
Stock Purchase Agreement between Richard Dietl and Syscan Imaging
Ltd.
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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.
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Date:
July 23, 2008
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By: |
/s/
Richard Dietl
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Richard
Dietl
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